The agreement on sharing of financial information is a distinct and welcome break from its trend.
The draft policy proposes the launch of a non-personal data based India datasets program and addresses the methods and rules to ensure that non-personal and anonymised data from both government and private entities are safely accessible by the research and innovation ecosystem.
India is "very important" for America's foreign policy and crucial for the stability and peace in the region, an influential US lawmaker said on Thursday. "India is a very important part of the United States foreign policy," Congresswoman Sheila Jackson Lee, who is co-chair of the Congressional caucus on Pakistan and heads the Afghan caucus said at a panel discussion in Washington.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
The government has notified a host of procedural changes in the GST rules, including levy of interest for wrongful utilisation of ITC and turnover threshold for filing annual returns for the 2021-22 fiscal. The changes were vetted by the Goods and Services Tax (GST) Council at its meeting last week. With the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payments on the GSTN portal by using IMPS and UPI payment modes.
India's dependence on imported crude oil to meet domestic demand has been a matter of concern for years. Delivering the inaugural address at the global energy summit - Urja Sangam - in 2015, Prime Minister Narendra Modi had called for enhancing domestic oil and gas production to cut the import burden. He aimed at lowering it by at least 10 per cent by 2022 - to coincide with the platinum jubilee of India's independence. But this target is far from being achieved and the country's import reliance has only risen.
While it took UPI three years to reach a billion transactions in a month, the next billion came in just a year. Digital payments, especially UPI, saw increased adoption in 2020 due to the Covid-19 pandemic.
"Our relationships with each state are based on US national interests in relation to that state. The US-Pakistan relationship is a long-term, broad-based partnership based on factors such as strong trade and investment, security interests, and long-standing cultural and educational ties," the US Embassy said in a statement on Thursday.
Sukanya Verma applauds the man, the movies and the many, many, MANY memories he's created on big screen through 80 Amitabh Bachchan moments.
Surge in UPI transactions is because of an increased consumer interest in making bill payments and recharging mobile phones online, and purchase of non-essential goods on e-commerce platforms.
Yes Bank customers will be able to access full banking services from Wednesday evening, as the moratorium will be lifted earlier. The RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3. However, the government in a notification on Saturday said the moratorium will be lifted by 18:00 hrs on March 18.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'What's the point of technology if it can't be used'
Unified Payments Interface (UPI), the flagship payments platform of the National Payments Corporation of India (NPCI), touched a record high both in terms of volume and value of transactions in June after a slump in April and May. The platform recorded 2.8 billion transactions worth Rs 5.47 trillion in June, up 10.6 per cent in volume terms and 11.56 per cent in value terms over May. This is in sync with the opening up of the economy as Covid cases gradually came down from its peak in mid-May and lockdowns were eased in various places.
Excerpt from Shahid Afridi's autobiography where he had said that Gautam Gambhir has an attitude problem. Gambhir reminded Afridi of ICC World Cup 2007 final (India versus Pakistan) where the Pakistani batsman had scored a golden duck whereas Gambhir had slammed a match-winning half-century.
Enthused by rising potato prices after a prolonged slump, Pradeep Sharma was planning to sow the crop on his 15-acre farm near Agra slightly earlier than usual. The delayed departure of the southwest monsoon also prompted his decision, since the good soil moisture would have saved at least one initial irrigation. But the acute shortage of diammonium phosphate (DAP), a crucial nutrient ahead of the sowing season for potatoes, nipped those hopes in the bud. DAP is the second-most used fertiliser in the country after urea.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
From Asgard's naughtiest imp to Arsene Lupin's biggest worshipper in Paris, Sukanya Verma notes OTT is full of curious options this week.
Nandan Nilekani complimented RBI on granting licenses to payments banks, calling it 'a great revolution'.
Fund transfer through Facebook is meant for tech-savvy customers.
Delhi government had introduced the scheme in 2016 seeking to check dropout of the students and improve education quality with special focus on the weakest students.
The Reserve Bank on Friday retained the GDP forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth. In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections. "The ebbing of infections, together with improving consumer confidence, has been supporting private consumption," he said, and added the pent-up demand and the festival season should give further fillip to urban demand in the second half of the financial year.
Unified Payments Interface launched to simplify mobile banking.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
Sukanya Verma celebrates The Legend's 25 distinctly different moods.
Stars celebrate International Yoga Day.
In a business friendly move, the Reserve Bank of India on Friday said that the Real Time Gross Settlement (RTGS) system, used for large value transactions, will be made available round-the-clock in the next few days. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
In this month itself, UPI can hit 2 billion transactions and by March 2021, it should reach 2.15 billion transactions in a month.
The IMPS platform has 28 banks under it and account holders of any of these banks can use the newly launched service, Sharma said, adding that there will be no charges for either sending or receiving the money.
RuPay National Common Mobility Card's offline wallet can be used to make ticket payments in transit, including in metros, cabs, etc, enabling automatic, quick, cashless payments.
India saw growth of around 213 per cent in the number of real-time payments processed over the past year.
Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
As unified payments interface gets popular, cash transactions will come down as most small payments will be routed through this.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
In the past year, Harsh and Heena Mandavia risked their lives and provided 23,000 meals to the poor and needy during the lockdown. What made them do it?
According to the report, though the law provides criminal penalties for official corruption, the Indian government did not implement the law effectively.
From oblivious infant to puzzled tot to fashionable imp, Aaradhya's Cannes evolution is no less fascinating than her mum's sartorial accomplishments.
No one deserves the title thespian more than Dilip Kumar, notes Shreekant Sambrani.
Here's what your favourite Bollyood celebrities are tweeting.
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