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RBI allows pre-sanctioned credit lines through UPI

Monday 04 September 2023 06:08 PM UTC+00
The Reserve Bank on Monday said the UPI System will also include pre-sanctioned credit lines issued by banks for transactions. Earlier, only the deposited amount could be transacted through the UPI System.
Extending their rally for the third day running, equity benchmark indices climbed in early trade on Tuesday amid encouraging domestic macroeconomic data. The BSE benchmark Sensex climbed 119.17 points to 65,747.31 in early trade. The Nifty gained 39.15 points to 19,567.95.
Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), said on Tuesday that monetary policy must be forward-looking. He warned that taking a policy approach that only looks at the past can lead to problems. Das used the analogy of driving a car on a road with potential hazards to illustrate his point. He said that the driver must be able to see ahead and adjust the speed of the car accordingly. If the driver reacts too late to a speed bump, they could cause an accident.
Due to weak global cues and foreign fund outflows, equity benchmark indices declined in early trade on Wednesday. The BSE Sensex declined 45.66 points to 65,734.60 in early trade. The Nifty slipped 12.75 points to 19,562.15.
Income Tax Returns update: The average time taken to process income tax returns has come down significantly to just 10 days now. The Central Board of Direct Taxes (CBDT) in a statement on Tuesday said that the post-verification process by the taxpayer has been simplified and made faster. According to reports, the CBDT said that the efforts being made by the Income Tax Department are being continuously strengthened. As many as 6.98 crore tax returns have been filed for income earned in 2022-23 fiscal and out of them, more than 6 crore filings have been processed, the CBDT said on Tuesday.
IndiGo flights-G20 Summit: IndiGo airlines today (September 6) said that all the passengers have been notified about flight cancellations at the Delhi airport in connection with G20 Summit 2023.
Tata Group's consumer unit stepped up its efforts to buy at least 51 per cent of popular snack food maker Haldiram's, said sources. But there is a roadblock in the deal as the company is not comfortable with the USD 10 billion valuation sought.
RBI Governor Shaktikanta Das said at a Global Fintech Festival 2023 event on Wednesday that the Indian fintech industry is projected to generate around USD 200 billion in revenue by 2030. He attributed this growth to the factors such as the increasing adoption of digital payments, the growth of the digital lending market, and the rise of insurtech and wealthtech companies.
The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
In a bizarre incident, ITC Ltd Food Division was directed to pay Rs one lakh to a consumer for alleged unfair trade practice after he complained that packets of the corporate's biscuit brand Sunfeast Marie Light had one biscuit lesser than that advertised on the wrapper.

RBI allows pre-sanctioned credit lines through UPI

Monday 04 September 2023 06:08 PM UTC+00
The Reserve Bank on Monday said the UPI System will also include pre-sanctioned credit lines issued by banks for transactions. Earlier, only the deposited amount could be transacted through the UPI System.
Extending their rally for the third day running, equity benchmark indices climbed in early trade on Tuesday amid encouraging domestic macroeconomic data. The BSE benchmark Sensex climbed 119.17 points to 65,747.31 in early trade. The Nifty gained 39.15 points to 19,567.95.
Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), said on Tuesday that monetary policy must be forward-looking. He warned that taking a policy approach that only looks at the past can lead to problems. Das used the analogy of driving a car on a road with potential hazards to illustrate his point. He said that the driver must be able to see ahead and adjust the speed of the car accordingly. If the driver reacts too late to a speed bump, they could cause an accident.
Due to weak global cues and foreign fund outflows, equity benchmark indices declined in early trade on Wednesday. The BSE Sensex declined 45.66 points to 65,734.60 in early trade. The Nifty slipped 12.75 points to 19,562.15.
Income Tax Returns update: The average time taken to process income tax returns has come down significantly to just 10 days now. The Central Board of Direct Taxes (CBDT) in a statement on Tuesday said that the post-verification process by the taxpayer has been simplified and made faster. According to reports, the CBDT said that the efforts being made by the Income Tax Department are being continuously strengthened. As many as 6.98 crore tax returns have been filed for income earned in 2022-23 fiscal and out of them, more than 6 crore filings have been processed, the CBDT said on Tuesday.
IndiGo flights-G20 Summit: IndiGo airlines today (September 6) said that all the passengers have been notified about flight cancellations at the Delhi airport in connection with G20 Summit 2023.
Tata Group's consumer unit stepped up its efforts to buy at least 51 per cent of popular snack food maker Haldiram's, said sources. But there is a roadblock in the deal as the company is not comfortable with the USD 10 billion valuation sought.
RBI Governor Shaktikanta Das said at a Global Fintech Festival 2023 event on Wednesday that the Indian fintech industry is projected to generate around USD 200 billion in revenue by 2030. He attributed this growth to the factors such as the increasing adoption of digital payments, the growth of the digital lending market, and the rise of insurtech and wealthtech companies.
The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
In a bizarre incident, ITC Ltd Food Division was directed to pay Rs one lakh to a consumer for alleged unfair trade practice after he complained that packets of the corporate's biscuit brand Sunfeast Marie Light had one biscuit lesser than that advertised on the wrapper.
Extending their rally for the third day running, equity benchmark indices climbed in early trade on Tuesday amid encouraging domestic macroeconomic data. The BSE benchmark Sensex climbed 119.17 points to 65,747.31 in early trade. The Nifty gained 39.15 points to 19,567.95.
Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), said on Tuesday that monetary policy must be forward-looking. He warned that taking a policy approach that only looks at the past can lead to problems. Das used the analogy of driving a car on a road with potential hazards to illustrate his point. He said that the driver must be able to see ahead and adjust the speed of the car accordingly. If the driver reacts too late to a speed bump, they could cause an accident.
Due to weak global cues and foreign fund outflows, equity benchmark indices declined in early trade on Wednesday. The BSE Sensex declined 45.66 points to 65,734.60 in early trade. The Nifty slipped 12.75 points to 19,562.15.
Income Tax Returns update: The average time taken to process income tax returns has come down significantly to just 10 days now. The Central Board of Direct Taxes (CBDT) in a statement on Tuesday said that the post-verification process by the taxpayer has been simplified and made faster. According to reports, the CBDT said that the efforts being made by the Income Tax Department are being continuously strengthened. As many as 6.98 crore tax returns have been filed for income earned in 2022-23 fiscal and out of them, more than 6 crore filings have been processed, the CBDT said on Tuesday.
IndiGo flights-G20 Summit: IndiGo airlines today (September 6) said that all the passengers have been notified about flight cancellations at the Delhi airport in connection with G20 Summit 2023.
Tata Group's consumer unit stepped up its efforts to buy at least 51 per cent of popular snack food maker Haldiram's, said sources. But there is a roadblock in the deal as the company is not comfortable with the USD 10 billion valuation sought.
RBI Governor Shaktikanta Das said at a Global Fintech Festival 2023 event on Wednesday that the Indian fintech industry is projected to generate around USD 200 billion in revenue by 2030. He attributed this growth to the factors such as the increasing adoption of digital payments, the growth of the digital lending market, and the rise of insurtech and wealthtech companies.
The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
In a bizarre incident, ITC Ltd Food Division was directed to pay Rs one lakh to a consumer for alleged unfair trade practice after he complained that packets of the corporate's biscuit brand Sunfeast Marie Light had one biscuit lesser than that advertised on the wrapper.
As India is set to hold the G20 Summit scheduled to be held on September 9-10, India's business tycoons, led by rivals Mukesh Ambani and Gautam Adani, will join delegates at a dinner in the national capital on Saturday, September 9. 
Income Tax Returns update: The average time taken to process income tax returns has come down significantly to just 10 days now. The Central Board of Direct Taxes (CBDT) in a statement on Tuesday said that the post-verification process by the taxpayer has been simplified and made faster. According to reports, the CBDT said that the efforts being made by the Income Tax Department are being continuously strengthened. As many as 6.98 crore tax returns have been filed for income earned in 2022-23 fiscal and out of them, more than 6 crore filings have been processed, the CBDT said on Tuesday.
IndiGo flights-G20 Summit: IndiGo airlines today (September 6) said that all the passengers have been notified about flight cancellations at the Delhi airport in connection with G20 Summit 2023.
Tata Group's consumer unit stepped up its efforts to buy at least 51 per cent of popular snack food maker Haldiram's, said sources. But there is a roadblock in the deal as the company is not comfortable with the USD 10 billion valuation sought.
RBI Governor Shaktikanta Das said at a Global Fintech Festival 2023 event on Wednesday that the Indian fintech industry is projected to generate around USD 200 billion in revenue by 2030. He attributed this growth to the factors such as the increasing adoption of digital payments, the growth of the digital lending market, and the rise of insurtech and wealthtech companies.
The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
In a bizarre incident, ITC Ltd Food Division was directed to pay Rs one lakh to a consumer for alleged unfair trade practice after he complained that packets of the corporate's biscuit brand Sunfeast Marie Light had one biscuit lesser than that advertised on the wrapper.
As India is set to hold the G20 Summit scheduled to be held on September 9-10, India's business tycoons, led by rivals Mukesh Ambani and Gautam Adani, will join delegates at a dinner in the national capital on Saturday, September 9. 
Ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit, India has removed additional duties on about half a dozen US products, including chickpeas, lentils and apples. India had raised import duties on 28 US products in June 2019, after the United States had increased its customs duties on certain steel and aluminium products.
As world leaders are gathering in India to attend G20 summit 2023, the crypto market is hopeful for a dialogue on the revival of the industry with a common regulation in place. Under the leadership of India's presidency, the G20 countries are reportedly poised to introduce what could be recognised as the first-of-their-kind regulations governing cryptocurrencies and crypto assets worldwide. India is one of the major players in the cryptocurrency market. According to statista.com, the Cryptocurrencies market in India is projected to grow by 9.83 per cent (2023-2027) resulting in a market volume of USD 324.00m in 2027.
The depreciation of rupee (INR) continued for the fourth straight day Rupee settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.
Income Tax Returns update: The average time taken to process income tax returns has come down significantly to just 10 days now. The Central Board of Direct Taxes (CBDT) in a statement on Tuesday said that the post-verification process by the taxpayer has been simplified and made faster. According to reports, the CBDT said that the efforts being made by the Income Tax Department are being continuously strengthened. As many as 6.98 crore tax returns have been filed for income earned in 2022-23 fiscal and out of them, more than 6 crore filings have been processed, the CBDT said on Tuesday.
IndiGo flights-G20 Summit: IndiGo airlines today (September 6) said that all the passengers have been notified about flight cancellations at the Delhi airport in connection with G20 Summit 2023.
Tata Group's consumer unit stepped up its efforts to buy at least 51 per cent of popular snack food maker Haldiram's, said sources. But there is a roadblock in the deal as the company is not comfortable with the USD 10 billion valuation sought.
RBI Governor Shaktikanta Das said at a Global Fintech Festival 2023 event on Wednesday that the Indian fintech industry is projected to generate around USD 200 billion in revenue by 2030. He attributed this growth to the factors such as the increasing adoption of digital payments, the growth of the digital lending market, and the rise of insurtech and wealthtech companies.
The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
In a bizarre incident, ITC Ltd Food Division was directed to pay Rs one lakh to a consumer for alleged unfair trade practice after he complained that packets of the corporate's biscuit brand Sunfeast Marie Light had one biscuit lesser than that advertised on the wrapper.
As India is set to hold the G20 Summit scheduled to be held on September 9-10, India's business tycoons, led by rivals Mukesh Ambani and Gautam Adani, will join delegates at a dinner in the national capital on Saturday, September 9. 
Ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit, India has removed additional duties on about half a dozen US products, including chickpeas, lentils and apples. India had raised import duties on 28 US products in June 2019, after the United States had increased its customs duties on certain steel and aluminium products.
As world leaders are gathering in India to attend G20 summit 2023, the crypto market is hopeful for a dialogue on the revival of the industry with a common regulation in place. Under the leadership of India's presidency, the G20 countries are reportedly poised to introduce what could be recognised as the first-of-their-kind regulations governing cryptocurrencies and crypto assets worldwide. India is one of the major players in the cryptocurrency market. According to statista.com, the Cryptocurrencies market in India is projected to grow by 9.83 per cent (2023-2027) resulting in a market volume of USD 324.00m in 2027.
The depreciation of rupee (INR) continued for the fourth straight day Rupee settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.
IndiGo flights-G20 Summit: IndiGo airlines today (September 6) said that all the passengers have been notified about flight cancellations at the Delhi airport in connection with G20 Summit 2023.
Tata Group's consumer unit stepped up its efforts to buy at least 51 per cent of popular snack food maker Haldiram's, said sources. But there is a roadblock in the deal as the company is not comfortable with the USD 10 billion valuation sought.
RBI Governor Shaktikanta Das said at a Global Fintech Festival 2023 event on Wednesday that the Indian fintech industry is projected to generate around USD 200 billion in revenue by 2030. He attributed this growth to the factors such as the increasing adoption of digital payments, the growth of the digital lending market, and the rise of insurtech and wealthtech companies.
The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
In a bizarre incident, ITC Ltd Food Division was directed to pay Rs one lakh to a consumer for alleged unfair trade practice after he complained that packets of the corporate's biscuit brand Sunfeast Marie Light had one biscuit lesser than that advertised on the wrapper.
As India is set to hold the G20 Summit scheduled to be held on September 9-10, India's business tycoons, led by rivals Mukesh Ambani and Gautam Adani, will join delegates at a dinner in the national capital on Saturday, September 9. 
Ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit, India has removed additional duties on about half a dozen US products, including chickpeas, lentils and apples. India had raised import duties on 28 US products in June 2019, after the United States had increased its customs duties on certain steel and aluminium products.
As world leaders are gathering in India to attend G20 summit 2023, the crypto market is hopeful for a dialogue on the revival of the industry with a common regulation in place. Under the leadership of India's presidency, the G20 countries are reportedly poised to introduce what could be recognised as the first-of-their-kind regulations governing cryptocurrencies and crypto assets worldwide. India is one of the major players in the cryptocurrency market. According to statista.com, the Cryptocurrencies market in India is projected to grow by 9.83 per cent (2023-2027) resulting in a market volume of USD 324.00m in 2027.
The depreciation of rupee (INR) continued for the fourth straight day Rupee settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.
The increased demand for ethanol for blending with petrol and diesel to meet government targets has pushed industry players to boost production. Ethanol is an organic compound that is produced from biomass. The reason why ethanol is blended with petrol is that it reduces vehicular emissions. To capitalize on the supply-demand deficit scenario, ethanol maker BCL Industries has said that it has plans to increase the total group distillery capacity to 850 kilo litre per day (KLPD) over the next two years from the current 600 KLPD.
Tata Group's consumer unit stepped up its efforts to buy at least 51 per cent of popular snack food maker Haldiram's, said sources. But there is a roadblock in the deal as the company is not comfortable with the USD 10 billion valuation sought.
RBI Governor Shaktikanta Das said at a Global Fintech Festival 2023 event on Wednesday that the Indian fintech industry is projected to generate around USD 200 billion in revenue by 2030. He attributed this growth to the factors such as the increasing adoption of digital payments, the growth of the digital lending market, and the rise of insurtech and wealthtech companies.
The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
In a bizarre incident, ITC Ltd Food Division was directed to pay Rs one lakh to a consumer for alleged unfair trade practice after he complained that packets of the corporate's biscuit brand Sunfeast Marie Light had one biscuit lesser than that advertised on the wrapper.
As India is set to hold the G20 Summit scheduled to be held on September 9-10, India's business tycoons, led by rivals Mukesh Ambani and Gautam Adani, will join delegates at a dinner in the national capital on Saturday, September 9. 
Ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit, India has removed additional duties on about half a dozen US products, including chickpeas, lentils and apples. India had raised import duties on 28 US products in June 2019, after the United States had increased its customs duties on certain steel and aluminium products.
As world leaders are gathering in India to attend G20 summit 2023, the crypto market is hopeful for a dialogue on the revival of the industry with a common regulation in place. Under the leadership of India's presidency, the G20 countries are reportedly poised to introduce what could be recognised as the first-of-their-kind regulations governing cryptocurrencies and crypto assets worldwide. India is one of the major players in the cryptocurrency market. According to statista.com, the Cryptocurrencies market in India is projected to grow by 9.83 per cent (2023-2027) resulting in a market volume of USD 324.00m in 2027.
The depreciation of rupee (INR) continued for the fourth straight day Rupee settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.
The increased demand for ethanol for blending with petrol and diesel to meet government targets has pushed industry players to boost production. Ethanol is an organic compound that is produced from biomass. The reason why ethanol is blended with petrol is that it reduces vehicular emissions. To capitalize on the supply-demand deficit scenario, ethanol maker BCL Industries has said that it has plans to increase the total group distillery capacity to 850 kilo litre per day (KLPD) over the next two years from the current 600 KLPD.
The capital goods sector is one of the most critical segments for achieving the vision of Make in India. Soon after coming to power in 2014, the Modi government approved the National Capital Goods Policy to boost manufacturing activities. The policy, which was formulated with an aim to increase the production of capital goods, has given impetus to the industry, thus driving the economy. During the pandemic, several small and medium enterprises played a key role in meeting the demands of the medical industry.
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