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Aviva India fined $7.5 million by Income Tax authorities for fake invoice scheme
After hearing Aviva's defence, joint tax commissioner Aditya Singh...
India to form Deregulation Commission: PM Modi
Prime Minister Narendra Modi "It is my conviction that there should...
Govt mulling changes in I-T laws to bring cryptos under tax net
New Delhi: The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the budget next year, a top official said. Revenue secretary Tarun Bajaj said in terms of income tax, some people...
China fines tech giants Alibaba, Baidu for failing to report 43 old deals
In December last year, it fined Alibaba, Tencent-backed China Literature and Shenzhen Hive Box 500,000 yuan each for not reporting past deals properly for antitrust reviews, the first time it had ever done so. BEIJING: China's market regulator on Saturday said it was...
PM Modi to inaugurate IFSCA’s InFinity Forum on December 3
IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs) in India. New Delhi; Prime Minister Narendra Modi will inaugurate the 'InFinity...
RBI recommends strict data protection in digital lending
The committee recommended that data collection should happen only with prior and explicit consent of the borrowers. "The thrust of the report has been on enhancing customer protection and making the digital lending ecosystem safe and sound while encouraging...
RBI may launch digital currency pilot next year
MUMBAI: The Reserve Bank of India's digital currency may see its pilot launch in the first quarter of the next fiscal year, a senior central bank officer said at the State Bank of India's Banking and Economic Conclave as reported by a local newspaper. "I think...
Modi urges global cooperation to make cryptocurrencies safe
Prime Minister Narendra Modi . Prime Minister Narendra Modi India's digital currency market was worth $6.6 billion in May 2021, compared with $923 million in April 2020, according to blockchain data platform Chainalysis. MUMBAI: Indian Prime Minister Narendra Modi...
IRDA rejects 2nd broking license of India Infoline Group
The IRDAI has rejected 5Paisa Insurance Brokers(owned by India Infoline Group(IIG) ), application for an insurance broking license, as IIFL Insurance Brokers,another company owned IIG, has already got a license and one group under the existing regulations can’t be...
India could bar transactions in crypto, permit holding as assets
India's Prime Minister Narendra Modi last week chaired a meeting to discuss the future of cryptocurrencies amid concerns that unregulated crypto markets could become avenues for money laundering and terror financing, sources had said on Saturday. MUMBAI: India is...
Singapore to support development of iLS in Asia Pacific:FINANCE MINISTER Wong
Lawrence Wong ,minister for finance and deputy chairman of Monetary Authority of Singapore ``We have also introduced a grant scheme to reduce issuance costs. Over the past 3 years, 18 ILS have been issued in Singapore. These cover a range of natural catastrophes...
US auto safety regulators looks into complaints on Tesla autonomous vehicle
The inquiry is another sign that NHTSA is becoming more aggressive in watching autonomous and partially automated driving systems under President Joe Biden. In the past the agency has been reluctant to regulate the systems, saying that it didn't want to delay...