FINANCE ACT
NaBFID to be repositioned as a global financial institution
"The company was formed in a hurry with the idea of starting operations quickly, while branding the institution was not an immediate priority," said one of the persons cited above. "However, over the last few months, the government is keen to rename it to reflect the work undertaken by them," the person added. NaBFID was established under the National Bank for Financing Infrastructure and Development Act, 2021, and is 100% owned by the government.
$125 billion in 5 days: Fed quietly floods banks with cash again — what’s going on?
Fed just poured $125 billion into U.S. banks over five days. October 31 saw the biggest hit — $29.4 billion in one day. Banks swapped Treasuries for cash to ease funding stress. Bank reserves are at the lowest in four years, just $2.8 trillion. Fed Chair Powell talks tough on inflation but quietly floods banks with cash — this is called "stealth easing." Markets now bet there's a 67% chance rates get cut in December. This move is huge. Crypto markets love easy money, but some experts say not every dollar makes crypto boom. The cash flood is about keeping banks stable, not just printing money to pump markets.
Will meet fiscal deficit target of FY26: Finance Minister Sitharaman
Finance Minister Nirmala Sitharaman is confident the government will meet its fiscal deficit target of 4.4 per cent of GDP by March 2026. This commitment was made in Parliament. The focus will now shift to the debt-to-GDP ratio. The minister urged citizens to believe in India's economy and its people's achievements.
I built a house on inherited land, how will I be taxed if I sell it now?
My father purchased a plot in 2016 for Rs 50,65,000. I inherited the property as his sole heir and constructed a house. I am currently residing in this house. If I sell it now, how will the capital gains be taxed?
Pisces Horoscope Today, 4th November 2025: Ground emotions, channel energy wisely
Pisces Horoscope Today: The Moon in the Aries sign adds intensity to your usually calm emotional flow. You may feel driven to act quickly, but a thoughtful approach will serve you better. Trust intuition, yet keep practicality in close balance.
Aquarius Horoscope Today, 4th November 2025: Fresh ideas fuel decisive action today
Aquarius Horoscope Today: With the Moon in the Aries sign, your innovative mindset blends with assertive energy, inspiring bold decisions. You are likely to step into leadership effortlessly. Stay mindful. Not everyone will match your pace, so patience will help you maintain harmony.
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Capricorn Horoscope Today, 4th November 2025: Structured effort meets inspired breakthroughs
Capricorn Horoscope Today: With the Moon in the Aries sign, your disciplined nature may feel nudged toward bold action and quicker decisions. You should balance your caution with courage and trust the ideas that feel fresh yet grounded.
8th Pay Commission latest update: Govt forms 8th CPC, names chairperson, announces ToR and timeline
India's government has established the 8th Central Pay Commission, led by Justice Ranjana Prakash Desai, to review and recommend pay revisions for central government employees and pensioners. The commission will examine emoluments, allowances, and benefits, aiming for a rational and performance-oriented framework. Its report is expected within 18 months.
If HIRE Bill in US becomes reality, it will light a fire in Indian economy: Congress
A proposed US Senate bill could impose a 25 percent tax on payments made by American companies to foreign workers. This legislation, known as the HIRE Act, directly impacts India's IT, BPO, and consulting sectors. If passed, it may force a new economic reality for India's service exports. The bill reflects a growing US sentiment to protect domestic white-collar jobs.
Mortgage Rates today — experts say now may be the perfect time to refinance
Mortgage 30-year fixed rate today: Mortgage refinance rates have fallen to a favorable 6.11% for a 30-year fixed loan, presenting a significant opportunity for homeowners to save money. This decrease is driven by stabilizing economic conditions and cooling inflation, making it an opportune moment to consider refinancing for lower monthly payments or a shorter loan term.
ED attaches ₹7,545-cr assets linked to Reliance ADA group
The Enforcement Directorate has seized over 40 properties valued at ₹7,545 crore from the Anil Dhirubhai Ambani Group. This action is part of an investigation into the alleged diversion of public funds by various group entities. The attached assets include prime real estate in Mumbai and Delhi.
Can India's Mission LiFE transform climate action from talks to tangible results?
In the arena of global climate advocacy, India stands at the forefront, championing lifestyle adaptations and advancements in clean technology. Through Mission LiFE, traditional environmental practices are reinvigorated, while initiatives like PM Surya Ghar provide households with access to sustainable solar energy solutions. Achieving over 50% in non-fossil fuel capacity illustrates the nation's swift evolution.
GJEPC charts out $100-billion export vision for India’s gem and jewellery sector
India's gem and jewellery sector is targeting $100 billion in exports by 2047. The Gem & Jewellery Export Promotion Council presented policy reforms to Prime Minister Narendra Modi. These include affordable credit, customs modernisation, and a National Gem & Jewellery Park Policy.
Fresh blow to Anil Ambani: ED attaches 132-acre DAKC land worth Rs 4,462 crore; Reliance says no impact on business
Enforcement Directorate has attached over 132 acres of land at Dhirubhai Ambani Knowledge City in Navi Mumbai. The value of this attachment is ₹4,462.81 crore. This action brings the total attached assets in Reliance Group's alleged loan frauds to over ₹7,500 crore. The probe investigates alleged diversion of bank loans by Reliance Communications and other ADAG companies.
Torres Jewellery scam: PMLA court issues non-bailable warrant against 4, including 3 Ukrainians
A special PMLA court has issued non-bailable warrants against four individuals, including three Ukrainian nationals, in connection with the Rs 177 crore Torres Jewellery scam. The accused allegedly laundered money by converting cash collected from customers into cryptocurrency. The ED stated that the accused have deliberately evaded investigation by absconding.
He left his Rs 1.3 lakh per month job. Now he earns double the money. How he did it
A 26-year-old from Rajasthan left a secure corporate job to start a homestay business. After a year of hard work and learning from setbacks, his monthly income now exceeds his previous salary. His Airbnb earnings reached over ₹2 lakh, with total income surpassing ₹2.5 lakh. This achievement highlights the rewards of pursuing dreams and personal growth.
Anil Ambani's Reliance in ED storm; more than 40 properties worth ₹3,084 crore attached
Anil Ambani Reliance Goup: The Enforcement Directorate has frozen over 40 properties valued at more than ₹3,000 crore connected to Anil Ambani's Reliance Group. These attached assets include Anil Ambani's Pali Hill residence and various properties across major Indian cities. The ED's action targets entities within the group, with attachments made in Delhi, Mumbai, and other key locations.
Pisces Horoscope Today, 3rd November 2025: Intuition and emotions guide wise choices
Pisces Daily Horoscope: With the Moon in the Pisces sign, your emotional and intuitive powers are heightened, making this a deeply reflective and spiritually aligned day. You may feel more sensitive and imaginative today. Gentle pacing, self-care, and heartfelt communication bring harmony.
Amazon’s layoffs show how AI is coming for India
Amazon's global job cuts serve as a stark warning for India. Artificial intelligence now threatens jobs, wages, and the future of white-collar work. This impacts sectors beyond entry-level programming. India's large youth population faces significant challenges. Proactive government and corporate action is crucial to navigate this technological shift.
Taurus Weekly Horoscope (1st - 7th November 2025): The Stars Want You to Slow Down and Rebuild Strength
The Taurus Weekly Horoscope (1st–7th November 2025) highlights a period of grounding, reflection, and rebuilding inner strength. As Venus enters Scorpio and Mars shifts into Sagittarius, you’re guided to slow down, stabilize emotions, and nurture long-term growth. This week rewards patience, steady progress, and self-care — reminding Taurus that true power thrives in stillness and consistency.
Scorpio Horoscope Today, 2nd November 2025: Creative energy and emotions blend powerfully
Scorpio Daily Horoscope: With the Moon transiting Pisces, your emotional awareness, intuition, and creative instincts heighten. Today inspires imaginative thinking, deeper personal connections, and meaningful self-expression. Allow your feelings to guide you while maintaining clarity and balance.
He was earning Rs 1.7 lakh per month, yet had almost no savings: Finance expert’s alarming tale on client goes viral
Many young Indians with good salaries are saving nothing. They spend heavily on cars, gadgets, and lifestyle. This leaves them with no buffer for job loss or medical emergencies. Financial advisor Bhupendra Poptani highlights this trend. He urges building emergency funds and investing. Real wealth means control, not just earnings. This resonates with many professionals.
Jammu and Kashmir Assembly ratifies recent amendments to GST Act
The Jammu and Kashmir Assembly has ratified amendments to the Goods and Services Tax Act, aligning with recent GST Council decisions. Chief Minister Omar Abdullah presented the bill, which was passed via voice vote after a BJP MLA's proposed amendments were rejected by the Speaker, who cited the federal nature of the GST Act.
Ashish Kacholia, MS Dhoni Family Office-backed firm’s Rs 72 cr SME IPO to open on Nov 6. Check price band, other details
Finance Buddha, backed by Ashish Kacholia and MS Dhoni Family Office, will raise Rs 71.68 crore through its SME IPO to fund expansion, tech upgrades, and entry into new markets.
Secure your first-mover advantage at ET AI awards 2025 - early bird offer ends today!
As India’s AI arena rapidly transforms, today marks your final opportunity to claim the early bird advantage for the ET AI Awards 2025. From startups to industry giants, those who act now will set themselves apart, unlocking brand recognition, networking, and the strategic boost reserved for first movers. Don’t miss your shot at leadership and stake your claim before the window closes.
Italy's Bending Spoons raises $710 million at $11 billion valuation
Milan-based Bending Spoons has emerged as one of Europe's most prominent technology firms, with a strategy of purchasing struggling tech companies and revamping them. The valuation marks a steep increase on the figure of $2.55 billion after a capital raising in February 2024.
Cobrapost alleges Rs 41,900 cr fund diversion at Anil Ambani's group, Reliance group denies 'malicious' claims
Cobrapost has accused Reliance Group of a massive financial fraud of over Rs 41,921 crore. The investigative portal claims funds were diverted from group companies to promoter-linked entities and through offshore channels. Reliance Group has strongly denied these allegations, calling it a malicious campaign to crash stock prices. The group stated the report uses old, publicly available information.
OPT students may lose a crucial tax break under new US bill
A new US Senate bill, the OPT Fair Tax Act, seeks to end payroll tax exemptions for foreign students working under the Optional Practical Training program. This change could increase tax burdens for both students and employers. Indian students, a significant group in OPT, may see reduced take-home pay.
Government shutdown update: Flights pile up in US airports, military set to miss first paycheck - here's the latest
US government shutdown 2025:: The US government shutdown is now the second longest ever. Millions of Americans face disrupted travel and missed paychecks. Airports are seeing flight delays due to staff shortages. Federal workers, including air traffic controllers, are not getting paid. Congress remains deadlocked. November deadlines bring new pressures, with military pay and SNAP benefits at risk.
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