Though Bajwa met Saudi Arabia's Deputy Defence Minister Prince Khalid bin Salman and Saudi Arabia's military chief of staff General Fayyad bin Hamid Al-Ruwaili, he failed to meet the crown prince.
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
India saw growth of around 213 per cent in the number of real-time payments processed over the past year.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Qin, who recently succeeded Wang Yi, had a phone call at the request of Bilawal on January 9, a Chinese Foreign Ministry statement in Beijing said on Tuesday.
...or just a Covid-era practice, asks Ajit Balakrishnan.
'Now they're talking about changing the Constitution; they feel they have no reason now to hide their intentions.'
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed while the rest is at different stages of resolution, it said in a brief snapshot on the progress made in the ongoing resolution process till December 7, 2021, and suggested estimates of progress to be made by March 2022.
Balance transfer is a facility in which you can transfer outstanding balance from one credit card to another. It works well if you have multiple cards.
Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency. Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them. "In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. "Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'.
Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Pakistan's current account deficit (CAD) increased to a 4-year high of $17.4 billion in the fiscal year of 2021-22, indicating more troubles for the ailing economy of the cash-strapped country. The State Bank of Pakistan (SBP) on Wednesday reported that the country recorded a CAD of $17.406 billion in FY22 compared to a gap of just $2.82 billion in FY21. According to Dawn newspaper, the massive CAD speaks a lot about the severe problem of the balance of payments.
Missing the deadline for filing Income Tax returns can lead to consequences.
'He told senior journalists a few days after the Babri Masjid demolition, 'Jo hua theek hua. Maine isliye hone diya ki BJP ki rajniti hamesha ke liye khatam ho jaye.'
The government will have to make substantial payments, as well as forego revenues in FY'23, if it wants to work on the survival of Vodafone Idea because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crore for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the instalment payout for a third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
'There will be partnerships between banks and fintech firms, but there will also be areas where they will be direct competitors.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
Nehal, 41, is charged in a New York Supreme Court indictment with Grand Larceny in the First Degree, Manhattan District Attorney Cy Vance, Jr. said.
'We revolutionised the system in a manner so that the chances of leakage will be much lower than it was in the beginning.'
Don't opt for the moratorium unless critical, advises Charlie Lee, founder and CEO, True Balance.
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.
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
Pranjal Kamra, CEO, Finology Ventures, lists seven efficient ways to cope with the rise in EMIs even as you balance your monthly budgets.
The Indian rupee is expected to trade between 80 and 84 against dollar in the first three months of 2023 with support from overseas inflows though worsening current account deficit (CAD) and reduced interest rate differential between the US and India pose challenges. According to a Business Standard Poll of 10 participants, most said the rupee could gain strength in January due to foreign inflows, and the Reserve Bank of India (RBI) is not expected to allow the currency to depreciate ahead of the Union Budget scheduled on February 1. The rupee depreciated 10.15 per cent in 2022, its worst performance since 2013 as the war in Europe and the interest rate increase by the US Federal Reserve prompted investors to flee emerging markets.
In an indication of easing financial stress among borrowers, the number of unsuccessful auto-debit requests through the National Automated Clearing House (NACH) platform declined in July, reversing a three-month trend that started with the second wave of the Covid-19 pandemic. According to the NACH data, of the 86.4-million transactions initiated in July, 33.23 per cent, or 28.7 million transactions, failed, while 57.7 million were successful. Compared to June, this is a significant improvement in bounce rates.
'...The more the Pakistan army becomes weaker, then there is every possibility that terrorist groups may create more anarchy in Pakistan.'
Reserve Bank Governor Shaktikanta Das on Friday said 67 per cent of the decline in the foreign exchange reserves since April was due to valuation changes arising from strengthening US dollar and higher American bond yields. The forex reserves, which stood at $606.475 billion as on April 2, have declined to $537.5 billion as on September 23. It was also the eighth straight week when the reserves declined.
The Union Cabinet has approved the modalities for holding 5G spectrum auctions, and 72097.85 MHz of radio waves will be put on the block by July-end, an official release said on Wednesday.
The government was also faced with problems on its balance of payments. It took steps to conserve declining foreign exchange reserves, and began to regulate the production, supply and distribution of gold. It banned forward trading in the yellow metal in November 1962, and introduced gold bonds as well, reveals the RBI's annual report for the year ending June 1963.
'We should look at is full year's growth rather than quarter numbers.'
The Reserve Bank of India's (RBI's) outstanding net forward purchases of US dollars fell by more than 50 per cent from the last quarter of FY22 to $30.86 billion in the June quarter (Q1). The net forwards position was at $65.79 billion at the end of the last fiscal year. The purchases fell by $18.33 billion in June as the central bank intervened in both the forwards and the spot market in order to protect the rupee from excessive depreciation in the face of a widening trade deficit.
Indian equity markets should be able to withstand inflation up to 8 per cent, said analysts at Credit Suisse Wealth Management in a recent note. Should the rate of inflation move higher than this, the valuation of Indian equities could deteriorate further, they cautioned. The fall from the peak levels has seen Nifty's 12-month forward price-to-earnings (P/E) ratio of 17.6 dip toward its 10-year and 5-year (pre-COVID) average of 16.9, which suggests that valuation froth of Indian equities has settled, said the Credit Suisse analysts.
Markets watchdog Sebi on Tuesday decided to increase the reward amount for informants to a maximum of Rs 10 crore under the prohibition of insider trading regulations. The regulator's board, which met on Tuesday, approved amendments to the Sebi (Prohibition of Insider Trading) Regulations, 2015. The changes are aimed at streamlining the process of reward payment and to enhance the quantum of reward under the informant mechanism.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
