Rupiah Slumps on Scaled-Back Tax Hike Even as Finance Chief Downplays Deficit

Rupiah Slumps on Scaled-Back Tax Hike Even as Finance Chief Downplays Deficit

Source: Live Mint (Bloomberg) — Indonesia’s rupiah slumped nearly 1% after President Prabowo Subianto’s surprise decision to scale back a tax hike, prompting the finance minister to talk down concerns over the country’s fiscal health. After second-half revenues recovered, the 2024 budget deficit will likely come in much lower than the official estimate, Finance Minister…

Read More
NEFT, RTGS update: RBI introduces name lookup facility to verify beneficiaries | Know details | Mint

NEFT, RTGS update: RBI introduces name lookup facility to verify beneficiaries | Know details | Mint

Source: Live Mint NEFT, RTGS update: The Reserve Bank of India (RBI) will introduce the beneficiary account name look-up facility for the Real Time Gross Settlement (RTGS) System and National Electronic Funds Transfer (NEFT) System. The proposed facility will help rectify instances where the remitters transferred funds to the wrong beneficiary, thereby reducing the number…

Read More