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Draft DPDP rules moot parental consent for processing children’s data
E-commerce, social media and gaming platforms will fall under the...
Centre on alert over respiratory, seasonal influenza cases amid Covid-like HMPV outbreak in China
The National Centre for Disease Control (NCDC) under the Union...
IFSCA in process of setting up International Arbitration Centre in GIFT IFSC
”In a financial centre, speedy dispute resolution is very critical. We are making some headway (in that direction) and are close to setting up an International Arbitration Centre in the GIFT IFSC,” Srinivas said.
PAN-Aadhaar linkage deadline extended till March 2022
“Time limit for intimation of Aadhaar number to the Income tax Department for linking of PAN with Aadhaar has been extended from 30th September, 2021 to 31st March, 2022,” it said.
National Asset Reconstruction Company to acquire stressed assets of about Rs 2 lakh crore in phases
Explaining the benefits that banks will get from this new structure, the Finance Ministry said the new structure will incentivize quicker action on resolving stressed assets thereby helping in better value realization.
World Bank discontinues business climate report after ethics review
In a statement, the World Bank said that after the irregularities raised ethical matters involving former bank staff and board officials, the development lender will work on a new approach to assessing countries’ business and investment climates.
Sold electric scooters worth over Rs 600 cr in a day: Ola co-founder
Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours. However, the company has not disclosed how many orders it has received so far.
Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu with an investment of Rs 2,400 crore.
The company had stated that it would initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase.
Fresh cyclonic circulation to bring heavy rainfall over east India from Sep 18-19
”A cyclonic circulation (is) likely to develop over north Bay of Bengal on September 17. It is likely to move west-northwestwards towards Odisha-West Bengal coast during the subsequent three days,” the IMD said.
”Rainfall activity is likely to increase over Odisha and Gangetic West Bengal with fairly widespread to widespread rainfall and isolated heavy falls over above areas on September 18-19,” it added.
Earlier this week, a deep depression brought heavy rainfall over Odisha and Chhattisgarh.
GST Council to meet on Friday; rate review, tax concession to 11 COVID drugs on cards
The Council, comprising central and state finance ministers, will deliberate on the proposal of extending the existing concessional tax rate structure on Amphotericin B, Tocilizumab, Remdesivir, and anti-coagulants like Heparin, till December 31, 2021, from the present September 30.
Tax rate on Amphotericin B, Tocilizumab was cut to ‘Nil’, while Remdesivir and Heparin were reduced to 5 percent in June 2021.
The Council on Friday may also discuss the proposal of reducing GST from 12 percent to 5 percent to seven more drugs till December 31, 2021. These are Itolizumab, Posaconazole, Infliximab, Bamlanivimab & Etesevimab, Casirivimab & Imdevimab, 2-Deoxy-D-Glucose, and Favipiravir.
Govt guarantee of Rs 30,600 cr to NARCL for acquiring stressed assets: FM
”It will incentivise quicker action on resolving stressed assets thereby helping in better value realization. India Debt Resolution Company Limited (IDRCL) will engage market expertise for value enhancement. This approach will also permit freeing up of personnel in banks to focus on increasing business and credit growth,” Finance Minister Nirmala Sitharaman said.
As the holders of these stressed assets and SRs, banks will receive the gains and the guarantee will also enhance liquidity of SRs as such these instruments are tradable, she added.
India records 27,176 fresh cases of COVID-19, 284 deaths
The cumulative doses administered in the country so far under the nationwide vaccination drive has reached 75.89 crore according to the ministry.
Household debt may have declined to 34% in Q1 FY22: SBI report
In absolute numbers, the household debt has increased to Rs 75 lakh crore in the first quarter of FY22 from Rs 73.59 lakh crore in FY21, it said.
It said the recently released India Debt & Investment Survey (AIDIS) report for 2018 showed an increase in the average amount of debt among rural as well as urban households between 2012 and 2018.
The average amount of debt increased by 84 per cent and 42 per cent, respectively, for rural and urban households for the six-year period ended 2018, the SBI research report said.