Aadhaar-based e-KYC facility would allow individuals or entities wanting to apply for PAN to verify details such as date of birth or address by way of biometric identification using thumb impressions.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
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.
The Working Committee, which met in Delhi on Tuesday, decided to have the graded system till September.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
The Supreme Court on Tuesday asked the Maharashtra government to apprise it about whether compensation has been paid to the legal heirs of 168 people, who were stated to have gone missing during the 1992-93 communal riots in Mumbai.
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
'When resources are few; when frugality demands repairing a broken thing rather than replacing it with a brand new and expensive option, enterprising commoners in rural and urban India improvise on a daily basis and solve their problems with whatever they have,' observes Shivanand Kanavi.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Modi, who addressed a public meeting in Hyderabad after laying foundation stone and inaugurating several development projects, also said the lack of cooperation from the state government is leading to delay in the completion of several central projects in Telangana.
11th-hour debt restructuring programme offered no concessions to creditors
Banks may become more cautious in extending loans, as more and more farmers may take loans, relying on the assurance that a debt relief commission will back them in the event of default.
Come April 23 and rail commuters can use a mobile phone App to obtain tickets in the unreserved category.
The idea was that despite some defaults the high rates would assure good profits.
In view of the economic shock caused by the COVID-19 pandemic, Reserve Bank of India (RBI) on Friday asked scheduled commercial banks and co-operative banks not to make any dividends for the financial year ended March 2020. In view of the ongoing stress and the heightened uncertainty on account of the pandemic, RBI said it is imperative that banks continue to conserve capital to support the economy and absorb losses, if any. The decision is based on review of the September quarter financial performance of banks.
Central bank raises red flag, warns of potential risk
Kandula, 23, was struck by a police vehicle driven by Officer Kevin Dave when she was crossing a street in Seattle on January 23.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
Through this mobile application, the handset will be used for authenticating biometrics of customers making Aadhaar enabled payment.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
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.
Food delivery firm Zomato Ltd said on Wednesday most stores of its grocery unit Blinkit had resumed operations after being shut following protests by delivery partners. "Over the last few days we have made changes in the delivery partner payout structure with respect to the Blinkit business to address the needs of delivery partners, improve customer experience and reduce cancellation/ order rejection frauds by few delivery partners in the system. "Such changes are done from time to time, as needed," said the company in a letter to the BSE.
Although such alerts are not compulsory for the banks, this may become the norm now if payments are missed even for a day.
Fintech unicorn Razorpay has raised $375 million in the Series F round of funding at a $7.5-billion valuation, making it India's second-most valuable start-up in this space, after Paytm. The company valuation has surged over seven times in 15 months, helping it push Walmart-owned digital payments firm PhonePe to the third spot on the country's most-valuable fintech list. Razorpay's latest round of fundraising was led by Lone Pine Capital, Alkeon Capital, and TCV.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
Surplus liquidity in the banking system as measured by absorption of excess funds by the Reserve Bank of India (RBI) fell sharply at the end of the last week due to outflows on account of advance tax payments. According to the RBI data, the net liquidity absorbed by the central bank on September 16 was at Rs 3,243.57 crore, much lower than the average of Rs 56,809.92 crore in the preceding four days of the week. The average absorption of funds by the RBI so far in September is at Rs 1.13 trillion, against the average of Rs 1.2 trillion in the previous month, the data showed.
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
Sweden's former striker Zlatan Ibrahimovic said that they should simply enjoy themselves at the World Cup because without him in the team there is no expectation.
Bimola Thounaojam, the mother of an 18-year-old youth, has been trying frantically trying to work out how to get her son admitted to a college outside Manipur without having to go through the usual net-based admission procedure.
While Bihar and J&K have the least proportion of bank account holders using debit cards at PoS machines, Telangana's record is the highest.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
The Enforcement Directorate (ED) on Tuesday arrested former Mumbai police commissioner Sanjay Pandey in connection with a money laundering case linked to the alleged illegal phone tapping of NSE employees, officials said.
After his visit to Gohana to attend a public rally on Sunday was cancelled due to bad weather, Union Home Minister Amit Shah addressed the gathering briefly over phone and exuded confidence that 'lotus will bloom' on all Lok Sabha seats in the state in 2024 elections.
The launch of e-RUPI, a person- and purpose-specific digital payment solution, by the government is expected to completely negate any pilferage and will ensure full benefit to intended beneficiaries, India Inc said on Monday. Prime Minister Narendra Modi has launched e-RUPI, which is aimed at improving transparency and targeted delivery of benefits. PHD Chamber of Commerce and Industry president Sanjay Aggarwal said that the move is a significant step to enhance the digitisation process of the country.
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.
Gautambhai has shown that he has ability to withstand payment delays or vexatious court cases. That is where he is on a more comfortable wicket than many others. A revealing excerpt from R N Bhaskar's Gautam Adani: Reimagining Business in India and the World.
Customers taking small and convenient steps and some degree of care and precaution while paying digitally will ensure safety and security from new threats that emerge every day, says Avinash Luthria
In the document, the global body expressed concerns over the increasing use of Internet and other information and communications technologies, including social media platforms, for terrorist purposes.
The 16-digit randomly generated number by the Aadhaar system was supposed to be introduced by the UIDAI on March 1 and mandatorily deployed by companies using Aadhaar by June 1.
