The crackdown also targeted 10,603 websites, leading them to be closed down or suspended through having their domain name or payment facilities removed.
As many as 81 per cent people support having rules for consumer e-commerce, but want more services-based platforms to have more clearly defined roles, a survey by community social media platform LocalCircles has found. The survey asked respondents to answer questions based on the recent draft Rules proposed by the ministry of consumer affairs. The responses found 81 per cent consumers wanting sales of products and services over electronic or digital networks to be governed by a set of electronic commerce rules.
Jaitley said the Rs 500 and Rs 1,000 notes returned to currency chests of the RBI amounted to Rs 12.44 lakh crore
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
A case has been registered at the Kotwali police station on a complaint filed by the Trust's secretary and Vishwa Hindu Parishad leader Champat Rai, a senior police official said.
Jaitley said note ban has compelled people to deposit money into bank accounts.
Sources said the government was keen to tax all unaccounted money deposited in bank accounts after it allowed the banned currency to be deposited in bank accounts during a 50-day window from November 10 to December 30.
'It won't be easy to undo the damage that has been done to the economy by the lockdown and the solution will not come from two minute presentations,' observes Aakar Patel.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
In an editorial, editor-in-chief Dr Graham Jackson, a UK-based Consultant Cardiologist, has called for greater public awareness of the dangers as well as consequences of the counterfeit drugs market.
Always avoid companies that promise assured returns that are too good to be true.
The World Health Organization (WHO) estimates that more than 30 percent of medicines sold in Africa, Asia, and Latin America are spurious.
Munich-based Giesecke and Devrient supplies security features to the RBI for currency notes, and machines to bank branches across the country to detect counterfeits.
Manish Market and Lamington Road in Mumbai, and Chenoy Trade Center and Hong Kong Bazar in Hyderabad are the other four "notorious markets" identified by the US Trade Representatives in its report released on Wednesday.
Under the slogan "Fakes cost more", the European Union is to throw its weight behind a global campaign against counterfeiting. A rare Ferrari and kung-fu-kicking monks will help launch the drive in Brussels on Monday. Jose Manuel Barroso, the European Commission president, is to open a counterfeiting summit attended by businesses, charities and campaign groups
India's burgeoning entertainment industry loses as much as $ 4 billion and 800,000 direct jobs each year due to counterfeiting and piracy, a latest study says. The study -- The effects of counterfeiting & piracy on India's entertainment industry -- was prepared by Ernst & Young India. It was commissioned as part of the USIBC-FICCI Bollywood-Hollywood Initiative, which promotes the sustainable growth & convergence underway between the entertainment industries of the US & India
Counterfeiting and piracy cost India' s entertainment industry a whopping Rs 16,000 crore (Rs 160 billion) besides gobbling up more than 8 lakh direct jobs every year.
Beauty, Nykaa's founder Falguni Nayar realised, is a very long-tailed business and with e-commerce picking up in India, it seemed like a good idea to venture into.
'This is not Ahmedabad Gymkhana but people's house'
Only cash deposits of over Rs 250,000 in bank accounts will be scrutinised by the tax department and in case of mismatch with I-T returns, tax plus 200 per cent penalty would be levied
Pharmaceutical industry experts said the US move had come as a boon for the Indian drug exporters as the law could clear the alleged doubts on the quality and the genuineness of Indian pharmaceutical and raw material products.
Standing committee on finance to also focus on RBI autonomy and citizen's rights.
The central bank said it had issued instructions to banks to ensure that under no circumstances forged banknotes got dispensed through ATMs or across exchange counters.
Prime Minister Narendra Modi's announcement about demonetising Rs 1,000 and Rs 500 currency notes was hailed as a "bold step" by President Pranab Mukherjee and the BJP, which called it a "surgical strike" on black money, but his rivals denounced it as a "heartless and ill-conceived" decision that would inconvenience people.
Many industry executives have said the draft e-commerce policy is being perceived as nationalistic but not overly protectionist and it is providing preference to Indian players against foreign companies. This might have an impact on investment by large players such as Walmart and Amazon in the country, said the executives. They said e-commerce was a very small portion of the retail industry and at a nascent stage and did not require heavy hammer regulations. Though the policy talks about being equally applicable to foreign and domestic players, it mentions that foreign direct investment (FDI) takes precedence over the e-commerce policy in any area of overlap.
To stop repeat money exchangers thronging banks with invalid currency notes, banks have started applying indelible ink mark on the right hand index finger of customers in the select metro cities.
The Competition Commission of India (CCI) on Monday slapped a penalty of Rs 2,545 crore on 14 top carmakers of the country for violating trade norms in the spare-part andafter-sale service market.
The Congress, which described the note ban decision as the "biggest scam" and "the largest government-abetted money laundering scheme", has asked all its state units to organise protests, processions and marches to mark the day.
There are 230 million vehicles on the road, and counting. Bulk of these are under seven years old and once they get older, the industry estimates the requirement for spare parts and aftersales service to shoot up sharply.
Dr Reddy's Laboratories has been awarded the 'WorldStar 2004 Award' by the World Packaging Organisation for its anti-counterfeit and patient protection packaging.
'With just 2.4 per cent of global landmass, India houses six to eight per cent of planetary biodiversity and hence is a prime target of wildlife criminals.'
The consumer goods market in the country has borne losses more than Rs 11,500 crore (Rs 115 billion) till November 2005 due to fake products, an Assocham study said.
Sources said the government wants all of the 500 and 1000 banknotes to be deposited and not burnt or destroyed for the fear of penal action.
A minimum of 50 per cent tax may be levied on unexplained bank deposits made using the banned currency notes up to December 30 along with a 4-year lock in period for half of the remaining amount under the amendments to tax law the government plans to bring in Parliament shortly.
The longer it takes for RBI and the government to stabilise monetary conditions in the economy, the more severe and long lasting will be the damage caused to various sectors of the economy, especially to the informal sector, says Rajeswari Sengupta. Rajeswari Sengupta discusses the impact of this move on money supply, output and prices, in the short- and medium-term.
The United States plans to introduce ''significant changes'' in the appearance of the dollar, including a colour other than green, as part of an intensified campaign to stop counterfeiting, Under Secretary of Treasury Peter Fisher has said.
Expressing concern over the growing menace of counterfeiting, various sectors of the industry demanded high priority to issues of Intellectual Property Rights and speedy trials and better conviction rate for the related offences.\n\n\n\n
A Congress-led opposition on Tuesday came together seeking to pin down the government on the demonetisation issue in the winter session of Parliament beginning tomorrow but a consenses eluded on Trinamoll Congress's proposed march to Rashtrapati Bhawan for meeting the President.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances