Guidelines Financial News

Taiwan has urged its citizens to avoid travel to China and the semi-autonomous Chinese territories of Hong Kong and Macao following threats from Beijing to execute supporters of the self-governing island democracy's independence. Spokesperson and deputy head of the Mainland Affairs Council Liang Wen-chieh issued the advisory at a news conference Thursday. That came amid growing threats from China, which claims Taiwan as its own territory to be annexed by force if necessary.

«But all in all, I think it is something that in this business it happens from time to time. We are well positioned to handle this situation and our response being done quickly is one of the important guidelines that we have shown that we are aware of this, we are well entrenched in this business and our ability to react is very important,» says Ittira Davis, MD & CEO, Ujjivan SFB. You have cut the loan growth guidance for FY25 and if we understand correctly, that is largely on the back of the concerns in the MFI segment. Can you just clarify and elaborate as to what is the reason for the same? Ittira Davis: Yes, we have revised the guidelines and the guidance on Friday and that is, as you rightly said, primarily due to the microfinance portfolio and the stress that we have seen in pockets across the country and we feel that that stress will prevail for part of this year and therefore the credit cost has been moved up to 1.7% from a higher range of 1.5.

The Global Digital Asset and Cryptocurrency Association (DCA) has established a new steering subcommittee to develop a disclosure framework for digital assets.

banking. For all money transfers abroad, it's important to adhere to the Liberalised Remittance Scheme (LRS) guidelines set by the Reserve Bank of India (RBI).With the evolving technology, India is certainly rooting for a boundaryless world which leads to multiple options for money transfers. The most commonly used routes are international wire transfer and a forex card.

train ticket bookings. According to recent claims on various platforms, it was alleged that booking tickets for individuals with different surnames could lead to severe penalties including fines up to Rs 10,000 or imprisonment for up to 3 years. However, IRCTC has categorically stated that these assertions are baseless. In a statement posted on X, IRCTC clarified, «The news circulating on social media about restrictions on booking e-tickets due to different surnames is false and misleading.» The corporation emphasized that users can indeed book tickets for friends, family, and relatives using their personal User IDs.

Jeong Sang-ho, CEO of Delio, faced intense scrutiny in the second criminal trial held at the Seoul Southern District Court on June 25, where he said investors’ deposits were not “principal protected.”

Fears are growing that South Korean crypto exchanges will begin altcoin delisting this year at the request of the financial authorities.

Ujjivan Small Finance Bank fell 7.56% in today's intraday trade, hitting a 3-week low of ₹44.70 apiece after the management reduced the bank’s loan growth guidance to around 20% for FY25, down from the earlier guidance of 20%–25%. Additionally, the bank increased its credit cost guidance to 1.7%, up from the previous 1.4%–1.5%.This adjustment is due to increased stress in microfinance in certain hotspot states such as Punjab, Haryana, Gujarat, UP, and Kerala.

Swiss museum on Thursday pulled down five paintings, including a van Gogh and a Monet, after the foundation that owns them called for a deeper look at their origins following new U.S. guidelines on how to handle artworks once confiscated by the Nazis. The Foundation E.G. Bührle Collection, which owns the works formerly shown at the Kunsthaus Zurich museum, said it was looking to reach a «fair and equitable solution» with the legal successors of the former owners, who were not identified. The foundation's board called for a new assessment of the works under new "Best Practices" published by the U.S. State Department in March on how to deal with Nazi-confiscated art, as an upgrade to principles adopted in 1998.

Bureau of Indian Standards (BIS) introduced two new guidelines aimed at enhancing the safety of electric vehicles in the L, M, and N categories. L refers to two-wheelers, while the M and N categories correspond to four-wheelers and goods trucks, respectively. These new sets of rules, called IS 18590: 2024 and IS 18606: 2024, focus on the main parts of electric cars, buses, and trucks, especially the powertrain (which includes parts like the motor and transmission).

overage vehicles found parked in public places in violation of the guidelines. Reiterating its guidelines for overage vehicles issued this February, the transport department said there is a complete prohibition on parking overage vehicles in areas just outside residences, which are considered public places. «Keep such vehicles in private parking spaces owned by the individual, not in a shared parking space, even if it's part of a residential complex. A parking space allotted to the owner within a residential complex is considered private,» it said.

13-year-old boy was apprehended for allegedly sending an email to the Delhi Airport falsely claiming that a bomb had been planted in the Dubai-bound flight, police said on Sunday. The boy had sent the mail «just for fun» after being influenced by the news of another teenager who made a hoax bomb threat call a few days ago, Deputy Commissioner of Police (IGI Airport) Usha Rangnani said. The incident occurred on Monday when a complaint was registered regarding a bomb threat on a Dubai-bound flight on June 18, DCP said. Based on the complaint, an FIR was lodged, and an investigation was launched. All the guidelines, protocols and SOPs were followed to ensure the safety and security of the passengers, DCP said.

Budget 2024: Every year, the Department of Economic Affairs in the Ministry of Finance prepares the Union Budget, which is then presented by the Finance Minister. The Budget which is tabled annually serves as a financial plan for the country and lays out the estimated earnings and expenditures of the government for the upcoming fiscal year. Here are the five essential steps involved in the formation of the Union Budget: Initial Processes: The process begins around six months before the Budget is presented. The Finance Ministry issues Budget Circulars to relevant ministries and departments with necessary instructions and guidelines. These circulars are then distributed among disbursing and field officers, who share details about their department's financial expenditures and receipts for the current and past fiscal year, as well as their financial requirements for the upcoming fiscal year.

incentive scheme for electric vehicles will be liable to pay penalties in event of non-adherence with laid-down localisation norms, a senior official told ET. Companies certifying vehicles for subsidies under Faster Adoption and Manufacturing of Electric Vehicles (FAME 3) — scheduled to be announced in the upcoming budget — will have to undergo a techno-commercial audit twice a year to ascertain they are meeting localisation guidelines. In the event of irregularities, manufacturers would have to return claimed subsidies with interest at a rate 3% higher than MCLR (marginal cost of funds-based lending rate) in penalties, the official said.

business community regarding notices served under GST, Assam government will hold regional consultation. Assam Cabinet has requested Ministers Ajanta Neog and Ashok Singhal to hold six Regional Consultations. The consultations will be held in Tinsukia, Sivasagar, Jorhat, Guwahati, Tezpur and Silchar anda report will be submitted within one month. To encourage upcoming sporting talent and to carry forward the success of the Khel Maharan movement, Cabinet has accorded approval to an SOP for providing assistance to one Youth Club/Sports Association in each of the 126

NHRC has issued a notice to the Centre over a report alleging "anti-labour practices" at one of the warehouses of Amazon India in Haryana's Manesar, according to the proceedings of the case shared on the rights panel's website. The National Human Rights Commission (NHRC) has observed that the contents of the news report, if true, raises a serious issue of human rights of the workers in violation of the labour laws and the guidelines issued by the Union Ministry of Labour and Employment from time to time. The NHRC, in a statement, said that it has taken suo motu cognisance of the media report that at one of the warehouses of a multi-national company in Haryana's Manesar «a 24-year-old worker was asked to pledge that they would not take toilet or water breaks until they finished unloading packages from six trucks, each measuring 24 feet long, after their team's 30-minute tea break had ended». «A female employee at the Manesar warehouse reportedly stated that no restroom facilities are available on the working sites,» it added.

Delhi to Bagdogra was delayed due to high ground temperatures, which affected flight operations at Indira Gandhi International Airport in Delhi. This has resulted in delays as safety guidelines are followed, sometimes requiring flights to wait for wind speeds to stabilize. A senior official from the Ministry of Civil Aviation told ANI that that high temperatures cause the air to become thin, impacting the lift required for aircraft to take off, especially during takeoff and initial climb. This can also cause mid-air turbulence for passengers. In extreme weather conditions like high temperatures and high winds, aircraft only proceed after getting clearance from Air Traffic Control (ATC). To mitigate the effects of high temperatures, airlines may adjust operations by reducing fuel or baggage, and in some cases, even offloading passengers.

Leading bankers had flagged the issue in a meeting with officials last month, they said. «We have discussed the issue internally… It was highlighted that one big issue is that ATM vendors do not have the capacity,» said a senior bank executive, adding that accordingly, representations were made both to the government and the RBI. Industry insiders said the initial reason for low capacity is connected to the 'Make in India' guidelines, which were implemented in FY20, and it took time for vendors to set up Indian operations. The Indian ATM market is projected to grow at a CAGR of 9.2% between 2024 and 2032. A second bank executive said another constraint that state-run lenders face is mandatory purchase through the GeM portal.

misleading SMS falsely asserts that a package is awaiting delivery at a warehouse and alleges multiple failed delivery attempts due to incomplete address information. It directs recipients to click on a provided link to update their details, promising redelivery within 24 hours upon completion.