The government is considering a provision to provide an exit window to holders of cryptocurrencies (cryptos), keeping in mind that banning them outright could deal a blow to investors sitting on them for years. According to sources in the government, the framework in the making may propose a grace period of three to six months for investors before prohibiting the possession, trading, mining, and issuing of cryptos. A group of secretaries chaired by the Cabinet secretary is learnt to have met in mid-March and discussed issues associated with cryptos, including the consequences of banning them and also on possible substitutes of blockchain technology - an advanced technology Bitcoin uses.
India and China on Tuesday agreed to hold the next round of the Senior Commanders meeting at an early date to achieve complete disengagement from all friction points in eastern Ladakh to create conditions for the restoration of normalcy in bilateral ties.
Ahead of Prime Minister Manmohan Singh's September 6-7 visit to Dhaka, Bangladesh on Sunday said it preferred a framework agreement on transit between the two sides instead of a revised Indian proposal for inking a protocol on using this country's two seaports.
The UK government said on Tuesday that it has kicked off preparations for a free trade agreement (FTA) with India, launching a 14-week consultation to seek the views of the public and business before formal negotiations begin later this year. UK Trade Secretary Liz Truss said Britain wants a trade deal with India that pushes new frontiers and welcomes wide input from consumers and businesses across all sectors, which will help craft a deal that includes closer cooperation in "future-focused industries" such as science, technology and services, creating high-value jobs across the country. "We're firing the starting gun on a free trade deal with India - the world's largest democracy, fifth-biggest economy, a nation of 1.4 billion people and a huge market for British goods like whisky, cars and services," said Truss.
The government on Friday tweaked IT rules to pave the way for setting up of grievance appellate panels, which will settle issues that users may have against the way social media platforms initially addressed their complaints regarding content and other matters.
The stand by China spelt out by its foreign ministry insisting that it takes the 1959 line on perception of the LAC amid a nearly five-month-long border standoff in eastern Ladakh triggered a strong reaction from India.
The existing double taxation avoidance agreements will not be covered by the proposed change, implying that in order to tax Facebook, Google and the like, India will require to renegotiate tax treaties.
Indian Oil Corporation (IOC), the nation's largest oil firm, has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia's Rosneft, the Russian oil producer said. IOC had in February 2020 signed a deal with Rosneft Oil Company to import up to 2 million tonnes of oil via the port of Novorossiysk. In 2021, the deal envisaged supply of up to 1.7 million tonnes of crude oil but IOC bought just on parcel or shipload as the cost of transporting the oil made it uneconomical, when compared to alternatives. For 2022, the deal is for the supply of up to 2 million tonnes of oil from the Black Sea port of Novorossiysk.
India and China have agreed to soon hold the 10th round of Corps Commander-level talks to take forward the de-escalation process in eastern Ladakh, the Ministry of External Affairs (MEA) said on Thursday.
India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.
The meeting came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.
India has not only exceeded the Paris commitments but has now also set an ambitious agenda for the next 50 years, Prime Minister Narendra Modi said on Tuesday after he took part in two days of intense discussions with world leaders at the climate summit on the future of the planet.
The Wednesday talks took place amid a war of words between the two sides on perception of the LAC, the de-facto Sino-India border spanning a length of nearly 3,500 km.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or frauds by bank employees. As per the revised guidelines, which shall come into effect from January 1, 2022, banks will be required to incorporate a clause in the locker agreement prohibiting the hirer from keeping anything illegal or hazardous in lockers. The RBI said it has reviewed the 'Deposit Locker/Safe Custody Article Facility provided by the banks' after taking into consideration various developments in the area of banking and technology, nature of consumer grievances and also the feedback received from banks and Indian Banks' Association (IBA).
Prime Minister Narendra Modi and his visiting Danish counterpart Mette Frederiksen on Saturday held 'fruitful' talks with a focus on expanding cooperation in a range of key areas such as health, agriculture, water management, climate change and renewable energy.
India and China achieved a major milestone this year when their bilateral trade crossed the landmark figure of $100 billion but it did not generate any fanfare in both capitals as the two Asian giants are going through a "particularly bad patch" in their relations due to a set of actions by Beijing in violation of agreements that led to the military standoff in eastern Ladakh. Starting with a modest $1.83 billion in 2001, the bilateral trade crossed $100 billion-mark in the first 11 months this year, a significant milestone for which the two countries carried out campaigns to boost trade and build it as a major stakeholder to improve the relations between two nations, whose ties otherwise remained frosty over the festering boundary dispute and strategic rivalry. According to last month's data from China's General Administration of Customs (GAC), the India-China bilateral trade totalled $114.263 billion, up 46.4 per cent year-on-year from January to November 2021.
In the past three years, agreements on defence cooperation have been entered into by India with several countries, including China, Russia, the UK and France, Mukherjee said.
Listed entities would have to co-operate with intermediaries registered with Sebi such as debenture trustees and credit rating agencies
Finance Minister Arun Jaitley on Saturday said that retail inflation is expected to remain close to 5 per cent
Leveraging Indo-Asean trade talks means a stronger Look East policy.
Naga rebel leader Thuingaleng Muivah, who signed the pact with the Indian government, says the framework agreement will lead to a new relationship
Shareholders of the six listed Future Group companies voted on Wednesday. Bankers said all the large lenders had rejected the proposal.
The development is expected to pave way for greater transfer pricing cooperation between the two countries, enhance investment flow
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
After a gap of over two-and-half months, India and China on Sunday held the ninth round of military talks specifically focusing on ways to move forward on the long-negotiated disengagement process in eastern Ladakh as thousands of their troops remained deployed at friction points under freezing conditions.
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
During his three-day UK visit until Tuesday, Modi is listed to address the COP26 summit with a national statement about India's climate action plan in the afternoon session on Monday, ahead of Australian Prime Minister Scott Morrison and Pakistan Prime Minister Imran Khan.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
The capture of the Chinese soldier comes in the midst of an eight-month-long bitter border standoff between the two armies in eastern Ladakh.
It is learnt that the Indian delegation insisted on a time-bound implementation of the agreement finalised during the extensive talks between External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi in Moscow on September 10 on the sidelines of a Shanghai Cooperation Organisation(SCO) meet.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
The people will view it from their viewpoint, their immediate interest, historical experiences, their insecurities, he said.
At a virtual press conference to launch the report, Inger Anderson, Executive Director, United Nations Environment Programme, said, "Climate change is here and now. No one is safe. Despite warnings from so many years, the world did not listen. We need to act now. Reducing greenhouse gas emissions will not only limit climate change but also reduce air pollution."
The government is looking at tweaking provisions of the Indian Contracts Act of 1872 to bring agreements between farmers and companies under its ambit, aiming to prevent exploitation of farm people.
In a move which could pave the way for a Free Trade Agreement between India and the Gulf Cooperation Council, both the partners have concluded negotiations for a Framework Agreement expected to be inked soon.
At a virtual media briefing, Ministry of External Affairs (MEA) Spokesperson Anurag Srivastava said disengagement of troops is a complex process which would require mutually agreed 'reciprocal actions'.
