The approval for provisioning of Rs 20,000 crore as subordinate debt to provide equity support will benefit 2 lakh stressed MSMEs.
The Swiss National Bank, the country's central banking authority, has estimated the funds currently held by Indians in Swiss banks at a mere $1.98 billion. Fear of disclosure due to greater scrutiny of this illicit wealth has played the main role in the flight of capital.
Addressing chartered accountants on the foundation day of the Institute of Chartered Accountants in India, Modi also said CAs should take a pledge to bring people in the tax bracket rather than boasting about the number of clients they have saved from paying taxes.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
Concluding the three-part series, Paranjoy Guha Thakurta says that the black money law is likely to fail because of the ineptness of India's investigative and enforcement agencies.
The RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
Geo News channel quoted intelligence sources as saying that at least four terrorists, wearing suicide vests and carrying automatic weapons, were involved in the attack.
Meeting the disclosure norms isn't very easy.
Some of the letters exchanged between the arrested activists spoke of planning 'some big action' which would attract attention, Singh said.
Enforcement Directorate is jointly probing the case.
There has also been some easing of norms, allowing foreign direct investment to come into relatively small projects of 20,000 sq metres.
The government will initiate fresh action against Walmart if an ongoing 'foreign corrupt practices' probe by US authorities reveals any violation in India by the global retail giant.
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
Within the next two years, verification and scrutiny of returns will happen electronically through anonymised back offices manned by tax experts and officials. It will function without any personal interface between taxpayers and tax officers. Both the taxpayer and the tax officer will not know each other -- who is scrutinising whose return, and at which place, points out Kuldip Kumar, partner and leader personal tax, PwC.
'The amount involved could as high as Rs 3,500 crore as there are a lot of depositors.' 'Yesterday, I met an investor who put in Rs 4 crore. That man doesn't have Rs 2,000 to spend on medicines.'
Switzerland's Ambassador to India Linus von Castelmur also said the past cannot be undone, while promising full support of his country in cases where at least some proof is provided on tax frauds.
California-based Mendocino Brewing Company, which sells a number of beer brands including Kingfisher in the US, has got Mallya as its chairman and is owned by UB Group through a complex shareholding structure
Ceasefire violations by Pakistan Rangers continued on Thursday with 60 Indian border outposts and over 80 villages coming under mortar shelling and firing in Jammu, Samba and Kathua districts along the International Border.
Websites that compare product prices and offer cashback can help you get attractive deals and discounts.
'Hopefully, people will understand that, beyond medical vaccination plans, in the future we will also need to implement some 'social inoculation' plans.'
'I think investors see a lot of positives happening in India now.'
The ISRO is aiming for a soft landing of the lander in the South Pole region of the moon where no country has gone so far.
'Whatever the reforms the Supreme Court has approved for BCCI, it won't be possible to implement it all.'
The Enforcement Directorate has managed to sniff out over Rs 9,000 crore as suspected haul from money laundering in a decade, but it has yet to link those against anyone successfully in a court.
Unless the judges factor in the ungovernability of technologies and their beneficial owners, present and future Presidents, prime ministers, judges, legislators and officials handling sensitive assignments may become redundant with reference to their age-old roles for securing 'national resources and assets', warns Dr Gopal Krishna.
This is the lowest amount of funds held by Indians in the Swiss banks ever since the Alpine nation began making the data public in 1997.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
'Terrorism is merely a symptom of a deeper disease in Pakistan's body politic,' says Colonel Anil A Athale (retd).
Law Minister Ravishankar Prasad tells Rediff.com that the government have decided to repeal 36 obsolete laws immediately, but many more will be added to this list in the coming months. The minister also informs that this exercise was undertaken on the instructions of Prime Minister Narendra Modi who had flagged the issue soon after he took charge. Rediff.com contributor Anita Katyal reports.
The fund industry may have embraced machines and robots, but managing money still needs the human touch
The soul of India resides in pluralism and tolerance. This plurality of our society has come through assimilation of ideas over centuries. Secularism and inclusion are a matter of faith for us. It is our composite culture which makes us into one nation.
Credit is relevant in the short run but what actually matters is productivity in the long run.
The President said Indian economy grew at 5.7 per cent during the first quarter of 2014-15.
Getting US citizenship will in no way affect your right of being able to own or hold the agricultural land in India.
It turned out that Indrani, who was wearing the Navratri Day 2 green, was fasting for the festival. That caused the impish CBI prosecutor Badami to ask her police detail, "looking for salvation?".
'The difference between black money in India and the black money out of India is, in India, it is tax evaded money and Indian money outside India is not only tax evaded money, but money which has been taken out of India's capital resources needed for India. So it is not only tax evasion, but treason too.'
As India celebrates its 67th Republic Day, Rediff.com takes a look at some brave men who stood their ground to protect their country from those who sought to bleed it.
Indian economy about to take-off
With the festive season underway, retailers in the online and the offline world need to prepare well to offer the best deals to consumers and earn trust.
