Amid an existential crisis facing the firm over Rs 50,000 crore unpaid dues towards the government, billionaire Kumar Mangalam Birla on Wednesday stepped down as the chairman of Vodafone Idea Ltd. Birla -- who had in June offered to give away his holding in the joint venture with Britain's Vodafone to the government -- will cease to be a director and non-executive chairman of the company at the end of business hours on Wednesday, VIL said in a filing to the stock exchanges. It did not give any reason for Birla's decision. He will be replaced by Himanshu Kapania (who was earlier managing director and CEO of Birla's Idea Cellular) as the new chairman of Vodafone Idea Ltd.
The telecom regulator on Friday released a list of 40 "defaulter" principal entities, including large banks like HDFC Bank, SBI and ICICI Bank, that are not fulfilling the regulatory norms on bulk commercial messages despite repeated reminders. Hardening its stance on the issue, the Telecom Regulatory Authority of India (TRAI) warned that defaulting entities should comply with the stipulated requirements by March 31, 2021 "to avoid any disruption in the communication with customers" from April 1, 2021. "As sufficient opportunity has been given to principal entities/ telemarketers to comply with the regulatory requirements and that the consumers cannot be deprived of the benefits of the regulatory provisions any further, therefore it has been decided that from April 1, 2021, any message failing in the scrubbing process due to non-compliance of regulatory requirements will be rejected" by the system, TRAI said in a statement.
Look carefully at any ad or pop up that tempts or attracts you with freebies and offers etc. It could be a scam, warns Niranjankumar Upadhye.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
Earlier last month, for the first time ever, an anonymous hacker was served with a restraining order as a non-fungible token (NFT), reports Shivani Shinde.
Demonetisation and Agniveer reveal the two mindsets India has become. In both these government schemes, one sees a desire to play the country like an orchestra anchored by conductor/conductors, argues Shyam G Menon.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
These sweeping financial sanctions follow the action earlier this week to cut off Russia's frozen funds in the United States to make debt payments.
DCC is the answer to your currency woes says K Veeraraghavan.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The preference for digital banking now cuts across all customer segments.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
The teen, who was with her younger sister when the attack took place at Mohan Garden near Uttam Nagar, has named two persons who could be responsible for the attack.
The funds will be used to expand the merchant offerings across India to equip them with technology and various other services.
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
FATCA is aimed to strengthen business ties.
Sebi has now said any default of payments of interest or principal on loans taken from financial institutions, including banks, will have to be disclosed if it continues beyond 30 days.
The government is also considering mandating payments beyond a prescribed threshold only in card/digital mode.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
At a time when services are rapidly digitising in India, enterprises are witnessing a rise in cases of sensitive data exposure risks and breaches.
After the Ukraine war, coke prices just soared and most units don't have money left to buy raw material. Customers are not absorbing the price escalation'
The FIR was lodged at the Sector 20 police station on Thursday after the complainant, a Noida resident, alleged that her Amazon Prime account got hacked and the problem remains unresolved despite assurance from Amazon boss Jeff Bezos, an official statement said.
Employers will also have the option to pay wages in cash.
Capital markets regulator Sebi on Monday came out with a framework for operationalising the gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts (EGRs). The stock exchange desirous of trading in EGRs may apply to Sebi for approval of trading in the new segment, the regulator said in a circular. The bourses can launch contracts with different denomination for trading or conversion of EGR into gold. Under the new framework, the entire transaction has been divided into three tranches-- creation of EGR; trading of EGR on stock exchange and conversion of EGR into physical gold.
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
India's Internet economy has two choices: An immediate $30 billion Sale-and-Leaseback or a $3 trillion value harvesting over decades, observes Vibhu Arya.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
From offering office premises that can be converted into isolation wards to earmarking funds to be used for procuring kits, ventilators as well as personal protective equipment for health care workers, India Inc has put a united front to combat the unprecedented crisis facing the country.
Telecom companies have been desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore.
Air India is seeking government approval to raise a Rs 2,000 crore loan and refinance $819 million aircraft debt, which would help tide over the financial crisis.
The Central Bureau of Investigation (CBI) on Friday raided the home of Delhi Deputy Chief Minister Manish Sisodia and 30 other locations in connection with alleged corruption in the implementation of the Delhi Excise Policy.
Dissenting states including Chhattisgarh and Kerala, have made it clear they are in no mood to relent. They want the Centre to borrow the entire Rs 2.35 trillion this fiscal citing bleak fiscal position.
Every customer, on opening a Payments Bank account, will get a cashback of Rs 250 as soon they bring deposits of Rs 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
The chairman of mortgage giant HDFC Ltd in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online.
Experts believe that the sector should not jump to conclusions on WhatsApp Pay, which is still in its 'Beta testing' phase.
With no payments coming in, HAL for the first time ever taken a bank loan of Rs 7.81 billion.
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