SERVICE CHARGE
Vikram Misri takes charge as foreign secretary
Vikram Misri has been appointed as India's foreign secretary for two years, following his previous roles with three prime ministers and two external affairs ministers. Misri has experience in various Indian Missions abroad, including Europe, Africa, Asia, and North America. He has previously served as joint secretary in the Prime Minister's Office and private secretary to three Prime Ministers.
Looking for comprehensive insurance that covers OPD charges? What NRIs should know
NRIs face high OPD costs if they don’t renew Indian health insurance. Comprehensive policies with OPD and consumables cover, up to Rs 100,000, help manage frequent health issues, children’s visits. They include consultations, tests, and cover administrative charges. Given India’s lower healthcare costs, such evolving insurance policies need evaluation for credibility, waiting periods, and co-payments.
BSNL's CMD Purwar denied extension, DoT officer Robert Ravi to get additional charge
Government has denied an extension to BSNL CMD P K Purwar, who has been in office since July 2019. The Department of Telecom may assign the additional charge to Robert J Ravi, a seasoned Indian Telecom Service officer and Deputy Director General, who earlier served as BSNL's additional general manager for six years.
Eating out could become more expensive as vegetable prices soar
Vegetable prices are skyrocketing, leading restaurants to consider hiking menu prices and abandoning discounts, ultimately burdening diners with higher costs for dining out. The unprecedented price surge has impacted bottom lines of eateries, forcing some to adjust portions or even discontinue certain items. Larger establishments are extending support to vendors facing challenges due to rising costs, while smaller joints are exploring cost-saving measures like automation.
Nigerian judge sets Binance tax evasion trial for October
Nigerian court to commence trial against cryptocurrency exchange Binance for tax evasion charges. Executives cleared of tax evasion charges but facing separate money laundering allegations. Binance representative pleads not guilty. Case raises concerns amid Nigeria's currency struggles.
India's food services sector to hit Rs 7.76 lakh cr by 2028: NRAI Report
India's food services sector is projected to grow from Rs 5.7 lakh crore to Rs 7.76 lakh crore by 2028, according to the National Restaurant Association of India's (NRAI) India Food Services Report 2024. This represents a CAGR of 8.1%, surpassing the RBI's GDP growth forecasts. The sector, currently the third largest industry after retail and insurance, is expected to employ one crore people by 2028, up from 85.5 lakh.
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Sebi tweaks rules for Basic Service Demat Account. Check eligibility, charges
Sebi has introduced new rules for Basic Service Demat Accounts (BSDA). To be eligible, individuals must have only one demat account where they are the primary holder and only one BSDA across all depositories.
ITR filing: Comparison of ITR filing charges across different websites: Cleartax, TaxBuddy, Tax2Win, KoinX, TaxNodes, TaxSpanner
ITR filing charges: This article compares the price of filing ITR across different third party websites like Clear, TaxBuddy, Tax2Win, KoinX, TaxNodes, Quicko and others. Filing of ITR is always free on the income tax department's e-filing ITR portal, however if you need any specialised assitance then you either need to hire a CA or use any of the third party websites.
Banks in a GST fix over RBI's directive to levy penal charges
The Reserve Bank of India's directive to levy penalties only in the form of 'penal charges' is posing a tax dilemma for banks. Banks fear that the indirect tax on such levies would attract the goods and services tax (GST). The new rule, which came into force from April 1, 2024, was brought in by the central bank to ensure "reasonableness and transparency" in disclosure of penal interest. However, banks have asked the tax authorities to spell out their stand on the issue.
TDP minister Vasamshetty Subhash changes name of YSR insurance scheme soon after assuming charge
Telugu Desam Party MLA Vasamshetty Subhash assumed charge as State Minister for Labour and Insurance Medical Services. He renamed the YSR insurance scheme to Chandranna Bima Yojana, citing neglect of worker welfare by the previous government. He highlighted the diversion of funds and neglect of ESI hospitals and vowed to eradicate child labor.
Trai won’t charge users for multiple SIMs
The Telecom Regulatory Authority of India has denied reports of planning to charge consumers for multiple SIMs. Trai clarified that there are no proposals for fees on numbering resources, emphasising efficient allocation. Trai's discussion paper aims to enhance telecom services through effective use of telecommunications identifiers.
US court levies $194 million penal charges on TCS for misappropriation of trade secrets
A US court ruled TCS liable for misappropriation of trade secrets, penalizing around USD 194 million. TCS to appeal. Ordered to pay damages and face injunctions, but expects no major financial or operational impact.
ICICI Bank credit card rules: These services will be free from July 1
ICICI Bank has announced changes to its credit card services beginning July 1, 2024. One change is that the card replacement charge has been increased from Rs 100 to Rs 200 for all cards (excluding the Emerald Private Metal Credit Card).
All systems will be brought onto track: Naidu tells officials after taking charge as Andhra CM
Andhra Pradesh's newly sworn-in Chief Minister Chandrababu Naidu expressed urgency in revitalizing the state's systems, citing their current state as "defunct." Addressing India Service officers who greeted him at the State Secretariat, Naidu highlighted the need for introspection among officers regarding their performance over the past five years. He lamented the perceived injustice suffered by the state under previous administrations, emphasizing his commitment to restoring functionality.
Trai mulls charges for existing, newly allocated numbering resources to ensure efficient use
Telecom regulator Trai is seeking stakeholders' views on the introduction of charges for existing and newly allocated numbering resources to ensure their judicious and efficient use. Trai's recent consultation paper, 'Revision of National Numbering Plan,' emphasizes the value of numbering resources and the need for their efficient utilization by telecom service providers.
ICICI Bank will not levy these credit card charges from July 1
ICICI Bank credit card charges: These charges will be discontinued from July 1, 2024, according to the ICICI Bank website.Here is a look at the credit card charges that will be discontinued.
Jyotiraditya Scindia takes charge as Minister of Communications
Union Minister of Communications Jyotiraditya Scindia has emphasized the importance of the telecom division and India post division on both a global and local level. Scindia, who has previously served as civil aviation minister in the Modi cabinet, pledged to deliver according to the Prime Minister's aspirations and the 140 crore people of the country. He also highlighted the challenges of overseeing India's 5G spectrum auction, retaining India's three-private player telecom market structure, and ensuring the survival of Vodafone Idea, the government's largest stakeholder.
Electronics cos charged up for big revenue boost, set to double revenues to $55 billion by FY2027
India's EMS industry revenues are projected to double to $55 billion by FY27, driven by local component sourcing. Apple, Samsung, Lenovo, and other global firms are set to expand operations in India.
Sebi mulls raising limit for basic service demat account to Rs 10 lakh
Capital markets regulator Sebi on Wednesday proposed to enhance the threshold for the basic service demat account (BSDA) to Rs 10 lakh from the current Rs 2 lakh in a bid to boost the participation of retail investors in the securities market.
Government dismisses CRPF DIG Khajan Singh on sexual misconduct charges
The Union government dismissed CRPF DIG Khajan Singh from service over sexual misconduct charges filed by female personnel. The dismissal order, effective from May 31, followed two show-cause notices, approved by the home ministry and UPSC. Singh denied the allegations, but the CRPF probe found him guilty.
Donald Trump sentence: Ex-president could face community service like trash pickup, graffiti cleanup, say experts
People are waiting for July 11, when Manhattan Court Justice Juan Merchan will sentence Donald Trump. Will he be sent to jail, get probation or be asked to do community service?
Rs 91 lakh penalty on YES Bank for wrongly levying non-maintenance of minimum balance charges: Is your bank charging the same?
Minimum balance negative in savings bank account: RBI has imposed a penalty of Rs 91 lakh on YES Bank for not complying with the master directions on customer service in banks. One of the reason was levying charges on savings bank account having insufficient or zero balance. Has your bank done the same too?
GST to be paid by telcos along with instalments towards spectrum charges
The spectrum will be assigned for 20 years and successful bidders will be allowed to make payments in 20 equal annual instalments in the coming mega auction.
Top Russian military officials are being arrested. Why is it happening?
Following the arrest of a Russian deputy defense minister last month, a series of detentions of senior military officials on corruption charges has unfolded. These arrests coincided with President Vladimir Putin's fifth term and a reshuffle of Defense Minister Sergei Shoigu. The detentions have sparked speculation about Putin's control over the Defense Ministry, potential turf battles, or other internal power plays. Corruption has long been entrenched in Russia's system, but the recent crackdown, especially amid the war in Ukraine, suggests a significant shift in handling graft within the defense sector.
Axis, Canara Bank at bottom when comparing reasonableness of service charges vs other players
"The study found that services such as the SMS alert after an account is debited, which is mandated by the RBI, are charged by many banks. Bank of India, for instance, charges for SMS alerts of payment OTPs," said Ashish Das, professor of statistics at IIT Bombay, and the author of the study.
Tata Power-DDL, India Smart Grid Forum tie up for vehicle-to-grid technology demo project
Tata Power Delhi Distribution partners with India Smart Grid Forum for Vehicle-to-Grid Technology Demonstration Project, exploring EVs' grid services, backup power, and carbon emissions impact. The project involves stakeholders like Delhi Electricity Regulatory Commission, Central Electricity Authority, Tata Motors, and the University of Delaware, USA. Key figures include Gajanan S. Kale and Reji Kumar Pillai.
UPI Service providers sought regulatory intervention to make transactions remunerative
The UPI payment ecosystem is currently under the sway of two major players – Google Pay, commanding a substantial 47% market share, and PhonePe, a Walmart subsidiary, holding a significant 37% share. This duopoly underscores the competitive landscape and the uphill battle faced by smaller players.
Walt Disney incurs $2b+ goodwill impairment charge linked to Star India in 2nd quarter
The US entertainment giant, which has signed a merger deal with Mukesh Ambani's Reliance Industries Limited (RIL), has recorded a $1.3 billion non-cash goodwill impairment charge related to the India merger deal, as per a regulatory filing.
Tesla lays off more staff in software, service teams, Electrek reports
Tesla laid off staff from various departments, including software and engineering, following the disbanding of the EV charging department. The company is focusing on autonomous software and robotaxis, with layoffs affecting multiple locations and top executives.
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