Department Financial News

Medical Student of RG Kar Medical College & Hospital on Saturday told media persons that they doubted if it was an act of one person and there was a role of some insider, after seeing their daughter's body. They also claimed that they have doubts if she was murdered in the seminar room or some other room. The parents blamed «negligence» on part of her Department and said the police had initially harassed them on August 9, the day her daughter's body was found. The father of the deceased doctor claimed that they have doubts if she was killed in the seminar room. «Police and CBI has been probing. NCW also came. I doubt if my daughter was killed in seminar. When she last spoke to her mother, she said they will have dinner at 11.15 at seminar hall,» he said, also mentioned that she wrote diary everyday and her diary was seized.

Union Budget being passed in Parliament, Andhra Pradesh chief minister N Chandrababu Naidu is on a two-day visit to Delhi to push for early implementation of the promises made to his state in the Budget. Naidu met Prime Minister Narendra Modi, home minister Amit Shah and finance minister Nirmala Sitharaman on Saturday. Naidu, whose Telugu Desam Party (TDP) provides the vital numerical support of 16 MPs to National Democratic Alliance (NDA), is expected to raise the issue of Central support for Polavaram irrigation project and development of Amravati as state capital. Naidu met Jal Shakti minister C R Patil on Saturday to discuss Polavaram project. Naidu also visited the civil aviation ministry to take stock of the various airports under developments and improvement of air connectivity in Andhra Pradesh.

Pakistani-origin Canadian businessman could be extradited to India where is wanted for his involvement in the 2008 Mumbai terror attack carried out by Pakistan-based Lashkar-e-Taiba terrorists. «The (India US Extradition) Treaty permits Rana's extradition,» the US Court of Appeals for the Ninth Circuit said in its ruling on Thursday. Ruling on an appeal filed by 63-year-old Rana, a panel of judges of the US Court of Appeals for the Ninth Circuit affirmed the District Court in the Central District of California's denial of his habeas corpus petition challenging a magistrate judge's certification of his as extraditable to India for his alleged participation in terrorist attacks in Mumbai. Rana, currently lodged in a jail in Los Angeles, faces charges for his role in the 26/11 Mumbai attack and is known to be associated with Pakistani-American Lashkar-e-Taiba (LeT) terrorist David Coleman Headley, one of the main conspirators of the terror incident that hit India's financial hub in 2008.

Healthcare services in Gujarat were affected as doctors from government and private hospitals took to the streets on Saturday amid the 24-hour nationwide protest over the rape and murder of a postgraduate trainee doctor at a Kolkata medical college. Doctors stayed away from the outpatient departments (OPDs) and did not conduct elective surgeries in several hospitals across the state as part of a strike call given by the Indian Medical Association (IMA) and Gujarat Junior Doctors' Association. Doctors held protest gatherings and took out rallies, shouting slogans demanding justice for the woman doctor who was brutally raped and murdered at RG Kar Medical College and Hospital in Kolkata on August 9. Dr Mona Desai, a former president of the IMA's Ahmedabad chapter, led a delegation of protesting doctors and submitted a memorandum to Chief Minister Bhupendra Patel in the state capital Gandhinagar.

Dhaka University in Bangladesh held a protest in solidarity with ongoing demonstrations over the rape and murder of a woman trainee doctor at R G Kar Medical College in Kolkata in the neighbouring country. The protest, organised under the banner «Awaaz Tolo Nari» (Raise Your Voice, Women), on Friday, took place at the Raju Sculpture in Dhaka University, Dhaka Tribune newspaper reported. «We are aware of the non-cooperative attitude of the medical college administration regarding the rape case in Upper Bengal. As women, we demand that the administration provide maximum legal assistance, strictly enforce the law, and announce the verdict promptly,» Dhaka Tribune quoted Rahnuma Ahmed Niret, a student from the Department of Physics, as saying at the event. Anya Fahmin, a student of the Department of Anthropology, added: «Women worldwide face rape, and we fully support the ongoing movement for fair accountability in the RG Kar Hospital case in Kolkata. Additionally, we call for a public trial of the rape and murder case of Sohagi Jahan Tonu in Comilla. The general public has a right to know, especially when the army is involved. The government must ensure a safe country for women through the mass uprising of student communities.»

cash transactions in business sectors like hotels, luxury brand sales, hospitals and IVF clinics need to be checked in a «non-intrusive» manner, the CBDT has asked the I-T department. The apex body for direct taxes administration in the country — the Central Board of Direct Taxes — has also asked the tax department to undertake «concerted efforts» to recover arrear demands which have been witnessing a «steep rise» since the last financial year. The CBDT recently issued an annual action plan dossier called the central action plan (CAP) 2024-25. Senior officials told PTI that transactions over Rs 2 lakh in cash were required to be reported through a statement of financial transaction (SFT) by financial institutions but that was not happening.

The industries department of the Delhi government has also collected feedback from stakeholders and the general public on three policies — Delhi Electronic System Design, Manufacturing and Refurbishment (ESDMR) Policy 2022-27, City Logistics Policy, and Industrial and Economic Development Policy 2023–33. This feedback will also be shared with the cabinet as and when it meets, sources told ToI. “We are ready with our draft proposal. We will start rolling them out once we get approval from the cabinet and the policies are notified,” said a Delhi govt official.

Budget 2024 brought about several changes to the capital gains structure, tax deducted at source (TDS), and other related aspects. However, if you are a senior citizen, many of these changes may not have a significant impact on you. It is essential for senior citizens to understand the implications of Budget 2024 and how it will affect their tax planning.

The S&P 500 and the Nasdaq notched their seventh straight session of gains, as stocks recouped losses from a tailspin two weeks ago. The sell-off, sparked by weak economic data and heightened recession fears, confirmed the Nasdaq had entered correction territory.

Texas Instruments said on Friday it would receive up to $1.6 billion in funding from the U.S. Commerce Department towards the construction of three new facilities, the latest government outlay aimed at bolstering domestic chip production. The funding, under the US CHIPS and Science Act, will help the company build two factories in Texas and one in Utah. Texas Instruments has pledged more than $18 billion through 2029 to the projects, which are expected to create 2,000 manufacturing jobs. The chipmaker also expects to receive about $6 billion to $8 billion in investment tax credit from the U.S. Treasury Department, and $10 million in funding for workforce development.

Karnataka Government, led by Chief Minister Siddaramaiah, conducted a strategic meeting on Friday with Young Liu, CEO and Chairman of Hon Hai Technology Group (Foxconn), to discuss strengthening the company's investment in Karnataka and exploring future expansion opportunities. The meeting stressed on Foxconn's ongoing and prospective projects that are expected to significantly boost the state's economic growth, job creation, and technological innovation. The meeting was attended by notable members of the Karnataka delegation, including Deputy Chief Minister D.K. Shivakumar, Minister for Large and Medium Industries and Infrastructure Development MB Patil, Minister for Information Technology and Biotechnology Priyank Kharge, Principal Secretary of the Department of Commerce and Industries Dr. Selvakumar S., and Commissioner for Industrial Development and Director of the Department of Commerce and Industries Gunjan Krishna. Foxconn will establish a major mobile phone assembly plant, known as Project Elephant, in Karnataka. The company has secured 300 acres of land in the ITIR Industrial Area, which spans Doddaballapura and Devanahalli Taluk in Bengaluru Rural District. With an investment of Rs 22,000 crore, this project is expected to generate over 40,000 jobs.

equity instruments of a local company in exchange for those of a foreign firm in a significant rejig of foreign investment norms. Investments by an overseas citizen of India (OCI) on a non-repatriation basis would not be counted as indirect foreign investment, as per the changes, which were announced late on Friday. The amendments in the Foreign Exchange Management (Non-debt Instruments) Rules follow the budget pledge by finance minister Nirmala Sitharaman to simplify overseas investment rules. The latest changes have aligned the provisions governing downstream investments by overseas citizens of India with those for non-residents. This, experts said, would encourage greater participation of NRIs in the country's economy. Easier share swap rules will «facilitate global expansion of Indian companies through mergers, acquisitions, and other strategic initiatives», the finance ministry said. The government also clarified that transfer of all shares in companies having foreign direct investment (FDI) from countries sharing land borders with India would require prior nod irrespective of the sector.

Kim Dotcom, founder of the once wildly popular file-sharing website Megaupload, lost a 12-year fight this week to halt his deportation from New Zealand to the U.S. on charges of copyright infringement, money laundering and racketeering

A Mississippi poultry processing plant has agreed to a settlement with the U.S. Department of Labor that requires it to pay $164,814 in fines and put in place enhanced safety measures following the death of a 16-year-old boy at the facility

Department of Pharmaceuticals (DoP) has started discussions with local manufacturers of rubber gloves to look into their complaints about poor quality products that are getting dumped in the country. Domestic glovemakers alleged that gloves from countries like Thailand, Malaysia and China are being dumped in India under different non-medical product codes. The department has been contemplating issuance of quality control orders in consultation with the Bureau of Indian Standards and has already invited comments from stakeholders on the matter.

TikTok has pushed back on arguments that the popular social media platform is not shielded by the First Amendment

Vanguard is joining the growing circle of asset managers venturing into an appealing corner of the fixed-income ETF space.

Siddaramaiah on Friday asked the Finance department to keep its August 12 circular asking all departments, universities, PSUs and local bodies to withdraw their deposits from State Bank of India (SBI) and Punjab National Bank (PNB) and end their transactions with the two banks in abeyance for 15 days. The government, in a statement said, the circular came after the Public Accounts Committee (PAC) and the CAG’s recorded their observations over the government’s deposits in the two banks. “This action was taken in response to the alleged fraud in the bank branches, which resulted in the non-repayment of fixed deposits made by the Karnataka State Pollution Control Board (KSPCB) and the Karnataka Industrial Areas Development Board (KIADB). Despite prolonged correspondence and meetings, these issues remained unresolved since 2012-13. On August 16, 2024, both banks submitted written representations to the government, requesting a 15-day period to resolve the matter. The same day, senior bank officials met with higher officials of the Finance Department and reiterated their request,” the statement said. The CM accepted their request. “This will allow the banks sufficient time to address the issues and redress the concerns of the government. The government is committed to ensuring transparency and accountability in all its dealings. We will continue to monitor the situation and take appropriate action to protect the interests of all stakeholders.”

Nest Seekers International chief economist Erin Sykes weighs in as high interest rates continue to hurt the housing market on 'The Bottom Line.'

Lucknow. The conference would be held with the theme «Sashakt aur Surakahit Bharat: Transforming the Armed Forces' (String and Secure India: Transforming the Armed Forces'). The first day of the conference would be addressed by the Chief of Defence Staff, where the topmost defence officer in the country is expected to address the military commanders on how the wars of the future will be fought and how the Indian armed forces will tackle the security challenges through transformation into Theatre Commands, defence sources told ANI.

Kolkata Police Commissioner Vineet Goel on Friday asserted that the force was not trying to shield anyone and it tried to be as transparent as possible in the probe into the alleged rape and murder of a doctor at a state-run hospital here. Addressing a press conference, Goel also admitted that despite «sufficient security presence», the police did not expect the protesting crowd to turn violent outside RG Kar Hospital premises in the early hours of August 15, and were initially caught off-guard when a deputy commissioner-ranked officer got injured. The CP said that Kolkata Police has handed over all evidence, including videographed post-mortem to the CBI, which is investigating the case upon orders of the Calcutta High Court. «We are not shielding anyone, and police tried to be as transparent as possible in our probe. We have handed over all evidence related to the case to the CBI. Have faith in the central probe agency,» he said.