The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
The document titled 'Details of the steps in the decision making process leading to the award of 36 Rafale fighter aircraft order' stated that the process as laid down in the Defence Procurement Procedure-2013 has been followed in procurement of the Rafale aircraft.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
PwC one of the big four audit firms, has expressed disappointment at the conviction of two former partners in the Satyam scam.
Long accused of being a route for avoiding taxes for foreign investments into India, Mauritius says it has put additional safeguards in place to thwart such wrong perceptions and to boost its image as a preferred global financial centre.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
Medha is an organisation created with the idea of bringing in better employment opportunities and life for educated youth.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Industries with the highest number of top-rated companies at risk were hospitality/travel, media and entertainment, retail, financial services and consumer goods/manufacturing
Infosys said it is in discussion with over 10 institutions globally for deploying the solution
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
The budgetary allocation for the sector is Rs 60,908.22 crore, with Rs 6,400 crore earmarked for the centre's flagship health insurance scheme Ayushman Bharat- Pradhan Mantri Jan Arogya Yojna (AB-PMJAY).
In India post the success of masala and green bonds on the LSE, Nikhil Rathi tells Rajesh Bhayani that there are many international investors interested in buying into the India story
India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans. Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during the first round of Discovered Small Field (DSF-1) auctions. Adbhoot is in a 50:50 joint venture with the Bombay Stock Exchange-listed Hindustan Oil Exploration Company that has some five oil producing assets and over 10 blocks across the country.
With the One Rank One Pension scheme for military veterans set to be notified soon, officials of central paramilitary forces, too, may be in for good news soon as the government is to take a final decision on granting of "organised services" status to them.
Perhaps the way forward could be the introduction of uniform rating standards - on the lines of accounting standards for the accounting profession - with a separate regulating authority for enforcing those standards, says Sudipto Dey.
Post Brexit, Irish universities are seeing a surge in applications says Barry O'Driscoll, senior spokesperson for Education in Ireland.
WhatsApp has drawn massive criticism from users globally, including India over concerns that data was being shared with its parent company, Facebook. WhatsApp, on its part, has maintained that messages on the platform are end-to-end encrypted and that neither WhatsApp nor Facebook can see the private messages on WhatsApp's platform.
On Tuesday, the state-run Mumbai Metropolitan Region Development Authority, the planning body, indicated that it expected to award the contract before December, which would pave the way to kick start construction in the same month.
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
King Salman and Narendra Modi will find common ground to intensify cooperation against jihadi terrorism, says Tarun Vijay, MP.
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
Prime Minister Modi felt there were too many silos with no arrangement to take a comprehensive view on national security. The PM has entrusted NSA Ajit Doval to evolve a comprehensive roadmap and get it implemented, reveals Nitin Gokhale, Editor-in-Chief, Strategic News International.
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.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Good intentions and elaborate roadmaps apart, there is an urgent need for the Tamil Nadu chief minister to come up with branded schemes like MGR's meal scheme, asserts N Sathiya Moorthy.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
'India needs offensive and defensive security measures to protect itself.'
The Gomti Riverfront Development project, the Agra-Lucknow Expressway, the Jai Prakash Narayan International Centre and the efforts towards the beautification of Old Lucknow are some of Akhilesh Yadav's initiatives that are the subject of investigation.
The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China
The petition was mentioned on Tuesday by Income Tax counsel Beni Chatterjee and Vodafone lawyer Fereshte Sethna before a bench headed by Chief Justice Mohit Shah.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
Court documents show that the Kerala government, whose case was treated as the 'lead case' among all the petitions filed against Adani, made four allegations to convince the court to cancel the contract for the Thiruvanathapuram airport. The state's legal team couldn't substantiate most of these allegations with documentary proof and its self-defeating arguments in court failed to convince the judges to cancel the contract given to Adani. The battle for the Thiruvananthapuram airport between the Communist-led Kerala government, the Adani group and the Modi government over the past year hasn't had a dull moment since the proceedings began. Claims of a smoking gun turned out to be a damp squib, says Sai Manish.
There has been a welcome focus on fundamental reforms, time-bound programmes that fix accountability and the use of technology. The upcoming Budget could build on these initiatives, says Abhas Jha.
A 58-year-old man died after a power transformer fell on him in Raigad district. 2 people died and 3 were injured in two separate cyclone-related incidents in Pune.
The direct tax collections are likely to fall short of the revised Budget target by Rs 650 billion and, in fact, were Rs 150 billion lower than the original estimate for the fiscal
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