The Reserve Bank of India (RBI) has begun evaluating at least five potential bidders interested in picking up a majority stake in state-owned IDBI Bank Ltd, three people familiar with the matter told Reuters. Kotak Mahindra Bank, Prem Watsa-backed CSB Bank and Emirates NBD are among those that have submitted expressions of interest, two of the […]
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France has banned government employees from using all types of social media platforms, gaming, and video-streaming apps on their work phones, citing cybersecurity and privacy concerns, amid widespread protests across the country. The ban, which comes into force immediately, includes Chinese-owned video-sharing TikTok application, Instagram, Candy Crush, and Netflix, the Ministry of Public Sector Transformation and […]
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The surprise 25 per cent hike in securities transaction tax (STT) on sales of futures and options (F&O) contracts has met with a disapproval from the stock-broking community, who fear a hit on volumes, impact costs and profitability.
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The non-availability of Rs 2,000 denomination currency notes in the banking system has prompted commercial banks to reconfigure the cassettes of cash dispensers in automated teller machines (ATMs) so that they can hold lower denominations.
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MUMBAI(Reuters) – The Reserve Bank of India (RBI) sold net $384 million in the spot foreign exchange market in January, the central bank’s monthly bulletin showed on Tuesday. The RBI said it purchased $12.90 billion and sold $13.29 billion in the spot market in the month. In comparison, it bought net $3.84 billion in the spot market in December. […]
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The IT services sector in India may have to bear the brunt of the banking sector crisis in the US and Europe, which may affect their FY24 growth momentum. The industry counts banking, financial services, and insurance (BFSI) as its largest customer base. According to Nasscom, BFSI constituted 41 per cent of the industry’s revenue […]
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Amazon.com Inc announced on Monday that it has decided to lay off an additional 9,000 employees, CNBC reported citing a memo sent to staff. According to media reports, CEO Andy Jassy said in the memo that lay off will happen in the next few weeks, mostly in Amazon Web Services (AWS), advertising, Twitch and PXT (People Experience […]
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The Petroleum and Natural Gas Ministry has accepted the main recommendations of the Kirit Parikh committee on natural gas pricing, and will be further recommended by them to the Cabinet soon, several officials said. The move is expected to have a significant impact on the energy sector, as the price of natural gas will likely increase.
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Amritpal Singh, self-styled radical Sikh preacher and Khalistan sympathiser, has been arrested by the Punjab Police after a dramatic chase, NDTV reported citing sources. Punjab police on Saturday suspended internet services in several parts of the state as Amritpal’s associates started circulating frantic videos appealing to supporters to reach Shahkot. Police personnel from seven districts chased Amritpal Singh and his […]
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When does doing a little work on vacation turn into a stay that piques the interest of local tax authorities? And does a UK company, for example, face tax complications abroad if they have staff and key decision makers are dotted across Europe working remotely? National tax authorities and the Organization for Economic Cooperation & Development are grappling with those questions […]
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