Prevention Financial News

Norway says it will transfer tax funds to the Palestinian Authority that have been frozen for months because of a dispute with Israel

Shivraj Singh Chouhan and Vasundhara Raje may form their own political outfits. "Today, if the ED (Enforcement Directorate) is stopped and section 45 of the PMLA (The Prevention of Money-Laundering Act) is abolished, half of the BJP leaders will quit the party," he said. Chouhan and Raje were overlooked by the BJP for the chief minister posts in Madhya Pradesh and Rajasthan respectively despite ensuring the party's return to power in the assembly polls held recently.

Arvind Kejriwal skipped summons by the Enforcement Directorate for the sixth time, sources said that the in the agency claimed that the court has taken cognizance of a complaint by probe agency under Section 174 of the Indian Penal Code against the Aam Aadmi Party (AAP) chief. Section 174 pertains to not obeying a legal order to attend a certain place in person or by an agent. The complaint was filed against Kejriwal for intentionally disobeying the first three summons issued to him, sources said.

The BFSI sector has grown by leaps and bounds, transitioning India from a primarily cash-driven economy to one that is now highly digitised. Fintech, today, has entered the mainstream, focusing on increasing profitability and curtailing risk. The fintech ecosystem has witnessed tremendous technological advancements and is projected to grow sixfold from $245 billion to $1.5 trillion by 2030. The Asia-Pacific region is expected to outpace the US and climb up the ranks to become the world’s leading fintech market by 2030. 

Vijay Kirloskar, the founding director and a large shareholder of Bengaluru-based engineering services company TD Power Systems (TDPS), has lodged a complaint with the stock exchanges, accusing the company of omitting and suppressing material facts in the financial results for the quarter ending December 2023. In a letter dated February 3, 2024, Vijay Kirloskar, who also serves as the chairman of Bengaluru-based Kirloskar Electric Company, urged the bourses to acknowledge that the company's disclosure on February 1, 2024, stating there is no action initiated by Kirloskar against TDPS is «entirely factually incorrect, a misstatement and a deliberate suppression of vital information» intended to mislead TDPS shareholders.

Amidst a surge of activity, Bonk price has become a focal point for traders, as its price hovers at $0.000013 and trading volumes soar.

Cervical cancer, often dubbed “the silent killer," lurks in the shadows, claiming the lives of thousands of women every year. Its impact roils the lives of women and their families, leaving emotional, social and financial scars. Understanding these far-reaching consequences is crucial for raising awareness, mobilizing support and ensuring holistic care.

Punjab Police had succeeded in arresting radical Sikh leader Amritpal Singh in April 2023. Nine of Amritpal's close aides, including Papalpreet Singh and Daljeet Singh Kalsi, are also in the same jail and charged under the stringent National Security Act.

Thailand Prime Minister Srettha Thavisin stated that Taylor Swift's "The Eras Tour" will not be held in Thailand due to a contractual agreement with Singapore, preventing her from performing elsewhere in the ASEAN region. As reported by Thai Enquirer reported that Thai PM Thavisin had conversed with the concert organizer, who disclosed the existence of the agreement preventing Taylor Swift from performing in Thailand as part of “The Eras Tour".

Taipur village, drives to Khanauri to offer langar to thousands of farmers settled on the Punjab-Haryana border. He doesn't count how many meals he and his fellow villagers cook. «We start langar at around 10 am and go on till midnight.

India at the 6th Regional Dialogue of Secretaries of Security Councils/National Security Advisers on Afghanistan, on Wednesday called for preventing Afghan territory from being used by the UNSC proscribed Lashkar-e-Tayyiba and Jaish-e-Mohammad. Cross-border terrorism was a key item on the agenda of the meet. Misri, according to sources, emphasised that Afghan territory should not be used for sheltering, training, planning or financing terrorist acts; specifically, terrorist individuals proscribed by the UN Security Council, including those belonging to the Lashkar-e-Tayyiba and Jaish-e-Mohammad. It is well established that any instability in Afghanistan is a threat to the whole region, he further noted. He also emphasised that India was and is an important stakeholder in Afghanistan and that it was imperative to have a ‘consensus’-based approach at both levels, regional and international.

Donald Trump and his real estate company suffered a major defeat in New York’s civil fraud suit over his inflated asset valuations, after a judge barred the former president from running any business in the state for three years and ordered the return of $364 million in illegal profits. 

What is an NCMC card, and can users continue to use NCMC cards issued by Paytm Payments Bank after March 15, 2024? NCMC stands for National Common Mobility Card, which is an interoperable transport card facilitated by the Indian government. Users can continue to utilize NCMC cards issued by Paytm Payments Bank until the available balance is exhausted. However, they won't be able to add funds to these cards after March 15, 2024. Users are advised to obtain NCMC cards from other banks or non-bank prepaid instrument (PPI) issuers before the deadline to avoid inconvenience. Will it be possible to add funds to NCMC cards issued by Paytm Payments Bank after March 15, 2024? No, after March 15, 2024, users will not be able to add funds to their NCMC cards issued by Paytm Payments Bank. It's recommended that users obtain NCMC cards from alternative banks or non-bank PPI issuers before the specified date to prevent disruptions.

Income Tax and Tax Deducted at Source (TDS) are the two most common terms Indian taxpayers often come across. Both may sound similar, but there is a vast difference between them. The main difference between Income Tax and TDS is that the Income Tax is deducted from the payer’s overall profit or annual return, on the other hand, TDS refers to the tax deducted from the payer’s sources of income based on the expected tax liability.

Finra has imposed a $1.6 million fine on Morgan Stanley for significant lapses in handling municipal securities transactions.

payment banks may face regulatory action as the Financial Intelligence Unit (FIU) has detected about 50,000 accounts without know-your-customer (KYC) verification and potentially engaged in suspicious transactions and money laundering activities. About 30,000 of these are with payments banks other than Paytm Payments Bank and details have already been given to the Reserve Bank of India (RBI), which is looking into these and has sought further information, said people with knowledge of the matter. The banking regulator didn’t respond to queries. The lapses by such banks include nonreporting of suspicious transactions, not maintaining details of beneficial owners and registration of multiple users using a single income tax permanent account number (PAN).

By Niket Nishant and Nupur Anand

Mumbai: Large private sector banks such as ICICI Bank, HDFC Bank, and Axis Bank have informally agreed among themselves not to poach employees from each other, as they seek to stem attrition, particularly at the junior level. Senior executives in these private banks have told Mint that they are ensuring that candidates with less than 2 years of work experience are not hired from a rival lender. “We did have attrition which is very high at the junior level.

Paytm Payments Bank, and most recently, on business payment solutions providers (BPSPs, typically fintech companies). Even in October, RBI had fined the payments bank ₹5.39 crore for non-compliance with some provisions of KYC guidelines, cybersecurity framework, etc. Others have not been spared either.

The Economist while examining the Netherlands’ loss of export competitiveness and rise in unemployment subsequent to the discovery of oil and gas in the North Sea in 1959. The export of hydrocarbons brought in so much of foreign exchange that the Dutch guilder (this was before the EU was formed and most EU members adopted the euro as their currency) became overvalued, rendering non-gas Dutch exports less competitive.

BSE on Thursday, February 15, in a weak market. Adani Green Energy share price opened at ₹1870.30 against the previous close of ₹1852.70 and soon jumped 5.8 per cent to the level of ₹1,959.60. Around 9:50 am, the stock traded 4.60 per cent higher at ₹1,938.