It is just a question of providing an additional facility to the taxpayer that if he is not quoting PAN and only has Aadhaar, his filing and processes do not get affected, said CBDT chief.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
Snapdeal chief executive officer Kunal Bahl said Piramal's investment was a significant endorsement for the firm and the transformation the company has undergone over the last couple of years.
Markets regulator Sebi on Thursday came out with detailed modalities for implementation of the accredited investors framework, a move expected to open up a new channel of raising funds from sophisticated investors. The regulator has issued guidelines on eligibility criteria for accredited investors (AIs), procedure as well as validation for accreditation, procedure to avail benefits linked to accreditation and flexibility to investors to withdraw "consent", according to a circular. Sebi had earlier this month introduced the concept of "accredited investors" in the Indian securities market.
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.
Not only is your privacy stripped stark naked, says Mitali Saran, the system itself is illegal and vulnerable.
Nilekani said that in India which has the total population of over one billion, only 50 million people had passports which was mere five per cent of total population, around 30 million people paid taxes and over 150 million people had driver licence.
For people who have had their personal identification stolen, it could also help prevent cyber criminals from using that information to make purchases in their name.
The attorney general told the apex court that the invasion of privacy was very minimal in Aadhaar and it may not even be considered as an invasion.
New offerings by banks are changing the way you transact.
Jifi is a zero-interest current account with no minimum balance conditions, and can be opened with an initial payment of Rs 5,000.
Investors need to evaluate the offerings of a broker in totality before selecting one.
Some believe the shift to mobile-based transactions will be seamless considering that the urban tele-density is 148%. In rural areas, it is touching 51%. But smartphone penetration in India is a mere 12%. Growth of mobile money has been extremely slow: It is currently 1%.
'The attention economy is making it economically valuable for us to spread our attention thin', observes ad guru Sandeep Goyal.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
Fifty-nine per cent of reserved tickets on Indian Railways are now booked online.
Paytm has been preparing for the sale for the past three months.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
Private sector lender ICICI Bank on Monday launched a facility which allows account-holders to transfer funds through Twitter.
Since the deadline for Justice B N Srikrishna Committee's feedback is December 31, the government is unlikely to table a data protection Bill in the winter session of Parliament.
India will soon make available many more COVID-19 vaccines to other countries after two Made-In-India jabs have already been introduced to the world, Prime Minister Narendra Modi said on Thursday while emphasising the country's global responsibility in fighting the pandemic.
E-invoicing would be implemented on a voluntary basis by those having an annual turnover of above Rs 500 crore from January 1.
Retirement fund body EPFO will provide permanent or universal account numbers on the pattern of core banking services to its over 5 crore active subscribers.
Currently, Housing.com makes Rs 1.2-1.5 crore a month, against a burn of Rs 10.05 crore.
Describing DBT for LPG as a 'tremendous success,' Oil Minister M Veerappa Moily said the programme, when implemented throughout the country, would help save Rs 8,000-9,000 crore (Rs 80-90 billion) of subsidy from going to unintended beneficiaries.
Things are expected to change dramatically in a few years for urban consumers.
Aadhaar now has legal backing but it still faces challenges of privacy and data sharing
Nilekani said new-age technology markets work on a winner-takes-all basis.
The Aadhaar issuing authority, Unique Identification Authority Of India, has no data on those who have been denied benefits for want of the 12-digit biometric identification number, the Supreme Court was informed on Thursday.
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
Though chief executive officers from Google, Yahoo and Facebook have declined to attend the summit, the Apple CEO Tim Cook will address the meeting during which he will announce his intent to fold the government's cyber security recommendations into its own cyber strategy.
'The government's principal aim should be to reduce the volume of cash transactions.' 'That would bring more of the Indian economy within the purview of taxation.' 'The current downturn in economic activity due to a lack of adequate cash is likely to be limited to a year,'
The government has opted for the RuPay debit card over the Aadhaar-based platform for "last-mile" authentication in its Pradhan Mantri Jan Dhan Yojana.
Chillr recently raised $5 million from Seqouia Capital.
The EPFO launched one-page simplified forms for withdrawal.
'We have to go through the process of obtaining informed consent.'
The President said that because of the policies of the government foreign investment has increased from $36 billion to $60 billion during the period.
'You should be able to juggle them, extract the most rewards out of them, and most importantly, be able to repay your dues on time.' 'However, you shouldn't try to get multiple cards at once,' advises Adhil Shetty, CEO, BankBazaar.com.
'Demand in India has been outstripping supply.'
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