The first installment of advance tax, which was due on June 15, saw accumulation inflation 27.34% to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) of Rs 1.14 lakh crore and Personal Income Tax of Rs 34,470 crore. Net direct tax collections have jumped by 21 percent to over Rs 4.62 lakh crore…

Consumers barely up spending in May compared to April as still-high inflation and high interest rates curbed spending. According to the Commerce Department, retail sales rose 0.1 percent in May, slower than the pace expected by economists. And April sales were revised downwards – down 0.2 percent from unchanged. Sales rose 0.6 percent in March…

State Bank of India (SBI) has increased the marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps) for all tenors. The MCLR hike by SBI comes days after the Reserve Bank of India (RBI) left the key policy rate unchanged.This move is likely to be followed by other lenders, resulting in loans…

Retail inflation fell to a one-year low of 4.75% in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. Consumer Price Index (CPI) based retail inflation stood at 4.83 percent in April 2024 and 4.31% in May 2023 (previous low). According to data released by the National Statistical…

Tata Motors share price rose more than 2% on Wednesday, adding 7% in a week, as brokerages maintained a bullish stance on the stock amid better growth prospects highlighted by the company in an investor meet. While Tata Motors’ Indian business has already become net debt free by FY2024, it has set a target for…

New business premium collections of life insurance companies grow by 15.15% in the month of May 2024 compared to the same month last year, boost by strong demand for improved insurance protection from both corporate and individual consumers. According to the Life Insurance Council, new policy issuances grew by 12.45% in the same period, reflecting…

According to the latest survey by the Reserve Bank of India (RBI), Indian consumers are expected to increase spending over the next one year, with both essential and non-essential items increasing.RBI’s Consumer Confidence Survey (CCS) showed that the rise in consumer confidence has stalled for the current period as sentiments have declined slightly on all…

Bajaj Housing Finance IPO: Bajaj Housing Finance has filed preliminary draft papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds of ₹7,000 Crore through its upcoming public offering.The total public issue of up to ₹7,000 Crore includes a new issue of equity shares up to ₹4,000 Crore and an…

RBI MPC Meeting June 2024: With the RBI keeping the repo rate constant, all external benchmark lending rates linked to the repo rate will not increase, providing relief to borrowers as their EMIs will not increase. RBI Monetary Policy Meeting June 2024: The Monetary Policy Committee (MPC) of the Reserve Bank of India, which began…

A day after witnessing the worst trading session in four years, benchmark indices Sensex and Nifty recovered almost half of their losses on Wednesday after gaining over 3% each. The 30 share BSE Sensex closed at 74,382.24, up 2,303.19 points or 3.2 per cent. Nifty closed at 22,620.35, upturn 735.85 points or 3.36%. Sensex fell…