The Reserve Bank will launch the first pilot for retail digital rupee in Mumbai, New Delhi, Bengaluru and Bhubaneswar on December 1, and later expand it to nine more cities in the initial phase. This follows a month after the RBI had started a pilot in the digital rupee - wholesale segment on November 1. The Reserve Bank announces the launch of the first pilot for retail digital rupee (e?-R) on December 1, 2022, the central bank said in a statement on Tuesday.
Ahead of the state assembly elections due this year-end, Baghel made as many as 15 announcements in his address during the state-level Independence Day function at the Police Parade ground in Raipur.
Keep your mobile number and e-mail updated. When you receive the weekly report on cash holdings, check to ensure there is no discrepancy between the amount you have kept with the broker and what the latter has reported, advises Sanjay Kumar Singh.
'The corruption charges in FCI are not the first and won't be the last.'
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
The seizure, as per officials, is estimated to be worth over Rs 10 crore in the international market (about Rs 5K-7K per blot) and all the six who have been taken into custody, beginning late last month, are students and youngsters who wanted to make 'easy money' by remaining anonymous within the deep layers of secret internet-based apps and messenger service like WICKR.
The Bombay high court on Tuesday dismissed a public interest litigation seeking a disproportionate assets case against former Maharashtra chief minister Uddhav Thackeray and his family, observing that it sought a "roving enquiry".
Prime Minister Narendra Modi owns assets worth over Rs 2.23 crore, mostly as bank deposits, but has no immovable properties as he has donated his share in a piece of land in Gandhinagar, according to his latest disclosure about assets.
On November 8, Sharma's wife Kiran, who was pregnant, was admitted to the nursing home for tests, including sonography. She was expected to deliver a baby around December 7. On November 9, Kiran went into labour prematurely and gave birth to a boy at home before she could be taken to hospital. Afterwards the mother and the boy were rushed to the nursing home.
The comments came in backdrop of the political crisis in Karnataka after some Congress-Janata Dal-Secular MLAs resigned and the 10 party legislators in Goa joining the BJP.
The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
Against estimates of black wealth of Rs 300 lakh crore and black money in cash of Rs 3 lakh crore by economist Arun Kumar, the PMGKY numbers fall short by a huge margin.
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
Debt funds typically held 0-5 per cent of their portfolio in cash and cash equivalents before this Sebi diktat.
'In the total of black wealth, only 1% or less than 1% constitute cash.' 'So, even if cash is completely weaned out, it impacts only 1% of the black wealth.'
A day after the Reserve Bank of India's (RBI's) Monetary Policy Committee hiked the policy repo rate by 50 basis points (bps), several commercial banks, including ICICI Bank and Bank of Baroda, raised their external benchmark-linked loan rates by an equal amount on Thursday. HDFC, the country's largest mortgage lender, too, increased its interest rates on housing loans by another 50 bps. In total, it has raised rates by 85 bps since May 4, when the RBI had increased the repo rate by 40 bps in an off-cycle meeting.
Lifting of deposit withdrawal moratorium on March 18 could open flood gates and will require a calibrated approach along with active support and signaling from the RBI, government and investor banks.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
The BJP chief also came down heavily on the Congress, which had seized on the report to attack him as well as Prime Minister Narendra Modi.
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
The Reserve Bank Officers Cooperative Credit Society, which caters to the credit needs of RBI officers posted all over India, has a fixed deposit of Rs 105 crore in the bank on which the RBI has placed various curbs for six months following revelations of irregularities.
'Too many things happen in India... that is the root of the problem, not Raghuram Rajan'
Prime Minister Sharif will be visiting Beijing with a high-powered delegation from November 1, 2022, where minutes of the joint coordination committee meeting will be signed.
The Supreme Court will hear on October 12 a batch of pleas challenging the Centre's 2016 decision to demonetise currency notes of denomination Rs 500 and Rs 1000.
The agency also alleged that Deshmukh exercised undue influence to pass favourable transfers and postings of the police officials.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
A 40-year-old freelance journalist has claimed a person 'hypnotised' him over the phone and duped him of Rs 40,000, but police and experts said this is one of the 'most normal kinds of cyber fraud' and not a case of hypnosis.
Sushil Chandra will conduct the UP, Punjab, Goa, Manipur, Uttarakhand elections before he retires in May 2022.
Readers share their bitter-sweet experiences at the ATM.
'The money is readily available to the depositors.'
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
Concerned over inflationary pressures in the economy, the Reserve Bank of India (RBI) is bringing down surplus liquidity in the system rapidly. It has fallen to pre-Covid levels and almost 2 per cent of banks' net demand and time liabilities (NDTL). NDTL shows the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the deposits in the form of assets held by the other bank.
ICICI bank waives ATM charges.
Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Image used for representational purpose only. Photograph: Jayanta Dey/Reuters The Congress also said demonetisation has come a full circle and added that the Rs 2,000 note was a "band-aid to cover up the foolish decision of demonetising" Rs 500 and Rs 1,000 notes.
YSR Congress MP Goddeti Madhavi has declared assets of just about Rs 1 lakh whereas the BJP's Pragya Singh Thakur, at 4th poorest, is worth Rs 4.44 lakh.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
