Business Standard - August 30, 2024

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August 30, 2024

New database on status of charities for taxation clarity

The Central Board of Direct Taxes (CBDT) has instructed its officials to create a new database of charitable institutions to track their registration status under different provisions of the Income-Tax (I-T) Act.

2 mins

Entry threshold for GIFT City listing cut to 10%

The finance ministry on Thursday issued a notification allowing companies to list on stock exchanges in GIFT City with a minimum of 10 per cent public shareholding, down from the previous requirement of 25 per cent for continued listing on stock exchanges in India and GIFT City.

1 min

Adani tops Ambani as India's richest on Hurun list, SRK makes debut

Despite challenges following US-based short seller Hindenburg Research's report against his companies in January last year, billionaire Gautam Adani and his family top the 2024 Hurun India Rich List, after their wealth increased 95 per cent to ₹11.61 trillion.

2 mins

RIL to consider bonus issue of shares, a first in 7 years

Aims to be among world's top 30 firms; silent on listing of retail, telecom units

3 mins

'Jio now world's largest mobile data company'

Carries 8% of global data traffic

2 mins

Reliance Retail eyes 2x rise in biz, luxe jewellery foray

Firm's grocery business is one of the fastest-growing, says Isha Ambani

1 min

Jio Brain unveiled to streamline AI

Al technology should not be a luxury reserved for a few, says Mukesh Ambani

1 min

DGCA cracks the whip on 3 airlines

SpiceJet under 'enhanced surveillance'

1 min

Coming soon to Chennai: Nokia's mega testbed

Soon, the global vision of blazing-fast bandwidth with ultra-high-speed internet access which could revolutionise virtual reality, augmented reality, and the technology landscape - will get a Chennai touch.

2 mins

Zepto adds $340 mn to basket; valuation at $5 bn ahead of IPO

General Catalyst, Dragon Fund, Epiq Capital led the round

2 mins

CD ratios in India lower than many nations, says Ashima

The credit-deposit (CD) ratio of Indian banks is lower than several global banks, said Ashima Goyal, Professor at the Indira Gandhi Institute of Development Research, and the current member of the Reserve Bank of India's Monetary Policy Committee.

1 min

Actuarial valuation of unorganised sector pension scheme in offing

Proposal requires estimating liability on account of benefit under the PM-SYM scheme

2 mins

Fintechs can't bypass compliance irrespective of scale, says RBIED

The Reserve Bank of India (RBI) has urged fintechs not to compromise on compliance, irrespective of scale, P Vasudevan, RBI executive director, said.

1 min

Sebi Chair bats for better compliance to foster trust

Buch says received over 6,000 responses on proposed changes to curb speculation in F&O segment

2 mins

Fintechs don't have track record to evoke trust: RBI's Sankar

Fintech companies, unlike traditional financial institutions such as banks, nonbanking financial companies (NBFCs), and mutual funds, have yet to establish the trust that stems from being licensed, regulated, and having a proven track record, said T Rabi Sankar, deputy governor of the Reserve Bank of India (RBI), on Thursday.

2 mins

SBI fighting for deposits through 'service quality'

CS Setty, new chairman of State Bank of India (SBI), on Thursday said competition with other banks for deposits would not be on interest rates but the focus would be on leveraging the branch network.

2 mins

Moody's raises India's growth estimate to 7.2%

Fitch affirms sovereign credit rating at 'BBB-'

2 mins

Govt plans ₹33.5K cr boost to IT, ITeS hubs

The Uttar Pradesh government is planning to build global technology hubs with a $4 billion (about 33,500 crore) investment as it targets 10 times growth in the information technology (IT) & IT-enabled services (ITeS) sectors in five years.

1 min

Monsoon likely to be extended, threatening key grain, pulses

Monsoon rains are likely to be prolonged into late September this year due to the development of a low-pressure system in the middle of the month, two weather department officials told Reuters.

1 min

Meity plans jobs push in electronic parts PLI

The Ministry of Electronics and Information Technology (Meity) is looking at a proposal to generate 1.5-2 direct jobs for every 1 crore invested by companies under the proposed electronic components production-linked incentive (PLI) scheme.

2 mins

Durov charged for crimes committed on Telegram

Pavel Durov, the chief executive officer of Telegram, was charged in France for complicity in the spread of sexual images of children and other crimes, in a rare example of a tech leader being held liable for the way their platform is used.

1 min

Samsung's eye on Nokia mobile networks assets

Nokia Oyj's mobile networks assets are drawing preliminary interest from suitors including Samsung Electronics Co.amid increasing pressure to find new growth in the troubled telecom equipment sector, people with knowledge of the matter said.

1 min

HK convicts editors over articles on democracy activists

A Hong Kong court convicted two former editors of a shuttered news outlet on Thursday, in a sedition case widely seen as a barometer for the future of media freedoms in the city once hailed as a bastion of free press in Asia.

1 min

OpenAI nears funding at over $100 bn valuation

OpenAI is getting closer to raising funding at a valuation of more than $100 billion in a round led by Thrive Capital, people with knowledge of the matter said.

1 min

Nvidia record sales fail to impress investors

Forecast barely beating estimates stokes concerns of waning growth

2 mins

Stationed in space

Recent experience has lessons for Isro

2 mins

Will Amazon ever be Apple of India's eye?

Jeff Bezos is a bonafide global celebrity.

4 mins

Tax reform dilemmas

For a fairer, more inclusive tax system, taxing agriculture and adjusting exemptions are essential

4 mins

Ring-fencing a challenge

Industrial parks are expected to help attract investment

2 mins

PLANT-BASED LEATHER TAKING ROOT

But limited infra and lack of govt incentives driving up cost of sustainable vegan products

4 mins

India among critical tech leaders, behind only US and China in Al

Among top five countries in 45 of 64 critical technologies

2 mins

RIL, TaMorally, benchmarks at fresh highs

Equity benchmark indices Sensex and Nifty hit their all-time high levels on Thursday, driven by a rally in index majors Reliance Industries and Tata Motors.

1 min

IPOS sail strong on mkt tailwind

IPOS this year stay on course: Only 10 let Sebi approval slip- a three-year low

2 mins

Defence stocks take fire: Rally or retreat?

Period of correction follows a prolonged bull run

2 mins

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