Entities not needing GST registration but required to make tax payments can now obtain a Temporary Identification Number (TIN). This amendment, by the Central Board of Indirect Taxes and Customs, aids in smooth tax payments and reduces compliance burden. GST registration is typically mandated for businesses with specific annual turnovers in manufacturing and services sectors.
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Indian stock markets tumbled on Thursday, with Sensex closing below 80,000 and Nifty below 24,000 for the first time since late November. The sell-off, driven by hawkish US Fed statements and foreign fund outflows, wiped out Rs 3.8 lakh crore in investor wealth. Selling pressure was broad-based, with ICICI Bank, Reliance, and HDFC Bank leading the decline.
The All India Bank Officers' Confederation (AIBOC) plans a two-day nationwide strike from 24 to 25 February 2025, demanding a five-day workweek, sufficient recruitment, and resolution of long-pending issues. AIBOC criticized recent DFS directives, sought immediate withdrawal of performance-related guidelines, and urged the appointment of directors in PSBs.
Sterlite Power has introduced two new corporate brands, Resonia and Sterlite, following a demerger. Resonia focuses on transmission infrastructure, while Sterlite handles manufacturing and services for cables and conductors. The rebranding aims to better address market segments and enhance capabilities in the evolving energy sector.
For those investing in mid-cap stocks via SIPs, an investment horizon of at least eight years is necessary to ensure capital preservation, based on historical data from 2005 to 2025. Mid-cap funds have shown lower volatility and risks compared to small-cap funds, making a time frame of 8-10 years advisable for consistent positive returns.
Indian banks are predicted to see a 12.5% credit growth by FY 2025, according to an HSBC report. Despite GDP slowdown risks and tight liquidity, the retail loan sector showed positive momentum in November 2024, driven by demand for personal, home, and gold loans, with an uptick in credit to MSMEs and corporates.
Kristalina Georgieva, IMF managing director, predicts India's economy will be slightly weaker in 2025 due to global uncertainties, including US trade policies. While the US performs better, the EU stalls, and China faces deflationary pressures, India's GDP growth in 2024-25 is expected to slow to 6.4% amid manufacturing moderation, sluggish investment, and geopolitical tensions.
US asset management giant Capital Group has acquired a 5% stake in Sammaan Capital through a Rs 1,300 crore Qualified Institutional Placement (QIP) round. Along with other prominent investors like BlackRock and Marshall Wace, Capital Group's Smallcap World Fund's investment signifies a significant institutional presence in the Indian mortgage financing company.
The Confederation of Indian Industry (CII) urges the government to streamline regulatory approvals through a national single window system, integrate all central ministries, and simplify frameworks to boost ease of doing business. Key proposals include time-bound approvals, faster dispute resolution, and improved land access.
Chinese telecom equipment company TP-Link has entered into a partnership with Optiemus Electronics for local production. Optiemus, based in Noida, will manufacture a range of TP-Link's networking devices and smart home products, including GPON, security cameras, home Wi-Fi routers, enterprise routers, modems/gateways, and network expansion devices.
Solar capacity additions in the country will accelerate in the Financial Year (FY) 2026 and FY27, with 85-90 GW of new solar capacity expected to be added during these two years combined, according to a report by SBI Caps.