Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
Telecom operator Bharti Airtel's CEO has warned customers about rising cases of cyber-frauds, citing a recent instance of a fraudster who posed as company executive and under the guise of updating KYC form, tricked a user into revealing bank details to transfer large amount from the bank account. In an email outreach to subscribers, Gopal Vittal, CEO of Airtel urged users to be vigilant against such cases of cyber fraud that are becoming "alarmingly frequent". Vittal spoke of a recent case where a cyber-fraudster posing as company executive called up an Airtel customer on the pretext of updating his Know Your Customer (KYC) form, tricked him into revealing his bank details and transferred a large sum of money from his bank account.
The Securities and Exchange Board of India (Sebi) has deferred the diktat requiring foreign investors to disclose their mobile number, email addresses and income details to depositories, a move believed to be aimed at curbing practices such as round tripping and money laundering. "Based on the representations received from MIIs (market infrastructure institutions), Sebi has decided to extend the deadline for making 6-KYC attributes mandatory for new accounts opened by 1 month to July 1, 2021. "Participants are accordingly requested to take note of the above and ensure compliance," NSDL said in a note on Tuesday. The regulator is also meeting custodians this week to thrash out a solution and address investors' concerns.
The case pertains to the ED probe into the alleged financial irregularities in the party-promoted Young Indian that owns the National Herald newspaper.
To overcome your fear of the property being taken over, draw an ironclad agreement with a good lawyer's help, recommends Sanjay Kumar Singh.
Key relaxations traced in final regulations.
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
When shares in the electronic form are available with the depositories, it acts as primary evidence for those who hold the shares.
The RBI is considering permitting FII and commercial banks to trade on Indian commodity exchanges.
Sebi on Monday barred total 85 entities, including Sunrise Asian Ltd, from the capital markets for up to one year for manipulating the company's share price. In its order, the regulator restrained Sunrise Asian and its then five directors from the capital markets for one year and the 79 connected entities for six months. The Securities and Exchange Board of India (Sebi) had conducted an investigation in the scrip of Sunrise Asian for the period from October 16, 2012 to September 30, 2015, based on a reference received from the Principal Director of Income Tax (Investigation), Kolkata.
911 have been traced by the Securities and Exchange Board of India (Sebi), while the rest of the 402 are not traceable on the bourses
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
Traders who pay in rupees generate over Rs 50 crore in daily cryptocurrency volumes. Indians actually invest a great deal more in forex-denominated trades, observes Devangshu Dutta, explaining why it is impossible to ban cryptocurrency.
Growth in the eight core sectors jumped to 8.5% in April, due to a sharp pick-up in refinery products and a commensurate rise in electricity generation.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
The finance minister could well be on her way to setting a record of achieving the biggest single-year reduction in the government's fiscal deficit, explains A K Bhattacharya.
'The government that is talking all the time about national security and national interests should be concerned.' 'When national interests are jeopardised by their own project, they should pause and listen.' 'Whether it is the BJP or the Congress, they all want control over the people.' 'They don't give a damn if anything happens to the people of the country; they are only interested in what they can get out of the data.'
The CJI has also kept with himself matters concerning arbitration, habeas corpus, criminal cases, contempt of court and ordinary civil matters.
2,138 firms deposited unaccounted Rs 5,000 cr in zero-balance accounts during the note ban
The action follows multiple summons issued by the ED against Raut, the latest being on July 27.
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.
The industry status will help the sector access bank lending at average interest rates
A pan-India 'fraud-to-phone' network has been busted by security agencies, which have also arrested eight people and seized nearly 300 new mobile phones bought with stolen funds, officials said on Tuesday. Moreover, 900 mobile phones, 1,000 bank accounts and hundreds of unified payment interface (UPI) and e-commerce IDs of this gang have been identified and are under investigation. Nearly 100 bank accounts, and debit and credit cards have been frozen by the security agencies so far, officials said.
While agency sources informed that Gandhi recorded his statement and checked its transcript minutely, Congress leaders said the investigators took multiple breaks during his questioning
In the Silicon Valley of India, one can use the cryptocurrency to pay for food, buy bus tickets, order stuff online, and even get a haircut.
The Unified Payment Interface could propel banking into a new era
Your high expectations and attachment to certain property can make you buy property which is not financially suitable.
A strong start-up ecosystem can propel investment, jobs, and demand creation, and for that, substantial growth capital is required.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
The changes made in the revised GST draft throw up fresh issues but, overall, most of these look sensible, says T N C Rajagopalan.
Handle cards like you would handle cash.
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
Sources said that the capital markets regulator Securities and Exchange Board of India has come across quite a few cases where GDR route could have been used for round-tripping of funds in the name of capital-raising activities of listed companies from abroad.
Incomes such as dividend, interest on tax-free bonds, eligible gifts, etc should also be reported even though they are tax exempt, suggests Sanjay Kumar Singh.
So what if your bank has imposed/will impose a transaction fee of Rs 20 for using ATMs after your fifth visit in a month? You can still remain within your free transaction limits and avoid being charged at all. Wondering how it is to be done? Read on.
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