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Man Arrested for Posting a Meme against CM of Ranchi

5Apr By Lavina TolaniNo Comments

INDIA

Man Arrested for Posting a Meme against CM of Ranchi

Sabarpreet Singh, a young entrepreneur and founder of e-commerce website "Made in Ranchi" has been arrested after posting a meme targeted on Chief Minister of Ranchi, Raghubeer Das that has received tremendous criticism both online and offline. He has been convicted on charges of impersonation, forgery, defamation among others for provoking a campaign for freedom on social media platforms such as Facebook and Twitter. "Made in Ranchi" is an entertainment website that covers and creates stories, events and news around Ranchi popular on social media platforms. While, this is not the first time we have seen a meme go viral targeting CM or political leaders, yet it is the first incident that has led to the creator being arrested to set an example for others. The man posted a meme t...

I-T Dept Issues Notice to Deepak Kochhar over Videocon Loan Case

4Apr By Lavina TolaniNo Comments

INDIA

I-T Dept Issues Notice to Deepak Kochhar over Videocon Loan Case

The ICICI-Videocon Loan Row case has already blazed too much attention and adding to it, now the Income Tax Department has issued a notice to Deepak Kochhar, husband of Chanda Kochhar, CEO, and MD at ICICI Bank. Issued under I-T Act, section-131, Deepak has been asked to submit all details relating to his personal expenses, Income tax returns and his business transactions with NuPower Renewables. Section-131 of I.T act deals with issues relating to production and discovery of evidence wherein income tax officials can ask for account books and statements. Indian tax officials will seek information from its Mauritian counterpart regarding investments made in entities and the person behind those entities under the amended tax treaty. As per inside sources, a bank official said that F...

“Risky” Tyre Killers in Pune Removed After Police Notice

4Apr By Lavina TolaniNo Comments

INDIA

“Risky” Tyre Killers in Pune Removed After Police Notice

Pune police sent a legal notice to "Amanora Township" in Hadaspur to remove the "Tyre Killers" traffic arresting system that was installed near the Amanora Pearson School to deter vehicles in using the wrong side of the road. Recently, a video showing vehicles moving across the tyre killer had gone viral over the social media after which police authorities came into action. As per the notice issued by Pune Police, the traffic alerting system was installed in the township without permission. "The iron made tyre killers have reduced public security. It can endanger lives of people by leading to a serious accident.", stated the letter issued by Hadaspur traffic division. JD Kalaskar, traffic police inspector at Pune division reported to a publication, The spikes are very sharp and c...

DIPP Cancels Certification of Companies Posing as “Startups”

3Apr By Lavina TolaniNo Comments

INDIA

DIPP Cancels Certification of Companies Posing as “Startups”

Department of Industrial Policy & Promotion (DIPP) has put an end to some certifications and issued warnings to organizations seeking to avail exemptions by categorizing themselves as "startups". In a recent meeting of Inter-Ministerial Group on Startups held on March 15, certificates of recognition and that of eligibility given to two entities- Riot Solutions and JVS Flow Control PC were revoked on account of failing to give a report on whether they were subsidiaries of some companies or working as individual organizations. A government official reported, "These organizations were sent queries by IMG a few months back but have not responded yet. Hence, IMG has revoked certifications issued to them. It should serve as a warning to others." IMG has come to know that certain fir...

7 Income Tax Changes to Take Effect From April 1, 2018

2Apr By Lavina TolaniNo Comments

INDIA

7 Income Tax Changes to Take Effect From April 1, 2018

While we have already begun with our new financial year, there is a lot to look forward in the coming months. Finance Minister, Mr. Arun Jaitley did very less for taxpayers or middle-class salaried employees in Union Budget 2018, yet there are a few tax proposals that are going to significantly affect your earnings and lifestyle in the upcoming year. Herein, we will focus on 10 such tax rules that you should take keynote for the financial year 2019 which will come into effect from April 1, 2018. Standard Deduction Gets Re-introduced Coming as a much-needed relief to the salaried class, a standard deduction of Rs. 40,000 for medical expenses and transport allowance has been provided.While the net benefit will reduce down to Rs. 5,800, the pensioners too will be eligible to avail...

IRCTC to Launch its Own Payement Gateway Soon

30Mar By Lavina TolaniNo Comments

INDIA

IRCTC to Launch its Own Payement Gateway Soon

Indian Railway Catering and Tourism Corp. (IRCTC), a subsidiary of Indian Railways is all set to launch its very own payment gateway service targeted at gaining more revenue and reducing its dependency on third-party payment service providers, as reported by two people involved in the matter. IRCTC, which currently is the largest consumer internet firm in terms of revenue and sells about 1.2 million tickets a month, is soon heading with its own payment gateway which is being called "i-pay" internally, as confirmed from people who spoke on the promise of anonymity. "I-pay" is ongoing its testing phase and will be rolled out soon to add to the list of many payment gateways that currently facilitate online transactions on its platform. Once successfully launched, IRCTC in-house payment ...

IIM-A raises 2-year PG program fees at Rs. 22 Lakhs

29Mar By Lavina TolaniNo Comments

INDIA

IIM-A raises 2-year PG program fees at Rs. 22 Lakhs

The Indian Institute of Management, Ahemdabad (IIM-A) has reportedly raised the fees of its post graduate programme for year 2018-2010 from 21 lakh to Rs. 22 lakh, third time in a row. Mr. Erol D'souza, its chief director delivered the information at IIM-A's 53rd convocation that took place on 24, March, 2018 at Louis Khan Plaza, IIM-A Campus, Ahemdabad. While the last year fees hike involved a 7.7% increase from Rs.19.5 lakhs to Rs. 21 lakh, this year it has moved up to Rs. 22 lakhs. While addressing the media, Mr. D'souza said, The IIM-A Board met and decided to increase the fee structure.Just like every year, the fee will rise. In order to keep in line with the inflation, the fee rise will take place by 5 percent.For PGP( post graduate programs), the new fee will be Rs. 22 lakh a...

28Mar By NitishNo Comments

INDIA

E-commerce Platform to Support Tribal People Launched in India

Indian government launched an e-commerce portal to support tribes in India. The tribal ministry launched the portal www.tribesindia.com and an android app "Tribes India". The website looks good and shows the handcrafted products in segments like fashion, bags etc. Indian Tribal Affairs Minister Jual Oram also launched the Tribes India banner on India's leading e-commerce portals Snapdeal, Amazon, Paytm for the marketing of tribal products. The project was launched under TRIFED programme with having more than 55000 tribal artists showcasing their products online. TRIBES India organization will start marketing tribal handicrafts product on e-commerce portals namely, Amazon, Flipkart etc. This move will be a game-changing strategy for tribal people in India. The organization ha...

27Mar By PriyankaNo Comments

INDIA

These Tweets Reveal How “India’s Two Leading Parties” Data Can be Easily Hack

CleverTap, a five-year-old US-based startup founded by three Indians is facing the heat after a pseudonymous researcher alleged that Indian PM Modi's Namo app was disclosing private information like name, email, mobile number, device information, and location, to servers controlled by the firm without the user's consent. The hacker & researcher known as Elliot Alderson on twitter, in a series of tweets, pointed the privacy lapses in the NaMO App and alleged that mobile marketing platform CleverTap was the beneficiary of the data transfer. Tweet 1- 1/ In this request, the @narendramodi's #Android #application sends silently and without the user's consent, his IP address and a unique identifier of his phone. This personal data is sent to the website https://t.co/XTWhe9kc5T whic...

26Mar By Sheldan RungasamyNo Comments

INDIA

Indian Market Regulator Sebi will revise rules for Startup Angel Funding

Market Regulator, Securities and Exchange Board of India (Sebi) is planning to increase the maximum investment for angel funds to INR 10 crore while it was previously limited to INR 5 crore. India is going through a rapid change phase, especially concerning startups and funding. Angels investments are growing ever higher every passing week and the new regulation of the market will thereby provide additional opportunities to angel funds, according to regulatory officials. On the other hand, the minimum investment by an angel investor will remain INR 25 lakh. The regulatory board would also like divide by two the minimum corpus size required for an angel fund to register with it as it currently stands at Rs5 crore. Another measure the Sebi is looking forward to update concerns the maxi...

24Mar By Sheldan RungasamyNo Comments

INDIA

Raghuram Rajan Believes India Should Focus on Industry & Services

Raghuram Rajam, Former Governor of Reserve Bank of India stated on Friday that the country should encourage its workforce to step out of the agricultural sector to move into the industry and services as the latter will provide the population with higher income. "We have to try and give people the ability to move out of agriculture into industry and services, where income is much higher. We need to figure out ways to do this," Rajan said here. He added that the populace should not be afraid of machines replacing humans because society has always found ways of adapting to industrialization and mechanization which worked well in the past. "Two hundred years since the industrial revolution, jobs are still around. People and society adapt to do the things that machines cannot do," he s...

Delhi Woman Lost Rs 6.5 Lakhs Worth of Bitcoins From Hackers

22Mar By Sheldan RungasamyNo Comments

INDIA

Delhi Woman Lost Rs 6.5 Lakhs Worth of Bitcoins From Hackers

A woman living in Delhi has apparently lost around Rs 41 lakh from an unidentified hacker. The resident from Mayur Vihar has lodged a theft complaint to the economic offences wing of the Delhi Police. According to reports, the woman first lost bitcoins worth Rs 6.5 lakh to hackers who accessed her bitcoin account. The rest of the amount was lost after she trusted cheats who promised to help her retrieve the lost money. The cyber cell of Delhi Police has reportedly started their investigation into the matter. The woman explained to the police that she made an initial investment to buy 0.4 bitcoin in February 2017, which she did via a firm that promised her returns of 12 percent every month on her investment which she did receive until August in her bank account. In the meantime,...