Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
Hockey India's long-serving CEO, Elena Norman resigned from her post on Tuesday, February 27. Norman steps down after holding the position for nearly 13 years.
The Enforcement Directorate has filed its first charge sheet in connection with its money laundering probe against Chinese smartphone maker Vivo-India and some others, official sources said on Thursday. The prosecution complaint was filed before the court of Special Judge Kiran Gupta in New Delhi on Wednesday under the criminal sections of the Prevention of Money Laundering Act and Vivo-India has been named an accused apart from those arrested in this case, the sources told PTI. The judge posted the matter for consideration on December 13.
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.
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
The NCB, which got the remand of Aryan Khan and the other eight accused from the court till Thursday, also claimed that in the WhatsApp chats he is discussing modes of payment to be done for procurement (of drugs) and that several code names are being used.
PhonePe wants to dethrone its Alibaba and SoftBank-backed rival, Paytm, claiming that additional capital that Walmart will bring to the table will help it grow much faster
'Will Imran compromise with the army? We are all human beings. We all compromise.'
The airline informed the ministry that it would operate 75 planes by April-end.
'Exposure to small and midcap stocks exceeded desired levels in many portfolios, prompting rebalancing.'
The Union finance ministry on Thursday issued a clarification on the changes in FEMA rules which brings overseas international credit card spending under the RBI's liberalised remittance scheme (LRS). Here's how it affects you.
An internal investigation of suspended FIFA President Joseph "Sepp" Blatter has found no evidence of corruption over a 2 million Swiss franc (1.3 million) payment to European football head Michel Platini, the Swiss newspaper Handelszeitung said on Wednesday.
Watal panel had suggested an independent payments regulator be set up.
Negotiations on with three brokers holding 5% of about Rs 5,500-crore (Rs 55 billion) overall dues
'If there is an artiste somewhere in India or in the world who wants to express her art, I hoped that this award would inspire them, and add meaning to their journey.'
Crisis-hit SpiceJet plans to hand out pink slips to at least 1,000 employees in the coming days as the airline works to significantly reduce costs and streamline operations of its depleted aircraft fleet, officials said on Monday. Faced with financial woes, legal battles and other headwinds, the no-frills carrier might ask more staff to leave as there is excess manpower now compared to the number of planes in service. A final decision on the quantum of layoffs is expected this week, one of the officials in the know said.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The finance ministry on Friday amended the foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme (LRS). The amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, will be effective retrospectively from May 16, the ministry said in a notification. "...the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India" will not be covered under LRS, the notification said while inserting Rule 7 in the FEM (CAT) Rules.
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
All three agreed to have the proceedings heard in English and each of them nodded that they understood the charges of first-degree murder and conspiring to murder Nijjar, the report said.
Around 160 domestic and international cricketers who have retired before 2003-04 will be awarded cash bonanza as part of the BCCI's one-time benefit scheme from the IPL surplus money, a gesture which would cost the Board Rs 70 crores.
The International Olympic Committee said on Thursday it saw no reason to doubt assurances from Tokyo about the legitimacy of payments made during its successful bid to host the 2020 Games.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
To provide more choices to customers, the Reserve Bank of India has suggested mandating bank and non-bank card issuers to issue debt, credit and prepaid cards on more than one network. Customers can choose any one either at the time of issue of the card or anytime later, according to draft norms released by the Reserve Bank of India on Wednesday. The RBI said card issuers would also be barred from signing agreements that limit their ability to tie-up with other card-networks, according to the draft.
In August, RBI allowed 11 business houses to start a payments bank.
ICC general manager of cricket Wasim Khan said the issue was raised in one of the Cricket Committee meetings but was not taken forward.
Byju Raveendran, the founder and chief executive officer of the beleaguered edtech firm Byju's, said the company credited all pending January salaries to employees over the past few days. This was communicated to the employees in another letter sent on February 4. Byju's has about 15,000 employees. "I know you were told that you would get your salaries by Monday.
The Central revenue department is inquiring into the payment of service tax by the event management firm which had organised the controversial Thinkfest on behalf of the Tehelka magazine.
India is working towards policies and regulations that would encourage non-cash payments.
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
Former leg-spinner Stuart MacGill has sued Cricket Australia for $2.6 million, claiming that CA owes him the money as part of his injury payments.
'We have interesting leads on the agents. The roles of agents in this entire operation, who were doing what.'
When its founder, Raghunandan Kamath, took a calculated risk, his Bollywood customers backed him all the way, say Rohith Potti and Pooja Bhula.
With the start of the World Cup cricket tournament, Reliance Jio and Bharti Airtel have rolled out plans to woo cricket fans. Reliance Jio has started offering multiple prepaid plans bundled with Disney+ Hotstar where users will be able to watch World Cup cricket matches. Bharti Airtel has launched two plans, which include unlimited data for 2 days against a payment of Rs 99 and 6GB of additional data with 1-day validity for Rs 49.
'Clients deemed higher-risk are required to update their KYC more frequently.'
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
'RuPay' is developed by National Payments Corporation of India.
The ICC could not assess the likely maximum claims from the Global Cricket Corporation for violation of the ambush marketing clause.
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