India did not yield any major ground on trade facilitation while it managed to successfully push its stand on food security issues through the WTO meeting in Bali, a top official said.
After the RBI surprised the Centre with a record Rs 99,122 crore in surplus transfer for FY21, analysts said this will help the government tide over the revenue losses from lockdowns and extend more support to the pandemic hit industries and to the poor people. In fiscal 2020, the RBI had paid only Rs 57,128 crore in dividend to the government and the finance minister had budgeted only Rs 45,000 crore from the central bank. The higher payout followed the Bimal Jalan panel report that had set a new economic framework capital buffer for the central bank along with the contingency risk buffer at 5.5 per cent.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
The discount will be by way of cash back which will be credited to the buyer's account in three days from the transaction
Monthly and seasonal suburban railway tickets purchased through digital mode will get 0.5 per cent discount from January 1
Unlike most MF distributors in India, Paytm Money will be offering low-cost direct plans, which don't charge for distribution expenses
The Vedanta group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL).
The ED is contemplating a special audit of the account in the backdrop of rating agencies downgrading various debt papers of IL&FS.
Having a single point KYC that is automatically used across all financial and non-financial entities is a single piece of reform that should be an easy win to achieve, points out Harsh Roongta.
As in the past, it is up to the merchants to decide if they will bear the burden of the charge or bill it to the customers. Subhomoy Bhattacharjee reports.
This deal will make Music Broadcast, which currently operates 39 channels, the largest private FM Channel operator.
Your opportunity to earn higher interest by keeping more than Rs 1,00,000 in your savings bank account might soon be limited.
Regulated electronic platforms such as e-spot markets or spot exchanges may be deemed as authorised markets.
'I was shocked by the kidnapping episode. I could have lost my life.'
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Kerry said this in a newspaper article co-authored by US Commerce Secretary Penny Pritzker.
Fiscal federalism should not be sacrificed at the altar of GST.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India.
GST was 'flawed' and had unleashed a 'tsunami of tax terrorism', he said.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
Joydeep Ghosh takes stock of personal finances after the life-altering surprises of 2016.
The panel decided to omit the reverse charge mechanism (RCM) clause from the GST law under which registered taxpayers buying from unregistered taxpayers have to deposit the GST.
We urge all of our allies and partners to forgo transactions with Russia that would trigger sanctions under CAATSA, the US said.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
Debit card use at POS terminals increasing at rapid clip, transactions at ATMs declining
The tax computation compares the original cost, along with the stock value on January 31, and grants benefit of the higher of the two.
This will bring down capital gains especially in case of property transactions.
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.
Capital markets regulator Sebi on Monday came out with a framework for operationalising the gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts (EGRs). The stock exchange desirous of trading in EGRs may apply to Sebi for approval of trading in the new segment, the regulator said in a circular. The bourses can launch contracts with different denomination for trading or conversion of EGR into gold. Under the new framework, the entire transaction has been divided into three tranches-- creation of EGR; trading of EGR on stock exchange and conversion of EGR into physical gold.
A Bengaluru based mattress firm is inviting candidates to sleep for 9 hours every night for 100 days as part of a sleep internship.
To select the right platform, get the opinions of a few existing users or browse online for feedback. Select a platform that offers a seamless experience. Check that the platform you are going with is a regulated entity, suggests Sanjay Kumar Singh.
As households age, they pile up debt, a peculiarity unique to Indians, a Financial Stability and Development Council report has found. Here are the key takeaways.
Indian industry snubbed Google Play's decision to cut by half its commission for developers when they make $1 million in annual revenue for in-app purchases, saying the US tech giant may continue its "abrasive & monopolistic abuse" as it owns the Android system. Google Play said Tuesday that beginning July 1 it would slash its 30 per cent billing fee to 15 per cent for developers globally when they make the first $1 million of their annual revenue.
Even the well heeled in metros find it difficult to go completely digital. Cash withdrawals from ATMs are back at the same level as they were before demonetisation
Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
Besides the convenience that plastic money accords, it also helps the user to keep an easy track of their expenses.
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
The Reserve Bank on Friday retained the GDP forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth. In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections. "The ebbing of infections, together with improving consumer confidence, has been supporting private consumption," he said, and added the pent-up demand and the festival season should give further fillip to urban demand in the second half of the financial year.
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