India's UPI system, despite its global success, faces backlash as small vendors receive GST notices based on digital transaction data. This has led to a shift back to cash transactions, with vendors fearing tax scrutiny. Concerns rise that aggressive formalisation efforts may push the informal economy further underground, undermining the goals of financial inclusion and transparency. By all official accounts, India's digital payments revolution is a runaway success. The Unified Payments Interfa...Read More
Gandhinagar (Gujarat) [India], August 1 (ANI): The national-level 'Pradhan Mantri Kisan Utsav Diwas' will be held tomorrow in Varanasi, Uttar Pradesh, in the presence of Prime Minister Narendra Modi. During the event, the Prime Minister will interact with and address farmers across the nation and release the 20th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. In line with this, the state-level 'Pradhan Mantri Kisan Utsav Diwas' program will be held tomorrow, August 02, i...Read More
Bengaluru: Delhivery said it brought more than half of Ecom Express's volumes onto its platform after the acquisition received regulatory approval in June. It shifted all client contracts to what it described as "rational pricing." "The irrational pricing that existed in the market has been cleaned out, at least out of what was the erstwhile Ecom Express network," Sahil Barua, CEO, Delhivery said during the investor call on Friday. Delhivery bought Ecom Express for Rs 1,369 crore this year. "Cli...Read More
NEW DELHI: With due diligence for the sale of govt stake in IDBI Bank completed, Centre is all set to invite financial bids during the Dec quarter as it expects to shortlist the final bidder by the end of the financial year, a top official said Friday."The data room process is complete for all interested parties and formal consultations with all qualified interested parties have been completed. We are hoping to complete the selection of the winning bidder by the end of the financial year," said ...Read More
New Delhi: Goods and services tax (GST) collections rose 7.5% to Rs 1,95,735 crore in July, showing signs of a pick-up from the previous month, although the growth was slower than a year ago.According to the latest official numbers, collections from domestic sources in July, based on transactions in June, were 6.7% higher at a little over Rs 1.4 lakh crore. Those from imports were better, rising 9.7% to Rs 52,712 crore. In recent months, the domestic source has been weak, which is also visible i...Read More
New Delhi: Delhi govt has prepared a plan under which Delhi Transport Corporation (DTC) bus drivers and conductors will receive regular training, with a focus on ethical values, customer service and safe driving, transport minister Pankaj Singh said on Friday. The move is for improving the public image of DTC buses.The minister mentioned that DTC bus drivers who fail to halt at designated stops or are found speeding will face strict departmental action.Several commuters have complained about the...Read More
Hyderabad: Fast food giant McDonald's has rustled up plans to invest $100 million (about Rs 875 crore) in its new global office in Hyderabad over the next couple of years and hire around 2,000 techies by 2027, a top executive said on Friday. "The investment this year and next (2026) will be around $100 million, including the capex cost," Deshant Kaila, head of global business services (GBS) operations, McDonald's, told TOI on the sidelines of the GCC X Hyderabad summit....Read More
NEW DELHI: On a day when US notified additional levies for countries, with 25% imposed on Indian exports, govt hardened its position asserting that farm and dairy products, genetically modified food, beef and animal feed with meat are no-go areas.Without being confrontational, govt sources made it clear that cultural sensitivities and farmers' interest will be paramount in talks with the US and indicated India's willingness to move ahead with talks, with the next round scheduled to begin on Aug ...Read More
MUMBAI: Payment aggregators are feeling the pinch as ICICI Bank has now started charging them for processing purchases made using UPI,Fintechs that route transactions through the bank must now factor in new charges, intensifying the debate on the long-term viability of free digital payments. Payment aggregators with escrow accounts at ICICI will be charged two paise per Rs 100 processed, capped at Rs 6 per transaction. Those without such accounts will pay double - with a Rs 10 cap. Merchants who...Read More
Chandigarh: The UT cyber cell busted a major online fraud racket, arresting 10 persons from Meerut, Ludhiana, and Amritsar for duping an elderly woman of Rs 1 crore. However, they managed to freeze only Rs 36 lakh of the defrauded amount, which will be returned to the victim after court proceedings.The accused used SIM boxes - telecom devices sourced from China - to convert VoIP calls into local mobile calls, masking their international origin. These operations were remotely controlled by handle...Read More
Bhubaneswar (Odisha) [India], August 2 (ANI): Odisha is set to host the prestigious World Athletics Continental Tour Bronze competition for the first time at the Kalinga Stadium in Bhubaneswar on August 10. Odisha Sports Minister Suryabanshi Suraj on Friday reviewed the ongoing preparations at the venue. Hosting the World Athletics Continental Tour Bronze in Odisha for the first time is a matter of immense pride. We are fully prepared to organise it successfully, the minister said during the r...Read More
Washington DC [US], August 2 (ANI): The new Indian Consular Application Centres (ICACs) are located in Boston, Columbus, Dallas, Detroit, Edison, Orlando, Raleigh, and San Jose, bringing the total number to 16 nationwide. A 17th centre is planned to open in Los Angeles later this month. The expansion, announced jointly by the Indian Mission and VFS Global, aims to make essential services more accessible to Indian Americans and other applicants seeking India-related documentation. The centres w...Read More
Hyderabad: Deputy chief minister Mallu Bhatti Vikramarka announced that the entire 4,000 MW Yadadri Thermal Power Plant (YTPP) would be dedicated to the nation in Jan 2026. Of the total 4,000 MW, the deputy chief minister dedicated the first unit of 800 MW of the thermal power plant on Friday and termed it as a milestone in meeting the energy needs of the state. Vikramarka said the plant construction got delayed by two years and the project cost escalated due to delays in getting environmental c...Read More
New Delhi [India], August 2 (ANI): Delhi Transport Minister Pankaj Kumar Singh said that the government will soon begin a comprehensive training initiative for Delhi Transport Corporation (DTC) drivers and conductors, with a focus on ethical conduct, customer service, and road safety. According to a press release issued by the office of the Transport Minister, the initiative aims to improve DTC public image and raise operational standards across the network. Dr Singh stated that the Delhi Tran...Read More
Amritsar (Punjab) [India], August 2 (ANI): Counter-Intelligence (CI), Amritsar, has busted a cross-border illegal arms smuggling module with alleged links to Pakistan and arrested five operatives, recovering six sophisticated pistols from their possession, Punjab Director General of Police (DGP) Gaurav Yadav said on Friday. According to a statement issued by the Department of Information and Public Relations, Punjab, those arrested have been identified as Jagroop Singh of Dhun (Tarn Taran), Nav...Read More
New Delhi [India], August 2 (ANI): Karnataka Chief Minister Siddaramaiah on Friday said that the United States' decision to impose a 25 per cent tariff, along with an additional penalty on India for importing oil from Russia, would affect not just the nation but also the individual states. 'It will impact the state also, and the whole country at large. I will discuss this issue with the concerned Minister,' the Chief Minister told reporters. Karnataka Minister Priyank Kharge expressed concern ...Read More
Indore (Madhya Pradesh): In a significant move to bolster road safety, all petrol pumps in Indore have been strictly instructed to refuse fuel to two-wheeler riders not wearing helmets. The enforcement, in accordance with Supreme Court guidelines, caused confusion and commotion at several fuel stations across the city on Thursday. According to district administration orders, the new rule will remain in force until September 29, 2025, and violators may face action under IPC Section 223. Emergen...Read More
NEW DELHI: Expressing serious concern over the deleterious impact of addictive betting applications on youth, the Supreme Court on Friday asked the Centre to respond in two weeks what steps it is contemplating to save youngsters from getting financially ruined, often forcing them to commit suicide. A bench of Justices Surya Kant and Joymalya Bagchi asked the counsel for Centre to specify in its affidavit "what remedial measures it is contemplating after applying mind to the gravity of the issue"...Read More
New Delhi [India], August 1 (ANI): India on Friday launched the first set of four development projects under the 'India-UN Global Capacity Building Initiative,' aimed at supporting countries of the Global South in meeting Sustainable Development Goals (SDGs), as per MEA. The projects were officially launched by the Secretary (West) in the Ministry of External Affairs, Tanmaya Lal, at a ceremony attended by Heads of Missions of participating countries, UN Resident Coordinator in India Shombi Sha...Read More
ITANAGAR, 1 Aug: Deputy Chief Minister Chowna Mein on Friday announced enhanced financial support for the Donyi-Polo Mission School for the Hearing and Visually Impaired [DPMSHVI). Mein announced that the school's annual grant-in-aid will be increased from Rs 1.4 crore to Rs 2 crore. In addition, Rs 5 crore corpus fund will be allocated to the school to ensure its long-term sustainability. Mein said that he would incorporate both the commitments in the upcoming annual state budget for the next...Read More
New Delhi [India], August 2 (ANI): India has launched the first phase of four projects in nine partner countries for achieving the Sustainable Development Goals (SDGs) under the aegis of the India-UN Global Capacity Building Initiative. The details were shared by the Ministry of External Affairs on Friday. As per the MEA, the projects will focus on key areas including food security, health, vocational training, and census preparedness. In a post on social media platform X, MEA stated, 'Foster...Read More
Vijayawada: Andhra Pradesh's net GST collections have crossed Rs 2,930 crore for July with gross collections of Rs 3,803 crore -- the highest ever in July since the GST system was rolled out in 2017. In the last four months from April, AP recorded the highest-ever gross and net GST collections compared with the same months the previous financial years. Chief commissioner of state tax, A Babu, said in a statement here on Friday that the net GST collections increased by 12.2 per cent in July thi...Read More
New Delhi [India], August 2 (ANI): Karnataka Chief Minister Siddaramaiah on Friday said that the United States decision to impose a 25 per cent tariff, along with an additional penalty on India for importing oil from Russia, would affect not just the nation but also the individual states. It will impact the state also, and the whole country at large. I will discuss this issue with the concerned Minister, the Chief Minister told reporters. Karnataka Minister Priyank Kharge expressed concern ove...Read More
Lucknow: The Enforcement Directorate (ED), in its ongoing investigation into Chhangur Baba's syndicate, has uncovered financial irregularities amounting to Rs 63 crore, a significant portion of which allegedly originated from foreign sources and was used to fund alleged forced religious conversions, land purchases and construction activities.The ED said funds were funnelled through 22 bank accounts belonging to Chhangur and his aides. Major credits were received in the accounts of his associates...Read More
Observing that the situation in Himachal Pradesh has gone from bad to worse, the apex court said climate change is having a "visible and alarming impact" on the state. "We want to impress upon the state government and Union of India that earning revenue is not everything. Revenue cannot be earned at the cost of environment and ecology," a bench of Justices J B Pardiwala and R Mahadevan said. "If things proceed the way they are as on date, the day is not far when the entire state of HP may vani...Read More
Back in April, Trump had announced tariffs of up to 27% on Indian goods, which was later paused. Since then, both sides have been racing to negotiate an agreement, with officials sometimes sounding positive and at other times, measured. "We continue to speak with our Indian counterparts. We've always had very constructive discussions with them," US Trade Representative Jamieson Greer said earlier this week. He also acknowledged that although he had earlier said a deal with India might be "imm...Read More
BHUBANESWAR: In a significant move poised to reshape Odisha's digital economy, the state government on Thursday announced the launch of the Integrated Global Financial Technology Capability Hub (I-GFTCH) in the city. Being set up in collaboration with Singapore-based Global Finance and Technology Network (GFTN) and the Asian Institute of Digital Finance (AIDF) at the National University of Singapore (NUS), this first-of-its-kind FinTech capability centre will make over 7,000 graduates job-ready...Read More
The gang preyed on tourists and devotees who unknowingly booked rooms through fake websites ShowQuick Read Summary is AI-generated, newsroom-reviewed * Bapatla police arrested a Rajasthan gang for creating fake tourism and temple booking websites * The gang defrauded victims of nearly Rs 50 lakh across 18 Indian states * 127 complaints were filed, including 49 related to fake Haritha Resorts websites Did our AI summary help? Let us know. Switch To Beeps Mode Hyderabad: The Bapatla dist...Read More
The money laundering case is against a Bhubaneswar located company named Biswal Tradelink and its directors. The ED case, filed under the Prevention of Money Laundering Act (PMLA), stems from a November, 2024 FIR of the Delhi Police Economic Offences Wing (EOW). The ED, the sources said, conducted searches at three premises of the company on Friday at Bhubaneswar and one "associate" entity in Kolkata. Agency sources alleged that the company was engaged in the activity of issuance of "fake" ba...Read More
Indian real estate developers are strategically reducing debt and favoring equity, leading to healthier balance sheets. Colliers reports a significant drop in high debt-to-equity ratios among top firms. This shift boosts profitability, with many firms exceeding 10% net profit margins. Increased financial health attracts banks and equity investors, evidenced by substantial IPO fundraising since 2021. Property developers are sharpening their focus on deleveraging, creating healthy balance sheets,...Read More