The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs and will supervise GST and Customs activities and provide the government policy inputs.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
Citigroup came under growing pressure to overhaul its board on Tuesday after it revealed that two long-serving directors survived a shareholder vote largely thanks to a balloting rule that is due to be scrapped.
The Punjab chief minister said he was asked by Kejriwal to visit different places for campaigning for INDIA bloc candidates.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
In a fresh affidavit filed in the top court, the ED said no political leader has ever been granted interim bail for campaigning even if he is not contesting polls.
A shorter tournament will mean a smaller share from the shrunken central pool of revenues for the eight IPL franchises, not to mention a reduction in gate receipts. Cricket Australia stands to lose some A$300 million ($174 million) should the coronavirus outbreak derail their high-profile home test series against India later this year.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
The maximum tenure of CEO and MD of public sector banks has been increased to 10 years, a move that will help the government retain the best talent in the banking sector. As per a government notification dated November 17, 2022, the term for the appointment has been extended to 10 years, from the earlier 5 years, subject to superannuation age of 60 years. Earlier, the MD or executive director of a public sector undertaking (PSU) bank was eligible for a maximum tenure of 5 years or 60 years whichever was earlier.
Income tax officials on Monday conducted surveys at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion, an official of the tax department said. When contacted, L&T neither confirmed nor denied the development, while the media group has confirmed the tax survey. The tax official said surveys have been carried out at many L&T premises in the city, and in case of Zee, the surveys are underway at all its offices across the country since morning.
The case pertains to an alleged scam in the Sahakari Sakhar Kharkhana (co-operative sugar factories) and Sahakari Soot Girnis.
The Reserve Bank has found gaps in banks' corporate governance despite issuing guidelines on the matter, Governor Shaktikanta Das said on Monday. Addressing directors of bank boards, Das said such gaps, which have been mitigated, could have caused "some degree of volatility". He also hit out strongly against "smart accounting" to conceal stress and bloat financial performance.
Leading stock exchange NSE's board has given its approval to the Central Bureau of Investigation (CBI) to prosecute its former MD and CEO Chitra Ramkrishna in the co-location scam case, sources said on Monday. The CBI was awaiting the go-ahead of the board of National Stock Exchange of India (NSE) to prosecute Ramkrishna following her arrest in March last year. She was arrested in the co-location scam nearly four years after an FIR was registered by the agency in May 2018.
In the documentary, Sen speaks of social choice theory, development economics, philosophy and the rise of right wing nationalism across the world including India.
India has been named the first-ever 'country of honour' at Marche du Film, the business counterpart of the Cannes film festival.
Nitin Bhatnagar, a Maltese citizen and a former relationship manager of the Bank of Singapore, was taken into custody under the provisions of the Prevention of Money Laundering Act on Tuesday.
'We are not secessionists, we want to coexist with our countrymen but not on the terms that will strip us off our dignity and a right to peaceful existence.'
In its closure report submitted before a special CBI court New Delhi, the agency is understood to have said it did not find enough evidence to prosecute the accused.
One of its lovemaking sequences, featuring the film's leading man Cillian Murphy and Florence Pugh, has triggered off an uproar.
The Reserve Bank of India Governor Shaktikanta Das on Monday said that the "momentum of inflation is on a downward slope" and the central bank would continue to strike a delicate balance between the need to contain price rise and ensure economic growth. The Reserve Bank's inflation projections, Das said, are "robust" but contingent on downside and upside risks associated with the movement of global crude oil prices. The RBI takes into account a particular range within which crude prices are expected to fluctuate considering all the factors that can be anticipated and that can be sort of foreseen as of today, he said.
The saving grace of Shankar's expanded universe is the masterful precision with which Kamal Haasan drops himself into a messy setup, only slightly to elevate the pulpy tendencies of Shankar's vision, observes Arjun Menon.
The Centre should provide a clear regulatory pathway that it will follow so that automobile companies can plan their investments and car launches accordingly, Venkatram Mamillapalle, managing director (MD) & chief executive officer (CEO), Renault India Operations, said on Tuesday. Renault is planning to launch five cars - including a B-plus segment sport utility vehicle (SUV), a C-segment SUV and an electric vehicle (EV) - in India in the next three years, he told reporters. In early 2022, the ministry of road transport and highways had announced that cars in India would be required to have six airbags from October 1, 2022.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
A crucial meet of the Reserve Bank's central board is underway amid a rift between the central bank and the government over future course of policies. Expectations of a positive outcome boosted market mood after the meeting began.
'There is uncertainty regarding job opportunities for our children after they serve for just four years under the Agnipath scheme.'
The bus careened and went down to a field behind the highway, leaving a few passengers slightly injured. Its occupants were brought back to Purulia town in West Bengal for medical treatment, a party leader said.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Senior IPS officer Archana Ramasundaram on Thursday took over as the Central Bureau of Investigation's first woman Additional Director but was suspended by Tamil Nadu government late in the night for allegedly not following rules before joining the central probe agency.
'India's emergence as a top crypto market comes despite a regulatory and tax environment that can be challenging for the industry to navigate.'
Yadav, who returned from the national capital on Thursday after a trip that lasted three days, asserted that there was "nothing new" in the summons, even as he alleged that the central agencies were acting as per the directions of the ruling Bharatiya Janata Party.
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
A number of persons fainted after experiencing 'burning sensation' in their throat and chest. Many people who were asleep woke up in panic and scurried out of their homes and alerted neighbours and all of them soon reached the main roads unsure of what to do.
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
But there have been no visual cuts in this very violent film.
The central agency booked Wankhede and four others on May 11 for alleged criminal conspiracy and threat of extortion, besides under provisions pertaining to bribery under the Prevention of Corruption Act on a complaint by the NCB.
Justice K Ravichandrababu held that the impugned reservation was bad in law and violated Article 14 of the Constitution (Equality before law).
The Reserve Bank of India (RBI) has given HDFC Bank six months to migrate HDFC's home loan customers to external benchmark linked lending rate (EBLR), top sources in the bank told Business Standard. Almost half of HDFC's 5.4 million customers are home loan customers. It is mandatory for banks to link retail loans and loans to micro, medium and small enterprises to an external benchmark. Non-banking financial companies do not have such a mandate.
'Parents, students and coaching institutes will find alternatives to cater to the demand.'
