13 C 
How will my salary arrears be taxed in India?
Effective 2020-21, dividend income earned from shares held in Indian domestic companies are taxable in the hands of shareholders
Wheat output likely to rise by 5 MT this year: Gyanendra Singh
India is likely to produce 112 million tonnes of wheat during the harvest period, which will be 5 million tonnes more than last year, he added. This year, farmers have used new seeds, which have better tolerance to heat and are high yielding in nature, Singh said, adding the new varieties are DBW 187, DBW 303, DBW 222, DBW 327 and DBW 332.
India expected to pip Brazil as eighth largest ad market: GroupM
In 'This Year, Next Year 2022', GroupM has ranked India as the ninth-largest advertising market globally. The report was released earlier this month. It says India's total advertising revenue in 2022 has grown by 15.8% to touch $14.9 billion, led by growth in pure-play digital advertising. In 2023, it is expected to grow by 16.8%.
Scam in cooperative bank: ED has attached assets worth Rs 30 crore
The Enforcement Directorate (ED) has attached assets worth Rs 30.70 crore of Bijoy A K, the commission agent of Karuvannur Service Co-operative Bank Ltd, under the Prevention of Money Laundering Act in fraud and cheating case. The ED said the attached assets include 20 immovable properties consisting of land and building in Kerala, two premium cars, Rs 3,40,000 and foreign currency totalling Rs 2,08,124. The sleuths attached bank balances also in Bijoy's 57 accounts worth Rs 35,86 990. The enforcement agency said he illegally sanctioned and disbursed loan to the tune of Rs 26.60 crore in cash without any collateral due to systematic conspiracy hatched and perpetuated by the secretary and committee members of the bank since 2010. The ED initiated a money laundering investigation on the basis of the FIRs registered by the Kerala police under section 420 of the IPC. Kerala police (Crime Branch) has registered more than 16 FIRs in Thrissur District regarding fraud in Karuvannur Service
Vikram Kirloskar: A dosti with differences
India shares a list of products with Moscow for access to Russian market
Moscow had sent India a list of more than 500 products for potential delivery
E-Visa facility resumes again for UK nationals travelling to India
For the first time since March 2020, India is all set to resume the e-Visa facility for UK citizens travelling to India, the High Commissioner of India to the UK announced in a video message on Monday
Is Bharat Bond ETF2023 set to match its launch yield?
Come April, and Bharat Bond ETF 2023, among the first in the Bharat Bond series to be launched by Edelweiss MF, will hit maturity
'Fake currency, terror financing should be tackled', Centre to SC on DeMo
Fake currency, terror financing and black money are three evils and are like 'Jarasandha' (an antagonist in Mahabharat) and should be cut into pieces, the Centre told the Supreme Court on Monday while opposing the pleas challenging the 2016 demonetisation exercise. Attorney General R Venkataramani, appearing for the Centre, submitted before a five-judge Constitution bench headed by Justice S A Nazeer that the government is duty bound to address the three evils. They (petitioners) have said we should have conducted studies before demonetisation. For more than a decade, central government and the Reserve Bank of India have been looking at the three problems (fake currency, terror financing, black money)... They are like Jarasandha. You have to cut it into pieces. If you don't cut it into pieces, it will always be alive, he said. Venkataramani said judicial review of an economic policy may be restricted to where the court may only determine if there is a rational nexus with the objec
What new norms for overseas investment imply
Indian residents can receive gifts of foreign securities from any relative staying abroad
We must look for newer markets for Indian millets: Piyush Goyal
Commerce and Industry Minister Piyush Goyal on Monday called for looking at newer markets for Indian millets to push exports. He also said that there is a need for more research and focus on standards for the sector. We must look for newer markets and destinations. Research is required to see newer varieties, he said here at an international buyer-seller meet on millets. The minister also called for greater participation of industry besides focusing on boosting productivity of millets. Millets help in reducing carbon emission besides promoting growth of agriculture. Let's become the global capital of millets, he added. Speaking at the event, Commerce Secretary Sunil Barthwal said that there is a huge scope to boost millet exports from India. We can achieve the target of USD 100 billion in 2-3 years from USD 15 million, he said. He said that the ministry will be organising several such buyer-seller meets in India and abroad to promote millets. I am sure the culture of gro
AB InBev shows interest in extending Mysuru unit, to invest Rs 500 crore
AB InBev's Chief Executive (Asia-Pacific zone) Jan Craps met Chief Minister Basavaraj Bommai on Monday and showed interest to invest more in the State, the CMO said in a release. It said AB InBev is an American-Belgian multinational drink and brewing company based in Leuven, Belgium. This company has set up a brewery unit in Mysuru and wanted to extend its plan by investing another Rs 500 crore.
Should you invest in Edelweiss MFs Bharat Bond ETFApril 2033?
The exchange-traded fund will offer an indicative return of 7.5% to those who remain invested until maturity
Govt wants Delhi-Centre power dispute case be referred to larger SC bench
The Centre on Monday told the Supreme Court that it has filed a fresh plea seeking reference to a larger bench of nine or more judges a matter involving a constitutional issue related to the control of services in the national capital. The Delhi government, represented by senior advocate A M Singhvi, opposed the Centre's plea before a bench comprising Chief Justice of India D Y Chandrachud and Justice P S Narasimha, saying, his will only create delay and such tactics cannot be allowed. Solicitor General Tushar Mehta, appearing for the Centre, said at the outset here are no facts to be controverted. But, I have filed an IA (interim application) stating that this matter (Delhi-Centre case) may have to be referred to a larger bench. Singhvi opposed the submission, saying it amounted to seeking a review of the apex court order which had said the matter did not require reference to a larger bench and the only issue remaining between the parties was the dispute pertaining to control
Credit card use at PoS higher than at e-com sites in July-Sept: Report
Attributes trend to value-added services such as EMI and BNPL which are allowing consumers to use cards for big-ticket transactions, as opposed to small-ticket earlier
Nasscom hails draft data protection bill for dropping contentious rules
Provisions on non-personal data, criminal penalties, hardware certification scheme, and statutory data residency requirements among those axed
Take Indias millets story global: Piyush Goyal
The United Nations has designated 2023 as the 'International Year of Millets'. Goyal said that millets will help resolve the global problem of malnutrition and take affordable food to parts of the world faced with food security issues. Besides being healthy, he said, they use less carbon to be produced, can also be an intermittent produce and millet hay works as fodder for animals.
CCI chief calls for devising new tools to check anti-competitive practices
Verma said that the technical cooperation programme has provided a platform for dialogue and exchange of good practices between competition authority officials and experts from the EU and India.
Finance ministry holds review meeting with heads of banks to promote cross-border trade in rupee
Following detailed guidelines from the Reserve Bank of India (RBI) on cross-border trade transactions in domestic currency in July, about nine special vostro accounts have been opened with two Indian banks to facilitate overseas trade in rupee.
India's G20 priorities to reflect that of the global south: Amitabh Kant
'This is a unique forum of both the developed world and emerging economies. We need to build new approaches that benefit them both'
State GST team raids several places of UP, Noida amid loss of revenue
The state GST department has taken action in various places in Uttar Pradesh including Noida on the complaint of loss of revenue by tax evasion
Pension AUM touches almost 8.5 lakh crore in end-November
Year-on-year growth in assets AUM at over 20 per cent, PFRDA data show
China builds country's first space station from 2020 to 2022. Here's how
China carried out a series of missions from 2020 to 2022 to build its first space station.
Sri Lanka reaches out to NDDB and Amul for technical assistance
The island-nation wants to ramp up its domestic dairy production which currently meets less than half its requirement
Resisting the Supreme Court's attempt to revisit the 2016 demonetisation exercise, the government had said on Friday that the court cannot decide a matter when no tangible relief can be granted by way of putting the clock back and unscrambling a scrambled egg.
Pointlesss star Richard Osman gets married to Ingrid Oliver, shares first picture from ceremony
Pointless lead Richard Osman got married to Doctor Who actor Ingrid Oliver at the weekend. He shared the first picture from his wedding.
How India trying to curb gold smuggling
Indias trade ministry is discussing a reduction in import taxes on gold to rein in illegal shipments, according to people familiar with the matter.The worlds second-largest consumer of the precious metal, almost all of which is purchased from abroad, has asked the Finance Ministry to consider reducing the tariff to about 10% from 12.5%, two of the people said, asking not to be identified as the deliberations are private. Its as yet unclear if the recommendation will be accepted and a decision could be announced at or before the budget presentation due early next year, they added.The matter presents a dilemma for Finance Minister Nirmala Sitharaman, who needs to keep imports low to contain a widening trade deficit, but smuggling robs the government of much-needed revenue. Her administration had raised the tariffs in July, following which the nations purchases tumbled.96008423A Finance Ministry spokesperson declined to comment and a Commerce Ministry representative didnt respond to email and text message seeking comment.Indias gold imports fell 23% in July-September from the same period a year ago, according to World Gold Council data, following the tariff increase.The bullion industry is seeking a reversal of the tax increase made in July and a reduction in the goods and services tax to 1.25% from the current 3%, according to the All India Gem and Jewellery Domestic Council. The higher import tax is creating problems in the domestic industry as it increases unofficial goods coming in and benefits the illegal trade, said Ashish Pethe, chairman of the Mumbai-based trade group. Our long-term suggestion is that the duty should be anywhere between 4%-6%, where the government will also get a good enough revenue and illicit trade will also not be there.
The high court had fixed January 18, 2023, for hearing a revision petition filed by Laxmi Devi and others challenging the Varanasi district judge's order by which the lower court had refused the demand of carbon dating of a 'Shivling' claimed to have been found in the Gyanvapi mosque complex.
Gujarat Exit Poll Result 2022: BJP likely to sweep PM Modi's home state with 139 seats
Oxford Dictionaries announced the Word of the Year for 2023, which summarizes the year very nicely.
Stop environmental release of GM mustard: Doctors write to PM
iQoo 11 series set for December 8 launch, leaks reveal iQoo Neo 7 SE likely to arrive on same day
The devices will be launched with a BMW Motorsport theme.
India, Germany sign pact to ease movement of skilled workers, students
German Minister lauds Indias focus on containing climate change at the G20
Extensive exploration programme to find minerals stepped up in Rajasthan
Additional Chief Secretary (Mines and Petroleum) Subodh Agarwal said each part of the state was rich in some mineral
Chhattisgarh's revenues see a surge in seven months: CM Bhupesh Baghel
The state has been successful in maintaining a revenue surplus of Rs 4,642 crore in the last financial year
Biocon Biologics appoints Tambe as MD & CEO
Biocon Biologics Ltd (BBL), the subsidiary of Biocon, on Monday appointed Shreehas Tambe as managing director & CEO of the company.from December 5, 2022.Tambe takes over from Arun Chandavarkar, who will continue to serve as a non-executive, non-independent director on the Board of Biocon Biologics.Tambe served as deputy CEO of Biocon Biologics since March 2021, where he played an important role in supporting Chandavarkar steer the company towards sustainable growth. Both have also played an integral role in the Biocon Biologics acquisition of Viatris global biosimilars business for $3.34 billion and the strategic alliance with Serum Institute Life Sciences (SILS).BBL said Tambe will lead BBL in realizing its goal of being a global biosimilars leader. I am extremely pleased that Shreehas is taking on the responsibility of leading Biocon Biologics as MD & CEO at a time when the company is gearing up for global leadership in biosimilars with the closing of the Viatris acquisition, said Kiran Mazumdar-Shaw, executive chairperson, Biocon & Biocon Biologics.His demonstrated track record of business success, deep technical and operational expertise provide him with proven leadership capabilities to assume this role, Mazumdar-Shaw added.Tambe has been with Biocon since 1997 and has held diverse leadership and operational roles. Over the past 25 years, he has helped build and shape Biocons biosimilars business and spearheaded the Groups strategic capital investments, including its first overseas facility in Malaysia. He has also been instrumental in securing regulatory approvals and enabling the successful launch of several of the Companys biosimilar assets in global markets such as the U.S. and EU.Tambe holds a masters degree in Bioprocess Technology from ICT (UDCT), University of Mumbai and has also studied Pharmaceutical Sciences & Technology at the University of Pune.
Firms' PAN to be identifier for govt single window clearance system
PAN database has relevant information about companies, says commerce minister Piyush Goyal
Agri implement maker GROWiT launches e-commerce portal
The portal will initially feature 18 protective farming products with sub-categories and more than 100 SKUs
Centre approves 1,584-crore National Mission on Natural Farming
Lack of organic carbon in the soil is a serious concern, says Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar
The power of screenshots! From Twitter fan fiction to desktop films, a new narrative
What began as a simple way to document electronic images has evolved into a form of expression of its own.
The world finally has its 1st parastronaut. Can space travel be accessible to all?
NASA first selected astronauts, the Mercury Seven, in 1959.
When CJI moonlighted as RJ at All India Radio
Purpose of charity should not be religious conversion: SC
GST Council to take up proposal of decriminalsation of GST offences
The GST Counsil may take call on GoM reports on online gaming, casions and horseracing
Digital payments in India touch Rs 38.3 trn at over 23 bn transactions
The Unified Payments Interface (UPI), debit and credit cards, prepaid payment instruments like mobile wallets, and prepaid cards logged 23.06 bn transactions amounting Rs 38.3 trn in the third quarter
Finance Minister to DRI sleuths: Go after the big fish in drug trafficking cases
She urged the enforcement agency to ink agreements with global agencies for intelligence sharing
EU to share experience in designing and implementing Digital Markets Act
Sugar output set to drop 7%, could crimp exports
Lower sugar exports from India, also the world's second biggest exporter, could lift global prices and allow rivals Brazil and Thailand to increase their shipments.
Airtel, Meta to strengthen India's digital ecosystem
NEW DELHI : Bharti Airtel and Meta (formerly Facebook) on Monday announced a significant partnership in a bid to boost the development of India's digital ecosystem. As part of its continued efforts to strengthen the nation's infrastructure, Airtel collaborates with Meta and STC (Saudi Telecom Company) to introduce 2Africa Pearls to India. The longest underwater cable system in the world, 2Africa, is anticipated to give over 3 billion people worldwide faster internet service. Commenting on the development, Vani Venkatesh, CEO, Global Business, Bharti Airtel said :- With our contributions to the 2Africa cable and Open RAN, we are investing in significnat and progressive connectivity infrastructure which is required to sustain the increasing demand for high-speed data in India. We look forward to working closely with Meta to deliver best-in-class digital experiences to our customers across India, In order to meet the nation's expanding needs for consumers and businesses, both businesses will jointly invest in global connectivity infrastructure and new-age digital solutions based on the CPaaS (Communications Platform as a Service) model. In a statement, Francisco Varela, vice president of mobile partnerships for Meta, said, We look forward to extending our relationship with Airtel to further enhance the region's connectivity infrastructure that will provide a better network experience for individuals and businesses across India. The entity said that it will integrate Meta's WhatsApp within its CPaaS platform. With this integration, companies will be able to take advantage of WhatsApp's vast feature set and user base to offer businesses unmatched omnichannel consumer engagement. LIC increases stake in 3 Adani Group Entities What does Adani's partial takeover of NDTV mean? World's largest cargo Airbus Beluga lands at Hyderabad airport
ICICI Lombard, AU Small Finance Bank announce bancassurance tie-up
ICICI Lombards entire suite of products will be offered across 980+ banking touchpoints spread over 20 states and two union territories.
Tata Motors may hike car prices from Jan
Tata Motors is looking to increase passenger vehicle prices from next month in order to make its model range compliant with stricter emission norms which kick in from April 1 next year, according to a top company official. In an interaction with PTI, Tata Motors Managing Director - Passenger Vehicle and Electric Vehicles Shailesh Chandra said the price revision would also offset the impact of commodity prices, which have remained high for the most part of the year. The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year, Chandra said.
5,000mAh battery, Snapdragon 8 Gen 2 & 6.7-inch AMOLED display: Top Features on iQoo 11 Series
For those planning to upgrade their smartphones, the all-new iQoo 11 series can be a viable option. The smartphone packs a powerful 5000 mAh battery and a triple-rear camera module headlined by a 50MP sensor. And, there's more.
Crude shipments from US on the rise
Crude oil shipments from the US to India rose to the highest levels in November since the conflict began in Ukraine in late February, sparking hopes of a resurgence in oil flows from the US to the subcontinent, reveals shipping data. Shipments from the US have surged as Western nations prepare to impose additional sanctions on Russian crude flows. The US shipped around 450,000 barrels per day of crude last month to India, twice that of shipments in October, according to data from London-based commodity intelligence provider Vortexa.
ZS PRIZE | Sandeep Singhal on opportunities for innovation in the Indian healthtech sector
A-I to lease 12 aircraft - both A320 neo and Boeing 777
Air India on Monday said it will lease 12 more aircraft comprising both A320 neo and Boeing 777, which are expected to be inducted in its existing fleet in the first half of 2023. The new planes will be deployed on the airline's short, medium and long-haul international routes, Air India said in a statement. Air India said it has leased 42 aircraft since its privatisation in January this year.
4 key facts that lenders will not tell you about your next education loan
One of the most crucial financial tasks that one should never ignore is saving for your child's future as soon as conceivable.
Govt warns pensioners about fake Jeevan Pramaan site
The ZS PRIZE tech challenge is conducted in multiple phases, starting from registration and submission of ideas by participants, followed by evaluation of submissions by healthcare industry experts and shortlisting of the most innovative ideas.
How to encash your discontinued National Savings Certificates (IX Issue)?
After the decision was authorised and made public on December 1, 2015, the Department of Posts (DoP), which is under the direction of the Ministry of Communications, discontinued issuing National Savings Certificates (IX Issue) on December 20, 2015.
CEPA advantage: Global shipping lines introduce services between India, UAE
This is in anticipation of increased trade volume between the two major trading partners
Housing affordability in Mumbai to slip in 2023, Kolkata remains most affordable
Kolkata, with a value of 192 (a value of more than 100 implies that an average household has more than enough income to qualify for the home loan) is still on track to remain the most affordable residential market in the country among the top seven cities, while Pune (183) and Hyderabad (174) will follow.
Korea wants to assist Vietnam in upgrading its economy
Seoul: Vietnam's foreign minister said on Monday that the country's biggest investor is in a good position to provide crucial support for Hanoi to join the global supply chain. Vietnam welcomes and encourages Korean businesses to set up new operations or develop existing ones there. We hope to receive assistance from the Republic of Korea for Korean corporations to join the global value chain, Minister Bui Thanh Son said in an interview with The Korea Herald on Monday. Son stressed the importance of Seoul, citing the influence of tech giants such as Samsung Electronics, the world's biggest memory chip maker, on international trade. Also read: Oil prices rose after the Russia price cap pact, with world shares mixed Son's comments came hours before the summit between the presidents of the two countries. Vietnam's Nguyen Xuan Phuc and South Korea's President Yoon Suk-yeol meet in Seoul to celebrate 30 years of their diplomatic ties. A similar summit was last held eleven years ago. According to Son, the pillar and main driving force of the relationship is economic cooperation. According to the most recent data from Korea, Hanoi and Seoul are each other's third largest trading partner as of last year. And amid growing US-China technological rivalry, Vietnaman important link to Southeast Asia for countries like Korea seeking deeper engagement with the regionis being recognized more and more as a distinct destination for sourcing. According to Son, Both sides should promote supply chain cooperation and guarantee economic security as well as supply chain resilience. Son suggested that to do this, the two countries should set up collaborative research and development centers to work on the latest technologies. Also read: India's G20 Presidency helps strengthen global economy: Google CEO Son further said that this collaborative effort should be used to build green infrastructure such as smart cities and green industrial parks, which rely on technology to use energy more effectively while having less negative impact on the environment. depend. About 300 Korean and Vietnamese businessmen are expected to gather in Seoul on Tuesday, the final day of Phuc's three-day visit, for a forum to discuss, among other things, building smart electricity grids and nuclear reactors in Vietnam. The Korea International Trade Association, the Vietnam Chamber of Commerce and Industry, and Herald Corp will co-host a similar conference next week in Hanoi. The gathering will be large, with participants exchanging ideas for the future as well as business proposals. The Korea Herald deserves praise for putting together the Vietnam-Korea Economic Forum. The two countries are enjoying an excellent relationship, especially in terms of economic, trade and investment cooperation, Son said, highlighting the fact that Hanoi is an economic hub that crosses Northeast Asia and Southeast Asia. does. It is a very favorable time for Korean businesses to promote their trade and investment in Vietnam. According to Son, the 15 free trade agreements that Vietnam has signed so far, including the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), reflect Hanoi's desire for economic clout and Shows dedication to cooperation. with all parties. The RCEP, which alone covers about a third of the global population, is essentially a China-backed alternative to the US-led CPTPP. Son continued by saying that Vietnam's economy has demonstrated its ability to maintain or at least sustain overall economic stability, including managing inflation, which has been a drag on the world economy over the past year. Has happened. In the first nine months of 2022, Vietnam's GDP is expected to grow by 8.83 percent, Son stressed. The Korea International Trade Association, one of five trade lobby groups in the country, predicts the Vietnamese economy will grow 7% this year, much higher than the 3.2% growth forecast for China, Korea's biggest trading partner. Son proposed what he believed would be a path that would be equally beneficial to both economies, noting that Vietnam had much to learn in rebuilding its economy in the face of growing supply chain problems and Korea is one of the world leaders in innovation. Also read: China's central bank: US dollar has peaked as the Fed considers a rate slowdown The focus should be on sectors and services that support innovation and sustainable development. The success of Korean businesses is indeed the success of Vietnam.
L&T gets order in Mumbai-Ahmedabad bullet train project
The company said the project assigned by the National High-Speed Rail Corporation includes commissioning of a depot spread over around 82 hectares in Gujarat. The worth of the order has yet not been revealed by the firm. According to the project classification of the company, a large project falls in the range of Rs 2,500 crore to Rs 5,000 crore.
Oil prices rose after the Russia price cap pact, with world shares mixed
United States: World stocks were mixed and oil prices rose after the European Union and the Group of Seven democracies decided to boycott the majority of Russian oil and agreed a $60 per barrel price cap on Russian exports. The CAC 40 in Paris fell 0.2% to 6,728.57 and the DAX in Germany fell 0.3% to 14,490.99. In Britain the FTSE 100 rose 0.1% to 7,562.40. S&P 500 futures declined 0.4%, while Dow futures lost 0.3%. A barrel of US benchmark crude rose 55 cents to $80.53 a barrel, in electronic trading on the New York Mercantile Exchange. It fell by $1.24 to $79.98 a barrel on Friday. Also Read: What to Watch out for from RBI MPC's upcoming meet Brent crude rose 56 cents to $86.13 a barrel on Monday after Western countries imposed a $60-a-barrel price cap and imposed sanctions on some types of Russian oil. The two sanctions measures may have resulted in an unknown amount of Russian oil being removed from the market, reducing supply and driving up prices. Turkey, the world's second-biggest oil producer, was able to redirect the majority, but not all, of its previous European shipments to customers in China and India. The Saudi-led OPEC oil cartel and its allies, which include Russia, decided on Sunday not to change their plans to supply oil to the world economy. The OPEC+ alliance decided in November to cut production by 2 million barrels per day; This deduction is still in effect. Also Read: World will see the power of 'Indian toys', Modi govt will help Hong Kong's benchmark rose 4.5% to 19,518.29 during Asian trade. The Shanghai Composite rose 1.8% to reach 3,211.81. Market participants claim manufacturing and trade disruptions will ease as Chinese authorities ease some of the toughest rules imposed to control the coronavirus outbreak, while pursuing their zero-covid strategy, which aims to kill every infected person. Is to separate, still in progress. place. Restrictions include lockdowns of certain areas or structures, routine testing requirements and the closure of factories and other businesses. Shanghai and Beijing, among other Chinese cities, recently experienced several days of protests as anger over COVID-19 restrictions reached a boiling point. In an extraordinary display of public disapproval in a society where the ruling Communist Party exercises near total control, some people called for Chinese President Xi Jinping to resign. The Kospi fell 0.6% to 2,419.32 in Seoul, while the Nikkei 225 rose 0.2% to 27,820.40 in Tokyo. The S&P/ASX 200 rose 0.3% to 7,325.60 in Sydney. Mumbai shares declined, but increased in Singapore and Taiwan. Thailand's markets remained closed due to the holiday. A report showing accelerating US wages prompted investors to worry about inflation, leading to a mixed stock performance on Wall Street on Friday. It rekindled concerns that the Federal Reserve may not be able to scale back its key interest rate hikes as expected. The Dow Industrial gained 0.1% while the S&P 500 declined 0.1%. The Nasdaq's overall index declined 0.2%. Since the beginning of the month, stocks have been rallying on hopes that inflation may peak. This allows the Federal Reserve to reduce rate increases with the aim of reducing inflation by slowing the economy and lowering the price of stocks and other investments. But according to a labor market report released Friday, workers' wages increased by 5.1% last month compared to a year earlier. That's an increase from the 4.9% gain in October and easily exceeds economists' predictions for a recession. Last month, American businesses added 263,000 new jobs. More than 200,000 were forecast by economists, and the unemployment rate remained unchanged at 3.7%. With a higher percentage of people either not working or looking for work than before the pandemic, many Americans are also outright unemployed, which could put more pressure on employers to raise wages. Also Read: Watch: Top 10 fastest-growing major state economies of India The US economy will enter a recession next year, according to a growing number of economists, primarily as a result of higher interest rates. In foreign exchange, the dollar fell to 135.31 yen from 134.39 Japanese yen late on Friday. The euro rose from $1.0540 to $1.0553.
India records over 23 bn digital payments
India logged 23.06 billion digital transactions worth Rs 38.3 lakh crore in the third quarter of FY23, stated a report on Monday. These digital transactions include payment done by Unified Payments Interface (UPI), debit and credit cards, prepaid payment instruments like mobile wallets, and prepaid cards.The UPI related transactions clocked over 19.65 billion transactions in volume and Rs 32.5 lakh crore in terms of value.The UPI transactions volume and value almost doubled since last year as it recorded about an 88 per cent increase in volume and over 71 per cent increase in value in Q3 as compared to the same quarter last year, reported IANS citing Worldline India's 'Digital Payments Report' for the third quarter.The top three UPI apps in terms of volume and value were PhonePe, Google Pay and Paytm Payments Bank App.The top five remitter Banks were State Bank of India, HDFC Bank, Bank of Baroda, Union Bank, and ICICI Bank, whereas the top 5 beneficiary banks were Paytm Payments Bank, YES Bank, State Bank of India, Axis Bank, and ICICI Bank.UPI person-to-merchant (P2M) and person-to-person (P2P) emerged as the most chosen payment method among consumers, accounting for 42 per cent of total transaction volume.This was followed by credit and debit card payments, which accounted for 7 per cent of volume and 14 per cent of value.The swift adoption of digital payments can be witnessed with each passing quarter. Popular payment instruments like UPI, cards, PPIs are already clocking over 23 billion transactions in a quarter, said Ramesh Narasimhan, CEO, India, Worldline.Q3 data indicates healthy usage of credit cards and growth in the average ticket size.For credit cards, it is Rs 4,833; for debit cards, it is Rs 2,073; for UPI P2M, it is Rs 738; for UPI, P2P it is 2,576; for prepaid cards, it is 473; and for M-wallet, it is Rs 382.The total transaction between credit cards and debit cards comes to around 65 per cent and the remaining 35 per cent has been shared between UPI P2P, UPI P2M, and prepaid cards, the report showed.As of September 2022, the overall number of POS terminals installed by merchant-acquiring banks had surpassed 7 million.In Q3 2022, POS deployment increased by more than 41 per cent reaching 7.03 million, when compared to the same quarter of the previous year.In the online space, e-commerce (shopping for goods and services), gaming, utility and financial services contributed to over 86 per cent of the transaction in terms of volume and 47 per cent in terms of value.By the end of the third quarter, there were 1.01 billion credit and debit cards in circulation.Credit card volume and value were 725 million and Rs 3.5 lakh crore in Q3 2022, respectively.In the third quarter of 2022, the volume and value of debit card transactions were 907 million and Rs 1.88 lakh crore, respectively, the report said.At least 58.78 million FASTags have been issued till September, with 36 banks.(With inputs from IANS)
Airbus Beluga, one of the worlds largest cargo airplanes, lands at Hyderabad airport
The Airbus Beluga is known for its ability to transport oversized air cargo
Go First, EaseMyTrip ink pact to tap Saudi Arabian market
EaseMyTrip to open office representing the Go First in Dammam and Riyadh catering to the larger travel markets
Why is consumer satisfaction everything? Ashok Singh Jaunapuria gets candid
The name Ashok Singh Jaunapuria is taken with great admiration in the realm of real estate! And why not? No doubt that he built structures with a touch of modernism, but his ideology to deliver the best to his clients has made him a respected name. Is consumer satisfaction that important? If you believe what Ashok Singh Jaunapuria has to say, giving clients the best is the ultimate goal of every company. Sharing his stance on why consumer satisfaction is everything, the real estate developer says, We make products and offer services to whom? The consumer! Standing on their expectations is the bare minimum we can do. Ashok Singh Jaunapuria further adds, When it comes to real estate, they put their firm belief in us. They trust us with their dream homes and all the money; we cannot sabotage them. If a customer is disappointed, it is we who are not being valued. So, the first and foremost thing we should do is make our consumers happy by delivering the best quality of service or product. It's been almost two decades since Ashok Singh Jaunapuria has been in this field. And for all these years, he has always considered his customers the king. When asked what assures him, he says, I take pride in it. I know consumer satisfaction is important as it is a reflection of my company's performance. Ashok Singh Jaunapuria is a man who gave back to the people what they needed, which is why a horde of people consider him an inspiration. He is the managing director and CEO of SS Group, which has powerfully played the real estate game, especially within the boundaries of Gurugram. He is associated with projects like The Hibiscus, SS Plaza, Southend, Aaron Ville, The Lilac, etc. Even for his future work, Ashok Singh Jaunapuria has multiple projects, but since the client's satisfaction is everything, he is paying detailed attention to one project at a time. Philippines and Saudi Arabia will collaborate on developing tourism The world economy needs to begin preparing for low inflation. Want to grow your business? Here's how Djordje Novakovic can help you do it
The Greatest Of All Time: Peles Golden Moments On The Field
Pele , the greatest footballer of all time, was part of the three World Cup victories for Brazil. Here are some golden moments from the illustrious career of the iconic footballer.
Digital Personal Data Protection Bill 2022 and its implications
NEW DELHI : The key industry stakeholders presided by industry body Nasscom, during a meeting with IT Minister Ashwini Vaishnaw, have highlighted that the draft Digital Personal Data Protection Bill 2022 will strengthen India's narrative as a trusted global partner for all invested in digital transformation. In the meeting, also chaired by Alkesh Kumar Sharma, Secretary MeitY, along with startups and small & medium enterprises (SMEs), given their primary feedback and suggestions on the bill to the IT Minister last week. Vaishnaw said that once the PDP Bill is finalised, the government will make sure the strategy focuses on enhancing data protection without interfering with data flows. According to a statement released by Nasscom on Monday, the industry believed such a framework should be clear, proportionate, and enabling. The framework was created in conjunction with government agencies, sectoral regulators, and public consultations. Industry praised the retention of futuristic ideas, such as the consent manager, to let citizens manage their consent in an efficient manner. The IT minister said, the PDP Bill will be created to address criticisms and concerns about data protection in a way that makes the system usable and effective for all social classes. Vaishnaw advised the industry players, A smart option for startups and technology providers to contribute their feedback will be to test the Bill against their unique use-cases to find holes, if any, and submit suggestions appropriately. Centre to bring Data Protection Bill in 2023 Budget session DGCA, IndiGo colloborating for Digital e-logbook for pilots Mukesh Ambani's wise words to follow: No greater 'G' than Mata ji, Pita ji
Indias hiring activity grows 27 per cent in Nov
China Plus One: Why India has an edge over others
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
EPF claim rejected many times? EPFO announces relief
Many young adults reported higher levels of stress and anxiety, claims report.
SBI PSU Fund tops equity returns charts in 2022
Adani Green commissions 450 MW wind-solar hybrid power plant in Rajasthan
Adani Green Energy's new hybrid power plant, consisting of 420 MW solar and 105 MW wind plants, has been implemented with cutting edge technology. With this hybrid plant, Adani Green now has the largest operational hybrid power generation capacity of 1,440 MW.
Aggregate Technical and Commercial losses of DISCOMs decline significantly says Power Ministry
According to the Ministry of Power, aggregate Technical and Commercial Loss (AT&C Loss) and ACS-ARR Gap are key indicators of DISCOM performance. In the last 2 years, the AT&C loss of the DISCOMs of the country was hovering at 21-22%. Ministry of Power instituted a number of measures to improve the performance of utilities. Preliminary analysis of data for FY2022 of 56 DISCOMs contributing to more than 96% of input energy, indicates that the AT&C losses of DISCOMs have declined significantly to ~17% in FY2022 from ~22% in FY2021.
Air India now flying more on metro-to-metro routes
Tata Group-owned Air India, under its new chief executive officer and managing director Campbell Wilson, is optimising its domestic strategy under which the carrier is densifying its presence on metro-to-metro routes and exiting from unviable ones, Business Standard has learnt. Wilson took charge on July 25. Air India has increased its flights on metro-to-metro routes such as Delhi-Mumbai, Delhi-Bengaluru, Mumbai-Chennai, Mumbai-Bengaluru, and Hyderabad-Mumbai between June and November this year.
What to Watch out for from RBI MPC's upcoming meet
CHENNAI : Economic experts anticipate the RBI Monetary Policy Committee to hike the repo rate by 25-35 basis points with industry lobby body ASSOCHAM also calling for the RBI to do the same. It will also be interesting to see whether there will be unanimity amongst the members of the MPC on the decisions taken at the ensuing meeting. Following the MPC meeting, RBI Governor Shaktikanta Das is anticipated to discuss the letter the bank sent to the federal government outlining the causes of the inflation issue and the efforts being taken to address it. On November 3, the MPC convened to examine what it would convey to the central government regarding the reasons why it was unable to control inflation. According to Section 45ZN of the RBI Act, when the central bank misses the inflation target, it must send a report to the central government outlining the reasons why, the corrective actions it proposes to take, and an estimation of the time frame in which the inflation target will be met following prompt implementation of the suggested corrective actions. Despite the law's prohibition, the abovementioned MPC meeting's proceedings have not been made public. According to section 45ZK, the RBI is required to publish the decision made by the MPC following each meeting. Also, in accordance with Section 45ZL of the RBI Act, the minutes of every MPC meeting must be published on the 14th day following each meeting. These minutes must include the following: the resolution adopted at the MPC meeting; the vote of each MPC member on resolutions adopted in the said meeting; and each MPC member's statement pursuant to Subsection (11) of Section 45ZL on the resolutions adopted in the said meeting. The RBI has hiked the repo rate by 190 bps from 4% to 5.90%. Now MPC will take into account the GDP growth estimates, the foodgrain production estimates, inflation projection, global economic activity and other factors. The RBI will be presenting the monetary policy against the backdrop of GDP growth slowing down and also inflation being high above 6%, Madan Sabnavis, Chief Economist, Bank of Baroda said. RBI's MPC likely hike policy rate by 25-35 bps: Experts E-Rupee to be launched from Dec 1, will work even without internet RBI to unveil the first pilot project of retail digital Rupee on Dec 1
India's EV revolution could bear fruit by 2030, survey shows
A private consumer expectation survey on Monday showed that around 66% of Indians said that electric vehicles will surpass petrol and diesel cars by 2030. The survey also showed that a majority of Indian consumers, around 57%, want to invest in EVs because of their practical benefits while 56% want to purchase an EV because it is good for the environment
Freebies: Parties may have to declare funding
Flamboyant and stylish, Shikhar Dhawan has had an interesting innings since his ODI debut against Australia in October 2010. Gabbar, as he is known in the dressing room, seamlessly filled the opener void triggered by the absence of Sachin Tendulkar and Virender Sehwag. On his 37th birthday, heres a look at his cricketing highs.
Oil Price: G7 begins to press Russia on Ukraine
India Forex Reserves Rise To $550 Billion
India's foreign exchange reserves rose for the third straight week, to $550.14 billion in the week through November 25, according to Reserve Bank of India's (RBI) weekly statistical supplement showed on Friday. The foreign exchange reserves for the week ended November 18 stood at $547.25 billion. Foreign currency assets rose by $3 billion to $487.29 billion for the week ending November 25 according to the Weekly Statistical Supplement released by the RBI. It was at $484.29 billion for the week ending November 18. However, gold reserves fell by $73 million to $39.94 billion.
The actress shot to fame for her performance in the Netflix horror film 'Bulbbul'.
Adani's Rs 20K Crore FPO Is Not A Record
Adani Enterprises' proposed Rs 20,000 crore (Rs 200 billion) fundraising via fresh issue of equity shares through a public offer would be the fourth biggest by Indian companies, excluding banks and non-banking financial companies.
Geopolitical rivalries are changing trade games
Prince Harry casts web of surprises in new video
'The City of Joy' author Dominique Lapierre passes away at 91
He was honoured with the Padma Bhushan award in 2008.
Becoming 'the next China' won't save India from 2023 economic slowdown
'It's hard to see 2023 as a great year for the urban middle-class as global tech-industry layoffs affect jobs and capital availability for startups. Rural demand is anyway sluggish'