This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
In an interview to ANI, Union Home Minister Rajnath Singh spoke on various issues, including the Balakot air strikes to the status of Kashmir to the party's manifesto.
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
India does not have a stringent privacy or data protection Act.
Finance Minister Arun Jaitley on Friday said Switzerland has agreed to share information on Indians having illicit money in Swiss banks on independent evidence provided in each case to the Alpine nation.
Jaitley said, "I welcome this investigation. I think it is a healthy step that these kind of exposes are being made. I have been repeatedly saying that the world is now going to increasingly become more transparent, countries are cooperating with each other and slowly all this information is going to come out as a result of various global initiatives which have been launched."
Bulk seizures of new currency continued on Saturday with some more incidents being reported, including one in which the IT department recovered Rs 5.7 crore cash in new notes secretly stashed inside the bathroom tiles of a hawala dealer in Chitradurga district in Karnataka.
A random check of the database for India displays about 22 offshore entities, 1,046 officers or individual links, 42 intermediaries and as many as 828 addresses within the country ranging from the tony and posh locations of metropolitan cities like Delhi, Mumbai, Kolkata and Chennai to mofussil locations like that in Haryana's Sirsa, Bihar's Muzaffarpur and Madhya Pradesh's Mandasaur and state capital Bhopal.
If India is to urbanise successfully, it has to focus on Tier 2 cities with a population of one-five million, observes T N Ninan.
The BJP said it is legal with adequate safeguards and in the interest of national security..
ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries --Thailand, Dubai, Singapore and Hong Kong.
In a maiden initiative, the Election Commission has introduced e-filing of affidavits by candidates for the forthcoming Lok Sabha and assembly polls.
The finance ministry on Friday informed a parliamentary committee that smuggling of fake currency has totally stopped post demonetisation and the tax department has seized Rs 515 crore in cash, including Rs 114 crore of new currency notes, up to January 10.
Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Sources said that the capital markets regulator Securities and Exchange Board of India has come across quite a few cases where GDR route could have been used for round-tripping of funds in the name of capital-raising activities of listed companies from abroad.
'The number of STRs received in 2016-17 is 4,73,006 which is more than four times as compared to 2015-16 and this increase is attributed to demonetisaton exercise...,' the Financial Intelligence Unit's report has said.
'The government must covertly eliminate the leaders of terrorist organisations abroad so as to eliminate the problem at its roots,' recommends Brigadier Gurmeet Kanwal (retd).
'I'm a big fan of Hindu and a big fan of India -- big, big fan.'
'Initially, we had 48 teams, now it has been enhanced to 133 teams: that is for every 10 to 12 villages, there is a team that is working round the clock.' '133 x 3, that is, given the 8-hour shifts.' 'They are monitored every hour, they are equipped with GPS -- everything is tracked live, real time, from the control room.'
Nine out of ten terror cases that are reported have had a hawala transaction, reports Vicky Nanjappa
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
India, ranked the fifth largest retail destination globally, at present employs more than 21 million people in organised and unorganised retail and contributes to 13 per cent of the country's GDP.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
Ajai Shukla presents an action plan for Defence Minister Rajnath Singh to fix the systemic weaknesses in defence.
About 3,000 internet connections, including those of the Ministry of Defence, security agencies, the Central Bureau of Intelligence and banks in Delhi, have been found to be compromised, probably for snooping from foreign locations, according to a report submitted by cyber security experts to government.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
'The digital economy will generate 60 to 65 million jobs by 2025, 20 million more than the 40 to 45 million existing jobs that are in danger of disappearing or getting automated,' points out T N Ninan.
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta.
'The execution has been 100 per cent faulty.' 'The scheme is also a stupid one, a real Tuglaq Darbar scheme.' 'This way of attacking black money is the most ineffective one.'
'With the Citizenship Amendment Bill, Hindus from Pakistan can come to India. They have got a way,' says Gurumukh Jagwani who came to India on his honeymoon, loved the country so much that he stayed back and got Indian citizenship.
Modi is seen as exceptional not only on account of his acts but also owing to his style. He appears to sacrifice his life for the people -- like a fakir, a figure he came to epitomize even more in 2020 by growing a long white beard. Charisma is above accountability, and Modi has grasped these dynamics.
No matter who replaces Sharif, India must maintain its guard, says Col Anil Bhat (Retired).
Noting that there is a huge potential in the agricultural sector, he said value added production through processing could add considerably to the economic growth.
In a further escalation of the confrontation between the Congress and the government, the opposition party claimed that a committee constituted by the Delhi government has found 'gross financial irregularities' in the DDCA during that period.
'Defence funding is channelled to State-owned research organisations where scientists are merely bureaucrats holding meetings and sending out minutes of meetings and press releases, but have long ago stopped any innovative work.' 'Unless this tragedy is fixed, India's chances to create world-conquering and job-creating new industries are slim,' says Ajit Balakrishnan.
'Being one of the 150 million upper middle class consumers, I can vouch that the average expenses on white goods or clothing are minimal. Indians are not consumerist by nature,' says Colonel Anil A Athale (retd).
