'What happened to Andhra Pradesh? It is the perfect example of the transientness of Federal Units.' 'Federalism is a transient thing in this country.'
While analysts assessed One97 Communications (Paytm) Q1FY24 results as in-line with guidance, the market was disappointed and the stock fell by around 5 per cent. Paytm reported a net loss of Rs 360 crore, but revenue grew 39 per cent year-on-year (YoY) to Rs 2,340 crore. It was supported by strong growth in gross merchandising value (GMV), higher disbursements and the addition of subscription devices.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
Prime Minister Narendra Modi on Friday expressed hope that G20 will draw inspiration from the vibrancy of the Indian economy and work towards bringing back stability, confidence and growth on the global landscape.
With vehicular activity picking pace in May, toll collection also saw a huge uptick. Fastags posted an impressive jump of more above 400 per cent in transaction count at 55.17 million, and an over-300 per cent jump in value at Rs 1,142 crore.
In its second ruling against Google in less than a week, the Competition Commission on Tuesday slapped a penalty of Rs 936.44 crore on the internet major for abusing its dominant position with respect to its Play Store policies.
India will grow at around 7.4 per cent in 2022-23 and continue at the same pace in the next year as well, Union Finance Minister Nirmala Sitharaman said on Friday. Sitharaman said there are risks on the external front and this is not the right time to throw caution to the wind, and also assured exporters of all the necessary support from the government as they face the headwinds. Speaking at the FE Best Bank Awards event here, Sitharaman said global agencies like IMF and the World Bank have taken cognisance of the strengths of the Indian economy by saying that it will be among the fastest growing ones in the next two years.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
A 40-year-old freelance journalist has claimed a person 'hypnotised' him over the phone and duped him of Rs 40,000, but police and experts said this is one of the 'most normal kinds of cyber fraud' and not a case of hypnosis.
The finance ministry (FinMin) has asked Infosys to work on ways to extract and access taxpayers' real-time data faster and accurately as it is crucial for taking decisions on policy changes. While reviewing progress of the income tax portal 2.0, which had faced glitches, the officials also told the Infosys team to increase the scope of pre-filled data in the ITR forms. Senior officials in the ministry held a review meeting last month with the Infosys team and officials of the Central Processing Centre (CPC).
The Competition Commission of India (CCI) on Monday ordered a detailed probe against internet giant Google for alleged unfair business practices with respect to Google Pay as well as Google Play's payment system. Google Pay is a popular digital payments platform while Google Play is the app store on its Android ecosystem.
Its statement also said Facebook does not use WhatsApp payments information for commercial purposes.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
'Demand is wonderful. We have crossed 10 million on many days.' 'The Swedish trade commissioner recently said, "You guys are vaccinating the entire Sweden in one day".'
When there is a state government committed to development, it is important that Mumbai has a civic body that, too, shares that goal, Modi said.
While mobile wallets are still busy exploring the multiple facets of interoperability, experts believe that bringing in new customers would be costly affair and the numbers of new wallet users might not see a major hike anytime soon.
Sharks, mating frogs, seals playing with photographers... these are the amazing photos which offer an enchanting breadth of what's beyond the shoreline. Underwater Photographer of the Year has just announced the winners of its 2019 photo contest and photographer Richard Barnden, from the UK, was named Underwater Photographer of the Year 2019. Prizes and commendations were handed out in categories including Wide Angle, Macro, Wrecks, Behaviour, Portrait, Black and White, Compact, Up and Coming, and in British waters, Wide Angle, Living Together, Compact, and Macro Shots.
'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
CCI decided to pursue investigation on two issues - these relate to "exclusivity regarding the mode of payment for the purchase of apps and in-app purchases" and "pre-installation and prominence of Google Pay on Android smartphones".
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
The protocol aims to "democratise" lending, reduce costs of credit, and ensure accessibility of credit to small companies and street vendors, according to Nandan Nilekani.
India's Internet economy has two choices: An immediate $30 billion Sale-and-Leaseback or a $3 trillion value harvesting over decades, observes Vibhu Arya.
Stunning photos have revealed incredible secrets of the underwater world, with the winners of the 2018 Underwater Photographer of the Year award announced. German photographer Tobias Friedrich has been named Underwater Photographer of the Year 2018. More than 5,000 images were submitted this year by photographers from around the world. UPY was once again kind enough to share some of this year's honourees with us below, with captions written by the photographers.
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
It will bear fruit in the next five years, which is why FDI is so strong. The foreigners clearly know what Indians don't, asserts T C A Srinivasa-Raghavan.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
Users well-versed in privacy laws or those concerned with their data would be worried; it could well be that many of us have already accepted the end user agreement without ado, points out Ashish Narsale.
From offering office premises that can be converted into isolation wards to earmarking funds to be used for procuring kits, ventilators as well as personal protective equipment for health care workers, India Inc has put a united front to combat the unprecedented crisis facing the country.
'This fund will enable micro-donations as a result of which a large number of people will be able to contribute with smallest of denominations,' a statement said. People can visit www.pmindia.gov.in to make contributions using credit and debit cards, UPI, net banking and RTGS or NEFT, it said.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Several of WhatsApp's early features were designed keeping Indian conditions in mind, given the choppy connectivity and existence of devices of different makes. In fact, India was the first country where WhatsApp rolled out in-app video calling services in 2016, ahead of its global launch, underlining the importance of the market for the company.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
'Like doctors, health workers, police, bankers are also COVID warriors,' notes Tamal Bandyopadhyay.
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