Indian industry snubbed Google Play's decision to cut by half its commission for developers when they make $1 million in annual revenue for in-app purchases, saying the US tech giant may continue its "abrasive & monopolistic abuse" as it owns the Android system. Google Play said Tuesday that beginning July 1 it would slash its 30 per cent billing fee to 15 per cent for developers globally when they make the first $1 million of their annual revenue.
A salaried individual needs to file returns as a business owner if s/he has a high turnover while trading in stocks or futures & options, reveals Tinesh Bhasin.
Negotiations on with three brokers holding 5% of about Rs 5,500-crore (Rs 55 billion) overall dues
The government on Monday ruled out the possibility of free food-grains distribution to migrants saying there is no panic situation and no complete national lockdown unlike last year.
Largest bidder says FTIL not following correct process and MCX not extending cooperation; FTIL and MCX say cooperating fully
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
The RBI view comes within a fortnight of the sectoral regulator FMC in a report stating that the promoter Shah and promoter company Financial Technologies are not eligible to run the crippled exchange, an order challenged by the group in the Bombay High Court.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
The bond market is not in a mood to reason with the Reserve Bank of India (RBI) on keeping yields low. The 10-year bond yields continued to rise for the fourth straight session to close at 6.202 per cent from its previous close of 6.135 per cent. The yield was at 6 per cent a week ago. The RBI wants the yields to remain at 6 per cent, but bond dealers say the central bank will have to step up its bond-buying programme.
Sinha started his tenure at Sebi a bit shakily making people wonder if he'd complete his three years. Eventually, he went on to stay twice that long.
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
States may face a GST compensation shortfall of Rs 3 lakh crore in the next financial year, a situation that will force them to borrow more from the markets, says a report. The states may face a shortfall of Rs 2.7-3 lakh crore as Goods and Services Tax (GST) compensation from the Centre next fiscal. Out of that amount, the shortfall from cess collections will be at Rs 1.6-2 lakh crore, according to an Icra report released on Monday. In FY21, the states were facing a shortfall of Rs 1.1 lakh crore in GST compensation from the Centre but over 90 per cent of that amount has been cleared now.
In conversation with Deepsekhar Choudhury and Neha Alawadhi, Sharma speaks about his journey and the road ahead.
Market ended lower for the third straight session led by IT stocks amid downgrade by Citigroup.
R-Cap's demands following PwC's audit report add a fresh layer of worries for MCX investors and could hit valuations marginally.
Six players -- Dubov, Nakamura, Aronian, Carlsen, Radjabov and So -- share the lead with 4.5 points after eight rounds.
Addressing a press conference in Chandigarh, the deputy chief minister said, "I believe that many amendments should be there. On this, we have given many suggestions to the Centre earlier and they too were agreeable on many suggestions."
After defaulting for a consecutive time in paying its investors, National Spot Exchange Ltd (NSEL) got a Rs 177-crore (Rs 1.77 billion) lifeline from its main promoter, Jignesh Shah-run Financial Technologies.
In a fresh development in NSEL's Rs 5,600 crore scam, the Enforcement Directorate (ED) on Monday registered a preliminary inquiry into the payment crisis, suspecting large-scale money laundering in the beleaguered spot exchange, a senior official said.
China on Tuesday announced a major policy change for its crisis-ridden power sector by allowing coal-fired power plants to charge their industrial and commercial customers market-driven prices. The National Development and Reform Commission (NDRC) of China said the electricity generated by coal-fired plants would discover price in market trading "in an orderly manner" from October 15. This is being done to pass on the high costs of coal and is being held up as the boldest reform in the Chinese power sector.
Finance firms in these SEZs likely to get tax breaks.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
'People will say a lot of things -- ignore the noise.'
The stock market watchdog had said any adverse findings by other regulators might have a bearing on the exchange.
No Service Chief to date has had the guts to streamline the procedure in conjunction with the Election Commission and ensure every soldier votes in his/her place of posting, observes Lieutenant General Prakash Katoch (retd).
The finance ministry and several agencies under it such as the Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED), which are investigating the affairs of Sahara India Parivar, are worried about its exposure to National Spot Exchange Ltd (NSEL) products.
Exchange to reply to FMC's letter soon, CEO says buyers can't be declared defaulters where there is 'market disruption'.
Though they have more than one legal option to recover dues, till NSEL has funds, little can be done.
In a video interaction with chief ministers of Tamil Nadu, Andhra Pradesh, Karnataka, Odisha, Maharashtra and Kerala, where many districts have been reporting a high number of cases, Modi said the country stands at a point in its battle with the pandemic where apprehensions about a third wave are being continuously expressed.
Within Sebi, the chairman should hold an umbrella for both young and old employees, says Somasekhar Sundaresan.
In a country that is often focused on the ways in which it falls short, the start of a year is a good time to remind oneself of such positives, observes T N Ninan.
Exchange used new investors' money to pay returns to old ones, finds FMC's forensic audit.
Neto will sign a four-year deal with Barcelona that will keep him at the club until the end of the 2022-23 season and he will replace Dutch goalkeeper Jasper Cillessen who moved the other way on Wednesday.
The sad truth is that the debt-to-GDP ratio will shoot up close to 90 per cent in the coming year, and the fiscal deficit glide path does not promise to reduce it substantially any time soon, predicts Mihir S Sharma.
Managing expectations is a challenge for policymakers.
Laxity in enforcing KYC and allied norms suspected; money laundering gaps also on probe panel's mind
Principal economic advisor, Ila Patnaik, is coordinating the work on Economic Survey 2013-14.
According to its DRHP filed in 2010, the company's net worth was just Rs 140 crore. Its total income for the financial year 2009-10 stood at Rs 119 crore and it had a net profit of Rs 16 crore. In sharp contrast, at the end of March 2021, Paytm's networth was Rs 6,535 crore and total income stood at Rs 3,187 crore.
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
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