Jay Shah will not step down from his current role as BCCI Secretary during the upcoming AGM, as he is scheduled to assume his new position only from December 1.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
The governing International Cricket Council (ICC) is in talks with several boards which have yet to pay prize money from this year's Twenty20 World Cup to the players, sources told Reuters on Thursday.
Health insurance claims are often denied due to exclusions in policy terms. Buyers frequently overlook the fine print or misinterpret clauses.
India's second largest IT services company Infosys has been slapped with a 'pre-show cause' notice for alleged GST evasion to the tune of about Rs 32,403 crore. In a BSE filing, the Bengaluru headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crores for the period July 2017 to March 2022, towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice.
ICC is mulling a dedicated fund of at least US$ 15 million for Test cricket that will help increase the players' match fee and address the migration of talent to T20 leagues.
It is learnt that Lavrov is expected to travel to India either on Thursday or Friday after concluding a two-day visit to China.
AI-driven and deepfake-enabled cyberattacks are anticipated to become increasingly prevalent in 2025 with sectors like healthcare and finance most prone targets, according to a recent report. The India Cyber Threat Report 2025 by the Data Security Council of India (DSCI) and Seqrite, spotlighted the evolving tactics of cybercriminals and the rise of AI-driven attacks as a major concern. "Artificial Intelligence (AI) will be used to develop highly sophisticated phishing campaigns utilising deepfake technology and personalised attack vectors, making them harder to detect.
The India-US nuclear deal was aimed at ending India's nuclear isolation and nuclear apartheid, recalls Rup Narayan Das.
The two leaders had a complex relationship yet formed a partnership and even after their parting of ways, the two admired each other in their efforts for India's freedom.
The NPCI has permitted non-residents from 10 countries, including the US, Canada and UAE, to digitally transfer funds using the UPI platform from NRE/NRO accounts. The National Payments Corporation of India (NPCI) in a circular said it has been receiving requests for allowing non-residents to use international mobile numbers for transacting in Unified Payments Interface (UPI). Accordingly, the NPCI in a circular dated January 10 has asked the UPI participants to put in place a mechanism by April 30 under which non-residents having NRE/NRO accounts will be allowed to transfer funds using their international mobile numbers.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
A day after it received Rs 32,403 crore GST demand, Infosys on Thursday said Karnataka state authorities have withdrawn the 'pre-show cause' notice to the company and directed it to submit further response to the Directorate General of GST Intelligence (DGGI) on the issue. India's second largest IT company had made headlines on Wednesday after GST authorities slapped a Rs 32,403 crore notice on it for services availed by the company from its overseas branches for five years starting 2017.
Life insurance companies reported a 13.16 per cent year-on-year (Y-o-Y) growth in new business premium (NBP), totting up Rs 30,347 crore in October, even as the number of policies sold saw a sharp decline. The growth was largely driven by strong performance from private sector life insurers.
A cultural preference for sons in India may be expressed as 'son preference' or 'daughter aversion', arising from patrilocality, patrilineality, the cost of dowry, and old-age support from sons.
While most banks in India store all this data on Indian servers in their core banking systems, the current directive addresses new-age payment and fintech companies operating in the space
The start of BHIM's declining share coincided with the launch of Google Tez in mid-Septem
India is expected to be the top recipient of remittances in 2023 as inflows increase 12.4 per cent to $125 billion, said a World Bank report on Tuesday. Mexico will come next by receiving $67 billion and China will follow it at $50 billion. The key drivers for remittance growth in 2023 are a tight labour market in the United States, high employment growth in Europe reflecting extensive leveraging of worker retention programs, and a dampening of inflation in high-income countries. India's growth in remittances is expected to halve to 12.4 per cent in 2023 from a historic peak of 24.4 per cent in 2022.
The recent Reserve Bank of India (RBI) norms on tokenisation services, which will be offered by card networks, are likely to result in merchants and payment aggregators incurring a cost as they have to pay a fee to the networks. The merchants and the payment aggregators, in turn, may pass on the cost to the customers. The norms, which were issued by the banking regulator released on September 7, allow card networks like Visa and Mastercard to offer the tokenisation service.
'The Indian government is better prepared this time and has reached out to all contenders and not putting all eggs in one basket.'
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
'The committee has been constituted. Different government departments and FSDC members are part of it.'
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
After reports claimed that filings in patent offices in India, the US, and Europe did not mention ICMR or its scientists, but only BBIL and its scientists, the Hyderabad-based biotechnology (biotech) company clarified that in the "rush" to develop vaccines and file appropriate patents, BBIL had missed adding ICMR's name in the original filings.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
The ICC could not assess the likely maximum claims from the Global Cricket Corporation for violation of the ambush marketing clause.
Once implemented, customers making payments using Rupay card or BHIM UPI will get a cashback of 20 per cent of the total GST amount, subject to a maximum of Rs 100.
India and Saudi Arabia on Monday called on states to reject the use of terrorism against other countries and prevent access to weapons, including missiles and drones, to commit acts of terror.
Giving a new twist to his payment row with the Board of Control for Cricket in India, former India captain Sunil Gavaskar on Wednesday said it was former BCCI president Sharad Pawar who promised 'extra payment' to him for his services as an IPL Governing Council member.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
Omitted from the Governing Council of the Indian Premier League, a disgruntled Sunil Gavaskar said the Board of Control for Cricket in India, the promoters of the Twenty20 League, has not paid him a single penny for his services.
GST authorities have issued show cause notices worth Rs 1 lakh crore to online gaming companies for tax evasion so far, a senior official said on Wednesday. The official, however, said there is no data yet of foreign gaming companies registering in India since October 1. The government has amended the GST law, making it mandatory for overseas online gaming companies to register in India from October 1.
Thomas Isaac has been in and out of the national news in his role as Kerala's finance minister since 2018 for various path-breaking tax initiatives. But it is 2020 that he has become more prominent, principally in the GST council.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed. While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.
Tokenisation is the process of replacing debit and credit card numbers with a set of characters or tokens.
While Congress and the states ruled by non-NDA parties pushed for the Centre meeting its statutory obligation of covering the deficit, the Union government cited a legal opinion to say it had no such obligation if there was a shortfall in tax collections. The Centre as well as BJP-JD-U-ruled Bihar were of the opinion that the states should borrow to make up for the shortfall in the tax revenues that have been compounded by the COVID-19 crisis, sources said.
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