UPI Payments: India's central bank updates facility for foreign tourists to make mobile money transfers
UPI enables 24/7 mobile money transfers year-round to meet customers' immediate needs
Source: gulfnews.com
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Top 50 wilful defaulters owe Rs 87,295 crore to banks: Finance ministry
The finance ministry on Tuesday said top 50 wilful defaulters including Gitanjali Gems Limited, Era Infra Engineering Limited, REI Agro Limited, and ABG Shipyard Limited owe Rs 87,295 crore to banks and financial institutions. Of this, top 10 wilful defaulters owe Rs 40,825 crore to schedule commercial banks (SCBs), Minister of State for Finance Bhagwat Karad said in a written reply in Rajya Sabha.
Source: indiatimes.com
income tax return: Personal use of family office money may be discouraged
Popular in western countries, the concept of 'family office' - serving the wealth management needs of a family - was recognised a year ago by the GIFT City regulator International Financial Services Centres Authority (IFSCA) when it came out with the 'family investment fund' (FIF) regulations.
Source: indiatimes.com
Settling With Wilful Defaulters Incentivises Sharp Dealing
Rather than fixing legal delays, the RBI has chosen to embrace a compromise model.
Source: thewire.in
Bombay HC stays RBI's master circular till September 11 | Business News,The Indian Express
The bench was told that the Supreme Court had considered the issue in appeal against the Telangana High Court order. On March 27, the apex court upheld the Telangana HC order that set aside the RBI decision.
Source: indianexpress.com