The Congress leader said a 'storm' was brewing on the economic front that will cause damage and hurt many.
RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a "policy priority" for the central bank to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality, Das said, while speaking at the Economic Times Financial Inclusion Summit. It is the responsibility of all stakeholders to ensure that the financial ecosystem (including the digital medium) is inclusive and capable of effectively addressing risks like mis-selling, cybersecurity, data privacy and promoting trust in the financial system through appropriate financial education and awareness, he added.
He asserted that the government purchase of farm produce will remain, adding that the mechanism of minimum support price will continue in the same way it always has.
More than 127 million new bank accounts have been opened.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
Jain, 57, is the minister for health, power, home, PWD, industries, urban development, flood, irrigation and water in the Arvind Kejriwal-led government.
The Popular Front of India (PFI), banned recently by the government for alleged terrorist links and spreading communal hatred, has a "well-structured and organised" presence in the Gulf countries for raising and mobilising funds, the Enforcement Directorate said on Monday after a local court took cognisance of its latest charge sheet filed against three PFI office-bearers.
Evidently, households see a brighter future after the Budget, reveals Mahesh Vyas.
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
Swift gains on Dalal Street this year have also led to a sharp surge in shares of equity market intermediaries like depositories, exchanges, and registrar and transfer Agents (RTAs). The stock prices of BSE, CDSL, CAMS, and KFin Technologies are up 24-283 per cent so far in 2023 when compared to a 9 per cent rise in the benchmark Nifty index. With the market buoyancy expected to keep up the pace, analysts believe these stocks are a good long-term bet despite the sharp rally, which can trigger an intermittent correction.
The Supreme Court on Tuesday told the Madras high court chief justice that the habeas corpus petition of Tamil Nadu minister V Senthil Balaji shall be decided by new bench expeditiously, and asked him to place the plea before three judges "at the earliest".
The Enforcement Directorate on Monday arrested Delhi minister Satyendar Jain in connection with a money laundering case, officials said.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
In the wake of Gujarat Chief Minister Narendra Modi's projection in the Bharatiya Janata Party as its future leader, political parties have begun to position themselves in the run up to the next general elections, says Renu Mittal.
Universal basic income or social security? Economist Nitin Desai feels we need a blueprint for universal health care and pensions to help the vulnerable section.
By keeping the Sanatana Dharma row alive and adding the Ayodhya temple consecration scheduled for January 22 and adding the free darshan promise from four polled states to the entire country, the BJP may have a self-fulfilling concoction, predicts N Sathiya Moorthy.
Aadhaar, an ambitious initiative of the previous government, has been used to initiate mandatory attendance for government officials, prisoner identification and by linking it to passports, mobile SIM cards and provident fund accounts.
Even though stocks may remain volatile in the run-up to the polls, as political parties stitch up alliances, the long-term trajectory for the markets remains bullish.
She reached the office of the federal probe agency in central Delhi around 11 am and left around 6 pm.
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
One out of every two Indians would have Aadhaar number by the middle of 2014, UIDAI Chairman Nandan Nilekani has said as he underlined the unique attributes of the identification system that will lead to public sector reform and governance transformation.
The Congress MP from Sivaganga also slammed the All India Anna Dravida Munnetra Kazhagam-Bharatiya Janata Party alliance and said the people of Tamil Nadu do not want a government which has any "stain, scent or shadow" of the BJP as its 'Hindi-Hindutva' agenda "irritates" them.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
Sebi on Thursday sent a notice to fugitive businessman Mehul Choksi asking him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems Ltd and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days. The demand notice came after Choksi failed to pay a fine imposed on him by the Securities and Exchange Board of India (Sebi). Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
Ekka, who is embroiled in the controversy for allegedly signing official documents at a private place, was removed from the post following Bharatiya Janata Party's allegation of his conniving with middlemen.
It is in no way a government of the economic Right. The Right is limited to religion and nationalism. The rest is as Left as the Congress or any other party, observes Shekhar Gupta.
In spite of the high decibel financial inclusion drive being carried out for the past three years, a Crisil study has revealed stark disparities in the spread of banking services, saying the top six cities are home to an astonishing 11 per cent of bank branches.
These parties also asked the Centre to present a revised comprehensive economic package that will be a 'true stimulus' and sought reversal of all unilateral policy decisions, especially pertaining to labour laws, as they put forth a 11-point demand charter before the government during a virtual meeting, called by the Congress to discuss the situation arising out of the pandemic as well as the lockdown.
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
Reserve Bank of India governor Shaktikanta Das on Monday said payments through UPI (unified payment interface) have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. In value terms, these transactions are worth Rs 6.27 lakh crore, registering a growth of 17 per cent from Rs 5.36 lakh crore in February 2022, the governor told reporters while launching the Digital Payments Awareness Week at the RBI headquarters in Mumbai this afternoon. He also said the overall monthly digital payment transactions crossed over Rs 1,000-crore-mark each month during the past three months.
The alleged scam pertains to the period when Lalu Prasad was the railway minister in the UPA-1 government at the Centre.
India's cities must switch over to piped gas leaving LPG cylinders.
Accusing Rahul Gandhi of trying to "weaken" the country's resolve to fight COVID-19, the Bharatiya Janta Party said on Wednesday that the Congress leader has been acting in a "most irresponsible" manner and is trying to mislead the country with "falsehoods and misrepresentation of facts".
Coupled with the fact that arms were recovered at the instance of Jamir, there is also evidence showing running of parallel government which was never acknowledged under any peace accord, the judge said.
While about 2,000 beneficiaries were transferred an amount of Rs 35 lakh (Rs 3.5 million) on the Aadhaar platform, the figure is expected to go up on Thursday.
Modi wants the BJP to gets an additional 10% of the vote share from what it won in 2019. Plans are afoot to get new faces to replace MPs with poor chances of winning. Sources say more than 100 MPs are like to be axed, notes Modi biographer Ramesh Menon.
The Supreme Court on Tuesday said it would consider a joint request for mediation of low-cost airline SpiceJet and media baron Kalanithi Maran and his Kal Airways for amicably settling all pending disputes between them including the row over the share-transfer issue. A bench comprising Chief Justice N V Ramana and Justices J K Maheshwari and Hima Kohli was apprised by senior advocate Mukul Rohatgi, appearing for SpiceJet, that there were three pending issues between the low-cost airline and Maran and out of these, one has been settled on July 29. Initially, Rohatgi sought four to six week time for settling all the issues between the parties.
The temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative are expected to gradually dissipate in 2017 as cash shortages ease, the International Monetary Fund said in its regional economic outlook.
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First's voluntary plea to initiate the insolvency resolution process against the airline. A two-member bench comprising President Justice Ramalingam Sudhakar and L N Gupta also appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company. It has also put the company under protection of moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings.
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