In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by the RBI for transactions processed in the RTGS and NEFT systems, RBI said.
Twitter has blocked several accounts and tweets after the government asked the microblogging platform to take action against 250 handles and posts for containing 'false and provocative content' related to the ongoing farmers' agitation, according to sources.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
Unanimously confirmed by the Senate last week, Panchanathan, 58, from the Arizona State University, replaces White House Office of Science and Technology Policy (OSTP) Director Dr Kelvin Droegemeier who served as Acting Director of the National Science Foundation (NSF).
'Pakistan was very mature in the way it dealt with the incident.' 'India too owned up to the accident.' 'The whole incident was resolved quite amicably.' 'Both countries should be proud of how they have handled this situation.'
Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April.
The government has been gearing up to place tighter restrictions on the import of 371 items - ranging from toys and plastic goods to sports items, and furniture worth $127 billion.
Parliament and state legislative assembly are regarded as 'sacred places' and there can be no place for disorderly conduct in the House, where members are expected to show statesmanship and 'not brinkmanship,' the Supreme Court said on Friday.
James Wilson explains why Indians are destined to silently suffer the cash shortage for half a dozen more months.
Prime Minister Manmohan Singh on Thursday said a strong domestic manufacturing base in electronics and telecommunications will mitigate burden of growing imports for the sector.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
Shortage of semiconductors, price hikes pull January auto sales into red. Dec had seen sales grow for 1st time this FY, which dealers called a one-off.
Taking a dig at China, Defence Minister Rajnath Singh on Sunday said 'some irresponsible nations' with their narrow partisan interests and hegemonic tendencies are coming up with wrong definitions of the UN Convention on the Law of the Sea.
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.
NITI Aayog had been asking for Rs 7,500 crore for three years to set up an AI framework.
As many as 20 central public sector enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday.
The Samajwadi Party, the Rashtriya Lok Dal and some smaller parties will contest the 2022 Uttar Pradesh assembly polls together, and an announcement in this regard would be made soon, SP chief Akhilesh Yadav said on Tuesday.
India has too many small companies and this is inefficient. It should instead have only a handful of very large players running its economy and these giants can then compete with the world, observes Aakar Patel.
He has left no one in any doubt about his ability to take bold, even out-of-the-box, decisions, to gauge the feelings and aspirations of the common people at the grassroots and to ensure that polices and schemes do not remain on paper, but are implemented, says B S Raghavan, the distinguished civil servant.
For the past few weeks, the government has been in an overdrive, pushing stuck projects with the larger aim to improve the country's economic growth, which had fallen to a four-year low of 4.4 per cent in the first quarter of this financial year.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. 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.
It has become common for our trade pundits to make emphatic claims that India is set to become the next major global manufacturing hub.
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
Several private hospitals across the country said they have no clarity on procuring COVID-19 vaccines under the new policy announced by Prime Minister Narendra Modi and that it has led to the vaccination being put on hold at their centres.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
Prime Minister Narendra Modi on Sunday said he regrets not being able to learn the world's oldest language Tamil during his long political innings as a chief minister and prime minister.
Work on a dozen decisions to start by next week.
The US National Security Agency and the Federal Bureau of Investigation spied on five prominent Muslim-American activists, including an Indian-origin attorney, according to the leaked documents which showed use of objectionable religious slurs against these individuals.
Roads are becoming smarter even if the people driving on it are not. A set of smart technologies is making construction, maintenance, and traffic management much more efficient.
During the month, inflation in vegetables shot up to 35.99 per cent, as against 26.10 per cent in October. Likewise, the prices of cereals and eggs grew at a faster pace of 3.71 per cent.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
'An armed helicopter equipped with counter-drone systems will provide the airborne counter-drone capability and flexibility needed to protect India's critical assets.'
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The tiny Central American nation of El Salvador has embarked on an interesting experiment by recognising bitcoin as legal tender. This is proving painful for many of its citizens but it's a useful "pilot" project for larger economies that are contemplating the peculiarities of this new asset class. El Salvador has a population of 6.5 million and GDP of about $27 billion.
The US has been, historically, a sleeping partner in India-China relations. Today, any attempt by the Modi government to make a bilateral move to improve relations with Beijing could upset Biden's apple cart, notes Ambassador M K Bhadrakumar.
ICT products make up a minuscule $ 407 million, out of the $ 35.54 billion of total inbound shipments from the US, as of now.
The country's largest lender State Bank of India has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, chairman Dinesh Khara said. The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
Cyber crimes caused by the insured's employees also get covered under the policy but would exclude the actual perpetrator.
