A total of 64,275 declarations were made under the scheme, an average of Rs 1 crore per disclosure. This is expected to translate into tax collection of about Rs 30,000 crore from the scheme, of which the government exchequer should get around Rs 15,000 crore by the end of 2016-17.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
'The lesson you taught was that you will free the murderers of Bilkis' three-year-old daughter. You also taught us that Ahsan Jafri can be killed. You taught the lesson of Gulbarga bakery, you taught the lesson of Best bakery lesson'
About 300 fintech firms are under investigation by the ED for allegedly partnering 38 non-banking financial companies for predatory lending practices to charge borrowers high interest rates.
The Enforcement Directorate (ED) on Thursday said it has arrested Karvy Stock Broking Limited (KSBL) CMD C Parthasarathy and group CFO G Krishna Hari in connection with a money laundering investigation linked to alleged diversion of clients' securities of over Rs 2,873 crore. The agency produced the two-- already lodged in central jail, Bengaluru after being arrested by the police-- before a special Prevention of Money Laundering Act (PMLA) court in Hyderabad on January 20 and on January 25 it remanded them to four days of ED custody from January 27-30, it said in a statement. The ED case, filed under the criminal provisions of the PMLA, is based on multiple Telangana Police FIRs filed by the HDFC Bank, few other banks and investors alleging clients' securities were illegally diverted by Karvy Stock Broking Ltd and these were later pledged with banks and non banking financial companies (NBFCs) for loans which were later "defaulted".
The transfer of powers to the Centre has been necessitated after the ownership of the SBI was transfered from the RBI to the government.
AS Bindra, the father of ace shooter and Olympic gold medallist Abhinav Bindra, has defaulted to banks and financial institutions. The money claimed from Bindra is over Rs 75 crore (Rs 750 million). He had borrowed it in the 1990s to set up a meat processing plant under Punjab Meats Ltd.
The AAP claimed that Sisodia would be arrested on Monday and alleged the move was initiated in view of the forthcoming assembly elections in Gujarat where it is in a direct contest with the BJP.
State Bank of India will lend about Rs 20,000 crore (Rs 200 billion) for operators participating in the auction for third-generation (3G) spectrum, SBI Chairman OP Bhatt said.
Bharatiya Janata Party President Amit Shah said Pakistan would not have been holding a part of Kashmir and Article 370 would not have existed had Sardar Vallabhai Patel handled the Kashmir issue.
Currently, the fee is Rs 15 per financial transaction. This has been recommended to be revised to Rs 16.50, plus service tax (12%), taking the amount to Rs 18.48.
The Aam Aadmi Party (AAP) and the Asaduddin Owaisi-led All India Majlis e Ittehadul Muslimeen seem to have dented the Congress's sway over the votes of minorities in Gujarat in the just concluded assembly polls, bringing down the main Opposition party's vote margin considerably in various seats across the state.
Asian Games gold medallist and Olympian Tulsidas Balaram, part of Indian football's 'holy trinity' in the 1950s and 60s, passed away in Kolkata on Thursday after a prolonged illness, sources close to his family said.
The future challenger to Narendra Modi would be somebody who can bring the Hindus and Muslims together again. The Hindus as Hindus, not broken caste groups, asserts Shekhar Gupta.
Russia's Sputnik V vaccine is currently being manufactured in India by Dr Reddy's Laboratories.
Make sure buying a house won't lead to compromises on other crucial financial goals.
The State Bank of India (SBI), in association with Air-India and Singapore Tourism Board, has launched a personal loan scheme for travel to Singapore, valid for residents of Andhra Pradesh.
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.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
National UPSC topper from Chennai, Divyadarshini, speaks about her preparation tips, her success mantras, her failure to clear the same exam in her first attempt, how she coped with it and things that she would like to change in India as an Indian and an IAS officer.
The agency is also examining the documents seized during raids at 31 places including the residence of Delhi Deputy Chief Minister Manish Sisodia on Friday, they said.
Resettlement of 12,000 families living on banks of Sabarmati Riverfront cost Ahmedabad Municipal Corporation about Rs 1,200 crore
Housing sales mostly declined during the first and the second wave of the coronavirus pandemic but prices did not fall in most of the cities but rather increased in some cities, according to the Economic Survey 2021-22. The pre-Budget document also highlighted that the housing demand recovered after both the waves on the back of pent up demand, low interest rates on home loans and reduction in stamp duty by some states. The survey has analysed the National Housing Bank's data on change in housing transactions in Q1FY21 (first COVID-19 wave) and Q1FY22 (second COVID-19 wave) over the pre-pandemic levels of Q1FY20. It also looked into change in housing prices index during this period.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
Strangely, a few days after filing the charges, the CBI teams arrived in Hyderabad and Mumbai to raid GVK's offices and found incriminating evidence, a reversal of the normal course of events.
Job postings activity in April witnessed 3 per cent decline sequentially as the country is hit with the second wave of the pandemic leading to lockdowns, according to a report. The data indicates that the employment index saw a decline in job posting activity in April compared to March, by 3 per cent, according to the Monster Employment Index. The overall job postings also witnessed a decline of 4 per cent year-on-year as of April 2021, compared to April 2020.
]If Andhra Pradesh's middle class is denied salaries and pensions or, if these are delayed, it will rise against Jagan Mohan Reddy with the same fervour with which it voted him in.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
The upcoming Budget gives Finance Minister Arun Jaitley a chance to let states boost spending.
Prohibitory orders were imposed in Delhi and parts of Karnataka. Police kept tight vigil in Kerala. In Gujarat, 50 people were arrested for Thursday's violence.
It has been lowered to 'IND BBB+' from 'IND A-', besides placing the rating on 'Rating Watch Negative' (RWN).
The Central Bureau of Investigation has arrested an Reserve Bank of India official and a JDS leader K C Veerendra, who is also a casino owner, in connection with separate cases relating to alleged illegal conversion of currency post-demonetisation.
The idols of Lord Ganesh, the god of prosperity and wisdom and a slayer of obstacles ('vighna-harta'), will be installed in homes across the state with pomp and gaiety.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
People came out of homes in large numbers, offered namaz at mosques, greeted each other with hugs and exchanged food and gifts across the length and breadth of India to celebrate Eid-ul-Adha on Sunday.
The Nizam's descendants, Prince Mukarram Jah -- the titular eighth Nizam of Hyderabad -- and his younger brother Muffakham Jah, joined hands with the Indian government in the legal battle against Pakistan for possession of over around 35 million pounds lying with NatWest Bank plc in London.
Eleven companies, which owe the bank Rs 843 crore, are untraceable.
When elected on July 18 -- which is almost a certainty, given the NDA's numbers in the electoral college -- Droupadi Murmu will be the first President born after Independence.
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