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
In a cabinet meeting chaired by PM Narendra Modi on Wednesday, the Union Cabinet approved an incentive scheme for the development of the semiconductors and display manufacturing ecosystem in India. The cabinet approved an incentive of ₹76,000 for the development of the semiconductors and display manufacturing ecosystem in India. With this, the total amount of incentives announced … 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
Two senior-most district judges from Himachal Pradesh have approached the Supreme Court to challenge the selection process of judges by the collegium of their state High Court. The judges have raised questions on the decision of the HC collegium and alleged that it ignored their merit and seniority during the selection process. They further alleged that the collegium overlooked the specific … Read more
Telecom companies have been ordered by the government to disable 28,200 mobile phones that were used in cybercrimes. Furthermore, it has also asked telecom companies to re-verify 2 million mobile numbers associated with these handsets. The Ministry of Communications stated that these numbers would be disconnected if the second verification is unsuccessful, in a statement. The government is combating cybercrimes … Read more
In late April 2024, the International Monetary Fund (IMF) estimates revealed that India’s Gross Domestic Product (GDP) in Nominal terms will reach $4.34 trillion in 2025 while Japan’s GDP will be at $4.31 trillion. With this, India will overtake Japan to become the World’s 4th largest economy by next year. Incidentally, New Delhi’s jump to fourth place … Read more