Direct tax mop up for FY25 misses target owing to record refunds The finance ministry set a target of Rs 22,07,000 crore for the direct tax administration as per the budget receipt of July 2024. It was revised to Rs 22,37,000 crore during the budget presented in February 2025.
Bank holiday today? Check whether banks are open or closed on April 26, 2025 According to RBI rules, today April 26 is a banking holiday since it is the fourth Saturday of the month. Read on to find out the days of May when banks will be closed in different states of India.
Lower EMIs! Indian Bank reduces Home & Vehicle Loan interest rates Following the Reserve Bank of India’s (RBI) repo rate cut, Indian Bank has reduced its home loan interest rates to 7.90% and vehicle loan rates to 8.25%.
India’s forex reserves jump to USD 686.145 bn; gold reserves also rise India’s forex reserves jumped USD 8.31 billion to USD 686.145 billion for the week ended April 18, the RBI said on Friday. Gold reserves increased by USD 4.575 billion to USD 84.572 billion during the week.
RBI cancels licence of Jalandhar-based Imperial Urban Co-operative Bank The Reserve Bank of India on Friday said it has cancelled the licence of Jalandhar-based Imperial Urban Co-operative Bank as the lender does not have adequate capital and earning prospects.
ITR refund fraud: Taxpayer Alert! Income Tax dept using AI to detects false claims The Income Tax Department utilises AI to detect fraudulent ITR refund claims, particularly under the old tax regime. Incorrect deductions or exemptions, even with TDS deducted, result in severe penalties, including fines up to 200% and potential imprisonment.
Gold prices slip on Friday in both spot and futures market This week will go down in bullion history as a memorable one since the price of the yellow metal went past the psychologically crucial mark of Rs 100,000 per 10 grams of 24 carat gold.
India’s GDP growth forecast at 6.5%: EY Report on FY26 Outlook The ‘EY Economy Watch’ report for April identifies four key interlinked effects which would have a bearing on India’s growth — reduced exports, global slowdown, falling crude oil prices, and the impact of global excess production capacities.
PNB NIRMAAN 2025 campaign: Big relief for home, car, education loan subscribers Punjab National Bank (PNB) launched its “PNB NIRMAAN 2025” campaign, offering reduced interest rates and waived processing fees on home and car loans.
Why is Stock Market down today? Why are Sensex, Nifty trading lower? The Indian stock market surrendered early gains on Friday, April 25 and Sensex was trading more than 1000 points down a few minutes after 11 am. Analysts indicated that regional geo-political tension and earnings could have contributed to the decline.
