Finance-Economy-News-The Economic Times - Seite 4 
RBI building more digital payments intelligence platforms to empower users: ED
The Reserve Bank of India is building advanced digital platforms. These platforms will use artificial intelligence and APIs to improve customer service. They will also make payment systems stronger. The central bank aims to automate grievance handling for digital transactions. This will save time and resources. Interoperability between systems is key for a smooth user experience.
The Income Tax department's e-filing portal will manage compliance for both old and new Income Tax Acts. Proceedings for earlier years will continue under the old law until finalized. The new Income Tax Act, 2025, replaces the 1961 Act from April 1, 2026. This transition ensures seamless operation of both legislative frameworks.
India bank liquidity sees first big deficit of 2026 on tax outflow, lack of RBI support
India's banking system faces a significant cash shortage for the first time in 2026. Heavy tax payments and central bank currency market actions have drained funds. This has pushed borrowing costs higher. Experts anticipate conditions to improve by month-end. Year-end government spending is expected to ease the deficit.
New I-T Act framework notified; taxpayer relief with stricter compliance from April 1
New Income Tax Act rules are now in effect from April 1. These rules offer relief to taxpayers with increased house rent allowance limits in major cities. Employer-provided benefits like food coupons and cars are also expanded. Stricter disclosure requirements are introduced for businesses and professionals. Auditors and companies face greater responsibility in this compliance-driven regime.
Government unveils Rs 20000 crore credit guarantee plan for MFIs
The government has announced an ambitious Rs 20,000 crore credit guarantee scheme targeting microfinance institutions, a lifeline for those grappling with funding challenges. This program not only seeks to ease liquidity constraints but also aims to invigorate credit distribution within the sector, specifically helping small and medium NBFC-MFIs.