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Punjab National Bank

India Business News: MUMBAI: Credit growth continued to outpace deposit mobilisation for Punjab National Bank, Union Bank of India and IDFC FIRST Bank at the end of the Ma.

Mumbai: The Bombay high court declined a plea by an accused that sought to make Punjab National Bank (PNB) an additional accused in the case where Git.

New Delhi, March 27 : India will see a slew of financial and regulatory changes with the beginning of the new fiscal year on April 1, 2026, affecting taxes, fuel, banking and rail travel. The Income Tax Act 2025 will replace the Income Tax Act 1961, simplifying terminology by using the word “Tax Year” instead of erstwhile confusing words ‘Assessment Year’ (AY) and ‘Previous Year’ (PY). Under the new tax regime individuals earning up to Rs 12 lakh annually will pay zero tax due to the increased rebate under Section 87A. Form 16 and Form 16A will be replaced by Form 130 and Form 131 from April 1. The issuance timelines will be amended to facilitate smoother compliance and provide clarity in tax filings. Income Tax Department will no longer accept Aadhaar alone as the proof of date of birth for PAN applications, with documents such as a Class 10 certificate and passport being required. The Indian Railways will now allow refunds if tickets are cancelled within 8 hours of departure, revised from earlier deadline of 4 hours before departure.

Fugitive diamantaire Nirav Modi suffered a setback after the London High Court on March 25 rejected his plea to stall extradition to India. Meanwhile, assets of his firm Firestar Diamond, seized in the Rs 14,000-crore PNB fraud probe, will be auctioned on April 27.