The Supreme Court on Wednesday allowed banks and financial institutions to provide services related to cryptocurrencies by setting aside the RBI's 2018 circular which had prohibited them. A three-judge bench, headed by Justice R F Nariman, said the Reserve Bank of India circular is liable to be set aside on the ground of "proportionality". "Accordingly, the writ petitions are allowed and the circular dated April 6, 2018 is set aside," said the bench, also comprising justices Aniruddha Bose and V Ramasubramanian.
Dr Balasubramanium, immediate past president of the American Association of Physicians of Indian Origin, was awarded the AMA's Dr Nathan Davis International Award on March 31 for his work in India in helping to institute emergency medical services and trauma centers.
'Seen in the context of world turmoil in face of the pandemic and the Chinese 'miracle' of being the only country in the world to control it, this is not merely a 'Sputnik' moment, but a 'Sputnik Plus' moment,' argues Colonel Anil A Athale (retd).
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
The country has reported the highest number of recoveries with 42,08,431 COVID-19 patients having recovered from the disease so far, pushing the national recovery rate to nearly 80 per cent, while the case fatality rate has further dropped to 1.61 per cent, the ministry said.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
Sujatha Singh stands for the right values and quite simply, she's a "good person" who understands complex economic issues thoroughly, say her friends.
From April 1 next year, over 600 state-run Madrassas will be converted into upper primary, high and higher secondary schools with no change of status, pay, allowances and service conditions of the teaching and non-teaching staff.
The Padma Bhushan was conferred on 17 personalities including N Chandrasekharan, chairman of Tata Sons, Krishna and Suchita Ella of Bharat Biotech, Cyrus Poonawalla, Satya Nadella, chairman of Microsoft, Sunder Pichai, chairman of Google.
There are 1,53,106 active cases of the coronavirus disease (COVID-19), while 1,69,797 people have recovered and a patient has migrated, according to the ministry data updated in the morning.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
'By annoying the Arabs and cozying up to Iran, Pakistan may end up losing Arab economic support, annoying the Americans and increase Shia-Sunni tensions domestically,' Colonel Anil A Athale (retd) points out.
Condolences continued to pour in from world dignitaries for former external affairs minister Sushma Swaraj who breathed her last due to cardiac arrest on Tuesday night.
The government is by far the largest employer; job security is guaranteed for government employees, and their wages are set through once-in-10-year Pay Commission.
Samajwadi Party chief Akhilesh Yadav on Saturday sought to defend his widely criticised statement equating Muhammad Ali Jinnah with Mahatma Gandhi, Sardar Vallabhbhai Patel and Jawaharlal Nehru and saying they helped India get freedom even as an Uttar Pradesh minister suggested a narco test for him for 'glorifying' the founder of Pakistan.
The telecom ministry will set up an intelligence unit and a consumer protection system as part of continuing efforts to tackle the menace of pesky calls as well as to take strict action against financial frauds perpetrated using telecom resources.
While student housing, retirement homes, and co-living spaces are going to be new realty growth drivers, Parekh also said foreign investors have also been investing in a big way in good commercial projects, while warehousing is another segment where they are showing keen interest.
Ajit Balakrishnan on keeping an eye on democratising finance in India.
'The rule for millennials is: You can have a career for life.' 'You have to constantly adapt to the needs of the industry to stay relevant.' 'The jobs will be the same, but the skill sets required will be different.' 'Technology will dominate the nature of jobs available in the future.'
The army has long been deficient in artillery, the modern battlefield's most lethal killer, says Ajai Shukla.
The female tiger, named Nadia, is believed to be the first known case of an animal infected with COVID-19 in the US. It is suspected that she contracted the virus from a caretaker who was asymptomatic at that time.
Even though the Health Ministry and Indian Council of Medical Research (ICMR) have been insisting that there is 'no solid evidence' of community transmission so far, the government has started scaling up health infrastructure to deal with any situation.
The ruling National Conference on Friday demanded a CBI enquiry or a high-level probe into the functioning of a top secret intelligence unit set up by the former Army chief, General V K Singh. The unit is alleged 'to have used secret service funds to destabilise the Omar Abdullah government in Jammu and Kashmir.'
Regional connectivity will bring development to tier-2 and tier-3 cities which are becoming "growth engines", Prime Minister Narendra Modi said while inaugurating the first flight under UDAN.
Shringla, a 1984 batch officer of the Indian Foreign Service, is considered an expert on India's neighbourhood and is currently serving as envoy to the US.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Reserve Bank Governor Shaktikanta Das on Thursday said cryptocurrencies are a "threat to macroeconomic and financial stability" and cautioned investors against punting on them, days after the Union government's move to tax the gains made from cryptocurrency trades. In the Union Budget for 2022-23 presented in Parliament on February 1, the government proposed levying a 30 per cent tax on gains made on cryptocurrency trades by investors and the announcement was welcomed by cryptocurrency industry players, saying it legitimises their trades. Das invoked the 17th century 'tulip mania', widely considered to be the first financial bubble, to caution investors, saying the cryptocurrencies do not even possess the value of the exotic flower.
'Any normal human being, even if he is the American president, will find it hard, at least in the initial stages, to get over the gnawing feeling that Modi is Trump's man.' 'Modi should not be surprised if India and its requirements are treated as of low priority by Joe Biden,' warns B S Raghavan, the distinguished civil servant.
The pipeline for well-qualified and experienced policy economists at senior levels of government has broken, leading to a growing dearth of suitable candidates for top economist positions.
Wishing him, President Droupadi Murmu said the work for nation-building under his incomparable hardwork, dedication and creativity continue to advance.
S&P Global Ratings has forecast India's economy to shrink by 5 per cent in the current fiscal. It, however, has projected GDP growth to be 8.5 per cent in 2021-22 and 6.5 per cent in 2022-23.
The Assam cabinet had on December 13 approved a proposal to close down all Madrassas and Sanskrit Tols (schools) however, the legislation brought in the assembly during the day did not contain anything related to the Sanskrit tols and the education minister also did not mention anything about it.
With elections elsewhere in India showing that multi-pronged contests usually work to the BJP's favour, the party can gain if it hangs on stubbornly. In the meantime, any additional support helps. That is why the archbishop's comment attracted political traction in Kerala, observes Shyam G Menon.
Pakistan would want to take full advantage of the situation to direct Taliban trained terrorists into the Kashmir Valley, alert Lieutenant General Ashok Joshi (retd) and Colonel Anil A Athale (retd).
Murthy, who currently is the top Indian-American advisor to President-elect Joe Biden on COVID-19, is a potential pick for the post of Secretary of Health and Human Services and Stanford University Professor Arun Majumdar for the post of Secretary of Energy, The Washington Post and Politico said in their reports on Tuesday that mentions a list of potential picks for various Cabinet-level positions in the Biden administration.
'The Indian side has realised that not talking to Pakistan has not served any useful purpose.'
'Why has this turned out to be one of the greatest humanitarian crisis that has caught the Centre and the states in a bind with no answers to this unexpected tsunami?' asks Brigadier Narender Kumar (retd).
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
Vice President Dhankar's and Law Minister Rijuju's recent interventions have the danger of destabilising the Constitutional equilibrium, cautions N Sathiya Moorthy.
