Thursday, November 21

Tag: government

Indian govt & RBI may Allow use of QR code-based offline Aadhaar
3Dec By Gauri SinghNo Comments
INDIA

Indian govt & RBI may Allow use of QR code-based offline Aadhaar

The Indian government and the Reserve Bank of India (RBI) are in talks to allow use of 'offline Aadhaar' that relies on QR codes. This would replace the biometric eKYC, for opening bank accounts, operating payment wallets and purchasing insurance covers. This particular move is significant as it will also benefit financial technology companies that have been prodding the government to amend the law to make Aadhaar mandatory. It's an option that the Centre has virtually ruled out for the moment. The SC has ruled that Aadhaar-based verification could not be done by private firms. Since the use of offline Aadhaar has to be facilitated by the RBI, the central bank needs to bring out a circular and has held two-three rounds of discussions with UIDAI. The court had ruled that Aadhaar could...
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EVs to Get Upto Rs 1.4 Lakh Subsidy, Petrol Cars to Become Expensive
28Aug By Gauri SinghNo Comments
INDIA

EVs to Get Upto Rs 1.4 Lakh Subsidy, Petrol Cars to Become Expensive

Nowadays, electric vehicles are getting major attraction and therefore, the government has reportedly decided to offer a direct subsidy of around Rs 1.4 lakh for each electric car with an aim to boost sales of the electric vehicles, including cars and two-wheelers and three-wheelers. The particular announcement was made during a meeting of the committee on EVs on 23rd August 2018, which was chaired by Expenditure Secretary AN Jha. Along with this decision, the ministry also decided to increase the allocation of subsidy on e-vehicles from Rs 4,000 crore to Rs 5,000 crore for a period of five years under the second phase of Faster Adoption and Manufacturing of Electric (and Hybrid) vehicles (FAME) scheme. Under the phase 2 of the scheme, the government is looking to see about 8-fold in...
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Government Banks’ Losses Crossed Rs 87,000 This Year
11Jun By Gauri SinghNo Comments
INDIA

Government Banks’ Losses Crossed Rs 87,000 This Year

The fiscal 2017-18 showed losses for the public sector banks crossing a tremendous amount of Rs 87,300 crore, with Punjab National Bank on the top with a fraud contaminated amount of nearly Rs 12,283 crore. Our country consists of over 21 public sector banks and among them, only two banks have shown profitability during the financial year 2017-18, namely Indian Bank and Vijaya Bank.  Indian Bank showed the highest profit of Rs 1,258.99 crore and on the other hand, Vijaya Bank’s profit was Rs 727.02 crore. The Delhi-based Punjab National Bank is losing its balance under a fraud amounting around Rs 14,000 crore, reportedly being carried out by Nirav Modi and associates, and has shown a net loss of Rs 12,282.82 crore in the previous financial year. The bank had posted a profit of Rs 1,3...
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Govt Woos Investors To Tap India’s Agri Sector
4Nov By Press Trust of IndiaNo Comments
INDIA

Govt Woos Investors To Tap India’s Agri Sector

Agriculture Minister Radha Mohan Singh today called upon investors to leverage opportunities in the country's farm, dairy, poultry and fisheries sectors. The government is implementing various schemes to promote these sectors in order to double farmer's income by 2022, he said at the World Food India 2017 event here. "...the world is eager to study and adapt our growth strategy," he was quoted as saying in an official statement. He added that India has moved ahead from a country facing food shortages to becoming a food exporter. Addressed a conference on Fruits & Vegetables, Dairy, Poultry & Fisheries - Leveraging the Diverse India Opportunity at #WorldFoodIndia pic.twitter.com/DycJD2Jbpl — Radha Mohan Singh (@RadhamohanBJP) November 4, 2017 He said there are inve...
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Tata Motors Bags Rs 1120 Crore Order For Procuring Electric Cars To Government
3Oct By AnkitaNo Comments
INDIA

Tata Motors Bags Rs 1120 Crore Order For Procuring Electric Cars To Government

Tata Motors raises Rs 1120 crore order from Energy Efficiency Services Ltd (EESL) for procuring 10,000 electric cars, which will replace diesel and petrol cars used by government and its departments, an effort to cut fuel consumption and reduce pollution. Tata Motors will supply the electric vehicles (EVs) in two phases-- 500 e-cars in the first phase in November 2017 and the remaining 9,500 EVs in the second phase, EESL said in a statement. The bidding around also saw participation from Mahindra & Mahindra (M&M) and Japanese carmaker Nissan. Mahindra & Mahindra, the other contender, can win part of the order if it matches the bid by Tata Motors. "The vehicle will be provided for Rs 11.2 lakh, which will be inclusive of GST and comprehensive 5-year warranty which is 25 p...
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80 Customised Phones with Reliance Jio SIM Cards Given to Top Indian Government Officials
7Sep By Press Trust of IndiaNo Comments
INDIA, News

80 Customised Phones with Reliance Jio SIM Cards Given to Top Indian Government Officials

New Delhi: At least 80 high-end Google Pixel “customised” phones with Reliance Jio SIMs have been given to top bureaucrats on a “trial” basis to ensure secure communication among them, according to a person in the IT ministry. The home ministry had drawn up a list of 100 officials from multiple ministries for the purpose, and 80 of these Google Pixel phones have been handed out so far, the person aware of the matter said. The rest 20 units are in the pipeline, he added. The project is at a ‘pilot’ stage and the sample distribution is for measuring the performance and security of the device. The Google Pixel phones were found to be compliant with the specifications given by the home ministry, and the “customisation” of the 4G phones was undertaken by the Centre for Development of Adva...
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Paytm And PhonePay Asks PM Modi To Make NPCI Neutral Towards Bhim
25Aug By AnkitaNo Comments
News

Paytm And PhonePay Asks PM Modi To Make NPCI Neutral Towards Bhim

An issue of NPCI's premium treatment to BHIM app was brought up by several leading entrepreneurs in the payments sector, including Paytm’s Vijay Shekhar Sharma and PhonePe’s Sameer Nigam, at the NITI Aayog event held last week, reiterating the suggestions made by the Watal Committee. They recommended the Prime Minister and the government to make National Payment Corporation of India (NPCI) a neutral body to ensure a level playing field between banks and pvt tech companies. The issue was  NPCI’s backing of BHIM app and the government outlying nearly Rs 500 crore for cashback and bonus only for this UPI app as per the report by The Economics Times. Around 74.7% of the shareholding of NPCI is held by 10 promoter banks. Last year, NPCI broad-based its shareholding base to 56 banks fro...
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The Advantages of the GST
4Jul By AnkitaNo Comments
ANALYSIS

The Advantages of the GST

The launch of GST has left most businesses in a tight spot. Here are 10 advantages of GST that will uplift your impressions about the biggest tax reform of India since its Independence.   Price Reductions It is advantageous for companies as people will purchase more regularly due to price reductions.   One Time Transaction Transaction will only occur a single time at Revenue Neutral Rate (RNR).This has been settled by both the Central and State Goods and Services Tax departments, (CGST and SGST).   Employment and Exports The Central and State governments will be benefitted by GST as it is set to increase industrial activities, exports and employment opportunities.   Unified Tax GST makes the revenue process less complicated. It will b...
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RTI Revealed How Much Narendra Modi Government Spent Over Skill Development And The Number is Quite Shocking
8Feb By NitishNo Comments
INDIA

RTI Revealed How Much Narendra Modi Government Spent Over Skill Development And The Number is Quite Shocking

Prafful Sarda, very young Pune Based RTI Activist & owner of an Event management company had filed an RTI application with NSDC (National Skill Development Corporation) on following issues: 1) How much money allotted to NSDC in last 2 years 2) How much money spent in last 2 years (Through NSDC) 3) State-wise distribution Details 4) How much money allotted and Spent during 2004-2014 After Formation of Modi Govt, first time NSDC has been allotted with independent ministry, headed by Rajiv Pratap Rudy. As per BJP manifesto, Hon. Prime-minister Narendra Modi kept his word & allotted handsome fund for skill development to support people who are willing to work hard but lack of education they are not able to earn their daily bread & butter. Minister Rajiv Pratap Rud...
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China Tightens Controls on Baidu Search Engine & Others
25Jun By reutersNo Comments
CHINA

China Tightens Controls on Baidu Search Engine & Others

China's internet regulator said on Saturday that search engines should tighten management of paid-for ads in search results, making clear which results are paid for and limiting their numbers. The Chinese government already exercises widespread controls over the internet and has sought to codify that policy in law. Chinese regulators last month imposed limits on the number of lucrative healthcare adverts carried by Baidu Inc following the death of a student who underwent an experimental cancer treatment which he found using China's biggest internet search engine. Wei Zexi, 21, died in April of a rare form of cancer, and the case sparked widespread public anger. The Cyberspace Administration of China said search engines should investigate the "aptitude" of clients offering paid-for ...
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