To digitise Customs processes, the Union finance ministry is planning to integrate the Indian Customs Electronic Gateway (ICEGATE), Risk Management System (RMS), and Indian Customs Electronic Data Interchange System (ICES) into a single unified national Customs platform, according to government sources.
The latest move removes one of the key friction points for visitors, temporary liquor permits, while allowing licensed hotels and restaurants operational flexibility.
The Enforcement Directorate (ED) and Income Tax (I-T) Department are likely to join the Assam Police in investigating alleged organised financial crimes and acquisition of benami properties by event manager Shyamkanu Mahanta, an accused in the death of Assam's cultural icon Zubeen Garg.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
With more than 1.2 million Indians stuck in green card backlogs, investor-driven EB-5 programme sees rising interest as a secure route for migration to the US.
Amit Shah seemingly encouraging AIADMK dissident Sengottaiyan after party boss Edappadi K Palaniswami had removed his one-time mentor from all party posts has not gone down well with party cadres. They are now ready to buy Team EPS' theory that the BJP and Amit Shah are out to liquidate the AIADMK, points out N Sathiya Moorthy.
'They wanted the city to be a great business hub. They didn't like the fact that taxes collected in Bombay would go outside the city.'
'It is good for us if the JMM contests. That will divide the Opposition and give us the upper hand.'
First things first: For those wondering if they need to reapply, the answer is no.
Rajbaris are a link to Bengal's rich past, of grand mansions, classical fine dining, and allow guests to be pretend zamindars for those few hours or days that they stay.
Isn't there something significant in the UPI example for all of us to learn from and execute to enable world-scale success for our startups?, asks Ajit Balakrishnan.
The finance ministry on Friday amended the foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme (LRS). The amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, will be effective retrospectively from May 16, the ministry said in a notification. "...the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India" will not be covered under LRS, the notification said while inserting Rule 7 in the FEM (CAT) Rules.
By June 2025, financial freedom will be just an ATM away. Pleasantly surprised? But there's more, says Ramalingam Kalirajan
The central government has given banks and credit card entities six to eight months to put in place the requisite reporting mechanism and related features to collect tax at source on international credit card transactions, a senior bureaucrat told Business Standard. According to the bureaucrat, the plan to bring overseas credit cards under the Liberalised Remittance Scheme (LRS) has not been mothballed and is simply being deferred so that banks get adequate time to get the system up and running. The official expects the reporting mechanism to be ready in the given time, and the rule could be implemented in the next financial year (2024-25, or FY25).
'This victory would mean a huge inspiration for the next generation who can say that coming from India I can be anybody I want to be if I work hard and acquire the right skills.' 'They could be the next President, members of the Senate, or another Sundar Pichai.'
The Union finance ministry on Thursday issued a clarification on the changes in FEMA rules which brings overseas international credit card spending under the RBI's liberalised remittance scheme (LRS). Here's how it affects you.
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
Ramalingam Kalirajan offers some easy steps to reactivate your accounts with banks like SBI, HDFC Bank, IDFC First Bank and PNB just so that you can start availing all the benefits linked to your account.
'Any earnings, regardless of location, will be subject to Indian income tax.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
Vatsal Ramaiya draws wisdom from the Bhagvad Gita and correlates it to how you can build a decent corpus to achieve a peaceful retirement.
In a huge relief for H-1B visa holders, a White House-backed bipartisan deal has been unveiled under which automatic work authorisation would be granted to about 100,000 H-4 visa holders, who are spouses and children of a certain category of H-1B visa holders. The National Security Agreement that was announced on Sunday after long negotiations between the Republican and the Democratic leadership in the US Senate also provides a solution to about 250,000 aged-out children of H-1B visa holders. The move comes as good news for hundreds and thousands of Indian technology professionals who are waiting in a painstakingly long wait for a Green Card, in the absence of which their spouses cannot work and their aged-out children face the threat of deportation.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
'Try to obtain a secured personal loan or credit card by offering some collateral, such as a fixed deposit or gold.' 'Not only will this improve your eligibility, but the lender may even offer a lower interest rate.'
India and Saudi Arabia on Monday called on states to reject the use of terrorism against other countries and prevent access to weapons, including missiles and drones, to commit acts of terror.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
'You should be able to juggle them, extract the most rewards out of them, and most importantly, be able to repay your dues on time.' 'However, you shouldn't try to get multiple cards at once,' advises Adhil Shetty, CEO, BankBazaar.com.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
Here are 5 ways you can get a credit card even if you do not have a job.
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
Banks have started charging customers for payment of credit card bills through cheque and so paying online makes more sense.
Nowadays, our politics is habituated to sitting on a high pedestal, hobnobbing with world leaders, generating impressions of a superpower and returning to earth for the purpose of winning elections. In contrast, the yatra never left earth, observes Shyam G Menon.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
'Who you know today will determine who you know tomorrow.' 'Becoming an expert in your domain will incentivise others to have you in their networks.' 'And the more diverse your network, the better it is.' An enlightening excerpt from Ambi Parmeswaran's All The World's A Stage: A Personal Branding Story.
The opposition party also claimed that the Modi 2.0 dispensation has turned out to be an "economic and political disaster" and "constant rollbacks" of economic decisions will lead to worsening of the economic situation.
'This is the first time that the Americans have agreed to refer to "cross-border terrorist attacks" in a joint statement.' 'No wonder Pakistan has called the joint statement "singularly unhelpful" and has blasted it, and its all-weather friend China has applauded Pakistan's frontline role in combating terrorism,' points out former foreign secretary Ambassador Kanwal Sibal.
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