MUMBAI: UPI’s new merchant fee is intended to recover some of the cost that the payments system has so far absorbed. Dilip Asbe, MD & CEO of NPCI, put the annual cost to the banking system at about Rs 21,000 crore, including Rs 2,000 crore to Rs 3,000 crore for SBI. In a fireside chat…
File photo: N Chandrasekaran Tata Sons has told the Tata Trusts’ chairman Noel Tata that its decision to reappoint N Chandrasekaran as chairman was legally valid and consistent with the company’s internal governance framework, according to two people with direct knowledge of the letter, as cited by Reuters.The letter marks the conglomerate’s first formal response…
There is a certain irony in NSE itself getting listed. The institution that has spent more than three decades providing a platform for companies to raise capital and investors to trade shares became a listed company on Thursday. Because Sebi’s rules do not allow a stock exchange to list on its own platform, NSE made…
The New Delhi-Varanasi service is around 40-50% faster than earlier services on the route. India’s infrastructure expansion has been continuing for several years now, with the fruits of the labour now visible in terms of less travel time between places. Across bridges, tunnels, expressways and railways, projects are replacing long detours, difficult terrain and slower…
An employee whose statutory “wages” are up to Rs 25,000 will now fall within mandatory PF coverage. The government’s decision to increase the provident fund wage ceiling from Rs 15,000 to Rs 25,000 is one of the most significant social security reforms in recent years. The move is expected to expand provident fund, pension and…
The government has decided to advance the payment of salaries, wages and pensions for central government employees. Bank strike from September 28-30: In lieu of the upcoming three-day bank strike from September 28 to September 30, the Finance Ministry has asked all ministries and departments to arrange for the advance payment of September salaries.The salaries…
Macquarie has started coverage of NSE with an Outperform rating and assigned a target price of Rs 1,965. NSE share price today: Shares of National Stock Exchange (NSE) made a subdued debut on Thursday, opening at Rs 1,800 per share on the BSE. The listing price saw a premium of less than 1% over the…
The ITAT Delhi noted that the woman had claimed a foreign tax credit of Rs 23.48 lakh in her ITR. (Image for representative purpose) You are an Indian-origin US citizen and you pay your taxes in America. But a tax demand for your income is raised in India because of an error on your part….
Indian stock markets are likely to open lower on Thursday after oil prices rose sharply in the previous session amid renewed tensions between the US and Iran. GIFT Nifty futures stood at 23,270 points at 8:02 am, IST, signalling a weak start for the Nifty 50. Brent crude traded at $102.53 a barrel, down 0.54%,…
Airtel Money, is preparing for an initial public offering on the London Stock Exchange to raise at least $800 million at an expected valuation of $8 billion to $9 billion. NEW DELHI: Sunil Bharti Mittal’s Airtel Money, a digital financial services platform operating across 13 African markets, has announced its plan to list on the…