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Why India Should Introduce Inheritance Tax Now?

More than the world numbers, the wealth concentration in few individuals in India is alarming with merely 84 billionaires owning wealth worth $248 billion, led by Mukesh Ambani ($9.3 billion), ...

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Will India Ever Become a Cashless Economy?

An unfortunate customer visited a MORE store that belongs to Aditya Birla group in December last year and made a purchase for Rs.107. When his debit card was swiped, the ...

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Demonetisation – A Look Back at the last Two Months

    *By Arun Jaitley Two months have passed since the Prime Minister announced the decision that high denominational currency notes would cease to be a legal tender. Subsequently those ...

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Indian Microfinance in 2016 – A Timeline

The year 2016 has been a mix of good news and bad news for the microfinance sector in India with impressive Ujjivan and Equitas IPOs and acquisitions but clouded in ...

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PM’s Yearend ‘Mann Ki Baat’ Focuses on Cashless Payments, Awards

Coinciding with Christmas, PM Narendra Modi listed ‘Lucky Grahak Yojana’ for small buyers and ‘Digi Dhan Vyapaar Yojana’ for traders to encourage cashless payment economy. “To strengthen mobile banking and ...

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Cyrus Mistry Bows Out of Tata Group Companies, Lists Reasons

Cyrus Mistry has finally bowed to the pressure to exit from Tata Sons on Monday, October 24, 2016 but said his legal battle will continue. Here is his statement in ...

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Demonetisation: Ministry Thanks Banks Which Failed People, Diverted New Notes to Black Money Holders

The Finance Ministry has appreciated the role played by the banks post-demonetisation especially when the old currency was accepted and till 24th November, 2016, when exchange of old currency to ...

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Govt Unveils Package for Promotion of Digital and Cashless Economy

To further accelerate the cashless economy, in the aftermath of the cancellation of the legal tender character of old Rs.500 and Rs.1,000 notes,  the Central Government has decided on a ...

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Aadhar Architect Nandan Nilekani to Advise on Digital Payments Mode

India’s architect of Aadhar Card as former UIDAI chief, Nandan Nilekani, has a new role in NDA government as a special invitee in the 13-member committee of chief ministers to ...

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Post-Demonetisation, Swift IT Raids Greet 400 Cases

Income Tax (IT) Department has carried out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016. More than Rs. ...

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Earn Honestly, Pay Taxes Honestly, says Minister

Union Minister (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal, addressing a gathering comprising of the trader fraternity at the Less-Cash India Summit, said the ...

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Sleep Deprivation Costs US $411 Billion Annually, Japan 138 Billion

Sleep Deprivation or lack of sleep among the U.S. working population is costing the economy up to $411 billion a year, which is 2.28 percent of the country’s GDP, said ...

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1 Million British Indians Rattled by Note Ban, Seek Recourse

Taking Indian currency out of India is banned as per the law but many NRIs and those who return in few days do carry Indian currency and the practice has ...

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RBI Cracks Whip on Jan Dhan Yojana Bank Accounts, Now it Takes 2 Years to Get Back Rs.2 Lakh Deposited

As Jan Dhan Yojana accounts meant for the unbanked rural people came under the black money purview with mysterious increase of 60% after demonetisation amounting to Rs.72,834 crore worth deposits ...

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India Registers Decline in Export of Gems and Jewellery

According to DGCI&S data, the gems and jewellery exports has been showing positive growth since January, 2016. From December, 2014 to December, 2015 gems and jewellery exports were showing decline ...

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India Revamps Insolvency Scheme, Sets up New Board

Union Minister of Finance and Corporate Affairs Arun Jaitley has unveiled a new initiative by setting-up the Insolvency and Bankruptcy Board of India (IBBI) that he said was done by ...

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What’s India’s Share in Global Trade?

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India’s performance in World trade based on the WTO database which provides the data calendar year-wise is given shows that India’s share in global trade is a pittance at 1.6%, said ...

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Declaration of Undisclosed Black Money far less than what’s declared after Demonetisation

A total number of 64,275 declarants have made declaration of undisclosed income of Rs.65,250 crore under the Income Declaration Scheme, 2016, which is far less than what’s been unearthed in ...

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Clearance Given for 18 New Domestic and International Airports

As per the Greenfield Airports Policy- 2008, Ministry of Civil Aviation (MoCA) accords two stages clearances i.e. “site clearance” followed by “in-principle” approval for Greenfield airports. MoCA has granted ‘in ...

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Demonetisation Temporary Solution to End Black Money: Prof. Yunus

As experts are cautiously making their views known about the demonetisation move of India, microfinance founder and Nobel laureate Prof. Muhammad Yunus said on Saturday that it was a temporary ...

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