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IndiaTV Business: Google News Feed: Digest for August 13, 2024

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In a significant update, the Reserve Bank of India (RBI) announced on Thursday that the UPI transaction limit for tax payments has been increased from Rs 1 lakh to Rs 5 lakh per transaction. This change was revealed by RBI Governor Shaktikanta Das during the announcement of the third bi-monthly monetary policy for the current financial year.
 RBI announcements: Reserve Bank of India (RBI) Governor Shaktikanta Das announced several important decisions today. The outcomes of the Monetary Policy Committee (MPC) meeting, which began on June 6, were disclosed today. The RBI has opted to maintain the repo rate at 6.5 per cent for the ninth consecutive time. Additionally, the RBI introduced several key measures that will have a direct impact on the public. Let's explore how these changes could affect everyday people.
Indian markets witnessed heavy buying at the opening bell on Friday. The benchmark BSE Sensex jumped 789 points to reach 79,675, while the Nifty50 climbed by 0.98%, adding 235 points to settle at 24,352. The rally was driven by gains across all sectors, with IT stocks such as Tech Mahindra, Infosys, TCS, and HCL Tech leading the charge, each gaining around 2%.
Attention bank customers! The HDFC bank alerted its customers with a message that the UPI services will be down on Saturday due to scheduled maintenance and various services such as mobile banking app including GPay, Paytm, WhatsApp Pay and others would remain unavailable for three hours on August 10. In a mail sent to several users, the HDFC bank stated that HDFC Bank UPI services will remain unavailable and added that the UPI downtime would help them improve the efficiency of their services.
Closing market news: Indian equity indices closed in the green today (August 9) following positive sentiment in the markets. At closing, Sensex closed 819 points or 1.04 per cent higher at 79,705 and Nifty closed 250 points or 1.04 per cent higher at 24,367.
Here comes a piece of good news for bank customers who have fixed deposits in the Union Bank of India. The bank revised its interest rates on fixed deposits and said it is offering a special interest rate of 7.4% to regular citizens for term deposits with a 333-day tenure. The bank also said it has increased fixed deposit (FD) interest rates for FDs of up to Rs 3 crore.
The Bank of Baroda on Friday announced hike in lending rates by 5 basis points (bps) on 3-month, 6-month, and 1-year tenures, with effect from August 12, 2024. As peer the regulatory filing by the bank on August 9, the bank said it has reviewed/ changed marginal cost of funds based lending rate (MCLR) with effect from August 12, 2024. With the latest hike in the marginal cost of funds-based lending rates (MCLR), the loan EMIs will increase for borrowers.
Union Finance Minister Nirmala Sitharaman has called on banks to concentrate on their core business activities, emphasising the importance of innovative products to increase deposits. She highlighted the need for stricter deposit collection and lending practices while addressing a press conference following a post-budget meeting with the RBI.
Adani Group on Sunday reacted to the allegations made by short seller Hindenburg against capital markets regulator Sebi chairman Madhabi Puri Buch and her husband Dhaval Buch, calling it 'a red herring'. 
Fixed deposits: In the past two months, several public sector banks (PSUs) have adjusted their fixed deposit (FD) interest rates. In August, banks such as Union Bank, Bank of India, and Punjab National Bank updated their FD rates. Currently, Union Bank of India offers the highest interest rate of up to 7.40 per cent per annum on FDs with a tenure of 333 days. Additionally, senior citizens (aged 60 and above) receive an extra 0.50 per cent interest, while super senior citizens (above 80 years) are granted an additional 0.75 per cent on their FDs.
 RBI announcements: Reserve Bank of India (RBI) Governor Shaktikanta Das announced several important decisions today. The outcomes of the Monetary Policy Committee (MPC) meeting, which began on June 6, were disclosed today. The RBI has opted to maintain the repo rate at 6.5 per cent for the ninth consecutive time. Additionally, the RBI introduced several key measures that will have a direct impact on the public. Let's explore how these changes could affect everyday people.
Indian markets witnessed heavy buying at the opening bell on Friday. The benchmark BSE Sensex jumped 789 points to reach 79,675, while the Nifty50 climbed by 0.98%, adding 235 points to settle at 24,352. The rally was driven by gains across all sectors, with IT stocks such as Tech Mahindra, Infosys, TCS, and HCL Tech leading the charge, each gaining around 2%.
Attention bank customers! The HDFC bank alerted its customers with a message that the UPI services will be down on Saturday due to scheduled maintenance and various services such as mobile banking app including GPay, Paytm, WhatsApp Pay and others would remain unavailable for three hours on August 10. In a mail sent to several users, the HDFC bank stated that HDFC Bank UPI services will remain unavailable and added that the UPI downtime would help them improve the efficiency of their services.
Closing market news: Indian equity indices closed in the green today (August 9) following positive sentiment in the markets. At closing, Sensex closed 819 points or 1.04 per cent higher at 79,705 and Nifty closed 250 points or 1.04 per cent higher at 24,367.
Here comes a piece of good news for bank customers who have fixed deposits in the Union Bank of India. The bank revised its interest rates on fixed deposits and said it is offering a special interest rate of 7.4% to regular citizens for term deposits with a 333-day tenure. The bank also said it has increased fixed deposit (FD) interest rates for FDs of up to Rs 3 crore.
The Bank of Baroda on Friday announced hike in lending rates by 5 basis points (bps) on 3-month, 6-month, and 1-year tenures, with effect from August 12, 2024. As peer the regulatory filing by the bank on August 9, the bank said it has reviewed/ changed marginal cost of funds based lending rate (MCLR) with effect from August 12, 2024. With the latest hike in the marginal cost of funds-based lending rates (MCLR), the loan EMIs will increase for borrowers.
Union Finance Minister Nirmala Sitharaman has called on banks to concentrate on their core business activities, emphasising the importance of innovative products to increase deposits. She highlighted the need for stricter deposit collection and lending practices while addressing a press conference following a post-budget meeting with the RBI.
Adani Group on Sunday reacted to the allegations made by short seller Hindenburg against capital markets regulator Sebi chairman Madhabi Puri Buch and her husband Dhaval Buch, calling it 'a red herring'. 
Fixed deposits: In the past two months, several public sector banks (PSUs) have adjusted their fixed deposit (FD) interest rates. In August, banks such as Union Bank, Bank of India, and Punjab National Bank updated their FD rates. Currently, Union Bank of India offers the highest interest rate of up to 7.40 per cent per annum on FDs with a tenure of 333 days. Additionally, senior citizens (aged 60 and above) receive an extra 0.50 per cent interest, while super senior citizens (above 80 years) are granted an additional 0.75 per cent on their FDs.

Stock Market: Sensex down by 254, trading at 79,451

Monday 12 August 2024 04:04 AM UTC+00
Indian equity markets faced a sharp decline in early trade on Monday as investor sentiment soured following allegations by the Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband. The report, released on Saturday, accused Buch and her husband of having undisclosed investments in obscure offshore funds, raising concerns about potential regulatory and market implications.
 RBI announcements: Reserve Bank of India (RBI) Governor Shaktikanta Das announced several important decisions today. The outcomes of the Monetary Policy Committee (MPC) meeting, which began on June 6, were disclosed today. The RBI has opted to maintain the repo rate at 6.5 per cent for the ninth consecutive time. Additionally, the RBI introduced several key measures that will have a direct impact on the public. Let's explore how these changes could affect everyday people.
Indian markets witnessed heavy buying at the opening bell on Friday. The benchmark BSE Sensex jumped 789 points to reach 79,675, while the Nifty50 climbed by 0.98%, adding 235 points to settle at 24,352. The rally was driven by gains across all sectors, with IT stocks such as Tech Mahindra, Infosys, TCS, and HCL Tech leading the charge, each gaining around 2%.
Attention bank customers! The HDFC bank alerted its customers with a message that the UPI services will be down on Saturday due to scheduled maintenance and various services such as mobile banking app including GPay, Paytm, WhatsApp Pay and others would remain unavailable for three hours on August 10. In a mail sent to several users, the HDFC bank stated that HDFC Bank UPI services will remain unavailable and added that the UPI downtime would help them improve the efficiency of their services.
Closing market news: Indian equity indices closed in the green today (August 9) following positive sentiment in the markets. At closing, Sensex closed 819 points or 1.04 per cent higher at 79,705 and Nifty closed 250 points or 1.04 per cent higher at 24,367.
Here comes a piece of good news for bank customers who have fixed deposits in the Union Bank of India. The bank revised its interest rates on fixed deposits and said it is offering a special interest rate of 7.4% to regular citizens for term deposits with a 333-day tenure. The bank also said it has increased fixed deposit (FD) interest rates for FDs of up to Rs 3 crore.
The Bank of Baroda on Friday announced hike in lending rates by 5 basis points (bps) on 3-month, 6-month, and 1-year tenures, with effect from August 12, 2024. As peer the regulatory filing by the bank on August 9, the bank said it has reviewed/ changed marginal cost of funds based lending rate (MCLR) with effect from August 12, 2024. With the latest hike in the marginal cost of funds-based lending rates (MCLR), the loan EMIs will increase for borrowers.
Union Finance Minister Nirmala Sitharaman has called on banks to concentrate on their core business activities, emphasising the importance of innovative products to increase deposits. She highlighted the need for stricter deposit collection and lending practices while addressing a press conference following a post-budget meeting with the RBI.
Adani Group on Sunday reacted to the allegations made by short seller Hindenburg against capital markets regulator Sebi chairman Madhabi Puri Buch and her husband Dhaval Buch, calling it 'a red herring'. 
Fixed deposits: In the past two months, several public sector banks (PSUs) have adjusted their fixed deposit (FD) interest rates. In August, banks such as Union Bank, Bank of India, and Punjab National Bank updated their FD rates. Currently, Union Bank of India offers the highest interest rate of up to 7.40 per cent per annum on FDs with a tenure of 333 days. Additionally, senior citizens (aged 60 and above) receive an extra 0.50 per cent interest, while super senior citizens (above 80 years) are granted an additional 0.75 per cent on their FDs.

Stock Market: Sensex down by 254, trading at 79,451

Monday 12 August 2024 04:04 AM UTC+00
Indian equity markets faced a sharp decline in early trade on Monday as investor sentiment soured following allegations by the Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband. The report, released on Saturday, accused Buch and her husband of having undisclosed investments in obscure offshore funds, raising concerns about potential regulatory and market implications.
Attention bank customers! The HDFC bank alerted its customers with a message that the UPI services will be down on Saturday due to scheduled maintenance and various services such as mobile banking app including GPay, Paytm, WhatsApp Pay and others would remain unavailable for three hours on August 10. In a mail sent to several users, the HDFC bank stated that HDFC Bank UPI services will remain unavailable and added that the UPI downtime would help them improve the efficiency of their services.
Closing market news: Indian equity indices closed in the green today (August 9) following positive sentiment in the markets. At closing, Sensex closed 819 points or 1.04 per cent higher at 79,705 and Nifty closed 250 points or 1.04 per cent higher at 24,367.
Here comes a piece of good news for bank customers who have fixed deposits in the Union Bank of India. The bank revised its interest rates on fixed deposits and said it is offering a special interest rate of 7.4% to regular citizens for term deposits with a 333-day tenure. The bank also said it has increased fixed deposit (FD) interest rates for FDs of up to Rs 3 crore.
The Bank of Baroda on Friday announced hike in lending rates by 5 basis points (bps) on 3-month, 6-month, and 1-year tenures, with effect from August 12, 2024. As peer the regulatory filing by the bank on August 9, the bank said it has reviewed/ changed marginal cost of funds based lending rate (MCLR) with effect from August 12, 2024. With the latest hike in the marginal cost of funds-based lending rates (MCLR), the loan EMIs will increase for borrowers.
Union Finance Minister Nirmala Sitharaman has called on banks to concentrate on their core business activities, emphasising the importance of innovative products to increase deposits. She highlighted the need for stricter deposit collection and lending practices while addressing a press conference following a post-budget meeting with the RBI.
Adani Group on Sunday reacted to the allegations made by short seller Hindenburg against capital markets regulator Sebi chairman Madhabi Puri Buch and her husband Dhaval Buch, calling it 'a red herring'. 
Fixed deposits: In the past two months, several public sector banks (PSUs) have adjusted their fixed deposit (FD) interest rates. In August, banks such as Union Bank, Bank of India, and Punjab National Bank updated their FD rates. Currently, Union Bank of India offers the highest interest rate of up to 7.40 per cent per annum on FDs with a tenure of 333 days. Additionally, senior citizens (aged 60 and above) receive an extra 0.50 per cent interest, while super senior citizens (above 80 years) are granted an additional 0.75 per cent on their FDs.

Stock Market: Sensex down by 254, trading at 79,451

Monday 12 August 2024 04:04 AM UTC+00
Indian equity markets faced a sharp decline in early trade on Monday as investor sentiment soured following allegations by the Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband. The report, released on Saturday, accused Buch and her husband of having undisclosed investments in obscure offshore funds, raising concerns about potential regulatory and market implications.
New Delhi: Retail inflation fell to 3.54 per cent in July, dipping below the Reserve Bank's 4 per cent target for the first time in nearly five years, government data showed on Monday. This decline was driven by a cooling in food prices.
Income Tax Refund: The deadline to file income tax returns is over and the taxpayers are now waiting for their refund after filing their ITR. The due date for filing Income Tax Returns was on July 31, 2024 and the taxpayers who have successfully filed their ITRs by the deadline can expect the refund to be deposited into their bank accounts shortly.
Closing market news: Indian equity indices closed in the green today (August 9) following positive sentiment in the markets. At closing, Sensex closed 819 points or 1.04 per cent higher at 79,705 and Nifty closed 250 points or 1.04 per cent higher at 24,367.
Here comes a piece of good news for bank customers who have fixed deposits in the Union Bank of India. The bank revised its interest rates on fixed deposits and said it is offering a special interest rate of 7.4% to regular citizens for term deposits with a 333-day tenure. The bank also said it has increased fixed deposit (FD) interest rates for FDs of up to Rs 3 crore.
The Bank of Baroda on Friday announced hike in lending rates by 5 basis points (bps) on 3-month, 6-month, and 1-year tenures, with effect from August 12, 2024. As peer the regulatory filing by the bank on August 9, the bank said it has reviewed/ changed marginal cost of funds based lending rate (MCLR) with effect from August 12, 2024. With the latest hike in the marginal cost of funds-based lending rates (MCLR), the loan EMIs will increase for borrowers.
Union Finance Minister Nirmala Sitharaman has called on banks to concentrate on their core business activities, emphasising the importance of innovative products to increase deposits. She highlighted the need for stricter deposit collection and lending practices while addressing a press conference following a post-budget meeting with the RBI.
Adani Group on Sunday reacted to the allegations made by short seller Hindenburg against capital markets regulator Sebi chairman Madhabi Puri Buch and her husband Dhaval Buch, calling it 'a red herring'. 
Fixed deposits: In the past two months, several public sector banks (PSUs) have adjusted their fixed deposit (FD) interest rates. In August, banks such as Union Bank, Bank of India, and Punjab National Bank updated their FD rates. Currently, Union Bank of India offers the highest interest rate of up to 7.40 per cent per annum on FDs with a tenure of 333 days. Additionally, senior citizens (aged 60 and above) receive an extra 0.50 per cent interest, while super senior citizens (above 80 years) are granted an additional 0.75 per cent on their FDs.

Stock Market: Sensex down by 254, trading at 79,451

Monday 12 August 2024 04:04 AM UTC+00
Indian equity markets faced a sharp decline in early trade on Monday as investor sentiment soured following allegations by the Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband. The report, released on Saturday, accused Buch and her husband of having undisclosed investments in obscure offshore funds, raising concerns about potential regulatory and market implications.
New Delhi: Retail inflation fell to 3.54 per cent in July, dipping below the Reserve Bank's 4 per cent target for the first time in nearly five years, government data showed on Monday. This decline was driven by a cooling in food prices.
Income Tax Refund: The deadline to file income tax returns is over and the taxpayers are now waiting for their refund after filing their ITR. The due date for filing Income Tax Returns was on July 31, 2024 and the taxpayers who have successfully filed their ITRs by the deadline can expect the refund to be deposited into their bank accounts shortly.
India's net direct tax collection surged by 22.48 per cent, reaching approximately Rs 6.93 lakh crore as of August 11 for the current fiscal year, according to government data released on Monday. This significant increase is said to be the reflection of robust economic activity and improved tax compliance. The overall tax collection includes Rs 4.47 lakh crore from personal income tax, showcasing the strong contribution of individual taxpayers to the exchequer. Meanwhile, the corporate tax collection also showed a healthy performance, contributing Rs 2.22 lakh crore to the total.
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