MUMBAI: UPI’s new merchant fee is intended to recover some of the cost that the payments system has so far absorbed. Dilip Asbe, MD & CEO of NPCI, put the annual cost to the banking system at about Rs 21,000 crore, including Rs 2,000 crore to Rs 3,000 crore for SBI. In a fireside chat…
NEW DELHI: Govt on Thursday said the merchant discount rate (MDR) on UPI payments should be treated the same way as plastic payments, which are not passed on to consumers and will ask the Indian Bank Association (IBA) to ensure that merchants don’t burden customers once the new regime kicks in next month. Govt is…
MUMBAI: Tata Sons has formally rebuffed Noel Tata’s objections to N Chandrasekaran‘s reappointment as chairman, backing the Sept 17 board decision with legal opinions from three lawyers – senior advocate Sudipto Sarkar, former Chief Justice of India Uday Lalit, and former Supreme Court judge B N Srikrishna. The company said the vote was validly carried…
The woman told the tax authorities that the property was bought as an investment for future security. (Image for representative purpose only) What if you use your proceeds from long-term capital gains to buy a property owned by your spouse? Is that tax avoidance? In one such case a woman bought her husband’s property from…
File photo: N Chandrasekaran Tata Sons has told the Tata Trusts’ chairman Noel Tata that its decision to reappoint N Chandrasekaran as chairman was legally valid and consistent with the company’s internal governance framework, according to two people with direct knowledge of the letter, as cited by Reuters.The letter marks the conglomerate’s first formal response…
In 2015, the homebuyer decided to purchase two flats being offered by a Mumbai-based builder. Delayed possession of homes can cause grievances to homebuyers. But, what if the builder inserts clauses of deductions if you cancel the booking and ask for a refund?In one such case the Maharashtra Real Estate Appellate Tribunal (MahREAT), Mumbai, has…
There is a certain irony in NSE itself getting listed. The institution that has spent more than three decades providing a platform for companies to raise capital and investors to trade shares became a listed company on Thursday. Because Sebi’s rules do not allow a stock exchange to list on its own platform, NSE made…
The New Delhi-Varanasi service is around 40-50% faster than earlier services on the route. India’s infrastructure expansion has been continuing for several years now, with the fruits of the labour now visible in terms of less travel time between places. Across bridges, tunnels, expressways and railways, projects are replacing long detours, difficult terrain and slower…
An employee whose statutory “wages” are up to Rs 25,000 will now fall within mandatory PF coverage. The government’s decision to increase the provident fund wage ceiling from Rs 15,000 to Rs 25,000 is one of the most significant social security reforms in recent years. The move is expected to expand provident fund, pension and…
The selloff was not limited to large-cap stocks. The Nifty Midcap 100 and Nifty Smallcap 100 indices each fell. Stock market crash today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, tanked in trade on Thursday on weak global cues and a sharp rise in US yields.The stock market came under heavy selling pressure,…
