The Reserve Bank of India has responded to widespread criticism of its directive to collect ‘explanations’ from those depositing more than Rs 5000 by clarifying that this directive will not apply to bank accounts with proper documentation. “On a review of the above, we advise that the provisions of the above circular at sub para […]
The Union Cabinet has approved an ordinance that empowers all employers to pay their salaries via banks unless the salary is less than Rs 18,000. This has been done to promote cashless economy, and to bring more and more of the economy into the formal sector. Salary can now have to be routed through electonic payments […]
The government of India has started conducting inspections at drug manufacturing units across the country to prevent the production of low-quality drugs and medicines in India. Typically, inspections are conducted by state authorities, while central agencies largely confine themselves to checking quality of final products put up on store shelves. However, in the last few […]
Narendra Modi announced several ‘prize schemes’ to promote cashless transactions. Under the schemes announced today, there will be two sets of prizes for consumers and another for small merchants. Under the first scheme, any customer who uses any electronic form of payment, including wallets and debit cards, will qualify for a ‘lucky draw’ of Rs […]
The Reserve Bank of India said that any person who continues to hold old notes of 500 and 1000 rupees in bulk will get only one more chance to deposit them into bank accounts and will also have to provide an explanation for the delayed deposit. “Tenders of SBNs in excess of ₹ 5000 into […]
Swaraj India party today said the Income Tax department’s decision to continue to provide immunity to political parties from having to reveal their sources could turn them into money laundering centers. According to Section 13(A) of the Income Tax Act, 1961, if you have registered a political party, you can deposit any amount of money […]
PayTM, India’s largest wallet company, has been cheated to the extent over Rs 6.15 lakh by 48 customers claiming illegal refunds for goods they already received. The fraud does not involve any leakage of money from the wallet service, but is centered around claiming illegal refunds for goods that were ordered, and received via PayTM’s […]
BSNL Chairman and Managing Director Anupam Shrivastava said the recruitment of Junior Engineers (JEs) into the telecom company has been frozen by the Department of Telecom on the basis of complaints. “It is being held up by the Department of Telecom… due to complaints,” Shrivastava said in response to questions by candidates who have qualified […]
PayTM, India’s largest wallet company, has been cheated to the extent over Rs 6.15 lakh by 48 customers claiming illegal refunds for goods they already received. A case has been registered with the Central Bureau of Investigation, which is currently looking into the matter. Besides PayTM, others such as Freecharge and MobiKwik are also present […]
Viviana Mall in Mumbai has installed one of the largest single-site solar plants in India. The mall, located in Thane, has constructed a 900,000 volt-ampere rooftop solar power plant, which the company said was the biggest in India. 900,000 volt-ampere refers to the peak capacity of the power plant. It implies that at full power […]
The Supreme Court today upheld service rules and provisions that impose ‘clean shaven’ rules for the Indian Air Force. Dismissing a petition by a Muslim person, the court said the Air Force was well within its authority to lay down the rule prohibiting the sporting of a beard for its personnel. Many organizations, including the […]
The Supreme Court of India has banned the sale of liquor along highways in India. It has ordered that all the licenses of liquor shops in and around the national and state highways in all the states should be closed when their licenses expire. During the trial, the court asked the central government for its […]
Keeping up his attacks on Tata Group interim chairman Ratan Tata, BJP leader Subramanian Swamy fired yet another salvo at the veteran industrialist for investing huge amounts of money into Britain, instead of doing so in India. Tata Steel had acquired UK-based Corus for around 6.2 billion pounds in 2008, making the company the fifth […]
Taxes in India will be made more reasonable as more and more transactions switch to the cashless mode, finance minister Arun Jaitley said. “As more and more transactions are made cashless, they will come under taxation.. (and with this) taxes will be made more reasonable, both direct and indirect,” Jaitley said today. The finance minister […]
Every big event sees a flood of fake messages on social media, particularly WhatsApp, as mischief makers take advantage of people’s desperation to feed them false information. Unfortunately, cyclone Vardah is no exception. There are several WhatsApp messages that contain apocalyptic warnings about a mega flood in store for Chennai and so on. While heavy […]
Womens’ rights and equality activists have welcomed the observations of the Allahabad High Court on the institution of Triple Talaq among Muslims in India. The observations, made while disposing of the petition of a 23-year-old woman and her 53-year-old husband, have also been hailed by the BJP, several Muslim organizations and many other social and […]
There has been a substantial increase in the number of ceasefire violations along the line of control between India and Pakistan as well as in the deaths and injuries caused by them, according to home ministry data. So far this year, a total of 99 Indian army and BSF personnel have been injured by ceasefire […]
A new study by the Exim Bank has found that around 15% of the total jobs in India are related to India’s exports sector, including both IT, BPO and material goods such as garments. The total number of jobs supported by aggregate Indian exports increased from about 34 million in 1999-00 to 62.6 million in […]
Two weeks after claiming that around 2 cr illegal Bangladeshi immigrants are living in India, minister of state for home affairs Kiren Rijiju seems to be backpedaling on the claim. “There is no confirmed data with regard to number of Bangladeshi citizens illegally residing in the country..” he told the Lok Sabha today, two weeks […]
The All India Anna Dravida Munnetra Kazhakam (All India Anna Dravidian Progressive Party) started a crucial meeting of its top leadership at 6:30 PM today, minutes after the party hurriedly re-hoisted the flag on its headquarters. All the party’s MLA’s are attending the meeting. The decision to lower its flag at around 5:30 pm today […]
