BUSINESS & ECONOMY

uday kotak

Son of India’s richest banker isn’t in the running to lead Kotak Mahindra Bank

Jay Kotak, son of founder Uday Kotak who has led the business since establishing it in 1985, is not a contender for the role, according to KVS Manian, the firm’s whole-time director. The billionaire will transition from his chief executive position by the end of next year, after central bank guidelines capped tenures for Indian …

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Old Pension Scheme Big statement: Government will implement Old Pension Scheme! Finance Minister’s statement on the money deposited in NPS

Finance Minister Nirmala Sitharaman said that the money deposited in the National Pension Scheme (NPS) belongs to the persons contributing to it. State governments cannot take it under the law. Talking to the media, Sitharaman said in response to questions related to the restoration of the old pension system, that the Rajasthan and Chhattisgarh governments …

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11,000 job cuts: Mark Zuckerberg’s Message to Meta Employees

Mark Zuckerberg just shared the following with Meta employees: Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We are also taking a number of additional steps to …

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Google Payments Alert: Changes to using your card with Google

We’re reaching out to inform you that Google has deleted your Visa card information to comply with new Reserve Bank of India card storage regulations. Your card details will no longer be available to make payments for Google services. You can still enter your card details to use your Visa card to make payments. When you …

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National Pension System (NPS) Rules Changes

NPS e-NOMINATION PROCESS Upon receiving your application, the nodal officer will now have the authority to accept or reject it. Additionally, if the Nodal Officer fails to act on your application within 30 days, it will be automatically submitted to the Central Recordkeeping Agency (CRA). NO SEPARATE PROPOSAL FORM FOR ANNUITY ON MATURITY: In order …

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QRB Report on Audit Quality Review –

QRB Report on Audit Quality Review – 2021-22 – (02-11-2022) ContentsFrom the Chairperson’s Desk 3Composition of the Board 6Our Approach 7Our Expectations 7How We Select Audit Firms for Review 8How We Conduct Audit Quality Review 9Overall Trend of Audit Engagements ReviewedFY 2012-13 to FY 2021-2211Key Highlights – FY 2021-22 12Summary of Observations 15a) Standards on …

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RBI e-rupee pilot project launched (e-Rupee including SBI, HDFC, ICICI to issue e-rupee)

e-rupee pilot project launched The RBI started the pilot project of digital currency (e-Rupee). This will be regulated by RBI by the Reserve Bank. RBI has selected 9 banks including SBI, HDFC, ICICI to issue e-rupee. Right now it will be used only for Indian ₹ ERVOF wholesale transactions. This will also lead to cross …

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Bank Locker rules change: Big news! RBI has changed bank locker rules, know the new rules

Keeping in mind the safety of the customers, the Reserve Bank has made a big change in the rules of bank locker. If you are also planning to open a locker in any bank or if you already have a locker in any bank, then it is very important for you to know about the …

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Timeline extended for compliance with moisture content for mixed millet flour

FSSAI has drawn reference to the FSS (Food Products Standards and Food Additives) First Amendment Regulations, 2021 notified on 4th March, 2021 prescribing standards for Bajra Flour (Pearl Millet Flour) and Jowar Flour (Sorghum Flour), and the FSS (Food Products Standards and Food Additives) Fifth Amendment Regulations, 2021 notified on 15th Nov, 2021 prescribing standards for Multigrain …

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Prime Minister Modi congratulated Rishi Sunak on becoming the PM of Britain, said- now we will work together

Prime Minister Narendra Modi has congratulated the Prime Minister of Britain, Rishi Sunak. PM Modi said that as soon as you become the PM of the UK, I am looking forward to working together on global issues and implementing Roadmap 2030. Along with this, he also congratulated the Indian people living in Britain on Diwali. …

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Why was Rajiv Gandhi Foundation’s FCRA license cancelled? Understand the law on foreign funding of NGOs

The central government has taken action on the Rajiv Gandhi Foundation (RGF), a non-governmental organization (NGO) associated with the Gandhi family. The certificate granted to RGF under the Foreign Contribution (Regulation) Act (FCRA), 2010 has been cancelled. Now Rajiv Gandhi Foundation will not be able to get any kind of funding from abroad. According to …

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Advertisement printed against Modi government, demand for ban on these 11 including Nirmala Sitharaman

An advertisement has been published against the Modi government in the American newspaper Wall Street Journal. In this advertisement, a ban has been demanded against many officials, judges including Finance Minister Nirmala Sitharaman. This advertisement has been released by the US-based non-governmental organization Frontiers of Freedom. This advertisement was published in the issue of 13 …

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This government bank will become private by March, the Finance Minister has given information, the process has started!

This government bank will become private by March, the Finance Minister has given information

Many steps have been taken by the government to improve the banking system in the country. The government is once again going to privatize another bank (bank privatisation latest news). Let us tell you that the bids for the privatization of IDBI Bank are likely to be invited by March. At the same time, the …

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Union Minister Shri Piyush Goyal interacted with the students at KCG auditorium in Ahmedabad

To engage students in a meaningful way to enhance their skills, provide ample opportunities to pursue their dream projects, a series of programs have recently been launched by the state education department. In which an attempt has been made to connect people who play an important role in the field of education, businessmen, Chamber of …

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Union Minister Dr. Jitendra Singh inaugurates Science Museum at Aspirational District of Chamba in Himachal Pradesh, links it with StartUps; State Chief Minister Shri Jairam Thakur graces the inaugural event

Union Minister for Science and Technology and MoS PMO, Dr Jitendra Singh today inaugurated a Science Museum at Aspirational District of Chamba in Himachal Pradesh in presence of State Chief Minister Shri Jairam Thakur and other dignitaries. Linking it to Start-Ups, Dr Jitendra Singh said, the state-of-art institution in this hilly region will inspire young …

Union Minister Dr. Jitendra Singh inaugurates Science Museum at Aspirational District of Chamba in Himachal Pradesh, links it with StartUps; State Chief Minister Shri Jairam Thakur graces the inaugural event Read More »

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Dr Akhilesh Gupta assumes additional charge of Secretary SERB

Dr Akhilesh Gupta, Senior Adviser at the Department of Science and Technology (DST) assumed additional charge of Secretary of the Science and Engineering Research Board (SERB) on October 8, 2022 after Dr Sandeep Verma relinquished charges as Secretary SERB on completing his tenure on October 7. Dr. Gupta currently heads the Policy Coordination and Programme …

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Directorate of Revenue Intelligence seizes smuggled cocaine worth over ₹502 crore

The Directorate of Revenue Intelligence (DRI) through a statement issued today, 8th October 2022, has stated that it has seized cocaine worth over ₹502 crore which was being imported from South Africa. Based on specific intelligence developed by DRI Mumbai Zonal Unit, a container carrying pears and green apples, being imported from South Africa, was …

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RBI issued new guidelines regarding UPI transactions, check here guideline

According to the recent decision taken by the Reserve Bank of India (RBI), there will be no fee on UPI for transactions up to Rs 2,000 on the use of Rupay Credit Card. Instructions have been given in this regard in the recently issued circular by RBI. Let us tell you that the order of …

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Department for Promotion of Industry and Internal Trade (DPIIT) notifies establishment of Credit Guarantee Scheme for Startups (CGSS)

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified the establishment of the Credit Guarantee Scheme for Startups (CGSS) for providing credit guarantees to loans extended by Scheduled Commercial Banks, Non-Banking Financial Companies and Securities and Exchange Board of India (SEBI) registered Alternative Investment Funds (AIFs).  CGSS is …

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Draft Notification for BH series amendment

The Ministry of Road Transport and Highways (MoRTH) has issued a draft notification G.S.R 672(E)  on 04 Oct 2022 to notify amendments in the rules governing Bharat (BH) series registration mark. MoRTH had introduced BH series registration mark vide G.S.R. 594(E) dated 26 August 2021. Over the course of implementation of these rules, several representations …

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Bureau of Indian Standards signs MoU with Testing, Inspection, Certification Council

Bureau of Indian Standards (BIS), the National Standards Body of India signed an MoU with Testing, Inspection, Certification Council, India. The two organizations will collaborate to promote and harmonise the implementation of standards and quality, safety and sustainability practices in laboratories. The organizations resolved to further work to improve the responsiveness for laboratories and exchange …

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Adani Group promises ₹65,000 cr investments, 40 thousand jobs in Rajasthan

The 2-day “Invest Rajasthan Summit” began at JECC Campus in Jaipur today. Gautam Adani, chairman of the Adani Group, addressed the Inaugural Session of the Invest Rajasthan 2022 Summit. “Adani Group invested over ₹35,000 cr across multiple industrial sector in Rajasthan. Continuing our investment in renewable business, another 10,000 MW with an investment of ₹50,000 cr is …

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Union Minister for Finance & Corporate Affairs inaugurates Western Regional Office of Competition Commission of India (CCI) in Navi Mumbai

Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs inaugurated the Regional Office (West) of Competition Commission of India (CCI) in a virtual event on 6 October 2022. Rao Inderjit Singh, Union Minister of State (Independent Charge) for Statistics & Programme Implementation; Planning and Minister of State, Ministry of Corporate Affairs also graced the …

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Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurates Competition Commission of India’s Regional Office (West) in Mumbai

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, inaugurated the Competition Commission of India’s (CCI) Regional Office (West) in Mumbai, here today in a virtual event. Union Minister of State for Ministry of Corporate Affairs Shri Rao Inderjit Singh also graced the occasion with his presence via video conference. The Regional Office (West) …

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurates Competition Commission of India’s Regional Office (West) in Mumbai Read More »