It’s important to note that PAN 2.0 has more robust mechanisms to weed out duplicate PANs. (AI image) PAN 2.0: Do you have multiple PAN Cards? The Cabinet Committee on Economic Affairs (CCEA) has recently given its green signal to the Income Tax Department’s PAN 2.0 initiative. This programme aims to modernise and digitise the…
What was RBI’s policy rationale for keeping the repo rate unchanged? RBI MPC meeting: The Reserve Bank of India’s Monetary Policy Committee (MPC) on Friday decided to keep the key repo rate unchanged at 6.5% by a 4:2 majority. The decision to keep the repo rate at status quo comes at a time when the…
The immediate outlook appears optimistic whilst the levels remain higher than 24,300. (AI image) Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened flat in trade on Friday ahead of the RBI monetary policy. While BSE Sensex was in green, Nifty50 was marginally down. At 9:16 AM, BSE Sensex was trading…
ATMs are equipped with a mechanism that automatically retrieves unattended currency notes. (AI image) ATM cash retraction new rules: The Reserve Bank of India has now partly reversed its January 2012 directive that had mandated disabling of cash retraction in ATMs. The original decision was taken to prevent fraudulent activities at ATMs.ATMs are equipped with…
Putin commended PM Narendra Modi’s national-centric approach and the “Make in India” programme. Russia willing to set up manufacturing operations in India? At the VTB Investment Forum in Moscow, the Russian president Vladimir Putin drew parallels between Russia’s import substitution programme and India’s “Make in India” initiative. He indicated Russia’s readiness to establish manufacturing units…
IIT placements: An increasing number of organisations are providing attractive packages for India-based positions. (AI image) IIT graduates get high-paying offers! The premier technology institutions of India, IITs, are witnessing an increase in domestic jobs offering substantial salary packages from various companies aiming to attract exceptional candidates.However, fresh engineering graduates in the IT sector typically…
PAN Card serves as both a tax identifier and physical identity proof. PAN 2.0: With the Modi government announcing a comprehensive upgrade of the PAN infrastructure, taxpayers are wondering whether PAN 2.0 with enhanced QR code will be similar to m-Aadhaar or e-Aadhaar systems. Will PAN 2.0 feature dynamic QR codes for KYC, identity verification…
NEW DELHI: Engineering exporters have cautioned against imposition of safeguard duty on steel, arguing that it will increase prices in the domestic market and make exports uncompetitive. Steel makers are lobbying hard for protection from imports, arguing that cheap imports from Asean nations, which have a free trade agreement, are hurting the domestic players. Arguing…
MUMBAI: Climate risks have started to impact the financial system and could pose systemic problems in future, according to RBI. Besides damage to assets, risks include business disruption, increase in loan losses, and transition risks arising from the shift to a low-carbon economy, which create uncertainty for firms and investors.Speaking at a conference organised by…
NPS operates through a two-tier structure. The Tier-I Account functions as the principal retirement savings vehicle. (AI image) The National Pension System or the NPS is gaining recognition as a popular retirement-focused investment option. Financial experts highlight that NPS combines essential features of an ideal retirement savings product, offering extended investment opportunities with cost-effective management…
