SBI and a group of private banks are poised to receive a tax exemption on ₹13,483 crore income from selling their stake in Yes Bank to SMBC. The Yes Bank Reconstruction Scheme, 2020, exempts banks from capital gains tax on profits from the share sale. This deal marks Japan’s largest bank’s entry into India.
Oil climbs following renewed US, Iran strikes in Middle East
Oil prices saw an uptick as renewed US-Iran tensions in the Middle East disrupted shipping through the Strait of Hormuz. Despite reports of a potential