Financial Services

Financial Services news section.
20.Apr.24 8:20 PM

Addressing the Challenges of an Aging Population and Declining Birthrate

Japan's public pension system, a cornerstone of the nation's social security framework, is facing an unprecedented challenge due to the rapidly aging population and declining birthrate. These demographic shifts have placed immense pressure on the system's financial sustainability, necessitating a comprehensive reform to ensure its long-term viability.
20.Apr.24 3:44 PM

Beyond Numbers, a Call for Inclusive Development and Strong Institutions

India's projected rise to the world's third-largest economy by 2029 should not be celebrated as it remains a poor country with a per capita income of only $2,600. Former Reserve Bank Governor D Subbarao emphasizes the need for inclusive and equitable development to address poverty and inequality, and highlights the importance of rule of law, a strong state, accountability, and independent institutions for becoming a truly developed nation...
20.Apr.24 2:58 PM

Zomato Fined with Rs 11.81 Crore GST Demand and Penalty Order

Zomato, the popular food delivery company, has been slapped with a GST demand and penalty order of Rs 11.81 crore for the period of July 2017 to March 2021. The order, issued by the Additional Commissioner of Central Goods and Services Tax, Gurugram, pertains to export services provided by Zomato to its foreign subsidiaries.
20.Apr.24 1:27 PM

HDFC Bank Reports Strong Financial Performance for January-March Quarter

HDFC Bank, the country's largest private sector lender, reported a significant increase in standalone net profit, net interest income, and core net interest margin for the January-March quarter. The bank's consolidated net profit also showed a robust growth, with an increase in net revenue and non-interest revenue, although operating expenses rose as well.
20.Apr.24 12:41 PM

Pakistan Seeks IMF Bailout as India Takes Tough Stance

Pakistan has requested a $6 to $8 billion bailout package from the IMF along with the possibility of additional climate financing. The country, facing challenges like worsening external buffers and high debt repayments, is in Washington for discussions on the bailout, while India has taken a firm stance on the IMF's assistance to Pakistan.