Business

The Finance Ministry has proposed a simplified two-tier GST system with “standard” and “merit” slabs, aiming to reduce taxes on essential and aspirational goods. Linked to PM Modi’s Independence Day pledge, reforms target relief for citizens, MSMEs, and sustainable long-term growth

RBI pause reflects a wait-and-watch approach amid global uncertainties and the impact of the previous rate cuts

The government has passed four key amendments to the Income Tax Act, effective FY26. These cover sovereign fund exemptions, block assessment reforms, correction of a standard deduction error, and tax parity for the Unified Pension Scheme with the National Pension System

Cognizant will give salary hikes to about 80 per cent of eligible employees from November 1, with high single-digit increases for top performers in India. The move follows similar pay revisions by TCS, despite slowing bookings in early 2025

A PRF report says India can play a pivotal role in reshaping Southeast Asia’s semiconductor and rare earth supply chains amid US-China tensions. Ongoing ASEAN trade renegotiations and bilateral pacts could help counter Chinese dominance and strengthen regional partnerships

Cheaper food and fuel prices drive down wholesale and retail inflation; RBI projects CPI at 3.1 per cent for 2025–26

From October 4, 2025, RBI will mandate banks to clear cheques within hours instead of up to two days. The Cheque Truncation System will shift to continuous clearing in two phases, enhancing efficiency, reducing settlement risks, and improving customer experience

Bitcoin surged to a record \$124,210 before easing slightly, driven by expectations of US Fed rate cuts, Trump administration’s pro-crypto reforms, and institutional buying. Ether also hit a multi-year high as overall crypto market capitalisation crossed $4.18 trillion

From August 15, SBI will charge Rs 2–Rs 10 plus GST for online IMPS transfers above Rs 25,000, while smaller transactions stay free. Salary package account holders remain exempt. Branch charges are unchanged, and customers are advised to check applicable exemptions

Hyderabad’s premium housing market, led by properties priced at ₹1.5 crore and above, saw 8,205 units sold in H1 2025, accounting for 49% of total sales. Western suburbs dominate, while northern areas are emerging hotspots, JLL reports.

Shares of One97 Communications, Paytm’s parent, surged nearly 6% to a 52-week high after the RBI granted in-principle approval for Paytm Payments Services to operate as an online payment aggregator, lifting a 2022 ban on onboarding new merchants

Move also removes restriction on Paytm Payments Services Limited from onboarding new merchants which was imposed on the company on November 25, 2022

The RBI projects inflation at 3.1 per cent for 2025–26, with a likely uptick above 4 per cent by year-end.

They allege safety lapses, misleading public statements, and demand a time-bound probe from the Civil Aviation Ministry

Trade talks on the India-US bilateral agreement continues, with the sixth negotiation round scheduled for August 24 in India

India has expanded its ban on Bangladeshi imports via land ports to include more jute products, routing them only through Nhava Sheva seaport. The move, amid worsening ties, follows earlier restrictions on garments and processed foods, impacting $770 million in trade

Highway Infrastructure Ltd debuted on BSE and NSE with over 64% premium to its IPO price of Rs 70, valuing the firm at Rs 881 crore. The Rs 130-crore IPO, oversubscribed 300.61 times, funds tollway, EPC, and real estate operations

Tata Consultancy Services (TCS) has partnered with NOW Corporation’s telecom arm to develop the Philippines’ sovereign data cloud, strengthen digital infrastructure, and promote financial inclusivity, focusing on secure networks, cyber defence, healthcare, and digital banking under the Trusted Network Initiative framework

RBI Governor Sanjay Malhotra said banks can decide savings account minimum balances, after ICICI Bank raised requirements up to Rs 50,000 for new customers in metros, while penalties and deposit charges also increased, contrasting with SBI’s zero-balance policy

The government has pledged to safeguard farmers, exporters, entrepreneurs, and MSMEs as new US tariffs threaten over half of India’s merchandise exports. Calling the move “unfair,” New Delhi vowed to take all necessary steps to protect national interests

Finance Minister Nirmala Sitharaman told Parliament there is no proposal to restore the Old Pension Scheme for central government staff under NPS. Instead, the Unified Pension Scheme offers defined retirement benefits while ensuring fiscal sustainability. Household net financial position has improved

The RBI has proposed standardised forms and uniform procedures for settling claims related to deceased customers’ accounts and lockers within 15 days, including compensation for delays, to streamline processes and improve customer service across all banks

Customers of metro and urban branches must maintain a minimum average balance of Rs 50,000 under the new structure — up from the earlier limit of Rs 10,000

The Income Tax Department has released the ITR-5 Excel utility for AY 2024-25, enabling partnership firms, LLPs, and other eligible entities to file returns. Updates include MSME, startup, and crypto reporting provisions, with a September 15 deadline for non-audit cases