The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
The move followed after certain startups complained about facing harassment and the taxman breathing down their neck on the angel tax issue.
The market intermediaries have also been told to appoint designated directors to ensure compliance with new norms, who would face penal action for any lapses.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
As per the ministry's updated data on coronavirus cases Saturday morning, six fresh deaths were reported -- three from Maharahtra, two from Delhi and one from Gujarat.
Corp tax arrears at over Rs 3.11 trillion as of Dec 2014.
The exchange has also ordered freezing of the entire promoter shareholding of these companies till further notice
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
News of all that's transpired on and off the football field
The maximum number of banks are from the US (74), followed by China (29) and South Korea (26).
With the recent proliferation of cyberattacks, corporate executives need to devote increasing attention to protecting information assets and on-line operations, said a report released on Monday by the World Economic Forum.
According to Pakistan's National Counter Terrorism Authority (NACTA) list, which was updated on Tuesday, JuD and FIF were among 70 organisations proscribed by the ministry of Interior under the Anti-Terrorism Act 1997.
He said the Fourth Industrial Revolution will have more importance than the capital.
Indian companies lost around $53 million (about Rs 328 crore) due to phishing scams with the country facing over 3,750 attacks in July-September this year, making it the fourth most attacked nation globally.
Once tipped to emerge as the biggest exporter, the pharmaceutical industry is yet to acquire the scale of those in software services, says Krishna Kant.
FATCA will facilitate flow of financial information between countries.
Jaitley said Modi government has put decisiveness and transparency on forefront in face of obstructionism.
Raghavendra Kamath reports on what ails India's real estate sector.
Non-reporting of overseas income by employers may be categorised as 'abetment' under the Act.
There is growing alarm at the inexorable rise of China, both of its military prowess and its aggressive bullying of other countries plus its subjugation of whole portions of its own population.
"The world, which includes our brotherly friends (China and Saudi Arabia) whom the foreign minister (Khawaja Asif) thanked in a prematurely triumphant tweet on Tuesday, is not impressed with what they see as this country's continued intransigence," the Dawn said in a stinging editorial, criticising the policies of the government, especially the powerful military.
Ola accuses Uber of violating local laws, run business for profit.
The government has notified mandatory standards for 15 electronic products, including mobile phones, power banks, LED lamps, to curb flow of low quality items in the country.
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
Besides higher tax outgo, P-note issuers are worried about operational difficulties
The US had initiated investigation against Infosys and its larger rival Tata Consultancy Services (TCS) for possible violations of H-1B visa rules in June.
Uttam Prakash Agarwal alleged that Citax and Braich offers were incomplete and did not include firm commitment as to the price, size, timings, confirmation from the banks about availability of the funds.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
The Chinese Communist party has not closed its door of contacts and negotiation with the Dalai Lama, a senior Communist leader wrote recently. Former RA&W officer and China expert Jayadeva Ranade explains what the thinking on Tibet is likely in Beijing.
India's antitrust regulator has approved Sun-Ranbaxy deal, subject to the companies divesting seven products.
The Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
The government, in February, had released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
The proposed annual quota for Indian companies could be between 10 and 15 per cent. Currently, there are no country-specific limits on H-1B allotment.
More than 61 per cent of women choose non-professional courses.
The International Paralympic Committee (IPC) on Sunday banned all Russians from its own Games next month because of the widespread doping culture that it says has polluted sport in the country.
The French president said that peace should be maintained in the region and peoples' rights should be protected.
Maggi has also come on the radar of US Food and Drug Administration.
Issues Rs 358 crore interim dividend, 1:10 bonus and 10:1 split
Singapore is slated to bring in Singapore Variable Capital Company, a new legal entity which can be used as a vehicle for investment. SVACC is expected to simplify the process of redemption for open-ended funds.
