The review plea filed on May 10 said, "There are mistakes and errors apparent on the face of the impugned order..., and as such there are sufficient reasons which require review of the impugned order/judgment..."
Nothing is going to change in a hurry unless attitudes change and punishments are speedy and fair, notes Ramesh Menon.
The BCCI announced an initial list of 17 players who will be awarded yearly contracts.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
The idea of the payment banks is to provide access to banking for people, especially in rural areas.
A bench of justices B R Gavai and Sandeep Mehta told the petitioner's counsel that a coordinate bench of the apex court had last week delivered its verdict on the issue.
The highlights of the RBI's fourth monetary policy review of fiscal year 2022-23 announced by Governor Shaktikanta Das.
'A mule operates someone else's account to transfer illegal money.'
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
Uncertainties on account of COVID-19 pandemic have increased the demand for currency notes not only in India but across the globe, official sources said, dismissing the criticism that demonetisation has failed to reduce cash in the economy. Government sources said that growth of the digital payments system post-demonetisation will ultimately curb the dependence on cash. Official data points out a jump in digital payments through different modes, including plastic cards, net banking and Unified Payments Interface (UPI).
The rupee had lost more than 8 per cent since the first week of May, after the US Fed indicated it may start scaling back its monetary stimulus programme later this year.
With vehicular activity picking pace in May, toll collection also saw a huge uptick. Fastags posted an impressive jump of more above 400 per cent in transaction count at 55.17 million, and an over-300 per cent jump in value at Rs 1,142 crore.
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
Chief economic advisor V Anantha Nageswaran on Tuesday said Indian economy will grow at over 7 per cent, down from above 8 per cent of growth rate projected in January. He, however, said that the economic momentum and the animal spirits are "unmistakable". "India's own growth rates have come off the projections made in January down to about 7-plus per cent for the current financial year," Nageswaran said speaking at Global Fintech Fest event in Mumbai.
"Google, as part of its goal to allow shoppers to use their mobile devices, rather than physical credit cards, to pay for goods in retail stores, is working on a potential partnership with electronic-payments company VeriFone Systems Inc," The Wall Street Journal reported citing a source.
The BCB said it has often given additional incentives to its cricketers, topping up what has been due to them from the ICC prize money.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
The IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
Board president Jagmohan Dalmiya said an agreement with the players has been reached on major terms and conditions, but some fine-tuning is required.
Insurance companies may soon face goods and services tax (GST) audits as tax authorities plan a "deep dive" into their business practices to check for the possibility of a raft of tax-linked irregularities. Several insurance companies are being probed for wrongly availing of the input tax credit without the underlying supply of goods and services based on fake invoices generated by their channel partners and intermediaries. "We want to deep dive into the overall business and see if there are further taxation issues besides commissions, which are already being investigated," a senior official of the Central Board of Indirect Taxes and Customs said.
Net1's chief executive and chairman Serge Belamant said the Indian government was interested in the biometric verification technology that the company has been using in South Africa.
The disbursement of pensions to 58,275 defence pensioners was delayed this month as their banks could not confirm their identification by April 30, the ministry of defence (MoD) said on Wednesday.
The need for money among banks, especially for short-term funds, may turn more intense in the last month of the financial year to feed the demand for capital for tax payments and meet year-end targets. The mobilisation of funds via the certificate of deposits (CDs) has seen a threefold increase to over Rs 60,000 crore in the fortnight that ended February 23 from around Rs 20,000 crore in the fortnight of January 26, 2024, according to the Reserve Bank of India (RBI) data.
The government-backed Open Network for Digital Commerce (ONDC) is likely to start levying user charges in the current financial year.
As Google evaluates its response to two recent penalties slapped by the Competition Commission of India (CCI), here is a look at the app economy. Apps are bread and butter for mobile operating systems. India ranks second in the number of mobile downloads, with nearly 27 billion downloads in 2021, according to Deloitte. Accounting for 11.6 per cent of global app downloads, the Indian smartphone user spends over 4 hours a day on apps.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
Pronouncing the judgement, Justice Khanna said the court has rejected all the petitions, including those seeking resorting back to ballot papers in elections.
Given the high priority accorded to the manufacturing sector, several policy initiatives around the theme of Atmanirbhar Bharat have been set in motion to address its competitiveness and growth. Some notable examples include the PLI scheme and the employment-linked incentive scheme announced in the recent Union Budget. The Budget also announced the setting up of 12 industrial parks under the National Industrial Corridor Development Programme (NICDP).
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
Google on Friday said it is deferring the deadline for developers in India to integrate with its Play billing system from March 2022 to October next year. In October last year, the company had announced March 31, 2022 as the deadline for developers in India to integrate with Play's billing system. A Google spokesperson on Friday said the extension has been done in view of the changes to India's recurring digital payments guidelines.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
The Congress on Saturday attacked the Centre over a New York Times report which claimed that the Indian government bought the Pegasus spy tool in 2017 as part of a deal with Israel, alleging that the government indulged in illegal snooping using the spyware which amounts to 'treason.'
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Singh asserted that Deshmukh set a staggering collection target of Rs 100 crore for his officers, specifically from Mumbai, while also discussing plans to target key opposition figures, including former Chief Minister Devendra Fadnavis of the Bharatiya Janata Party.
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
Note ban hits sales and registration of new cars; states work online payments model to deal with cash crunch. Ajay Modi and T E Narasimhan report.
BCCI official says while the board has tightened the system further, issues raised by players are swiftly answered by the finance department.
Lavrov said a rupee-rouble payment system for trade with India was put into place earlier and it could be strengthened further.
