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Finance : This guide explains why senior travellers should review travel insurance coverage, organise medical records, and plan ahead before...
Finance : The article explains how local Indian phone numbers enhance credibility and accessibility for international businesses. It highlig...
Finance : The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. I...
Finance : The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that ba...
Finance : mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, ...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Finance : The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, ...
Finance : The IFSCA clarified that retrocession and retention requirements apply to the entire gross reinsurance premium of IFSC Insurance O...
Finance : The authority observed that except life insurance, other insurance segments under IFSCA regulations align with the statutory defin...
Finance : The Ministry of Finance clarified that claims regarding monetisation of temple gold holdings or issuance of gold bonds to temples ...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Finance : The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from co...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : IFSCA clarified that a common brand name by itself is sufficient to establish a Group Entity relationship under the ship leasing f...
Finance : IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporati...
Finance : IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aim...
Finance : IFSCA has warned regulated entities that advanced AI models can accelerate cyberattacks by rapidly identifying and exploiting vuln...
Finance : The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations und...
The Central Bureau of Investigation (CBI) on Monday arrested sacked Commonwealth Games (CWG) Organizing Committee chairman Suresh Kalmadi in connection with his role in the AM Films and TSR scams. The arrest order was carried out after the CBI had questioned Kalmadi extensively on the two incidents, particularly on the documents relating to the two deals.
The Supreme Court has stated that a Lok Adalat cannot pass an order to pay the insurance money when there was no compromise between the parties, in the case, Life Insurance Corporation vs Suresh Kumar. Lok Adalat cannot take over the function of the regular courts. In this case, the Lok Adalat tried to arrive at a compromise between the parties, but failed.
As many as 57 Indian companies including Reliance Industries , State Bank of India and Oil & Natural Gas Corp. figure in The Forbes Global 2000 list of public companies based on their rankings for sales, profits, assets and market value. Reliance with sales of $45.3 bn is ranked 121st in the list with three public State Bank of India Group (136, $29.1 bn), Oil & Natural Gas Corp. (172, 22.6 bn) and Indian Oil (243, $52.1 bn) taking the next three places among the Indian firms.
Many NGOs and whistleblowers have complained to authorities that Indian money worth several thousands crore was illegally routed to many tax havens and urged government to take strict measures to put a bar on it. Finance Ministry admits it has “no authentic figures” about the quantum of black money deposited in Swiss banks. It is stated that efforts have been made from time to time to seek details of the bank accounts held by Indians in Swiss Confederation under the existing Double Taxation Avoidance Agreement (DTAA) between India and Switzerland .
In the recent times, XBRL has emerged as a novel way of electronic communication of financial and business data which is revolutionizing business reporting around the world. Considering the benefits attached with implementing XBRL in the preparation, analysis and communication of business information, the regulators in India have also decided to implement XBRL in their reporting.
Buyer’s credit is the credit availed by an Importer (Buyer) from overseas Lenders i.e. Banks and Financial Institutions for payment of his Imports on due date. The overseas Banks usually lend the Importer (Buyer) based on the Letter of credit (a Bank Guarantee) issued by the Importers (Buyer’s) Bank. In fact the Importers Bank brokers between the Importer and the Overseas lender for arranging buyers credit by issuing its Letter of Comfort for a fee. Buyers credit helps local importers access to cheaper foreign funds close to LIBOR rates as against local sources of funding which are costly compared to LIBOR rates.
Boston – An Indian investment banker has been convicted by a US federal jury on charges of extortion and threatening a New York state comptroller official to reveal an extramarital affair if a multi-million dollar pension contract was not awarded in his favour – in short, blackmail.
A Delhi court on Wednesday dismissed the bail pleas of five corporate executives, who were named as accused by the CBI in the 2G spectrum allocation scam but were not arrested. “All the bail applications have been rejected,” Special CBI Judge O P Saini said. With the rejection of their bail pleas, they were likely to be remanded in judicial custody.
The Supreme Court today banned the employment of children in circuses and directed the government to rescue children employed in the sector and formulate a rehabilitation programme for them. A bench headed by Justice Dalveer Bhandari said that in order to protect the fundamental rights of children, it is imperative that the government issues notification to prohibit employment of children in this sector.
In a significant order, the Bombay High Court has held that the Union Government cannot ban exports of any product with retrospective effect, while allowing a private company to go ahead with exports of milk powder. It also said that such restriction cannot be applied to concluded contracts where letters of credit were opened prior to the imposition of the ban.
