Through this mobile application, the handset will be used for authenticating biometrics of customers making Aadhaar enabled payment.
Addressing his council of ministers in a video conference, Modi asked them to prepare business continuity plans to fight the economic impact of COVID-19 on a war footing, but also asserted that this crisis is an opportunity to boost the 'Make-in-India' initiative and reduce dependence on other countries.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Official sources said that the federal probe agency, which is investigating the PFI under the PMLA)tka since 2018, has found that at least Rs 1.04 crore were deposited in several bank accounts linked to the organisation between December 4 last year and January 6 this year in various parts of the country.
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.
Congress leaders have hit out at the BJP governments at the Centre and in Karnataka, questioning its timing.
Over 4 mn bank accounts could be dormant, suspects tax department.
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
According to the Reserve Bank of India's data, cash still accounts for 90 per cent of all monetary transactions in India.
The Modi government's array of economic policy has been impressive.
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.
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.
'Success will require political skill, not just economic expertise'
Total subsidy bill could come down to around Rs 2 trillion.
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.
'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.'
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
The SC sought response of all the petitioners who have challenged demonetisation.
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.
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.
After an apparent truce between AAP and the BJP following the Delhi polls, sparks are flying once again. Radhika Ramaseshan reports.
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.
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.
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.
Read the investor-developer agreement carefully before signing the cheque
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."
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 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.
The company plans to double its headcount next year.
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
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.
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.
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