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Explained | RBI’s proposal for interoperability of credit and debit cards

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Image for representation only The story so far: On July 5, apex banking regulator Reserve Bank of India (RBI) floated a draft circular seeking comments from stakeholders about mandating that card issuers provide their customers with the choice of multiple card networks. It also proposes to restrain issuers from entering into exclusive agreements with card…

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Currency note with * symbol in number panel valid note: RBI

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Image used for representative purpose only. | Photo Credit: REUTERS A currency note with a star (*) symbol is identical to any other legal banknote, the Reserve Bank said on Thursday allaying concerns on the validity of such notes. The symbol is inserted in the number panel of a banknote that is used as replacement…

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Govt. to consider PLI scheme for chemicals and petrochemicals industry: Finance Minister Nirmala Sitharaman

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Union Finance Minister Nirmala Sitharaman. File | Photo Credit: PTI Finance Minister Nirmala Sitharaman on July 27 said the government will consider the Production Linked Incentive (PLI) scheme for Chemicals and Petrochemicals sector to make India a manufacturing hub for such products. In view of stringent pollution control regulations and rising labour cost, she said,…

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Meta posts higher profit, revenue for Q2 as advertising rebounds

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Facebook parent Meta posts higher profit, revenue [File] | Photo Credit: AP Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. The Menlo Park, California-based company earned $7.79 billion, or $2.98 per share, in the April-June period. That’s up…

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No review of Uniform Civil Code impact on HUFs: Finance Ministry

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Minister of State for Finance Pankaj Choudhary. File The number of Hindu Undivided Families (HUFs) availing tax benefits under the Income Tax Act stood at almost 8.76 lakh in 2022-23, the lowest in at least five years. The impact on their tax treatment under a Uniform Civil Code (UCC) has not yet been examined, the…

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Video-gaming firms write to PMO seeking distinction from real-money gaming industry

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The video gaming industry has said the term ‘online gaming’ is a broad and ambiguous term that is causing confusion among gamers, games publishers, international investors and media amid the GST row. Image used for representational purposes only. | Photo Credit: Special Arrangement As many as 45 video game companies in India on July 26,…

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Mondelez India to invest ₹1,600 crore in its manufacturing facility at Sri City

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Chief Minister Y.S. Jagan Mohan Reddy participating, in virtual mode, in the groundbreaking ceremony of Mondelez India’s expansion unit at Sri City in Tirupati district on Tuesday. | Photo Credit: SPECIAL ARRANGEMENT Chief Minister Y.S. Jagan Mohan Reddy participated virtually in the groundbreaking ceremony of the expansion unit of Mondelez India’s manufacturing facility in the…

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