As much as Rs 26,697 crore was lying in dormant accounts of banks, including cooperative banks, as on December 31, 2020, Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday. This money is lying in nearly 9 crore accounts which have not been operated for 10 years. As per information received from the Reserve Bank of India (RBI), as on December 31, 2020, the total number of such accounts in Scheduled Commercial Banks (SCBs) was 8,13,34,849 and the amount of deposits in such accounts was Rs 24,356 crore, Sitharaman said in a reply.
A list of at least 20 individuals has been sent to the immigration department to prevent them from flying overseas.
Eight stadiums in Doha will host 64 matches at the World Cup.
The notification issued by the Union Environment Ministry also exempts projects pertaining to the expansion of terminal buildings at airports (without an increase in the existing area of the airport) from seeking green nod.
The coronavirus-induced suspension of scheduled international passenger flights has been extended till July 31, aviation regulator Directorate General of Civil Aviation said.
India has been raising with China the plight of approximately 22,000 Indian students enrolled in Chinese universities who are unable to go back for physical classes. However, the neighbouring country has till date refused to let them enter.
This wonderful-tasting gluten-free dosa is made with samo rice and sabudana.
Giving the slogan of "one earth, many efforts", he said India is ready to lend its support to actions to make environment better and improve global wellness.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
The Bharatiya Janata Party bagged 48 wards and the All India Majlis-e-Ittehadul Muslimeen of Asaduddin Owaisi secured 44.
Bilkis Bano on Wednesday challenged the remission of sentence and release of convicts in the 2002 rape and murder case filing a plea before the Supreme Court.
The circular, issued on Saturday, also reiterated that all visas as well as e-visas issued to Chinese nationals before February 5 have been suspended with immediate effect.
The ministry of corporate affairs has clarified that companies whose annual general meetings are due in 2021 have to conduct them within the specified time limit and video conferencing is allowed till June 30,2022. MCA has said that its circular should not be construed as conferring any extension of time for holding annual general meetings by the companies under the Companies Act, 2013. "Companies which have not adhered to the timelines shall be liable to legal action under the appropriate provisions of the Act," MCA said. In September, MCA had allowed a two-month extension to the deadline for companies to hold their annual general meeting for the financial year ending March 31, 2021.
To ensure seamless settlement of funds and convenience to investors, Sebi on Thursday said stock brokers should maintain current accounts in appropriate number of banks for holding clients' funds. The clarification comes after Sebi received representations regarding the issue being faced by stock brokers. They requested the regulator to issue instructions in respect of maintenance of current accounts in multiple banks.
The RBI on Monday asked banks not to approve any proposal of foreign law firms to open a branch office, project office or liaison office in the country under FEMA for the purpose of practicing legal profession. The RBI has issued a circular in this regard in view of a Supreme Court order wherein the apex court held that advocates enrolled under the Advocates Act, 1961 alone are entitled to practice law in India and foreign law firms or foreign lawyers cannot practice the profession of law.
'Summer Somewhere exclusively creates clothes that are kind to the planet.'
Resisting the Supreme Court's attempt to revisit the 2016 demonetisation exercise, the government said on Friday the court cannot decide a matter when no tangible relief can be granted by way of "putting the clock back" and "unscrambling a scrambled egg".
Asserting that India's dedication to climate commitments is evident from its performance, Prime Minister Narendra Modi on Monday hoped that rich countries of G-7 will support India's efforts in combating climate change and invited them to tap the huge market for clean energy technologies emerging in the country. In his remarks at the session on 'Investing in a better Future: Climate, Energy, Health' at G7 Summit, Modi highlighted India's track record and said it has achieved the target of 40 per cent energy-capacity from non-fossil sources nine years before time. "The target of 10 per cent ethanol-blending in petrol has been achieved 5 months before time.
The Reserve Bank on Thursday permitted banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. Bank customers will have to pay Rs 21 per transaction, instead of Rs 20, with effect from January 1, 2022, if they exceed the monthly limit of free transactions. "To compensate the banks for the higher interchange fee and given the general escalation in costs, they are allowed to increase the customer charges to Rs 21 per transaction. "This increase shall be effective from January 1, 2022," the RBI said in a circular.
Two Al-Badr terrorists, responsible for the recent attacks on migrant labourers in Kashmir, were killed in an overnight encounter with security forces in Pulwama district, the police said on Thursday.
Indian rowers Arjun Lal Jat and Arvind Singh failed to qualify for the men's lightweight double sculls final at the Tokyo Olympics after finishing sixth and last in the second semi-final on Wednesday.
State Bank of India, the nation's largest lender, has stopped processing transactions of Russian entities that have been sanctioned by the West over Moscow's invasion of Ukraine, sources said. To effect this, SBI has issued a circular as it fears that any transaction with entities or sectors under sanction will invite sanction on it as well, sources said. No transactions involving entities, banks, ports or vessels appearing on a US, European Union or United Nations sanctions list would be processed irrespective of the currency of the transaction, they said. Payments due to such entities have to be processed by other mechanism rather than through the banking channel, sources added.
The Delhi Commission for Women has issued a notice to Indian Bank seeking withdrawal of its new recruitment guidelines which prevents a woman, who is three or more months pregnant, from joining service.
From witnessing the dawn of Independence to playing host to annual Republic Day celebrations for over seven decades, the historic Rajpath in India's power capital has seen the colonial rule and basked in the glory of a free, democratic nation.
A team of Indian researchers, for the first time in fossil history, have discovered an egg-in-egg or abnormal titanosaurid dinosaur egg from the Bagh area in Dhar district, Madhya Pradesh.
The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said. Revenue secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.
Prime Minister Narendra Modi on Friday alleged that "urban Naxals and anti-development elements" with political backing had stalled the construction of Sardar Sarovar dam on the Narmada river in Gujarat for many years by running a campaign that it would harm the environment.
The Reserve Bank of India (RBI) has clarified that loans which have remained standard without any defaults as of March 1, 2020, will be eligible for restructuring under the pandemic-related resolution framework issued in August.
A state government affidavit said all convicts were granted parole, furlough and even temporary bail at different points during their incarceration, with the highest being for 1,576 days and the lowest 998 days.
"This viral disease is transmitted from one animal to another by a specific type of tick...the disease is transmitted to humans through contact with the blood of infected animals and by eating the meat of infected animals," the circular said.
As part of the exercise, preventive checks at different airport functions have been carried out and the airport has ensured that diesel generator sets are in place to provide uninterrupted power supply, the MIAL said in a release.
A special show at the FDCI x Lakme Fashion Week highlighted the processes and techniques that make fashion sustainable.
India has formed air bubble pacts with around 27 countries including the US, the UAE, Kenya, Bhutan and France. Under an air bubble pact between two countries, special international flights can be operated by their airlines between their territories.
The official order read, 'Kamal Pant, IPS, Commissioner of Police and Additional District Magistrate, Bengaluru City, hereby prohibit any gathering, agitation or protest of any type within the area of 200 metres radius from the gate(s) of the Schools, PU Colleges, Degree Colleges or other similar Educational Institutions in Bengaluru City, for a period of two weeks with immediate effect i.e. from 9-2-2022 to 22-2-2022.'
'The RBI's clarification on non-performing advances accounting is likely to increase NPAs by around one-third for non-banking finance companies,' domestic rating agency India Ratings and Research said in a report on Friday.
Capital markets regulator Sebi on Monday came out with a framework for operationalising the gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts (EGRs). The stock exchange desirous of trading in EGRs may apply to Sebi for approval of trading in the new segment, the regulator said in a circular. The bourses can launch contracts with different denomination for trading or conversion of EGR into gold. Under the new framework, the entire transaction has been divided into three tranches-- creation of EGR; trading of EGR on stock exchange and conversion of EGR into physical gold.
The decision has been taken following requests made in this regard by market participants as Budget contains several market-moving announcements.
The outstanding credit card base dropped to 77.99 million in August from over 80 million in July, mainly on account of the new norms of the Reserve Bank of India (RBI) that warrant the deactivation of cards that are inactive for a year. While there was a 2.8 per cent decline in net card additions on a month-on-month (MoM) basis in August, a first in many months, credit card spends slipped 3 per cent on a high base. Still, spends topped the Rs 1-trillion mark for the sixth consecutive month.
While most brokers have upgraded their backend systems to trade, their front-end systems have not been upgraded. They are not compliant with Sebi's interop circular of November 2018 and no one seems to be either aware of this, nor has anything been done about it so far, explains Debashis Basu.
Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees. As per law, an income tax return (ITR), filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, or net-banking, or code sent through demat account, pre-validated bank account and ATM within 120 days of filing the return. Alternatively, taxpayers can send a physical copy of the ITR filed to the Centralised Processing Centre (CPC) office in Bengaluru.
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