Its entry will increase competition especially when WhatsApp too has received approvals to launch payment service.
The RS allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new financial innovations, while carefully monitoring and containing their risks.
After India banned 59 Chinese apps last month, at least three more China-based video apps - Snack Video, Likee Lite, and Zili - have now made it to the list of top 10 downloaded apps in India on Google Playstore.
The defence ministry also cleared the project, to acquire 5,000 Milan 2T anti-tank guided missiles for the Army.
The terrible beauty of Doval's initiative is that it is all about a new journey rather than about a set compass pointing toward a pre-determined destination, observes Ambassador M K Bhadrakumar.
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
'The steady poverty reduction achieved over the last three decades could be largely reversed in this one financial year with hundreds of millions sliding below the red line,' warns Devangshu Datta.
While Indians are increasingly using mobile platforms and technology for various financial transactions and purchases like bill payments, ticket bookings, entertainment, travel and banking transactions, cross border mobile remittance is yet to see the light of the day.
India hopes to bridge gap with US to buffer against a Paris agreement that restricts country's developmental space.
ShopClues does 1.5 million transactions a month and claims to have 40 million monthly visitors.
'As a child, I believed that my world record would be a national pride. But I feel cheated now.'
A salvo from a Pinaka battery brings down on the enemy more than seven tonnes of high explosive in just 44 seconds.
The announcement comes as a big relief to international students, including those from India.
The keenly-awaited Mahindra Thar 2020 was finally unveiled on August 15, 2020. Here are the first images of one of the finest off-roaders!
Unbanked customers can expect easier access to banking.
Political parties have demanded a thorough probe after the family of the student, who hailed from Kerala, accused a faculty member of the IIT-M of driving her to commit suicide.
Ashish Narsale/Rediff.com brings you the details.
The government has refused to exempt the digital news content of mainstream television channels and print media from the ambit of the the IT Rules, 2021 and asked them to take 'urgent steps' to comply with the provisions of the digital media rules immediately.
'The politician in him saw to it that the foundation stone was laid in Ahmedabad in the run-up to the assembly election in Gujarat in 2017.' 'But the statesman in him also wants it to be his legacy.'
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
...but are we chasing yesterday's dreams, asks Ajit Balakrishnan.
As President Biden moves ahead with a new 'strategic concept' for China and Russia, the going is bound to get rough for the US and its G7 partners, notes Ambassador T P Sreenivasan.
'Unless we make our own testing kits, we will not get out of this disease faster.'
Rajnath also pitched for incentives in defence manufacturing, Singh said foreign companies are not only interested in investing in India but also ready to transfer technologies.
The existing building is a British-era building, designed by Edwin Lutyens and Herbert Baker who were responsible for planning and construction of New Delhi.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
A committee suggested that CSR expenditure be made tax deductible, in order to incentivise spending by companies. It also said that CSR should not be used as a means of resource-gap funding for government schemes.
This would provide a major boost to the indigenous design and construction capability of submarines in India.
Though the system is called faceless, it would have a room for inviting tax payers through video conferencing.
Wipro Infotech - the Asia-Pacific and West-Asia arm of the $4 billion Wipro Limited - has restructured its operations. The company has transferred majority of its business to global IT division, Wipro Technologies. Wipro Infotech has also undergone other management changes, and re-alignment of various verticals. According to the mail, Anand Sankaran is being appointed chief executive of Wipro Infotech.
LHB coaches are safer. Two high-level railway safety commissions came down heavily on ICF coaches, recommending their replacement by LHB, says Bibek Debroy.
NPCI has launched several consumer friendly systems including one that allows users to transfer money to people over mobile phones across India.
The Supreme Court is scheduled to pronounce on Thursday its verdicts on a batch of petitions seeking re-examination of its decision to allow entry of women of all age group in Kerala's Sabarimala Temple and a review of its judgment giving a clean chit to the Modi government in the Rafale fighter jet deal with French firm Dassault Aviation.
Indians are more vulnerable to technology support-related scams compared to the global average, and lost over Rs 15,000 on average in such scam, a Microsoft research has found. According to the 2021 Global Tech Support Scam Research report, which looks at tech support scams and their impact, consumers in India experienced a relatively high scam encounter rate of 69 per cent during the past 12 months, close to the 70 per cent rate experienced in 2018. In contrast, there was an overall five-point drop in scam encounters globally with a rate of 59 per cent over the same period. The survey was conducted in Spring 2021 and asked consumers to share their experiences with tech support scams for the year prior (January 2020 to present).
The country's largest stainless steel maker Jindal Steel (Hisar) on Wednesday marked its foray into the defence sector by forging a pact with DRDO for transfer of technology relating to high-nitrogen steel for armour applications.
India has demanded the speeding up of global efforts to ban ozone-depleting chemicals and asked for adequate funding and transfer of related technologies to help developing countries reduce their emission.
The secretary defence production wants to make India (currently the largest importer of weaponry) one of the world's top five defence manufacturers and a global leader in artificial intelligence and cyberspace.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
The police claimed there were several WhatsApp chats that revealed Kundra, 45, the husband of Bollywood actor Shilpa Shetty, was involved in the financial dealings of the app and its contents.
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