The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Here's what you MUST know to check your Employees' Provident Fund balance and status online.
The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions is mandatory for companies with turnover of over Rs 500 crore from October 1. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said e-invoicing will be extended to businesses with a turnover over Rs 100 crore from January 1.
The spurt in online sales during the festival season is expected.
Earlier last month, for the first time ever, an anonymous hacker was served with a restraining order as a non-fungible token (NFT), reports Shivani Shinde.
India's largest carmaker, Maruti Suzuki India (MSIL), is focused on getting 50 per cent of its customers' car-financing transactions executed through its Smart Finance platform by next year. Shashank Srivastava, executive director-sales, MSIL, said this will help the company turn its website into a single-window channel through which customers can select their models, find dealers, and arrange financing. He said there is a likelihood that 100 per cent of its customers availing of financing will take it through Smart Finance. To date, the company has disbursed Rs 6,500-crore loans via Smart Finance to around 100,000 customers, accounting for 28 per cent of all finance-based car-purchase transactions for the company.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Agriculture, social services, education, defence and so on will be brought into the digital fold and every gram panchayat will be connected to the internet.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
The popular National Electronic Funds Transfer (NEFT) system for online transfer of funds will remain unavailable for 14 hours from Saturday mid-night till Sunday afternoon due technical upgrade, the Reserve Bank of India said on Monday. National Electronic Funds Transfer (NEFT) is a nation-wide centralised payment system owned and operated by the Reserve Bank of India (RBI). It is available round the clock availability on all days of the year.
Digital payments provider Paytm is all set to make its market debut as early as this year, with an aim to raise $3 billion (around Rs 22,000 crore). If successful, this could be the biggest initial public offering (IPO) by an Indian company, breaking Coal India's 2010 record of Rs 15,475 crore. According to media reports, the board of One97, parent company of Paytm, is all set to meet this Friday to formally approve the IPO plan.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
MySmartPrice has been growing about 100 per cent a year and is profitable.
Kerala-based journalist Sidhique Kappan, arrested in October 2020 on the way to Hathras where a Dalit woman had died after allegedly being gang-raped, has deep links with the Popular Front of India and is part of a larger conspiracy to "incite religious discord and spread terror", Uttar Pradesh government has told the Supreme Court.
Demonetisation and GST are the main reasons for the job losses.
E-commerce giants such as Amazon, Netflix and Flipkart, whose headquarters are not in India, potentially have to pay the additional levy of 2 per cent from April 1.
Around 30-50 million passengers in the reserved category have switched over to digital payments.
The PM, who is the 'acharya' or chancellor of the central university, inaugurated Bangladesh Bhavan with Hasina on this occasion.
Amazon's investors are counting on its international business and expansion to help drive growth and support its $165 billion market value, one of the highest among US firms.
The $108 billion Indian IT-ITeS industry is also witnessing the rise of tier II and III cities like Kochi, Ahmedabad and Kolkata as product hubs.
The coronavirus pandemic has changed how businesses look at payments. Earlier, fintech companies said when they were talking to merchants, they were not interested in digitisation.
Investors, including large corporations, view them as a potential hedge against uncertainty, and mainstream investment banks too are jumping into the game.
In its second ruling against Google in less than a week, the Competition Commission on Tuesday slapped a penalty of Rs 936.44 crore on the internet major for abusing its dominant position with respect to its Play Store policies.
The temptation to get into businesses that are hot is perhaps too great for any politician, no matter what his public slogans are. Nehru plunged into hot sectors of his time -- engineering and iron and steel. Modi has plunged into digital payments -- the hot sector of his time, notes Debashis Basu.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
Opposition members in the Lok Sabha on Monday blamed the Bharatiya Janata Party-led central government's policies for the price rise and accused it of ignoring the plight of common people, saying kitchens will soon "see a lockdown" if the Centre does not take corrective measures.
Telecom operator Bharti Airtel's CEO has warned customers about rising cases of cyber-frauds, citing a recent instance of a fraudster who posed as company executive and under the guise of updating KYC form, tricked a user into revealing bank details to transfer large amount from the bank account. In an email outreach to subscribers, Gopal Vittal, CEO of Airtel urged users to be vigilant against such cases of cyber fraud that are becoming "alarmingly frequent". Vittal spoke of a recent case where a cyber-fraudster posing as company executive called up an Airtel customer on the pretext of updating his Know Your Customer (KYC) form, tricked him into revealing his bank details and transferred a large sum of money from his bank account.
Ebix had signed the agreement last year to acquire Gurugram-based Yatra Online for an enterprise value of $338 million (about Rs 2,327 crore) in an all-stock deal. The deal was supposed to conclude in the October-December quarter after regulatory approvals but went through several extensions, according to regulatory filings with the US Securities and Exchange Commission.
IT major Infosys on Thursday acknowledged that some users continue to experience difficulties in accessing the income tax portal and assured that it is working expeditiously, in collaboration with the income tax department to further streamline end-user experience.
The demand for full-stack developers in India have seen a 20% increase in the last one year.
Shobha Warrier/Rediff.com travels to Pullampara to discover how it became India's first digital literate village.
Instead of relying on technology that is not in their control, businesses should stop using SMS based OTPs and start using other software-based or hardware-based token authentication, which are in their control, says Venkata Satish Guttula.
From watches and sunglasses to trekking/fitness bicycles, online shoppers seem ready to loosen purse strings.
Bulk of the medicine sales in the $22-24 billion domestic pharma market happens through offline retail chemists. With the entry of online pharmacies, this space has started to witness a shake-up. Sample this: Dawaa Dost, a Rajasthan based digital health start-up, generates medicine orders from 'kirana' stores and women self-help groups (SHGs) that operate in villages, and then service these orders through its affiliated network of pharmacies. Biddano, another health-tech start-up, has a platform that acts as an aggregator for neighbourhood chemist shops.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
Monthly and seasonal suburban railway tickets purchased through digital mode will get 0.5 per cent discount from January 1
The Reserve Bank of India's latest data indicate that spending per card is rising steadily - something that consumers should worry about
Foreign airlines charge $100-200 or euro 75-150 for excess baggage, while Indian airlines charge Rs 300-500 per kg above 15 kg.
Terming the decision as "good news for cinema lovers", Union Minister of Information and Broadcasting, Prakash Javadekar said that Union home ministry had given the nod to the decision of opening the cinema halls on January 27.
US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale. Both Flipkart and payment app PhonePe continue to do well, Walmart International president and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. "We always made it clear from the day we made the acquisition or the investment, that we would be open to an IPO," said McKenna. However, she noted that there is no specific timeline for the IPO.
