A special audit will look into any pricing anomalies in the transactions between the two, according to a source. FTIL had a contract for helping the exchange with its technology needs.
The fall in the ratio of customs and excise duty collection to GDP has resulted in an overall decline of tax-GDP ratio from an average of 9.32 per cent during the 8th Plan
A well-established tax system would have a predictable buoyancy - how fast the collections grow as a proportion to the growth of the economy. But that is not the case with GST. It is still undergoing substantial changes as the government responds to structural as well as administrative glitches.
BCCI has reacted sharply to the Committee of Administrators red-flagging a proposed Day/Night Test match against the West Indies in October despite positive feedback from national chief coach Ravi Shastri.
Former Telecom Minister A Raja on Sunday said he was ready to serve life imprisonment if a single rupee or dollar was found in any offshore account in his name.
CEA offers three compelling arguments in his case for privatisation of government-owned banks.
The CBI today registered three FIRs and a preliminary enquiry to probe alleged irregularities in Indian Airlines-Air India merger and purchase of 111 aircraft, leasing of planes and giving up of profit-making routes by Air India, causing a loss of thousands of crore of rupees.
The letter, to maintain the current policy of denying Narendra Modi a visa to the United States, was released just as the BJP president arrived in Washington DC for a round of meetings with US lawmakers. Aziz Haniffa reports
The weather office on Monday forecast heavy to very heavy rainfall over the next three days over some parts of Uttarakhand, which is still recovering from a deluge last week that is feared to have taken over 1,000 lives.
Vinod Rai welcomed the Supreme Court order on mandatory cooling off period for Board of Control for Cricket in India office-bearers after two consecutive terms and for putting a roadmap in place for the Board's elections.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
'If the Modi government does not waive farm loans, we guarantee to waive farm loans if voted to power in 2019'
I will give answer to the public in 2019, but Akhilesh government must answer to the people as it had ruled it for the last five years, Modi said.
The Central Bureua of Investigation sought a maximum of seven years imprisonment for the five convicted persons and imposition of heavy fine on the private firm.
The CBI chief's advocate said there was no basis for the Central Vigilance Commission to pass such an order recommending to send him on leave.
The Congress on Monday put the ball in Aam Aadmi Party's court over government formation in Delhi saying that 16 of its 18 demands need just administrative decisions and have nothing to do with Parliament or assembly.
CBI officials, who questioned former RBI deputy governor H R Khan on Friday, wanted to understand from him why the gold scheme was rushed through without taking into the account the impact and potential misuse.
Any residual amount left in the Compensation Fund after five year compensation period shall be shared equally between the Centre and the states.
Since the court had earlier questioned distribution of mining rights through the screening committee route, experts say the solution worked out would be weighed on the basis of legality.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
In the next few weeks, the Bombay High Court will hear the institute's petition to review its 2011 directive to vacate the land it occupies in Film City.
'I am only asking about his travel bills and expenditure.'
What makes President Mukherjee's visit to the south Indian states interesting is the combination of engagements.
There appears to be a growing perception among the political class that faster growth will not create jobs fast enough and, therefore, welfare spending needs to be drastically increased, says T T Ram Mohan.
The court said a 'scam was created when there was none'.
Nature's Basket is changing its offering. Its new strategy zeroes in on pushing joint ventures, focusing on private labels and reentering Delhi.
Virat Kohli's aura in Indian cricket has grown exponentially over the past few years but contrary to popular perception, he has never wielded 'disproportionate influence' when it comes to policy decisions, says Committee of Administrators (COA) chief Vinod Rai.
International Cricket Council chairman Shashank Manohar on Wednesday said that he is following the developments in the Board of Control for Cricket in India and that a 'strong BCCI' based on solid governance foundations is good for the game.
Prashant Kishor was the brain behind many of Narendra Modi's popular programs such as 'chai pe charcha' during the Lok Sabha polls
States are now gearing up to implement the scheme, integrating it with their own public health insurance plans and tying up the loose ends.
The Board of Control for Cricket in India president Anurag Thakur is set for a showdown with current International Cricket Council chairman Shashank Manohar during the ICC Board meet in Cape Town, where the richest cricket board will specifically push for a three-point agenda that includes bringing back the 'Big Three' module.
'The EC is a sacred institution.' 'In the last few years, more than once, we have found the EC bending over backwards to accommodate the government.'
Raiwalys in existential crisis but no stock market route: Prabhu.
Amid the Bharatiya Janata Party governments at the Centre and in Haryana beginning to turn the heat on him, businessman Robert Vadra, also the son-in-law of Congress President Sonia Gandhi, recently ensured his companies filed their pending balance sheets.
RBI has identified about 50 cases for NPA resolution after it was empowered by the government to ask banks to initiate insolvency proceedings.
A group of 11 American lawmakers has written to President Barack Obama to discuss the issue of religious freedom in India with visiting Prime Minister Narendra Modi, during their meetings at the White House.
Reforms in the Board of Control for Cricket in India will not pull the cash-rich body back, the Supreme Court said on Tuesday and made it clear that it does not intend to reduce the popularity of the BCCI or hinder its growth but wants structural reforms which would make the cricket body more transparent.
Modi took on Gandhi for mocking him for chanting 'Bharat Mata ki Jai' at every meeting. The prime minister said he will continue to do so despite Gandhi's 'fatwa' on it.
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