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
The Indian government has announced that the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, is expected to be tabled in the Winter Session of Parliament. The bill will seek to create a framework for the official digital currency to be issued by the Reserve Bank of India. The bill looks to “prohibit certain private cryptocurrencies … Read more
Slamming the Western media over the “negative” coverage of Indian elections, External Affairs Minister S Jaishankar said that the countries that “have to go to court for deciding election results” are giving “gyan” on conducting polls. Taking a swipe, he said the Western countries “feel” they have influenced the world for the last 200 years, … Read more
The Chairman of the Indian Overseas Congress and Rahul Gandhi’s advisor Sam Pitroda stroked a political firestorm after he suggested a US-like inheritance tax in India as a way to redistribute wealth. As per the Congress leader, under this tax regime, more than half of the Wealth of a citizen will be grabbed by the government once … Read more
The union cabinet today approved an incentive scheme to promote the use of RuPay debit cards and low-value BHIM-UPI transactions. The scheme, which will promote the use of RuPay debit cards and person to merchant UPI transactions upto Rs 2,000, was approved in a cabinet meeting on Wednesday chaired by Prime Minister Narendra Modi. … Read more
The 2019 Amazon deal with Future Coupons, a unit of Future Retail Ltd, has been suspended by the chief national competition regulator in India, the Competition Commission of India (CCI). In addition, the regulatory body has also fined the US e-commerce giant Rs 200 crore for concealing facts while obtaining approval for the deal. The CCI said … 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
The Bilateral ties between India and Iran are set to strengthen further as India’s shipping minister Sarbananda Sonowal is travelling to Iran on the 13th of May to ink a contract with Iran regarding the strategic Chabahar Port. Minister Sonowal will be signing the agreement under which India will manage the Chabahar Port for the next ten years. With the … Read more
On Monday, May 13, Maldives’ government thanked the Indian government for providing budgetary support worth $50 million. The support was extended in the form of a rollover of a $50 million treasury bill for one more year which was done through the State Bank of India’s branch in the Maldivian capital of Male. The financial … Read more
The Bombay High Court refused to cancel the MBBS admission of a doctor, who gained her entry into a Mumbai medical college under the OBC-Non-Creamy Layer Certificate based on false information. The Court noted that the ratio of doctors to the population is very low in India, and hence revoking her admission now will be … Read more