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
The Madras high court on Tuesday observed that the continuance of V Senthil Balaji as a minister without portfolio in the MK Stalin-led Tamil Nadu cabinet will serve no purpose and it does not augur well with the principles of good governance and purity in administration.
The Enforcement Directorate on Friday alleged that Hero MotoCorp executive chairperson Pawan Kant Munjal used foreign currency issued in the name of others for his personal expenditure abroad to "override" RBI rules and attached his assets worth Rs 24.95 crore as part of a money laundering investigation. Three immovable properties (in the form of lands) of Munjal located in Delhi have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA), the central agency said in a statement.
The government said that far from targeting any US entity, the purpose was to ensure fairness, healthy competition, and to exercise the ability of governments to tax businesses having a nexus with the Indian market through digital operations.
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.
'For me, if I want to buy a house to stay, I don't care about indexation because I don't want to sell that house.' 'The only thing that matters to me as a buyer is that the home price should be within my reach.' 'Any market, when speculators and investors go out, it will benefit the middle class.'
'The policy focus of the government should have been on creating more good quality jobs but that was not their focus.'
Benoy Babu of Pernod Ricard and Sharath Reddy of Aurobindo Pharma have been arrested under sections of the PMLA.
Both Houses of Parliament were adjourned on Friday due to continuous protests by opposition members seeking discussion and a reply from Union Home Minister Amit Shah on the Parliament security breach.
The income-tax department has detected "unaccounted" transactions and investments worth more than Rs 100 crore after it raided two Jharkhand Congress MLAs, their alleged associates and linked coal and iron ore businesses across the state last week.
The Narcotics Control Bureau (NCB) on Saturday said it has arrested Jaffer Sadiq, a Tamil Nadu-based alleged dealer of narcotics, in connection with an international drugs trafficking investigation case.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The ruling Aam Aadmi Party termed the LG's orders removing Shah and Gupta from the boards of discoms "illegal and unconstitutional". The LG does not have the power to issue such orders, it claimed.
Ruling out any probe into business dealings between Sonia Gandhi's son-in-law Robert Vadra and realty major DLF, Finance Minister P Chidambaram on Monday said the government cannot look into private transactions unless there are specific allegations of corruption.
The high court also said that Kejriwal's absence cannot allow students to go through the first term without free text books, writing material and uniform in schools under the Municipal Corporation of Delhi.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
Hazare also said it seems the new policy will encourage liquor sale and consumption and spur corruption.
Gandhi invoked Rule 357 which allows for "personal explanations" and also cited the example of Bharatiya Janata Party MP and then minister Ravi Shankar Prasad, who invoked the Rule to give an explanation regarding comments made by Jyotiraditya Scindia in relation to him in Parliament
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
The upshot of the government's 'formal' climbdown on FDI in retail is that it will not be able to take up the issue again in the near future, certainly not till after the forthcoming assembly elections in Uttar Pradesh and four other states, says Neerja Chowdhury
The upshot of the government's 'formal' climbdown on FDI in retail is that it will not be able to take up the issue again in the near future, certainly not till after the forthcoming assembly elections in Uttar Pradesh and four other states, says Neerja Chowdhury
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
The issues listed by Gandhi include Centre-state relations, rise in cases of communal tension, border transgressions by China and the demand for a joint parliamentary committee (JPC) to investigate the transactions of the Adani business group in light of several revelations.
Holding placards and banners that read "INDIA for Manipur" and "INDIA demands PM's statement on Manipur", the opposition parties raised slogans against the government in front of Mahatma Gandhi's statue in Parliament complex.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
The National Company Law Appellate Tribunal on Wednesday declined to grant interim relief to Google seeking a stay on competition watchdog CCI's penalty of Rs 936.44 crore on the tech giant for abusing its dominant position with respect to Play Store policies. The appellate tribunal has directed Google to deposit 10 per cent of the fine before its registry in the next four weeks. A two-member bench comprising Justice Rakesh Kumar and Alok Srivastava issued notices to the Competition Commission of India (CCI) and other respondents and posted the matter for hearing on April 17, 2023.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
The Enforcement Directorate (ED) may initiate a money laundering investigation over the framing and execution of the Aam Aadmi Party government's excise policy, official sources said on Friday after the Central Bureau of Investigation raided Delhi Deputy Chief Minister Manish Sisodia and others in the matter.
The CJI said a bench headed by Justice DY Chandrachud will hear the dispute between the Centre and the Delhi government.
The meeting lasted for nearly two hours, sources said.
A plea has been filed in the Supreme Court for initiation of contempt proceedings against the Securities and Exchange Board of India (SEBI), alleging it has violated the timeline for completing the investigation and submitting its report on the allegations of stock price manipulation by the Adani group. An application has been filed by PIL petitioner Vishal Tiwari saying that despite the deadline given to the SEBI it has failed to comply with the direction of the court and has not submitted the final conclusion/report as was directed by the court. It said by the order dated May 17, 2023, the apex court directed SEBI to submit its report till August 14, 2023.
As soon as Lok Sabha assembled, opposition members stormed into the well holding placards and shouting slogans. They demanded a Joint Parliamentary Committee probe into the alleged stock manipulation by the Adani Group.
'I believe that as we produce more, our cost will come down further. We will maintain our competitiveness.'
Against the backdrop of parliamentary proceedings being paralysed regularly, President Pranab Mukherjee on Saturday suggested that parliamentarians should explore possibilities of amending rules to ensure that both houses are able to transact routine business.
The CBI inquiry was recommended on Delhi Chief Secretary's report filed earlier this month, showing prima facie violations of GNCTD Act 1991, Transaction of Business Rules (ToBR)-1993, Delhi Excise Act-2009 and Delhi Excise Rules-2010, they said.
No violation of rules or regulations were found in the transfer of land by businessman Robert Vadra's Skylight Hospitality to realty major DLF, the Haryana government has told the Punjab and Haryana high court in Chandigarh.
The Supreme Court on Tuesday said a five-judge Constitution bench would hear on November 9 the legal issue concerning the scope of legislative and executive powers of the Centre and Delhi government over control of services in the national capital.
Some states are taking a legal view on the state GST rate and the compensation rules ahead of the Goods and Services Tax (GST) Council meeting, which is likely to be held in mid-June, said people in the know. While the agenda is still being finalised, several states are likely to take up the matter related to GST compensation and may pitch for its continuation beyond the June 30 deadline. States would like to know how they would divide the compensation collected after June 2022 for payment of principal and interest of compensation shortfall borrowing and arrears to states, sources said.
The LG is also believed to have cited that the inquiry into the CNG fitness kit scam set up by the Kejriwal government earlier was set aside by the Centre on the same ground.
Vodafone pleaded in High Court that IT department had no jurisdiction in the transfer pricing case because the said transaction was not international and did not attract tax.
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