Future Group founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide over the cash crisis. Opening up after being locked in an intense legal battle with Amazon over the Rs 24,713 crore deal with Reliance, Biyani in an interview with PTI said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance. He hoped to complete the deal with Reliance within two months of Sebi approval.
Over 4 mn bank accounts could be dormant, suspects tax department.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
The FM asserted that nearly Rs 11.85 lakh crore out of the Rs 15.44 lakh crore junked notes were back into the system
The Election Commission on Thursday issued a set of draft "revised" guidelines to political parties asking them not to give cash to their candidates in a bid to curb the menace of black money in elections.
According to the Reserve Bank of India's data, cash still accounts for 90 per cent of all monetary transactions in India.
Advisory in this regard was issued by the Gujarat government three days before Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1000 notes.
The Modi government's array of economic policy has been impressive.
'Success will require political skill, not just economic expertise'
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
Total subsidy bill could come down to around Rs 2 trillion.
Nitin Tyagi is a young farmer in Budhagaon village of Baghpat district of Uttar Pradesh. A few years ago, Tyagi left his fairly lucrative job in the medical industry and shifted base to his ancestral village to look after his land and property. He opened a small shop selling farm inputs in the village and also started taking a greater interest in agricultural matters which had so far been looked after by his father and uncles. Tyagi and his brothers primarily grow sugarcane, potato and wheat on nearly 10 acres of land with sugarcane taking up most of his time and effort. Being one of the most important and lucrative cash crops of the region, sugarcane is directly linked to the fate of millions of farmers in west UP and with it, the electoral fortunes of political parties seeking their votes in the coming assembly polls.
'Fear is also a great impetus to push people in the right direction.' 'So, everyone who has touched black money is scared and I'm very happy about it.'
After an apparent truce between AAP and the BJP following the Delhi polls, sparks are flying once again. Radhika Ramaseshan reports.
The SC sought response of all the petitioners who have challenged demonetisation.
Be it loan waiver or DBT transfer, it only helps in creating a "feel good" factor and postpones the problem for some time if structural problems are not handled.
In other welfare schemes, such as those for cooking gas, pension and scholarships, which are linked to DBT, cash is transferred directly into the bank accounts of beneficiaries.
With the first salary date after demonetisation around the corner, will India's labourers be able to take their hard-earned wages home?
The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
Read the investor-developer agreement carefully before signing the cheque
Indian airline SpiceJet Ltd said on Thursday that its billionaire owner, Kalanithi Maran has proposed to transfer majority ownership in the ailing carrier to co-founder Ajay Singh.
Cryptocurrency exchanges face issues with their current bank accounts.
The government has provided no official explanation behind the note ban that is backed by hard data, says Debashis Basu.
The agency filed the prosecution complaint under the Prevention of Money Laundering Act before a special court in Mumbai and said Naik's "inflammatory speeches and lectures have inspired and incited a number of Muslim youths in India to commit unlawful activities and terrorist acts."
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
The common denominator: They were predominantly Gujarati, mostly male, and either related by blood or very well-known to Nirav.
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
The company plans to double its headcount next year.
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
What was the fraud? Why did Sebi drag its feet on the order? What options does RIL have now? Samie Modak explains these and more.
Don't opt for a SWP when you have a regular cash flow. During such times, opt for a SIP.
Debashis Basu lists various reasons why laundering through the stock market thrives.
'Many of the challenges of investing in commercial real estate get taken care of when an investor takes the Reit route,' points out Suraj Nangia.
Now, 83 per cent males and 77 per cent females have formal bank accounts but they are hardly using them
A local Mumbai court on Tuesday remanded the senior Nationalist Congress Party leader and former Maharashtra Public Works Department Minister Chhagan Bhujbal in the custody of Enforcement Directorate till March 17, a day after he was arrested in a money laundering case in connection with the Maharashtra Sadan scam.
Most expect the Budget to be path-breaking.
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