Mumbai: Salaried taxpayers claiming House Rent Allowance (HRA) under the Income-Tax (I-T) Act, face tighter disclosure norms from April 1, 2026, with the introduction of a new declaration format: Form 124 which replaces the earlier Form 12BB and requires additional details to curb misuse.Employees are required to submit this form to their employers for the…
MUMBAI: Finance Minister Nirmala Sitharaman Saturday urged markets regulator Securities & Exchange Board of India to take the lead in implementing the govt-initiated ‘one nation, one KYC’ process.For long, the govt has been working on a unified know your client (KYC) system to eliminate repetition across services regulated by banks, mutual funds, stocks, bonds, insurance…
US President Donald Trump’s second term has seen a striking trend: most major geopolitical moves, trade signals and domestic policy pushes appear to orbit a single strategic axis—oil.What once sounded like campaign rhetoric in the form of “drill, baby, drill” has now evolved into a structured economic doctrine, where energy dominance is not just a…
MUMBAI: RBL Bank reported a net profit of Rs 230 crore for the quarter ended March 31, 2026, up 234% from Rs 69 crore in the corresponding quarter a year earlier, driven by higher income and lower provisions.Total income rose 7% year-on-year to Rs 2,740 crore, supported by steady growth in both interest and non-interest…
एक्सिस बैंक की ब्याज से कमाई बढ़ी Axis Bank reported a net profit of Rs 7,071 crore for the fourth quarter ended March 31, 2026, marking a marginal year-on-year decline of 0.6% from Rs 7,117 crore, as a jump in standard-asset provisioning as a prudential measure and drop in trading profits offset steady growth in…
Shares of Nvidia surged to a record high on Friday, pushing its market capitalisation past $5 trillion for the first time since October, as investor enthusiasm for artificial intelligence chips gathered pace ahead of key earnings from major tech firms.The stock climbed 4.3% to close at $208.27, marking a strong comeback after a weak start…
O2C Division Hit Hard By Rising Costs, Supply Chain Disruptions MUMBAI: Reliance Industries, India’s most valuable company by market capitalisation, posted a 9% fall in quarterly profit on Friday, as surging crude prices driven by the West Asia conflict weighed on its core oil-to-chemicals (O2C) division.Consolidated net profit fell to Rs 20,589 crore in the…
RBI cancels Paytm Payments Bank licence; to approach High Court MUMBAI: RBI on Friday cancelled the banking licence of Paytm Payments Bank with immediate effect, prohibiting it from carrying out any banking business and setting in motion the process for winding up, even as the entity had already been reduced to a runoff institution after…
BENGALURU: Headcount is passé, outcomes are the new currency. India’s top five IT services firms witnessed net workforce contraction in FY26, reversing the modest hiring recovery a year earlier, as demand uncertainty, delayed decision-making and AI-led efficiency gains weighed on headcount.The traditional fresherheavy pyramid is being reshaped. A people-plus-AI model is upending its foundation, putting…
PUNE: Union Finance Minister Nirmala Sitharaman on Friday said that banks should continue to have a human interface while serving the customers despite the massive continuing thrust on digitisation.“Digitisation should happen. It brings in greater inclusivity. But as this digitisation is happening we should ask ourselves whether we are getting distant from our customer base,”…