The Sebi, which has been mandated by the Supreme Court to facilitate refund of Rs 24,000 crore (Rs 240 billion) with 15 per cent annual interest to bondholders of two Sahara group firms after ascertaining their genuineness.
The cards should be issued strictly for use in India and transactions settled in Indian rupee.
A comprehensive look at one of the most-preferred tax-saving investment option for the salaried class
The Supreme Court on Friday dismissed a plea seeking stay on further sale of electoral bonds ahead of assembly elections.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
The Home Ministry said that 'Aadhaar' is strong on ensuring unique identity, 'however, uniqueness of identity is not a necessary condition to ensure authenticity of identity or genuineness of other entries or records of Aadhaar number', sources said.
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
The government has also announced a slew of measures to ease cash flow for the rural sector.
Railway passengers can book their tickets and do shopping using RuPay pre-paid debit cards.
Capital market regulator Sebi on Wednesday announced introduction of uniform forms and documents for the purpose of customer identification by different market intermediaries like stock exchanges and mutual funds, a step intended to bring uniformity to the process.
It might be a cheaper option, but lack of clarity is choking its growth
ICICI Bank, the largest private sector lender in the country, is offering an 'instant account number' if you apply for a savings deposit account through its website.
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
Ankit Mehra, founder and CEO, GyanDhan, an education financing marketplace, tells you how to apply for an education loan in the pandemic.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
Under the PMGKY scheme, black money holders can deposit unaccounted cash in account which will be subject to 50 per cent tax and 4-year interest free lock-in for the remaining 25 per cent of the amount
The statutory status will provide a legal foundation to Aadhaar.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
The size of the Indian financial services market could touch around $340 billion in the next few years.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
Telecom Secretary J S Deepak has resolved the toughest issues facing the sector, but his real test will be in delivering on the govt's Digital India dream
'Lifestyle, peer pressure, lure of extra pocket money and many other factors are responsible why youth are taking drugs.'
The issue of electoral bonds has snowballed into a political flashpoint after following reports that said the Reserve Bank of India and Election Commission had reservations against them but they were overrule by the Modi government.
To participate in an OFS, investors will have to open a trading A/C
According to the committee, single overseas investments of more than 10 per cent in a company should be considered as Foreign Direct Investment while those less than 10 per cent should be classified as foreign portfolio investment.
Digital lending apps extend small amounts at exorbitant rates. Payment delays invite messages to customer or close family members, often with sensitive information such as Aadhaar and PAN Card scans.
Market intermediaries, who are constantly on the lookout for avenues to reduce overhead and compliance costs, have found a new tool.
Mukesh Ambani said, by March 2017, it will cover 90 per cent of India's population
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Yes Bank was the top loser in the Sensex pack, crashing 8.36 per cent, followed by NTPC, M&M, Vedanta, Sun Pharma and TCS, which lost up to 4.81 per cent lower.
But mobile wallet companies say many consumers are not ready to give out their PAN
Six months after a Rs 400-crore fraud was detected in its Gurgaon branch, the Reserve Bank of India (RBI) on Monday rapped Citibank for the episode.
Now SEBI registered Mutual Funds would be allowed to accept subscriptions from foreign investors who meet the Know Your Client (KYC) requirements for equity schemes.
CBI and Enforcement Directorate are probing the huge remittances to Hong Kong from the bank.
The move to allow payments through digital wallets could give a fillip to distribution and reach for these investment vehicles, say experts.
Priya Nair finds out how investors of mutual funds, shares, unclaimed bank deposits, insurance policies can redeem long-forgotten investments.
The EPFO launched one-page simplified forms for withdrawal.
Each financial product is governed by a different regulator and the rules for gifting vary, points out Tinesh Bhasin.
