The union finance ministry has issued the detailed guidelines for the waiver of ‘interest on interest’ for loans that was announced earlier this month. The govt had decided to waive the compound interest on loans upto Rs 2 crore for a period of six months, from March to August. It was announced that this compound interest waiver will be … Read more
In a significant move aimed at reforming the BPO and ITeS Sector, the government of India has announced liberalisation of the regulatory regime for the ‘Other Service Provider’ Industry in the sector. ‘Other Service Provider’ an entity providing Application Services like tele-banking, tele-medicine, tele-education, tele-trading, e-commerce, call centre, network operation centre (NOC) and other IT-enabled services to … Read more
With its ever-growing rise in popularity, including a mention from billionaire Elon Musk on the hit American TV show Saturday Night Live, Dogecoin has exploded into the culture. The meme-based cryptocurrency started out in 2013 as a joke. However, it has since established itself as a popular cryptocurrency, soaring to an all-time high last week. As of … Read more
India’s fintech company PhonePe Unified Payments Interface (UPI) has been launched in Sri Lanka. Central Bank of Sri Lanka Governor Nandalal Weerasinghe and India’s High Commissioner to Sri Lanka Santosh Jha attended the launch event in Sri Lanka. In a post on X, the Indian High Commission in Sri Lanka stated, “Unlocking new frontiers in … Read more
The union govt is reportedly going to table a Bill in the winter session of Parliament aiming to create a facilitative framework for the creation of official digital currency to be issued by the Reserve Bank of India (RBI). As per the description of the Bill available, the ‘The Cryptocurrency & Regulation of Official Digital Currency Bill, … Read more
Union Finance Minister Nirmala Sitharaman on Monday informed how banks have collected roughly Rs 13,109 crore from asset sales of defaulters such as fugitive diamantaire Nirav Modi, Mehul Choksi, and erstwhile liquor baron Vijay Mallya. The assets were seized by the Enforcement Directorate in accordance with the Anti-Money Laundering Act (PMLA). The Finance Minister further informed today … Read more
After India banned the export of wheat and broken rice, and in light of the ongoing Russia-Ukraine war that has impacted global trade, there is a perception that there is a decline in exports from India which will have a negative effect on the Indian economy. There were concerns about the reduced growth rates in exports to Europe and USA, … Read more