Beyond Financial News

National Anti-Profiteering Authority (NAA). The anti-profiteering provisions under the GST law makes it is mandatory for suppliers of goods and services to pass on the benefit of any reduction in the rate of tax, or the benefit of input tax credit, to recipients by way of commensurate reduction in prices. A Bench led by Chief Justice DY Chandrachud issued notice to the Finance ministry, the National Anti-profiteering Authority, its Director General, the Central Board of Indirect Taxes and Customs, and the GST Council on an appeal by Excel Rasayan alleging that the provisions are «manifestly arbitrary and violative of Article 14 of the Constitution of India» as they do not provide any methodology or objective parameters for computation of profiteering. The provisions do not define «commensurate benefit,» which is imperative for determining profiteering, said the petitioner.

In the coming months, Bitcoin is set to undergo a significant event known as “halving,” which will reduce the reward for Bitcoin miners who successfully complete a block.

Another solid day on Friday for indexes with the Russell 2000 (IWM) building up some nice momentum, but other indexes did not disappoint.

Sanjiv Puri, CMD, ITC, says the Indian economy and even rural India has been very resilient. The infrastructure that has been created, the connectivity, focus on housing and digitisation, the direct benefit transfer and stuff like free food grain distribution are some of the very important steps taken in terms of the investment in the rural economy and that is why it is quite resilient. Puri further says: “We have a core portfolio which, given the growing consumption in India and the opportunity for penetration, the opportunity for per capita consumption is huge, we are saying that we need to scale that up, use that to address adjacencies and also build categories of the future. Some of them start scaling them, some of them incubate them.” Do you think India can sustain 7% growth? Sanjiv Puri: Yes, this is eminently possible. That is the kind of number we should be aiming for at the minimum. You see, growing at 7% which is what is the estimate for the year and beyond this year, at a time when the whole world is struggling, when the global growth is the least in a long period, global trade is significantly lower than what it used to be at that time itself, we are growing at 7%.

Investing.com-- Most Asian currencies moved in a tight range on Monday as market holiday across most of the region kept trading volumes limited, while the dollar fell slightly before key inflation data due this week. 

₹7 trillion worth of bad debt in five years between 2019 and 2023 in the absence of resolution. Joshi said banks will be asked to move NCLT first, even if they are talking to borrowers for a one-time settlement (OTS), which often delays NCLT filings and admission. Also, sometimes bankers do not submit all the required information in their insolvency application, delaying admission.

life insurance companies met with the chairman and members of the Insurance Regulatory and Development Authority of India (Irdai) recently, to express their concerns over a proposed change in the guidelines to calculate the surrender value of prematurely terminated policies. Industry representatives said the changes as proposed could deal a «killer blow» to the sector. Any higher surrender value would lead to a fall in the persistency ratio — which indicates the proportion of policyholders regularly paying premiums — that has been just about 50% for more than five years, they claimed. During the meeting with the regulator, they flagged the potential detrimental effects of the proposed policy on persistency, the chief executive of a company said on the condition of anonymity. «The proposed hike in surrender values could lead to higher lapsation of insurance policies, thereby lower profitability,» he said.

Fintech firm One97 Communications, which owns the Paytm brand, has received support from merchants, and it assured them of continuity of services without any disruption, the company said in a blog on Sunday.The blog post came amid the recent crisis around Paytm Payments Bank Limited (PPBL), an associate company of Paytm, which has been barred by the RBI from accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29.Withdrawal or utilisation of balances by its customers from their accounts, including savings bank accounts, current accounts, prepaid instruments, FASTags, and National Common Mobility Cards, are to be permitted without any restrictions up to their available balance.

My passion for exploration led me to Lakshadweep, a hidden jewel in the Arabian Sea. Beyond the turquoise waters and coral reefs, I sought to delve into the sentiments of the locals regarding the recent surge in tourism, a consequence of Prime Minister Narendra Modi’s emphasis on development in this tranquil haven.

A generation ago, one popular song implored workers to tell their bosses to “Take This Job and Shove It.” Judging from how many Americans are choosing retirement, millions are taking that advice.

A significant proportion of Americans who have gone through a divorce attribute their separation to credit card debt and hidden financial activities, according to a new survey.

What Now? With Trevor Noah, Bill Gates shared the 1997 incident, when he read about children dying in various parts of the world due to diseases, curable in the US, and that's the moment he realized what he wanted to do beyond Microsoft. “I had a long period from about age 18 to 40 where I was very monomaniacal... Microsoft was everything," a Moneycontrol report quoted him as saying.

ALSO READ: What comes under India's Free Movement Regime with Myanmar and why was it scrapped? Top points Myanmar has been gripped by chaos since the military seized power from an elected government in a 2021 coup. Since October, the Tatmadaw, as the military is known, has suffered personnel losses while battling a coordinated offensive by an alliance of three ethnic minority insurgent groups, as well as allied pro-democracy fighters who have taken up arms against the junta.

urban pollution and congestion problem, said JoeBen Bevirt, founder of Joby Aviation. Speaking here on Saturday, he said the company is looking to launch in India after it launches commercial operation in 2025. Joby Aviation is a California-based aviation company, developing an electric vertical takeoff and landing (eVTOL) aircraft that it intends to operate as an air taxi service. Besides many other venture-backed funds, the company has raised a $590-million-funding round, led by Toyota Motor Corporation.

India should go beyond achieving the desired level of per capita income and be 'atmanirbhar' in all aspects, Principal Secretary to the Prime Minister PK Mishra said on Saturday. Speaking at the 56th annual conference of the Odisha Economic Association at Sambalpur, he also stressed on sustainable growth while achieving high growth trajectory to become a developed nation by 2047. «High growth that is not sustainable will not be meaningful,» Mishra said. «India should go beyond achieving the desired level of per capita income and be 'atmanirbhar' (self-reliant) in all aspects. Women will be leading India's development story, the economy will be more inclusive and innovative, and corruption, casteism and communalism will have no place in our national life,» he said. Mishra said that the G20 Presidency led by India was recognised globally for its unprecedented scale and success, emphasising the adoption of new concepts for a sustainable and better future.

₹27 crore deal. Ravalgaon Sugar Farm, which owns brands such as Mango Mood, Coffee Break, Tutty Fruity, Paan Pasand, Choco Cream and Supreme, has sold its trademarks, recipes, all intellectual property rights to Reliance Consumer Products Ltd (RCPL), as per a regulatory filing. In the filing, Ravalgaon Sugar Farm said its board "approved the sale, transfer and assignment of the trademarks, recipes, all intellectual property rights, including all rights, interests, and protections associated therewith, relating to the company's sugar boiled confectionery business to RCPL for a consideration of ₹27 crore".

Promise Day 2024 is here, and you know what that means – loads of promises coming our way. But here's the thing – will these promises endure or crumble? The weight of broken promises goes beyond mere letdowns; it can deeply affect an individual's mental health. Whether it's a commitment from a friend, family member, or even oneself, unmet promises often stir up feelings of disappointment, frustration, and betrayal. It's essential to grasp the psychological impact of broken promises to nurture healthier relationships and safeguard personal well-being. Let's dive into how these broken promises can mess with our minds and why it's crucial to get a handle on it for better relationships and our own sanity. Emotional Toll The emotional toll of a broken promise is often underestimated. When someone fails to uphold their commitment, it can evoke feelings of sadness, anger, and a loss of trust. These emotions, if left unaddressed, may contribute to the development of anxiety or depression. It's essential to acknowledge and process these emotions rather than bottling them up, as suppressing feelings can exacerbate mental health challenges.

Jaishankar on Saturday said he is confident that the relevance of the Quad grouping would grow and it would become a bigger factor in the larger regional, and beyond the region, politics and policy. Jaishankar's remarks came during a fireside chat with his Australian counterpart Penny Wong at the Indian Ocean Conference. Jaishankar is here to attend the two-day conference. Speaking about the Quad or Quadrilateral Security Dialogue comprising India, the US, Japan and Australia, Jaishankar said the grouping is the outcome of the changing capabilities of the major powers and the implications that it has for all of the world.

fixed deposit (FD), it is advisable to compare the interest rates offered by different banks. Here we present the interest rates offered on term deposits of different state and private banks. Interest rates of most banks hover around 6.8 to 7 percent on their 1-year deposits.

India's energy requirements at present come from non-fossil sources and are likely to touch as high as 65 per cent by 2030, much higher than what the country pledged at the COP summit in 2021, said Union Minister RK Singh. At COP26 held in 2021 in Glasgow, India committed to an ambitious five-part «Panchamrit» pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, to reducing emissions by 1 billion tonnes by 2030. India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.

UBS Private Wealth Management has expanded its ultra-high-net-worth presence with the addition of a multibillion-dollar advisory team.