THIRD PARTY BILLING
New credit card rules: HDFC Bank, Axis Bank, other banks customers cannot make credit card bill payments using PhonePe, Paytm
Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as PhonePe, Amazon Pay, and Paytm.
Who are the main players in the UK's upcoming national election?
Prime Minister Rishi Sunak's Conservatives are widely expected to lose to the main opposition party, the left-of-center Labour, after 14 years in power under five different prime ministers. The Conservatives and Labour traditionally dominate British politics under the U.K.'s "first past the post" electoral system, which makes it difficult for smaller parties to win representation in Parliament.
Despair in the air: For many voters, the Biden-Trump debate means a tough choice just got tougher
Apart from the sizable and pumped-up universe of Donald Trump's supporters, the debate suddenly crystalized the worries of many Americans, a portion of President Joe Biden's supporters among them, that neither man is fit to lead the nation.
Pakistan's National Assembly passes Rs 18,877 billion budget for fiscal 2024-25
The budget, facing opposition, sets growth targets and tax revenue goals while addressing concerns about IMF loans and tax exemptions to aid economic growth.
Consolidation push to continue as key raw material gets scarce: 11 small cap cement stocks which fit the bill and may see some action
In less than a month, two cement majors clearly showed their intent. The intent is to grow through an inorganic route. One by complete acquisition, the other by taking a large stake in the company. Another common thing, both of them are focussed on the southern part of India, where the cement companies have a history of being under pressure. So why are they looking toward southern India? The answer lies in something else. It is one of the key raw materials that have become scarce and that is what is leading to a situation where big players clearly know that if they have to grow their capacities they have to pick on companies which have access to that critical raw material. This aggressive consolidation is likely to continue and it is the smaller players which are likely to be targeted.
HDFC Bank credit card charges, rules to change from August 1, 2024: Know about new late payment fee, bill payment rules
HDFC Bank announced major revisions to its credit cardholders about terms and charges. The following changes to your HDFC Bank credit card charges will come into effect on August 1, 2024.
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"President's address is actually the speech of the government," says Akhilesh Yadav
Samajwadi Party chief Akhilesh Yadav responded to the President's Address to the joint session of Parliament, noting it as a traditional representation of the government's views. He emphasized the significance of the speech as reflecting the government's stance. Meanwhile, Congress MP Pramod Tiwari criticized the government, describing it as tired and lacking willpower, with nothing new to offer for the nation's benefit. Congress leader Imran Masood echoed similar sentiments, alleging that the address was predetermined amidst what he termed as a situation akin to an emergency.
View: Gender diversity needs work
This year, 797 women candidates contested the general elections, constituting 9.6% of the total 8,337 candidates. Only 74 of them won a seat in the 18th Lok Sabha - four fewer than the number of women in the 17th Lok Sabha. This comes less than a year after the passage of the Women's Reservation Bill, which reserves one-third of seats in Lok Sabha and assemblies for women.
Credit card bill payment hurdles; startup funding logs slight uptick
Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies. This and more in today’s ETtech Morning Dispatch.
Pause on the cards: Fintechs may take a hit as most banks stay away from BBPS
RBI mandates credit card bill payments through BBPS, but only 8 of 34 banks are live on the network, causing concern among payment companies like PCI for an extension.
CBIC orders release of imports without delay
Industry was facing delays in release of consignments and denial of free trade agreement benefits with authorities questioning value addition in third-party invoicing, ET reported on June 8.
In Modi's stronghold, voters chose jobs over new Hindu temple
India's grand Hindu temple opening, aimed at bolstering PM Modi's Hindu-first agenda ahead of elections, backfired as BJP lost key seats due to voter discontent over unemployment and inflation. Despite retaining power, BJP's reduced margin reflects public focus shifting from religious issues to economic concerns. The opposition Samajwadi Party capitalised on these grievances, signaling a potential shift in political priorities away from religious symbolism.
RBI cautions micro finance lenders against usurious interest rates
The Reserve Bank of India (RBI) has warned lenders, particularly in the microfinance sector, against charging "usurious" interest rates by exploiting the regulator's freedom. While most lenders follow guidelines on the Key Facts Statement (KFS), some continue to impose undisclosed fees and high interest rates, particularly on small-value loans provided by microfinance institutions (MFIs) and non-banking financial companies (NBFCs).
White goods, FMCG imports failing to get custom-fit tag
White goods, chemicals, pharmaceuticals, and FMCG companies face import delays or higher duties as customs authorities scrutinize third-party invoicing at various ports. This practice, used for tax optimization, allows invoicing through a country different from the goods' origin and is permitted under FTAs. However, customs officials suspect abuse of FTA provisions, withholding consignments and denying lower duty benefits at ports like Nhava Sheva. Authorities demand differential duty payments and invoke rules addressing potential duty evasion through third-party invoicing, leading to potential supply disruptions.
No strings attached support to NDA, but we expect help for Andhra's development: Nara Lokesh
Telugu Desam Party extends unconditional support to NDA, seeking Centre's backing for Andhra Pradesh's development as an electronics manufacturing hub, automotive cluster, and port-rich coastline. N Chandrababu Naidu's son Nara Lokesh emphasises on private investment attraction, government decisions, and winning Mangalgiri for the first time since 1985. TDP seeks Centre's support for commitments made during Andhra Pradesh's bifurcation, without demanding special status.
'Focus on farmer grievances...': SAD leader Harsimrat Kaur Badal urges new government
Akali Dal (SAD) leader Harsimrat Kaur Badal on Friday demanded that the new government at the Centre should focus on addressing the grievances of the farmers and fulfil the promises made to them previously. Harsimrat Kaur Badal, who was the Food Processing Industries Minister (2014-2020) in Prime Minister Modi's government said that no one should be allowed to label Punjabis as "atankwadi" (terrorist).
73 women elected to Lok Sabha, lower than 2019
73 women won in the Lok Sabha elections, a slight dip from 78 in 2019. West Bengal leads with 11 female MPs. BJP fielded 69 women candidates, Congress 41. This election follows the women's reservation bill, yet to be implemented.
Modi retaining power under changed circumstances to make reforms challenging: Economists
Economists warn that PM Narendra Modi's retention in power after the general elections under 'changed circumstances' will pose challenges for implementing critical reforms.
2024 Lok Sabha elections: Under-representation issue in spotlight as only 9.6% women in fray
This year marks the first general election since the passage of the women's reservation bill, which aims to reserve one-third of seats in the Lok Sabha and state assemblies for women - a bill which, despite being passed, is yet to be implemented. Despite the landmark legislation, the representation of women in this year's election has seen only a marginal increase.
Female candidates in Lok Sabha polls rise from 7% in 2009 to 9.6% in 2024
The number of female candidates contesting Lok Sabha elections in India has increased steadily over the past 15 years, rising from 7% in 2009 to 9.6% in 2024, according to an analysis by the Association of Democratic Reforms (ADR). In 2024, 797 women are contesting, representing 9.6% of the total 8,337 candidates, an increase from 9% in 2019, 8% in 2014, and 7% in 2009.
Country's freedom, Constitution, democracy in danger: Arvind Kejriwal targets BJP
Attacking the BJP-led Centre, Delhi Chief Minister Arvind Kejriwal on Sunday said the country's freedom, Constitution and democracy is in danger and called upon Punjabis to once again be at the forefront to save it. The Aam Aadmi Party (AAP) leader said the people of Punjab played a big role in the country's freedom movement.
In battle for Haryana's Ambala, BJP banks on pro-women schemes; Congress leans on its 'pillars of justice'
The Ambala Lok Sabha constituency in Haryana is poised for a tough contest between the BJP's Banto Devi Kataria and the Congress's Varun Chaudhary on May 25. Kataria, widow of former MP Rattan Lal Kataria, hopes to retain the seat, leveraging BJP's welfare schemes and PM Modi's popularity. Chaudhary, a sitting MLA and son of veteran leader Phool Chand Mullana, focuses on local issues and Congress's manifesto. The farmers' protests and recent leadership changes could influence the outcome.
Rishi Sunak to address nation as expectation mounts he will call a summer election
British PM Rishi Sunak is expected to announce a summer general election following positive economic data, sparking speculation of a July 4 election date.
2024 Lok Sabha Elections: Women candidates make up less than 10% of the contenders, ADR report shows
This is the first election since the passage of the women's reservation bill to reserve one-third of seats in Lok Sabha and state assemblies for women, reviving a bill pending for 27 years for want of consensus among parties. The bill is yet to come into effect.
BJP ended crisis of credibility in politics by fulfilling promises: Ex-Haryana minister Anil Vij
Former Haryana minister Anil Vij praised BJP for fulfilling promises, boosting credibility in Indian politics. PM Modi's scheduled visit to Haryana for election rallies expected to strengthen BJP campaign. Vij criticized Congress for lack of credibility. He highlighted BJP's achievements and criticized opposition bloc. Vij also slammed AAP chief Kejriwal's silence on party MP's alleged assault.
Modi govt's new solar scheme has three big hurdles
The government has launched a new scheme to encourage the installation of solar panels on rooftops, aiming to triple renewable capacity by 2030. The program provides subsidies to install grid-connected systems, allowing households to reduce electricity bills and sell extra power to the grid. However, challenges remain, including difficulties with electricity distribution companies (DISCOMs) and a lack of skilled workers. Despite these hurdles, the initiative is expected to create jobs and significantly reduce CO2 emissions.
Apple aims to tell an AI story without AI bills
After the company reported quarterly earnings on Thursday, Cook insisted that Apple will have concrete details about its plans for AI to talk about very soon.
Donald Trump cheers border bill collapse, vows 'deportation operation'
The death of the bipartisan bill in the US Senate this week highlights the ex-president Donald Trump's iron grip on the Republican Party, as he is keen to deny Biden a win on the hot topic of immigration. "Let's not forget that this week we also had another massive victory that every conservative should celebrate. We crushed crooked Joe Biden's disastrous open borders bill," Trump declared at a rally in South Carolina.
Nagaland assembly unanimously passes bill reserving one-third of urban local body seats for women
The Nagaland Assembly passed the Nagaland Municipal Bill 2023 unanimously, reserving one-third of seats in urban local bodies for women. Chief Minister Neiphiu Rio introduced the bill during an emergency session, and Deputy Chief Minister TR Zeliang expressed support, highlighting the recommendations from the Select Committee
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