The government has imposed anti-money laundering provisions on cryptocurrencies or virtual assets as it looks to tighten oversight of digital assets. In a gazette notification, the Finance Ministry said the anti-money laundering legislation has been applied to crypto trading, safekeeping and related financial services. After this, Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India (FIU-IND).
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Fintech companies believe that the impact of Reserve Bank of India's order last week on unsecured loans will be visible in six to 12 months and prompt them to diversify and strengthen their secured portfolio. Fintechs which source funds through banks or non-banking finance companies (NBFCs) are looking at quickly building their secured portfolio options to at least 40 per cent of their total portfolio. "Over the medium to long term, as part of our product strategy, we are evaluating secured products which can be enabled over a digital platform" said Yogi Sadana, the founder of Zype, a lending-focussed fintech.
The government needs to make the right policies and further execute them properly if it wants to move towards this goal
Picture this: A cozy, candlelit evening where it is just your sweetheart and you, with no annoying notifications crashing the party or stealing your attention.
Branch additions for most major banks in the current financial year do not correspond to the number of the past two years.
Bots don't suffer from the same nervousness that real matches do. This makes every conversation with a bot almost flawless and smooth, alerts rediffGURU Ravi Mittal.
Why should Reliance Digital position itself as an alternative to Chadhaji's store? It simply doesn't make good business sense, says Sudhir Bisht.
'With free software on the Internet and apps, creating a deepfake video can take 3 to 5 minutes. Anyone can make these videos.'
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
The government will develop a mechanism to ensure that e-commerce companies and entities that have adopted Open Network for Digital Commerce (ONDC) architecture are compliant with the rules. Non-compliance may result in a penalty. "We will have our own evaluation system, and if we find any player is not sticking to it, then we will take action. "Participants will have to be compliant with the rule of the land," Sanjiv, joint secretary at the Department for Promotion of Industry and Internal Trade (DPIIT), told reporters on Thursday.
Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
New models of skilling will provide both jobs and entrepreneurship opportunities to inspire recipients to capture the jobs or entrepreneurial opportunities they seek and provide them the agency to stay on and improve on their skills on the job, says Ganesh Natarajan.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
The move comes barely a week after fellow crypto unicorn CoinDCX laid off 12 per cent of its workforce - an estimated 80 employees - amid challenging macroeconomic conditions and regulatory uncertainty in the sector. CoinSwitch has 519 employees, according to its LinkedIn profile. This means around 8 per cent of its workforce were shown the door.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
Responding to a question, he said, "It may also deal with fake news, though there is no specific mention in this regard."
rediffGURU Ulhas Joshi recommends five factors you need to look at to evaluate the performance of two schemes.
The government on Thursday tabled the Digital Personal Data Protection Bill 2023 in the Lok Sabha with an aim to protect the privacy of Indian citizens, while proposing a penalty of up to Rs 250 crore on entities for misusing or failing to protect digital data of individuals.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
Amid the ongoing festival season and ahead of the elections for five state assemblies, the Centre is closely monitoring inflation, particularly in food items, to enable it to take steps to increase their supplies. "There is a complete no-nonsense attitude when it comes to food inflation, and instructions have been issued at all levels to be very sensitive to any possible price movements in any commodity," a senior official explained. Sources have said that all departments dealing with food items have been instructed to keep a close eye on all commodities and maintain a weekly record of their price movements.
'There is no reason why we should break this business up.'
'This is a first-of-its-kind partnership in the Indian media & entertainment landscape, and this association with Disney Star reflects our sharp, strategic vision for the sports business India.'
The 2023 edition of the Indian Premier League (IPL) will see Disney-Star and Viacom18 competing to sell their ad space with an eye on the estimated Rs 4,000-crore advertising money.
The MHRD plans to track various performance parameters of government school teachers and students through tablets and smartphones, reports Sahil Makkar.
Slapped with a second hefty fine for anti-competitive practices, Google India on Wednesday said it remains committed to users and developers and is reviewing the antitrust body's order to evaluate next steps. The Competition Commission of India (CCI) on Tuesday slapped a Rs 936 crore fine on Google for "abusing" its dominant position on its Android mobile app store and ordered it not to prevent app developers from using third-party billing or payment processing services in India. That penalty came just days after a Rs 1,337.76 crore fine was imposed on it for abusing the dominant position of its Android smartphone operating system. Commenting on Tuesday's CCI order, a Google India spokesperson said Indian app developers have benefited from the technology, security, consumer protection, choice and flexibility that Android and Google Play provide.
The NMC said it found that none of them visit the emergency department regularly "because there is no one in the emergency medicine department to interact with them other than the casualty medical officer".
It's time the government accepts that Digital India is too distant.
Ask rediffGURU Ulhas Joshi your mutual fund queries.
Google unveiled on Wednesday a slate of artificial intelligence (AI) tools and technologies for Indian developers at its first I/O Connect event for India, being held in Bengaluru. The company made accessible for Indian developers its faster, more accurate large language AI model accessible through PaLM API, Makersuite, as well as features on Google Cloud's Vertex AI. Google Cloud officially launched a new initiative in collaboration with Open Network for Digital Commerce (ONDC), under the Department for Promotion of Industry and Internal Trade, to help sellers build and scale commerce platforms across the country.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
Prime Minister Narendra Modi on Monday expressed confidence that the NDA will get more than 400 seats and the BJP will win at least 370 seats in the Lok Sabha elections.
Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
For that to happen, Moitra's much followed speeches should be heard outside Parliament so that the PR spins of the ruling dispensation are countered with informed debate, argues Shyam G Menon.
While both institutions provide financial assistance, there are significant differences between them in terms of offerings, eligibility criteria, interest rates, and other crucial factors.
Cabinet Secretary Rajiv Gauba will head a top panel, including a senior official from the Prime Minister's Office and seven secretaries, to monitor the implementation of the Centre's ambitious Mission Karmayogi programme for training of government employees, officials said on Monday.
'India has formed tremendous resilience and still a strong growth.'
rediffGURU Ashwini Dasgupta offers tips on how to navigate job interviews.
