Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
The move towards indigenisation of defence procurement creates new opportunities for India's military industrial sector. The Government of India (GoI) has so far released five lists of items for positive indigenisation - these should be manufactured in India, rather than imported. Each item on these lists represents an opportunity for some local firm.
As the Indian currency hovers around its lowest versus the US greenback, several smaller and mid-sized companies are expected to face rough weather as almost 44 per cent of the foreign loans taken by Indian companies remained unhedged. According to the data sourced from the Reserve Bank of India, Indian companies raised around $38.2 billion in the financial year ended in March. Of this, only 56 per cent of the loans are hedged while the rest of the foreign loans remain unhedged, thus risking the companies to forex volatility.
While the most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips, a PwC report says implementation of a pan-India electronic toll collection system on national highways may help save approximately Rs 87,000 crore annually.
Prime Minister Narendra Modi will on Friday launch two schemes of the Reserve Bank of India (RBI) that may go a long way in changing how the household sector invests, and complains if anything goes wrong with their savings. These schemes - retail direct and an integrated ombudsman - will be launched by the Prime Minister virtually, in the presence of Finance Minister Nirmala Sitharaman. With the introduction of retail direct, a common man can directly take a position in government securities (G-Sec), considered to be the safest asset class a sovereign can offer.
A CBTR pertains to transfer of funds through various channels abroad.
'And that means all of us have to be very careful.'
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
It is imperative that young aspirants consider career options that will guarantee job security -- roles that are centred around technology.
E-invoicing would be implemented on a voluntary basis by those having an annual turnover of above Rs 500 crore from January 1.
After a group of young hackers beat companies that claim to spend a bomb on cyber security, Karan Choudhury reports on just how easy it is to exploit digital wallets.
The applications range from disaster recovery to predicting demand and understanding customer choices using artificial intelligence.
It is a classic case of extremes: The worst contraction in GDP along with the highest-ever levels of cash in the economy; and a severe dent in consumption together with strong growth in bank deposits and digital payments.
There were concerns that simply opening a bank account wouldn't constitute meaningful financial inclusion, as the poor would rarely use these accounts. However, recent data submitted to Parliament attests to increased account usage, says Ishan Bakshi.
EPFO is also contemplating providing permanent or universal account number to it all active members by October this year.
'Apparently the entire biometric database's demographic data is available, which means that every Aadhaar signup is wide open to identity theft.' 'The commoditisation of the method -- selling the log-in for Rs 500 -- indicates that scammers have already harvested whatever they wanted,' points out Devangshu Datta.
Unified Payments Interface launched to simplify mobile banking.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
The tax portal problem is a goof-up by both sides, and making Infosys the only villain in the story is quite unfair, argues Shyamal Majumdar.
IT firm Cognizant on Friday said it will give employees who are at associate level and below in India and the Philippines, an additional payment of 25 per cent of base pay for April in recognition of their extraordinary continuity-of-service efforts amid the covid-19 outbreak. The move is expected to benefit over 1,30,000 Cognizant employees in India.
Ayan Pramanik reports on former Infosys CFO V Balakrishnan's fintech firm, which aims to make borrowing easy for small firms and individuals.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
The government was also faced with problems on its balance of payments. It took steps to conserve declining foreign exchange reserves, and began to regulate the production, supply and distribution of gold. It banned forward trading in the yellow metal in November 1962, and introduced gold bonds as well, reveals the RBI's annual report for the year ending June 1963.
The interim report highlights key competition issues in the e-commerce space like deep discounting, the imposition of unfair terms and conditions, the growing dependence of brick and mortar establishments on online platforms, and opaqueness in search rankings.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
'Google and Facebook need to be tamed, their garb of 'Investing in India's future' need to be pulled off,' observes Vibhu Arya.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
With debit cards of 5 banks compromised, time to be very cautious while transacting. If possible, avoid non-bank ATMs.
Reports suggest this lot could fetch the cybercriminal as much as $130 million upon sale.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
Nandan Nilekani talks about moving towards a cashless economy and freedom of Internet, among others
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
Experts believe that under-reporting is likely to cause an underestimation of the spread of the disease.
"I am an academic and I have always made it clear that my ultimate home is in the realm of ideas," Rajan said in a letter to staff.
The 'severely' spreading virus of the Trojan family has been detected conducting its clandestine operations at the point of sale counters placed at retail terminals after the RBI made it mandatory in December last year for debit cards holders to punch in their PIN every time they make a purchase.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances