Business

EPFO has an official WhatsApp channel for PF updates; here’s how to join and get educational information on EPF advance withdrawals and more

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Besides sharing updates, the EPFO WhatsApp channel also provides members with educational content. The Employees’ Provident Fund Organisation (EPFO) has been taking steps to keep members informed and allow access for more information digitally. As part of this effort, the retirement fund body has asked members to follow its official WhatsApp channel for the latest … Read more

India Retail Inflation: India’s retail inflation rises to 4.82%, wholesale inflation climbs to 9.92%

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Food and fuel push India inflation higher as CPI rises and WPI nears 10% (file photo) India’s retail inflation accelerated in August, while wholesale inflation moved closer to double digits, pointing to renewed price pressures across food, fuel and manufactured goods.Consumer Price Index (CPI)-based retail inflation rose to 4.82% in August, from 4.45% in July, … Read more

Rishikesh-Karnprayag railway line project for Char Dham connectivity boost hits 41 tunnel breakthroughs; RVNL completes 10.847-km Escape Tunnel 1, with 5 more expected within a year

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The completion is particularly significant given the difficult geological conditions along the Himalayan alignment. (Image for representative purpose only) The 125 kilometres long Rishikesh-Karnaprayag new railway line, which is currently under construction, has achieved a major milestone with a new tunnel breakthrough. Rail Vikas Nigam Limited (RVNL), which is the implementing body for the project, … Read more

Nitin Gadkari says FASTag lifted toll income by Rs 7,000 crore to over Rs 82,000 crore; full barrier-free rollout by March 2027 could bring government up to Rs 25,000 crore a year

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FASTag adoption has already increased toll collections by 10%, or around Rs 7,000 crore. (Image for representative purpose only) Soon, you will be able to travel barrier free across the country with FASTag making the barrier-free tolling system a reality. The full implementation of the electronic toll collection system FASTag could generate an annual benefit … Read more

In 2014, India’s forex reserves were just over $300 billion; 12 years later, amid US-Iran war, they hit a lifetime high of $785.71 billion after a record $44.9 billion weekly jump

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Before the war began at the end of February, India’s foreign exchange reserves had already reached a record level. Amid the US-Iran war, India has achieved its highest foreign exchange reserves ever. Back in 2014, India’s forex reserves were around $300 billion. Since then, they have then risen most years, with the last few years … Read more

Businessman paid Rs 6.42 lakh for foreign business travel using wife’s card and then reimbursed her; taxman disallowed it, ITAT Mumbai says nothing in law bars it

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The individual said he reimbursed his wife after returning to India. (Image for representative purpose only) You incur business expenses on your wife’s credit card and reimburse her. But the tax department raises an objection. This is what happened with a Mumbai-based business man, who then won partial relief from the ITAT.The Income Tax Appellate … Read more

Petrol powers half of new cars if hybrids not counted

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NEW DELHI: Alternative-fuel vehicles may have overtaken petrol cars in India-but only if hybrids are counted as alternatives. FADA’s Aug registration data showed petrol’s share of passenger-vehicle retail declining to 40.8%, while CNG, electric and hybrid vehicles together reached 41.9%.The crossover appeared to mark a significant change in India’s fuel mix, with alternatives moving ahead … Read more

RBI: Only disputed amount can be frozen under new norms

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Mumbai: RBI has proposed a new framework under which banks will temporarily freeze only the disputed transaction amount, rather than the entire account, when unusual transfers of Rs 1,000 or more are flagged as potentially linked to mule accounts or cyber fraud.Banks will be required to use AI-based transaction monitoring systems to identify transfers that … Read more

Oil infra hit by Ukraine, Russia gets 70% of its fuel from India

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NEW DELHI: As Russian refineries came under attack from Ukraine, damaging energy infrastructure and crippling domestic fuel supplies, Moscow imported a record 172,000 tonnes of oil products in Aug, with nearly 70% of it coming from India, Centre for Research on Energy and Clean Air (CREA) has said in its monthly report.India, however, remained the … Read more