Information Financial News

Punjab and Sind Bank (PSB) has cautioned its customers about an ongoing scam in the bank's name. The bank said that it is important for you to know about the scam to keep your money safe from the scamsters. This scam (APK file scam) starts with you receiving a fake message supposedly from the bank informing that your bank account will be blocked due to a KYC update. However, in reality, no such message has ever been sent by the bank, and neither is your KYC going to expire. «They are asking customers to download APK files loaded with malware to steal account and personal information,» Punjab and Sind Bank said in the notice. So how exactly does the scam happen? And what false narratives do the fraudsters create to lure you into following their call to action? Read below to know more about this and be alert.

investors who took positions in FirstCry, Ola Electric and Unicommerce at the right time, with their investments set to become multibaggers when these new-economy startups go public next week. Investors such as SoftBank, Tiger Global, Mahindra & Mahindra and Matrix Partners India will see the value of their holdings in these firms surge anywhere between three times to ten times as they hit the public markets, according to calculations made by ET basis information available in the IPO prospectuses of these companies.

₹32,403.46 crore in integrated GST (IGST) over five years between July 2017 and March 2022 for “supply of services" by its foreign branches. On Thursday, Infosys informed stock exchanges that the Karnataka State GST authorities, a reference to the zonal office of DGGI, had withdrawn the pre-show cause notice and directed it to respond to DGGI's central authority on the matter. The company had received pre-show cause notice on the same matter from both the central and state offices of DGGI.

Central Board of Indirect taxes and Customs has asked field officials to take into account its June 26 circular when considering matters about related party import of services by local entities, people familiar with the development said. The move could provide relief to Infosys and other tech companies facing the threat of massive goods and services tax (GST) demands. As per the circular, if a related domestic entity has not issued an invoice for a service provided by its foreign affiliate, the cost of such services is deemed to be nil. Such services would, therefore, not attract any GST. On July 30, Bengaluru-headquartered tech firm Infosys received a Rs 32,403 crore pre-show cause notice from the Directorate General of GST Intelligence (DGGI) for “non-payment of Integrated GST on import of services” from its foreign branches for the period July 2017, when GST was rolled out, to the FY22.

The Justice Department sued TikTok on Friday, accusing the company of violating children’s online privacy law and running afoul of a settlement it had reached with another federal agency

Japanese video game maker Nintendo has reported a 55% drop in its profit in the April-June quarter as sales slipped in both machines and game software

Turkey’s communications authority has blocked access to the social media platform Instagram

TikTok and parent company ByteDance for failing to protect children's privacy on the social media app as the Biden administration continues its crackdown on the social media site. The government said TikTok violated the Children's Online Privacy Protection Act that requires services aimed at children to obtain parental consent to collect personal information from users under age 13. The Chinese-owned short-video platform boasts around 170 million U.S. users, and is currently fighting a new law that would force ByteDance to divest TikTok's U.S. assets by Jan. 19 or face a ban.

electronics industry to share production statistics for policy formulation, a Meity official said on Friday. The government has been sharing electronics production data in the country based on estimates of industry bodies, especially the India Electronics and Cellular Association. «We don't have any kinds of production data. That's very important. When we formulate policy, we need to know how much we are producing and what we are producing. So that we actually know the exact figure. We have DGIS, where we can get import data and export data. Industry has to support the government by sharing the data,» Meity Scientists G and Group Coordinator Asha Nangia said. She was speaking at an event organised by CII in collaboration with ICEA on Building a Resilient Supply Chain for Electronics and Semiconductor Industry.

If you are one such fitness enthusiast looking for the right way to facilitate muscle recovery and growth, then you must go through the complete list of the best whey protein in India. All of these options feature high-quality protein, brand reputation and customer’s trust. Check them all out, find the one that suits you the best and place your order using the shared buying links.

Delhi Police has sought information from the Maharashtra government, the IAS training academy in Mussoorie and AIIMS Delhi on former IAS prohibitionary officer Puja Khedkar in connection with a cheating and forgery case, sources said on Friday. Khedkar was booked by the Delhi Police Crime Branch on July 19 for wrongly availing OBC and PwD (person with disabilities) quota benefits to secure her candidature in the civil services exam. On Thursday, a Delhi court denied her anticipatory bail, saying there were serious allegations against her which «require a thorough investigation». Khedkar, who has not been arrested in the case, had approached the court through her lawyer, saying she faces «immediate threat of arrest».

Railway Minister Ashwini Vaishnaw on Friday informed the Rajya Sabha that there have been cases where passengers tried to secure accommodation under the emergency quota using fake authority letters purporting to be from high dignitaries and railway officials. He made this statement in response to inquiries from Samajwadi Party MP Javed Ali Khan about the misuse of the emergency quota by touts. «Some instances of attempts to get accommodation released out of emergency quota on the authority of fake letter heads of high dignitaries and some railway officers have come to notice,» Vaishnaw said in his written reply. «With a view to prevent malpractices and to confirm genuineness of requests, checks are conducted from time to time. Also, instructions are issued at regular intervals to prevent unscrupulous elements from misusing the system,» he added. According to the railway minister, approximately 36 per cent of the berths or seats earmarked under emergency quota were utilised on an average during the financial year 2023-24.

Hiring in the U.S. slowed significantly last month, with information and financial sectors registering job losses.

public comments till August 30 on its proposed amendment to bring uniformity in rules regarding mandatory declaration on packaged commodities sold in the retail market, except for institutional consumers. According to an official statement, the Department of Consumer Affairs has extended the timeline for submission of comments on the proposed amendment in Rule 3 of the Legal Metrology (Packaged Commodities) Rules, 2011 until August 30. The last date of submission was July 29. The Legal Metrology (Packaged Commodities) Rules, 2011 make it mandatory to declare information like name and address of the manufacturer/ packer/ importer, country of origin, common or generic name of the commodity, net quantity, month and year of manufacture, MRP, Unit Sale Price, best before/use by date and consumer care details on all pre-packaged commodities. However, Rule 3 provides that these rules are not applicable for the packaged commodities containing quantity of more than 25 kilogram or 25 litre except cement, fertilizer and agricultural farm produce sold in bags above 50 kilogram. It is presumed that the packaged commodities meant for retail sale are not more than 25 kg, the statement said.

4G and 5G networks which will the prevalent technologies going forward, while relaxing those around legacy but dying 2G and 3G networks. Further, to achieve time bound action on quality of service (QoS) related isissues the Telecom Regulatory Authority of India (Trai) Friday introduced provisions for financial penalties for all services. For the first time, the Trai notified QoS benchmarks for 5G services as the technology was launched in October 2022 in India. The new parameters released by Trai will be used to measure quality of fixed, wireless and broadband services, with an aim to reduce instances of call drops and improve quality of telecommunication services for consumers. The new regulations come into effect from October 1.

The Indian Directorate of Enforcement (ED), on Friday, raided at least six premises, probing a money laundering case linked to a crypto fraud ring – Emollient Coin.

train services, including 100 Vande Bharat services, have been introduced in the Indian Railways network from 2019-2020 to 2023-2024, Union Minister Ashwini Vaishnaw informed the Rajya Sabha on Friday. The railway minister's written response came after BJP MP Neeraj Shekhar sought to know the number of new trains proposed to be run during 2024-25 and new trains like Vande Bharat, Rajdhani and other trains started in the last five years with year-wise and zone-wise details.

MUMBAI : In Currency and Finance report for 2023-24, the Reserve Bank of India (RBI) points out that digitalization is disrupting the jobs landscape in the financial sector and driving out middle-level banking staff. This comes even as digitalization is expected to constitute a fifth of India's gross domestic product (GDP) by 2026, doubling from 10% at present. The central bank also flagged potential challenges related to digital upskilling and the required employee adaptability.

Pakistan-Afghanistan border at Torkham after authorities started asking Afghan cargo truck drivers for travel documents, Pakistan-based The Express Tribune reported. In response to the decision, Taliban authorities suspended all vehicular movement entering Pakistan. Earlier in January, the Pakistgovernment had implemented the rules of visa and travel documents requirements, according to a customs official. However, they agreed to the Taliban's request and placed an exemption till July 31. Speaking to The Express Tribune, an official said, «Today, as the period of six months has expired, the Afghan side has been informed that the travel documents requirement would be reimposed from Thursday.»

Delhi government extensively mapped the city's utilities, creating a geospatial database that included both two-and three-dimensional information on underground and overground assets. Recently, the government has decided to modernise this infrastructure to provide more accurate data and integrated services using the latest technologies, reported The Times of India. This initiative will start with a pilot project covering Mehrauli, Masoodpur, and Rangpuri villages using high-resolution drone surveys. The original database operational since over a decade includes comprehensive spatial datasets covering drains, sewers, water pipes, power lines, buildings, and transport networks, among other utilities. This database was accessible over the web and widely used by various departments and stakeholders to solve planning issues ranging from bus routes to drainage and preventive health campaigns.

Replying to a question in Rajya Sabha by MP Sushmita Dev, Minister of State of Home Affairs Nityanand Rai on Thursday stated that, as per information furnished by the State Government of Assam, 880 casualties have been reported due to floods in Assam from 2019 to July 25 this year. «157 casualties reported in 2019, 190 in 2020, 73 in 2021, 278 in 2022, 65 in 2023 and 117 in this year up to July 25,» Rai said in the Upper House of Parliament.