The central government and the Reserve Bank of India have devised a country-specific plan towards implementation of overseas trade in rupee, people aware of the matter said. To start with, a small number of banks will be allowed to manage cross-border transactions in domestic currency with a particular country. "Small countries that are dollar-deficient have shown interest in doing trade in rupee.
Cricket Australia might be headed for a showdown with the country's Players' Union, which has opposed the Don Argus Review's recommendation to have a performance-based model for deciding players' salaries.
As India and the United States are set to begin negotiations on two transformational deals -- Security of Supply Arrangement (SOSA) and Reciprocal Defence Procurement Agreement (RDP) -- the Pentagon has said that the defence industries of the two nations will come together once the negotiations conclude.
Global payment system company Visa International on Friday said all Visa debit cards issued in India will be protected against any monetary losses, liabilities or claims due to fraudulent use of the card in case it was lost, stolen or misplaced.
Modern technology is helping you use your mobile phone for all your banking activities. Very soon, your bank may become obsolete.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
The RBI Governor also reiterated his reservation against repeated loan waivers by various state governments, saying the move distorts credit pricing, thereby also disrupting the credit market.
While Bihar and J&K have the least proportion of bank account holders using debit cards at PoS machines, Telangana's record is the highest.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
Upgradation to the new product (from Infosys) will stabilise by this month-end
Americans from across all 50 states donated to President Trump's campaign within the first five hours of the "sham indictment", the statement said.
'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
The Economic Offences Wing of the Delhi Police has filed an FIR against former BharatPe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain for an alleged Rs 81 crore fraud after a complaint by the fintech unicorn. The FIR, a copy of which has been seen by PTI, was filed under eight sections of the Indian Penal Code, including 406 that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery). BharatPe in the complaint alleged that Grover and his family caused damages of about Rs 81.3 crore through illegitimate payments to bogus human resource consultants, inflated and undue payments through passthrough vendors connected to the accused, sham transactions in input tax credit and payment of penalty to GST authorities, illegal payment to travel agencies, forged invoices by Madhuri Jain and destruction of evidence.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
Daniels has said she had a sexual encounter with Trump at a Lake Tahoe hotel in 2006 - the year after he married his current wife Melania.
The Reserve Bank of India (RBI) on Friday said it will maintain comfortable liquidity conditions and conduct market operations in the form of outright and special open market operations. It will conduct on tap targeted long-term repo operations (TLTRO) with tenors of up to three years for a total amount of up to Rs 1 lakh crore at a floating rate linked to the policy repo rate.
Russia has almost completed the delivery of major components of the second regiment of the weapon systems.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
They all seem to forget that the Music Academy is as much an independent institution as T M Krishna is an individual musician. In drawing those red lines for the Academy management, they do not even seem to recognise that they too have crossed a red line themselves, points out N Sathiya Moorthy.
The BCCI officially announced that India's international women's cricketers will be brought under the ambit of gradation payment like their male counterparts as it was discussed at the recently held finance committee meeting in Delhi.
Benefits of demonetisation come at a heavy price for Fintech firms. They will spend a massive amount on securing and reinforcing their cyber security apparatus this financial year. Karan Choudhury reports.
The move would help in further promoting ease of doing business in the country.
The government must be the initial driver.
State Bank of India and Kingfisher Airlines on Monday launched a e-ticketing initiative for air travellers.
For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
Indian industry snubbed Google Play's decision to cut by half its commission for developers when they make $1 million in annual revenue for in-app purchases, saying the US tech giant may continue its "abrasive & monopolistic abuse" as it owns the Android system. Google Play said Tuesday that beginning July 1 it would slash its 30 per cent billing fee to 15 per cent for developers globally when they make the first $1 million of their annual revenue.
'We now understand things that we have to correct.'
Finance Minister Nirmala Sitharaman on Friday asked private sector companies to clear dues to small businesses within 45 days and admitted that the central departments and enterprises are also not making payments to them on time. She conceded that the Centre, states and state-owned enterprises too have outstanding dues to micro, small and medium enterprises (MSMEs). The minister said that at a meeting with big businesses here two days ago, she had appealed to them to ensure that the dues of small businesses, who are the backbone of the economy, are cleared on time.
Jaishankar said that India and Russia have a long-standing relationship that has certainly served New Delhi's interests well.
OVL, the overseas investment arm of state-run explorer Oil and Natural Gas Corporation, holds 40 per cent stake in the San Cristobal oil project in Venezuela.
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to join the grouping.
Through this mobile application, the handset will be used for authenticating biometrics of customers making Aadhaar enabled payment.
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
Indian Airlines has launched a 'pay smart' scheme in association with ICICI Bank to enable its passengers avail the benefit of deferred payment system during the period April 26, 2004 to March 31, 2005.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
When she does show up an hour into the movie, Alia's confidence is hard to miss, notes Sukanya Verma.
Central bank raises red flag, warns of potential risk
Food delivery firm Zomato Ltd said on Wednesday most stores of its grocery unit Blinkit had resumed operations after being shut following protests by delivery partners. "Over the last few days we have made changes in the delivery partner payout structure with respect to the Blinkit business to address the needs of delivery partners, improve customer experience and reduce cancellation/ order rejection frauds by few delivery partners in the system. "Such changes are done from time to time, as needed," said the company in a letter to the BSE.
