Amid mounting complaints from taxpayers over delayed income tax refunds for the assessment year 2025–26, the Income Tax Department has attributed the slowdown to a surge in ineligible deduction and exemption claims, urging affected individuals to file revised returns by December 31. The clarification comes as social media platforms and…
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Profits Surge, NPAs Decline: India’s Banks Strong
India’s banking sector is emerging from a decade of challenges with renewed strength, stability, and global confidence. Supported by reforms, digital transformation, and disciplined balance sheet management, the sector is delivering its strongest performance in years with record-low non-performing assets (NPAs), robust profitability, and sustained credit expansion. According to data…
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UPI Powers 49% of Global Real-Time Payments
New Delhi : India’s Unified Payments Interface (UPI) has been recognised as the world’s largest retail fast-payment system by transaction volume, according to international assessments cited in a parliamentary reply on 8 December 2025. The International Monetary Fund’s June 2025 note on growing retail digital payments acknowledged UPI’s scale, while…
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Gold price dips as dollar tops 100; MCX gold near ₹1,22,800
Gold prices on the Milti Commodity Exchange (MCX) slipped in early trade on Thursday after a stronger US dollar and the Federal Reserve’s October meeting minutes cooled expectations for a December rate cut. MCX December gold futures were trading around ₹1,22,768 per 10 grams in morning trade, while silver futures…
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Government Plans Mega PSB Merger to Strengthen Public Banks
NEW DELHI: The Indian government is considering a mega merger of public sector banks (PSBs) aimed at consolidating smaller lenders with larger state-run banks to strengthen the banking sector and support the next phase of credit expansion. According to a report by Moneycontrol, banks like Indian Overseas Bank (IOB), Central…
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ITR Filing Deadline 2025: No Extension Portal ‘Working Fine’
The Income Tax Department has confirmed that the deadline for filing income tax returns (ITR) for assessment year 2025–26 remains 15 September 2025. Amid heavy traffic and user complaints of glitches on the e-filing portal, the department clarified that the system is “working fine” and there will be no extension…
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ITR Filing Deadline 2025 Nears: Will Govt Extend the Date?
With less than 24 hours left before the Income Tax Return (ITR) filing deadline for AY 2025–26, taxpayers across India are racing against time. The Central Board of Direct Taxes (CBDT) had already extended the original due date of July 31 to September 15, 2025. Now, many are speculating whether…