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RBI Governor Says Crypto Discussion Paper Will Clarify India’s Stance on Virtual Assets; Industry Reacts
RBI Governor Sanjay Malhotra stated that the upcoming crypto discussion paper, being prepared under the Finance Ministry’s oversight, will provide clarity on the future of crypto assets in India. However, he did not specify a timeline for its release.
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Investors Expect Crypto Tax Could Continue as Nirmala Sitharaman Returns as Finance Minister
The Indian crypto circle has been waiting for FM Sitharaman to revise the tax laws imposed over the crypto sector. Despite the outcry, the finance minister did not announce any taxation relief for the crypto sector while presenting the interim annual budget earlier this year. Her re-appointment to the finance minister’s position has sparked conce...
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"Underscores Congress' Penchant For Deceit": Smriti Irani On Ex RBI Governor's Book
Union Minister Smriti Irani on Tuesday attacked the Congress over former RBI Governor Duvvuri Subbarao's claim that the finance ministry under Pranab Mukherjee and P Chidambaram used to pressure the RBI.
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Pressure Was Put On RBI To Paint Rosier Picture Of Growth, Claims Ex Governor
The finance ministry under Pranab Mukherjee and P Chidambaram used to pressurise the RBI to soften interest rates and present a rosier picture of growth to shore up sentiments, recalled former RBI Governor Duvvuri Subbarao in his memoir.
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Financial Intelligence Unit Imposes Penalty of Over Rs. 5 Crore on Paytm Payments Bank
India's Financial Intelligence Unit (FIU) on Friday imposed a penalty of Rs. 5,49,00,000 ($662,565) on Paytm's banking arm, Paytm Payments Bank, for violations in reporting illegal money routed through its accounts, the country's finance ministry said.
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No TCS On International Credit Card Spends Abroad: Centre Scraps New Rule
Payments made by using international credit cards (ICC) during overseas visits will not attract Tax Collected at Source or TCS, as per the latest notification issued by the Finance Ministry.
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Explained: Finance Ministry's FAQs On Remittance Scheme
The Finance Ministry has published an FAQ on its announcement that international credit card payments will come under the RBI's liberalised remittance scheme, or LRS.
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Government Imposes Anti-Money Laundering Provisions on Crypto Sector in India: Details
The Finance Ministry on Tuesday announced that it was applying anti-money laundering legislation to crypto trading, safekeeping and related financial services. The government has already levied more stringent tax rules on the crypto sector, including applying a levy on trading in 2022.
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UPI Is Digital Public Good, Services to Remain Free, Ministry of Finance Says
UPI, or Unified Payments Interface, services in India will not carry a service charge, the finance ministry said on Sunday. The ministry referred to UPI as a digital public good with immense convenience for the public and productivity gains for the economy. The total number of UPI transactions had crossed the 6 billion mark in July.
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Nirmala Sitharaman Says Law On Crypto Regulation Only After Global Consensus
Finance Minister Nirmala Sitharaman has reiterated that the Centre would need international collaboration before bringing any legislation on cryptocurrencies into effect.
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Capital Gains Tax Waiver To Foreign Debt Investors Not Likely: Report
India is opposed to providing any capital gains tax waivers to overseas debt investors
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Excise Duty Cuts On Fuel Poses Risk To Fiscal Deficit: Finance Ministry
Government revenues have taken a hit following cuts in excise duties on diesel and petrol, posing risk to budget level of gross fiscal deficit
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SBI Tops The List Of Fraudulent Activities, Maharashtra Leads
In terms of fraudulent activities, the countrys largest lender State Bank of India (SBI) topped the list with 14,431 cases
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Aadhaar-Enabled Payment System, What Is It?
Aadhaar Enabled Payment System (AePS) is a bank led model which allows online interoperable financial transactions in accounts
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Government Looking To Fill Economic Affairs Secretary's Post As Incumbent Unwell: Report
Ajay Seth, the 1987-batch Karnataka cadre IAS officer who currently holds this charge, has been detected with a serious illness
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RBI Governor Says Crypto Discussion Paper Will Clarify India’s Stance on Virtual Assets; Industry Reacts
RBI Governor Sanjay Malhotra stated that the upcoming crypto discussion paper, being prepared under the Finance Ministry’s oversight, will provide clarity on the future of crypto assets in India. However, he did not specify a timeline for its release.
-
Investors Expect Crypto Tax Could Continue as Nirmala Sitharaman Returns as Finance Minister
The Indian crypto circle has been waiting for FM Sitharaman to revise the tax laws imposed over the crypto sector. Despite the outcry, the finance minister did not announce any taxation relief for the crypto sector while presenting the interim annual budget earlier this year. Her re-appointment to the finance minister’s position has sparked conce...
-
"Underscores Congress' Penchant For Deceit": Smriti Irani On Ex RBI Governor's Book
Union Minister Smriti Irani on Tuesday attacked the Congress over former RBI Governor Duvvuri Subbarao's claim that the finance ministry under Pranab Mukherjee and P Chidambaram used to pressure the RBI.
-
Pressure Was Put On RBI To Paint Rosier Picture Of Growth, Claims Ex Governor
The finance ministry under Pranab Mukherjee and P Chidambaram used to pressurise the RBI to soften interest rates and present a rosier picture of growth to shore up sentiments, recalled former RBI Governor Duvvuri Subbarao in his memoir.
-
Financial Intelligence Unit Imposes Penalty of Over Rs. 5 Crore on Paytm Payments Bank
India's Financial Intelligence Unit (FIU) on Friday imposed a penalty of Rs. 5,49,00,000 ($662,565) on Paytm's banking arm, Paytm Payments Bank, for violations in reporting illegal money routed through its accounts, the country's finance ministry said.
-
No TCS On International Credit Card Spends Abroad: Centre Scraps New Rule
Payments made by using international credit cards (ICC) during overseas visits will not attract Tax Collected at Source or TCS, as per the latest notification issued by the Finance Ministry.
-
Explained: Finance Ministry's FAQs On Remittance Scheme
The Finance Ministry has published an FAQ on its announcement that international credit card payments will come under the RBI's liberalised remittance scheme, or LRS.
-
Government Imposes Anti-Money Laundering Provisions on Crypto Sector in India: Details
The Finance Ministry on Tuesday announced that it was applying anti-money laundering legislation to crypto trading, safekeeping and related financial services. The government has already levied more stringent tax rules on the crypto sector, including applying a levy on trading in 2022.
-
UPI Is Digital Public Good, Services to Remain Free, Ministry of Finance Says
UPI, or Unified Payments Interface, services in India will not carry a service charge, the finance ministry said on Sunday. The ministry referred to UPI as a digital public good with immense convenience for the public and productivity gains for the economy. The total number of UPI transactions had crossed the 6 billion mark in July.
-
Nirmala Sitharaman Says Law On Crypto Regulation Only After Global Consensus
Finance Minister Nirmala Sitharaman has reiterated that the Centre would need international collaboration before bringing any legislation on cryptocurrencies into effect.
-
Capital Gains Tax Waiver To Foreign Debt Investors Not Likely: Report
India is opposed to providing any capital gains tax waivers to overseas debt investors
-
Excise Duty Cuts On Fuel Poses Risk To Fiscal Deficit: Finance Ministry
Government revenues have taken a hit following cuts in excise duties on diesel and petrol, posing risk to budget level of gross fiscal deficit
-
SBI Tops The List Of Fraudulent Activities, Maharashtra Leads
In terms of fraudulent activities, the countrys largest lender State Bank of India (SBI) topped the list with 14,431 cases
-
Aadhaar-Enabled Payment System, What Is It?
Aadhaar Enabled Payment System (AePS) is a bank led model which allows online interoperable financial transactions in accounts
-
Government Looking To Fill Economic Affairs Secretary's Post As Incumbent Unwell: Report
Ajay Seth, the 1987-batch Karnataka cadre IAS officer who currently holds this charge, has been detected with a serious illness
