Being part of category-I implies lower compliance burden, simplified know-your-customer norms and documentation requirements, and fewer investment restrictions.
India's tweaking of IT rules allow formation of Centre-appointed panels, that will settle often-ignored user grievances against content decision of social media companies, Minister of State for IT Rajeev Chandrasekhar said, adding that this was necessitated due to the "casual" and "tokenism" approach of digital platforms towards user complaints so far.
The Indian IT industry will stage a "strong recovery" in 2021-22 with a revenue growth of up to 11 per cent, ratings agency Crisil said on Wednesday. The recovery will be led by increasing outsourcing and accelerating digital transformation services mainly in sectors such as banking, financial services and insurance (BFSI), healthcare, retail and manufacturing, it said. As per Nasscom, the IT services industry grew 2.7 per cent to $99 billion in 2020-21.
'People will say a lot of things -- ignore the noise.'
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
ICMR says it is following all globally accepted norms to fast-track vaccine and wants to 'cut red tape'.
A few days ago, Reliance Retail surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. A successful cola brand in the eighties, especially in North India, Campa Cola thrived when Coke exited India in the late seventies. When the Atlanta-based major returned and PepsiCo set base in India, it went down fighting.
'In India, there's currently evidence the Centre has not managed a smooth vaccine rollout.' 'It is now falling back on blaming states, which are facing vaccine shortages,' points out Devangshu Datta.
Data processing compliance is the main reason behind the delay. The government, on several occasions, has made it clear that Indian financial data needs to be stored exclusively onshore and if it is processed outside, it needs to be brought back in 24 hours.
The sentencing of Saeed came just four days ahead of a meeting of global anti-terror watchdog Financial Action Task Force in Paris to review Pakistan's compliance of an action plan prescribed by it to contain terror groups in the country.
A newspaper reported that over 500 Indians have association with firms in tax havens.
'There is a weak link between the economy and the stock market.'
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
ECB writes to ICC, wants the ICC's Dispute Resolution Committee to address the issue and expect that a forfeiture would be granted so that they can claim insurance as they are going to lose 40 million pound if the match is declared abandoned due to COVID.
On 11 effectiveness parameters of terror financing and money laundering, Pakistan was adjudged as low on 10.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
Some of the world's biggest banks including HSBC, JPMorgan Chase and Standard Chartered moved trillions of dollars identified as being potentially tied to money laundering or other crimes despite raising concerns about those transactions in filings with US regulators, reports South China Morning Post.
On February 4, Twitter was asked to take down 1,178 accounts with links to Pakistan and Khalistan supporters that were spreading misinformation and provocative content related to farmers' protest.
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
Corporate social responsibility rules that kicked in on Friday also set a three year time-limit for any CSR project, among a series of other amendments introduced by the government.
The Congress also alleged that Facebook was acting as an ally of the ruling BJP and pushing its agenda.
In the last five years of NDA rule, 2018-2019 was the worst for exporters.
When the Delhi police served him a notice in May for a case involving tagging some political leaders' tweets as carrying manipulated media, a spirited Maheshwari said he was employed by Twitter Communications Private Limited, and not Twitter Inc, and, therefore, could not help them. The authorities were understandably not pleased.
Chanu ended India's over two-decade-long wait for a weightlifting medal at the Olympics.
Bringing a local or non-Chinese partner onboard opens up the possibility of legal recourse to have the ban diluted or revoked. However, the process of going through a review committee and setting up local servers might take at least 3-6 months.
Google LLC has contended that the information technology rules for digital media are not applicable to its search engine, and urged the Delhi high court on Wednesday to set aside a single judge order which applied the rules on the company while dealing with an issue related to removal of offending content from the internet.
In the advisory, Union Home Secretary Ajay Bhalla said States and Union Territories may consider imposing need based, local curbs and restrictions, to control the crowd during the festive season.
India conceding ground to bring only top 100 digital companies like Google, Facebook, and Netflix into the global taxation pact may have revenue implications. This will mean that New Delhi will have to withdraw the contentious 2 per cent equalisation levy on e-commerce operators by 2023. This may have revenue implications for India, experts pointed out, as the equalisation levy has a much lower annual revenue threshold of Rs 2 crore (euro 0.2 million) as against euro 20 billion agreed by 130 countries at the Organization for Economic Cooperation and Development (OECD). India, along with other developing countries, was pitching for at least euro 1 billion threshold to cover at least 5,000 global entities. India collected Rs 2,057 crore from the equalisation levy in 2020-21, an 85 per cent growth over Rs 1,136 crore in the previous fiscal.
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
The UN Security Council Resolution 2309 calls governments to meet their responsibility to keep citizens secure while travelling by air.
The simplified form will comprise details of taxpayers' mutual fund transactions, pending and completed income tax proceedings, status of income tax demand, besides tax deducted at source and tax collected at source. Form 26AS is an annual tax credit statement containing details of various taxes deducted on income.
E-commerce giant Amazon and Infosys co-founder N R Narayana Murthy's Catamaran Ventures have "mutually decided" to not continue their joint venture (JV) beyond the end of its current term. The JV, Prione Business Services, which has been running successfully for the past seven years, was coming up for renewal on May 19, 2022. The JV enabled over 300,000 sellers and entrepreneurs to go online. It also enabled 4 million merchants with digital payment capabilities, providing these small and medium-sized businesses (SMBs) and merchants access to millions of customers across the country.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
'India finds itself in an unenviable situation today with its prospects diminished by acutely polarised domestic politics and the setbacks suffered during the pandemic,' notes Ambassador Shyam Saran, the former foreign secretary.
The country's largest two wheeler maker Hero MotoCorp and Harley-Davidson on Tuesday announced a wide ranging partnership for the Indian market, days after the US cult bike manufacturer announced its exit from the country. As part of the deal, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name in the country. Besides, it will take care of service and parts requirements for the Harley bikes.
A key lesson for the pharmaceutical sector in this case is to not downplay the significant impact that regulatory non-compliance can have on operations.
Tennis Australia are to beef up their integrity unit to fight corruption in the sport after their showcase tournament was blighted earlier this year by allegations of global inaction to combat it.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
In a letter to chief secretaries of states and union territories, NCM chief Syed Ghayorul Hasan Rizvi sai the Nizamuddin incident was a "serious violation" of the lockdown, and has put the lives of fellow citizens at risk.
