BUSINESS
UPI processes record 7.3 billion transactions in October
"UPI has been a game changer in real-time payments and is the most preferred choice of payment. UPI platform recorded 6.8 billion transactions in September 2022 and the festive month gave further boost with transactions reaching 7.3 billion in October," said Sanjeev Chandak, Co-founder and CEO of fintech platform ftcash.
CBDT condones delay in filing of Form 10A
As per the provisions of the act, Form 10A was required to be filed electronically by June 30, 2021. However the deadline was extended to August 31, 2021, and then to March 31, 2022. The extensions were given in view of the representations received by the CBDT and with a view to avoid genuine hardship to taxpayers.
Tata Sons Chairman responds to Nitin Gadkari letter, assures evaluating new investment opportunities
"I have gone through the information in your letter about the various business opportunities in Nagpur for the Tata Group. I have also noted the availability of both SEZ and non SEZ land in areas which are well connected via road, rail and airways," said the Nitin Gadkari's written letter on October 19.
IDBI Bank declared former directors of Amtek Auto Ltd 'fraud', CBI to SC
The CBI, in an affidavit, said it has approached 19 banks/financial institutions, out of which IDBI Bank, Bank of Maharashtra, PNB, SBI and IFCI Ltd. have responded to its query furnishing the status of declaration of the account as fraud and regarding filing of complaints with the CBI in case the account is declared as fraud.
Wheels India Q2 net down at Rs 15.14 crore
Managing Director Srivats Ram also said the company is deferring some of the earlier planned capex and cutting down the inventory level to manage the interest burden. "The Reserve Bank of India (RBI) has been raising the interest rate s (repo rate) which in turn has increased our finance cost. There is pressure on the margins though steel prices went up. The working capital was also higher," Ram told reporters here.
Global Health Ltd's IPO to open up on Thursday, price band Rs 319-336 per equity share
The price band of the offer has been fixed at Rs 319 to 336 per equity share of face value Rs 2 each. The bids can be made for a minimum of 44 equity shares and in multiples of 44 equity shares thereafter, Medanta Chairman Dr Naresh Trehan said at a media briefing on Tuesday.
Games24x7 Ventures' launched to invest in early-stage start-ups
"With over 100 unicorns, India has the 3rd largest digital-first start-up ecosystem behind the US and China. We believe that we are very well positioned to support early-stage companies beyond just capital," Trivikraman Thampy, Co-Founder, and Co-CEO, Games24x7 said in a statement.
China rebooting Mao-era institution to prepare for decoupling from global economy
Heralding a major step away from the market-oriented economic policies of the last 40 years, the 20th Chinese Communist Party Congress earlier this month saw the elevation of Liang Huiling, who heads a state-run system of 'supply and marketing cooperatives', to the party's Central Committee, amid other signs that leader Xi Jinping is steering the country away from market economics and closer to a state-dominated economy, RFA reported.
Committed to transparency, cooperating with govt authorities: MG Motor India
According to Bloomberg, "the probe against the local unit of the Chinese carmaker SAIC Motor has been initiated by India's Ministry of Corporate Affairs". "The company's top management, including directors, managing director and auditors have been summoneda by the ministry seeking more clarification, the people said," according to the report.
'India to ensure short term finance to poor nations as G20 president'
Addressing the ICRIER's 14th annual international G20 conference, Nageswaran said that ensuring short term financial support to low income nations would be one of India's priority areas.Providing climate financing to such nations would be another area of priority for India, Nageswaran said.
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