The new scheme came into effect on Thursday. However, even after a scrutiny assessment, appeals will continue to be done through personal representation.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
The meeting came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
The court granted bail to Rabri and Tejashwi Yadav in the CBI case on a personal bond of Rs 1 lakh and a surety of a like amount.
GST will now apply to mutual funds, loan instalments and credit card dues.
India is among 120 countries which backed the draft resolution put forward by the European Union and several other countries.
'For an introduction to his career-spanning genius, watch just five of his movies: Anand, Saudagar, Abhiman, Black and Pink,' notes Kalyan Singhal, McCurdy Professor of Business at the University of Baltimore.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
P Chidambaram's son Karti was arrested on February 28 at the Chennai airport on his return from the United Kingdom, for his alleged role in facilitating Foreign Investment Promotion Board clearance for INX Media Ltd. and its directors, Peter and Indrani Mukerjea.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
The sleuths of the department seized over Rs 4 crore in new currency, mostly in denomination of Rs 2000, some notes of Rs 100, demonetized notes of Rs 500 and a few gold biscuits
Skies over Delhi hung heavy with smoke and its air quality inched towards "severe" category on Diwali night as people burst firecrackers in a blatant disregard to the government's ban against it, imposed amid an increase in the contribution from farm fires.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
In 2010, ministry told its officers nominated on PSB boards to stay away from big-loan panels; central bank followed suit.
With the arrest of the film censor board's CEO on charges of demanding bribes to clear films, the regulatory role of the panel is in focus once again
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
The pilot of the MMTS train was trapped in his cabin, which was badly mangled, and efforts were on to rescue him, they said.
Special Investigation Team on black money will hold a meeting.
As per one of the arrested persons, the slain terrorists were Pashto-speaking either from a village in Pakistan bordering Afghanistan or from Afghanistan itself, the Jammu police chief told reporters in Jammu in the evening.
India, Taiwan and countries with large numbers of Tibetans, Uyghurs and overseas Chinese will be prominent among those that witness elevated United Front activity, notes Jayadeva Ranade, the distinguished China expert and retired RAW officer.
The BJP said it is legal with adequate safeguards and in the interest of national security..
The ED was investigating the case for the alleged contravention of the Foreign Exchange Act (FEMA) in transferring over Rs 243 crore out of the country to host the 2009 IPL in South Africa.
As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
Whether the Udta Punjab makers cave in remains to be seen but here's a list of the ones who did.
To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.
The SIT on black money on Tuesday sought update from multiple probe agencies on the role of Lalit Modi in alleged financial irregularities in the T-20 cricket tournament.
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
The finance ministry has ruled out the proposal for the appointment of a chief operating officer (COO) of the rank of deputy governor in the Reserve Bank of India (RBI), as the government feels no interim arrangements should be made for such high-profile appointments.
Thousands of migrants were stranded in places across the country since the lockdown was enforced on March 25, many even attempting to walk home.
Securities and Exchange Board of India (Sebi) chairman Ajay Tyagi on Thursday defended the recent reforms announced by the regulator, such as peak margin norms and shortening of the trade settlement cycle, saying they were in the interest of investors. The moves were criticised by the broking community and the foreign portfolio investors (FPIs). Speaking to the media after his inaugural address at the CII Financial Markets Summit, Tyagi said: "The new peak margin norms are in everyone's interest.
'It's the court, not the government that decides where to put the people who indulge in corruption'
The bench on October 16 had reserved the judgment after marathon hearing of 40 days.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.
