Exchanges will have to facilitate a more direct interface between clients and the clearing corporation, bypassing intermediaries such as brokers, under this new proposed framework.
The OF saga has led to sex-workers looking at cryptocurrency as an alternative, notes Devangshu Datta.
Smith's player of the match effort of 211 and 82 runs in the two innings has lifted him to 937 rating points, only 10 less than his all-time best aggregate achieved in December 2017.
The payments industry is at a crossroads with the banking regulator on two pressing issues, neither of which seems headed towards an amicable solution. Depending upon which side accommodates the other, customers in India will have to choose between convenience and ironclad safety. In the end, the Reserve Bank of India (RBI), which regulates both banks and all payments services providers, will prevail. But the question is: will it do so by bending a little or by sticking to its firm stand? The two issues - one concerning payment facilitators storing customers' card details and the other about auto-renewal of payments - appear similar but aren't.
Reserve Bank of India (RBI) Governor Raghuram Rajan spoke on a host of issues at his last post-policy interaction with the media
Rajneesh Gupta presents all the interesting numbers from Day 4 of the India-England Test at Trent Bridge.
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
Both are focused on the overall transportation business, in which taxi services are only a part; the extended ambit includes autos, motorbikes, cycles, electric vehicles, water transport as well as food delivery services, says Surajeet Das Gupta.
The move is prompted by the disruption in the car usage pattern caused by the app-based ride-hailing companies such Ola and Uber
While margins contracted by 30 basis points on y-o-y basis, they fell a sharper 120 basis points on a sequential basis to 16.8 per cent. Profitability was impacted adversely due to subdued demand, tepid realisations in commodity sectors, and negative operating leverage.
The funds officially held by Indians with banks in Switzerland now accounts for only 0.07 per cent of the total funds kept by all foreign clients in the Swiss banking system.
Ahead of the peak festive season, India's passenger vehicle makers are staring at a cumulative order backlog of nearly 500,000 units as chip shortage continues to cripple production. The crisis is forcing companies to change their production plans frequently and take a call on the variants they can manufacture based on the availability of semiconductors. The booking numbers are not a true reflection of demand, said manufacturers.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
The country's exports rose by 47.34 per cent to $32.46 billion in June on account of healthy growth in sectors such as engineering, gems and jewellery and petroleum products, even as trade deficit aggregated at $9.4 billion during the month, according to the data released by the commerce ministry on Friday. Exports in June last year stood at $22 billion and $25 billion in June 2019. In May 2021, the outward shipment was worth $32.27 billion, while in April this year, it was $31 billion. Imports in June 2021 grew by 96.33 per cent to $41.86 billion, from $21.32 billion in June last year. In June 2019, imports stood at $41 billion.
India were placed at the top of the medals tally with two gold, one silver and a bronze.
After electronics and fashion, the next retail segment is food business.
Remittances growth is muted due to "structural" reasons which will hamper consumption demand locally, a report said on Thursday. "...the muted external remittances growth is more of a structural issue than transitory," India Ratings and Research said in its note. India has been the largest recipient of remittances from its diaspora spread all across the world and received over $70 billion inflows last year. The agency argued that flows had started to moderate even before the COVID-19 pandemic outbreak, pointing out that as a percentage of gross disposable income, the share of remittances fell to 2.5 per cent in FY19 as against 3.5 per cent in FY10.
Moudgil finished second on the podium behind Korean Hana Im (251.1) and ahead of bronze-medallist Eunhea Jung (228.0), another Korean.
The luxury car market leader will be producing the new-generation cars, sedans, SUVs, and AMG performance cars at one facility.
Instead of relying on technology that is not in their control, businesses should stop using SMS based OTPs and start using other software-based or hardware-based token authentication, which are in their control, says Venkata Satish Guttula.
Bihar, Jharkhand and Uttar Pradesh have emerged as the poorest states in India, according to Niti Aayog's first Multidimensional Poverty Index (MPI) report. As per the index, 51.91 per cent population of Bihar is poor, followed 42.16 per cent in Jharkhand, 37.79 per cent in Uttar Pradesh. While Madhya Pradesh (36.65 per cent) has been placed fourth in the index, Meghalaya (32.67 per cent) is at the fifth spot. Kerala (0.71 per cent), Goa (3.76 per cent), Sikkim (3.82 per cent), Tamil Nadu (4.89 per cent) and Punjab (5.59 per cent) have registered the lowest poverty across India and are at the bottom of the index.
'Two esteemed foreign investors with huge funds are coming with us in our real estate and city development businesses.'
For South Africa, Rassie van der Dussen has advanced three slots to the sixth position, just one shy of his career-best, after scores of 34 not out and 52.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
Cheque payments will be safer; the limit for contactless card transactions hiked.
The group, headed by former RBI deputy governor H R Khan, has also pitched for liberalised investment cap, review of prohibited sectors for foreign investment for FPIs, permitting FPIs for off-market transactions and review of restriction on sovereign wealth funds for investment in corporate debt securities.
Ace marksman Gagan Narang on Monday opened India's account in the London Olympic Games by clinching the bronze medal in the men's 10m Air Rifle event in London.
Even as the semiconductor shortage has limited the demand for new cars, the pre-owned car segment is seeing a surge. A preference for personal mobility, availability of multiple organised online platforms, including e-commerce channels, aggregators, and classifieds, have been fuelling growth. The growth rate of the pre-owned car market is expected to be 1.5x that of the new car market over the next five years.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
Banks are set to sell dud-loans worth Rs 90,000 crore of 22 firms in the first tranche to the National Asset Reconstruction Company (NARCL). It's reason for cheer given that such sales to asset reconstruction companies (ARCs) have been poor in recent times. In fiscal 2020, their assets under management (AUM) contracted by 4 per cent; and in fiscal 2021, it fell by another 100 basis points to Rs 1.07 trillion. So, why are we where we are?
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
Finance Act, 2019 has made it mandatory for certain categories of taxpayers to file their ITR, even though their income may be below the taxable threshold. read on to find the details.
The 21-year-old left-hander has gained 21 slots and reached 17th place, the joint-highest by a specialist India wicketkeeper along with Farokh Engineer, who did so in January 1973.
Economic performance is affected if large numbers of people are out of work, or at such low levels of income as to force under-consumption, observes T N Ninan.
ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries --Thailand, Dubai, Singapore and Hong Kong.
