Licence Financial News

The federal government will require crypto exchanges to hold a financial services licence, issued by the corporate regulator, under a new regime bolstered with specific obligations to reduce risks for investors while also supporting the growth of the digital asset sector.

Slice earlier this week received the regulatory no objection to merge with North East Small Finance Bank, that would help it transform into a bank. Earlier, Resilient Innovations, which operates fintech firm BharatPe, became a financial investor in Unity Small Finance Bank, one of the 12 small finance entities that got a bank licence as part of a central bank initiative to expand the bailiwick of formal financing beyond credentialed high-street lenders.

₹3,273 crore, the company informed the exchanges. Vodafone Idea said DoT has in a communication on October 4 disposed-off the company's representation and objections in respect of license fee demand of ₹1,749 crore and ₹1,524 crore, respectively (including interest till 31.03.2023) for FY2015-16 and FY2016-17.

Carpooling apps in Bengaluru as well as in other cities across Karnataka must register with the transport department and operate under the state’s regulations, transport minister Ramalinga Reddy said on Monday. The minister refuted media reports that his department was planning to levy fines on car owners using the carpooling app in the state capital. Bengaluru has an estimated two million people employed in the technology, startup and BPO sectors for thousands of whom carpooling is a preferred option to get around in the traffic-laden city.

Congress leader Deepak Singh and employees of the Sanjay Gandhi Hospital here against the suspension of licence of the facility were held on Wednesday. While over 400 employees started an indefinite demonstration at the hospital gate on Tuesday, another dharna at the office of the Chief Medical officer by Singh started on Monday.

Maruti Suzuki India Chairman RC Bhargava said on Tuesday. Speaking at an event here, the veteran industry leader noted that the central government over the last nine years has been bringing in a series of reforms and improvements in the business environment. He noted that the country has seen massive improvement in the rankings when it comes to the ease of doing business.

New Delhi: Nearly 112,000 farmers are expected to receive licences for poppy cultivation in the 2023-24 crop year as part of the new licensing policy, the finance ministry said on Thursday. Poppy cultivation is strictly regulated and licences are granted by the government every year for producing the key raw material for pharmaceuticals. Poppy is grown in Madhya Pradesh, Rajasthan and Uttar Pradesh.

license norms for public and captive mobile radio trunking services (PMRTS and CMRTS), which are used to operate walkie-talkies. In the discussion paper titled 'Review of Terms and Conditions of PMRTS and CMRTS Licenses', the Telecom Regulatory Authority of India (Trai) asked whether there is a need to review the terms and conditions of PMRTS License and PMRTS Authorization under Unified License and if PMRTS providers should be permitted internet connectivity on static internet protocol (IP) addresses. The authority also sought comments on whether it is possible to deliver the PMRTS/ CMRTS, which are mission critical in nature, using 4G/5G network slicing or any other technology.

Australia, while rich in fossil fuels, is equally gifted with the resources to make it a renewable energy powerhouse. Whether it can make this transition will be a matter, not only of political will, but of tough business choices.

Telecom Regulatory Authority of India (TRAI) has recommended to the Ministry of Information and Broadcasting (MIB) that the government should discontinue charging direct-to-home (DTH) operators a licence fee after the fiscal year 2026–2027 to ensure the sector remains viable in the long-term. In its recommendations titled ‘Licence Fee and Policy Matters of DTH Services’, the TRAI has suggested that the licence fee for DTH operators should be brought down to zero in the next three years. The TRAI contended that the DTH platforms should be treated at par with other regulated and unregulated distribution platforms like multi-system operators (MSOs), headend in the sky (HITS) operators, IPTV providers, DD Free Dish, and OTT services that don’t pay any licence fee. In the last few years, the DTH sector has been losing ground to DD Free Dish, the free DTH platform of Prasar Bharati, and OTT platforms. As of March 2023, the active subscriber base of the four pay DTH platforms stood at 65.25 million. Reacting to the TRAI's recommendations, a DishTV spokesperson said, «The issue of consideration of the DTH license fee has been pending for a long time.

Supreme Court over the legality of driving-licence holders for light motor vehicles (LMVs) operating commercial vehicles without any additional endorsement has multiple stakeholders including drivers, fleet operators and cab aggregators worried, as a reversal of an older ruling could hurt them. A division bench of the top court in 2017 ruled that holders of LMV licences should be allowed to operate transport, or commercial vehicles, as long as the vehicles were up to 7,500 kg of unladen weight. In 2018, the Ministry of Road Transport and Highways issued a notification complying with the court order. Insurance companies appealed against the order before a three-member bench, arguing that this put the safety of people at risk. The bench referred the matter to a five-judge constitution bench, which at a hearing on July 20 asked the ministry to submit its position on the matter.

₹5 crore for the first two quarters, and thereafter, for an amount equivalent to LF for two quarters and other dues not otherwise securitized. The recommendations state that Gross Revenue (GR) shall comprise revenue accruing to the licensed entity by way of all operations or activities and inclusive of all other revenue or income on account of interest, dividend, rent, profit on sale of fixed assets, miscellaneous income and so on without any set-off for related items of expense.

Australia-based cryptocurrency lender, Helio Lending Pty Ltd, has been handed a non-conviction bond after falsely claiming to hold an Australian credit license. 

Another ‘buy now pay later’ startup, Uni Cards, is also understood to have applied for an NBFC licence from the RBI, but the same is believed to have not gone through yet either, this person added. “Both licence applications have been ‘returned’, a person briefed on the matter said. 'Returned' in regulatory parlance typically means that the application has not been fully rejected, but has been sent back to the applicant to be sent afresh.

Apple, HP, Lenovo, Asus and Xiaomi are looking to ship in as many laptops and tablets as possible to the country before import restrictions kick in on November 1, multiple industry executives and analysts said. These firms will increase imports by up to 50% more than what they had initially planned till October end to ensure there is enough pipeline stock for 4-6 months when the new licensing regime for imports of laptops, tablets, and personal computers begins, they said.

Being deceptive One way to make money in the stock market is to be really good at understanding financial statements, macroeconomic factors, making financial models. You take some risk and make some money if things work out. An arguably better way to make money is to not invest your own money in the market and instead advise someone else to invest theirs, and charge them for the advice.

PTI report, in September 2009, NSEL introduced the concept of ‘paired contracts’ for trading, which allowed buying and selling of the same commodity through two different contracts at two different prices on the exchange platform, wherein the investors could buy a short duration contract and sell a long duration contract and vice-versa at the same time at a pre-determined price. The trades for the buy contract and the sell contract used to happen on the NSEL on the same day at the same time but at different prices, involving the same counterparties.

₹17,000 crore for setting up units to make laptops, tablets and other IT hardware. Some say the move to licence imports is an attempt to get more companies to sign up for the revised PLI scheme which is open till the month-end.

GoI the benefit of the doubt. While upholding the letter of multilateral and bilateral agreements, the plan was, we argued, to push vendors to switch to China Plus One options quickly. Now, with the follow-up announcement that FTA partners like Japan and South Korea will not be spared, the whole import licensing issue shows up India in poor light, especially to its trading partners.

industry proposal to delay a plan to require import licences for laptops and tablets by three to six months, a senior government source said. India has imposed a licensing requirement for imports of laptops, tablets and personal computers from Aug 3 in a surprise move. These products previously did not need import licences. The move was aimed at addressing the trade imbalance with China, another government official, who did not want to be named, told reporters. «Industry has sought a 3-6 month transition period. We are examining the suggestions made by the industry and may soon issue an additional notice with clarifications if needed,» the first government source, who also did not want to be named, told Reuters. The government in its notification on Thursday gave no reason for the action, which could affect technology companies such as Apple, Dell and Samsung and potentially see them boost local manufacturing.

A Perth-based hedge fund that counts former Reserve Bank governor Glenn Stevens on its investment committee has had its licence suspended by the corporate regulator for holding insufficient assets.