#indianmarket

This will be a game changer for the payments industry: Payments Council of India welcomes RBI allowing tokenisation of cards through banks

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The Payments Council of India (PCI), a representative body of the non-banking payment industry in India, welcomed the Reserve Bank of India’s (RBI) move to enable the issuing of tokens for cards via internet and commercial banks. This RBI decision, announced through a recent circular, will empower cardholders by offering them an additional option to … Read more

Modi govt planning to slash import duty of electric vehicles to 15% from 100% after Tesla proposal committing manufacturing in India, says report

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The long wait for entry of Tesla cars may be over as the Indian government is reportedly working on a new electric vehicle policy reducing import duty on imported cars. According to a report by Reuters, officials in the Modi government have said that the new policy could allow automobile companies to import fully-built electric cars to … Read more

PM Modi addresses B20 Summit, urges businesses to become more consumer-centric, calls for framework of cryptocurrencies and ethical use of AI

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On Sunday (27 August), Prime Minister Narendra Modi delivered a keynote address at the Business 20 (B20) Summit 2023 which is organised by CII. Notably, B20 is the official G20 dialogue forum with the global business community. Through his address, PM Modi laid a strong pitch for inviting business leaders and investors to become a … Read more

Financial influencer Ravindra Bharti, who promised up to 1000% returns, ordered to pay Rs 12 crore by SEBI, banned from securities market

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A financial influencer (finfluencer) who was also involved in imparting training related to stock market trading has been asked to part with a little over Rs 12 crore, which it made unlawfully. The person, Ravindra Balu Bharti, is directed to credit/deposit the money to an interest bearing Escrow Account created specifically for the purpose in … Read more

GST : Ashneer Grover, co-founder of BharatPe urges govt to withdraw them saying ‘Na koi tax dega, na sarkar ko milega’

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Ashneer Grover, co-founder of BharatPe, said on Tuesday, September 26, that an alleged Rs 55,000-crore Goods and Services Tax (GST) demand from online gambling companies will not help India attain its goal of being a $5-trillion economy. Grover is the founder of the fantasy game app Crickpe. Grover stated on the X platform (previously Twitter) that “na … Read more

The US has not asked India to reduce its purchase of Russian oil, says American treasury official

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The United States has not asked India to stop or reduce its oil imports from Russia and nor has it sanctioned any Indian entity for buying and refining crude oil purchased from Russia since the beginning of its war with Ukraine, according senior American officials from the United States Treasury Department. “There is no restriction, … Read more

Indian economy adds 5.2 crore new formal jobs in FY20-FY24, women’s share 27%: Report

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India has added nearly 5.2 crore new formal jobs between the financial year 2020 and 2023, according to an SBI research report. The report was based on an analysis of the Employee Provident Fund Organisation (EPFO), National Pension Scheme (NPS), and Employees State Insurance Corporation (ESIC). 2.7 crore new employees were added during the same period, according … Read more

US comes in support of India, slams China for ‘renaming’ 30 places in Arunachal Pradesh

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In a major development, the United States has strongly opposed China’s claim of sovereignty over Arunachal Pradesh, describing it as “unilateral attempts” by Beijing to assert its territorial claims. Biden administration’s response comes after China released a new list of Chinese names for 30 sites in India’s northeastern state. “The United States strongly opposes any … Read more

Reports claiming significant hikes in prices of medicines are false, misleading and malicious: Union health ministry

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The government dismissed the media reports claiming that medicine prices will witness a significant hike by up to 12 per cent from April 2024 and called them false, misleading and malicious. “Some media reports have highlighted that medicine prices will witness a significant hike by up to 12 per cent from April 2024. These reports … Read more

Modi government’s successful rescue operations: Here is how PM Modi became a Savior for Indians stranded abroad in times of global crises

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Global peace and security have been experiencing instability due to various conflicts and wars on multiple fronts. Additionally, the unprecedented COVID-19 pandemic exacerbated these crises, leading to multiple occasions when the large Indian diaspora found itself stranded in war-torn or crises-hit nations. However, while several major powers were caught wanting for opportunities to act or … Read more