UPI Lite's purpose is to enable users to conduct small-value transactions seamlessly without facing banks' occasional processing failures.
Updated : Aug 10, 2023

RBI raises payment limit on UPI lite from Rs 200 to Rs 500 without pin

The central bank also allowed offline payment on UPI by using near-field communication.

MoS Health and Family Welfare SP Baghel informed the Upper House that total 24.33 crore Ayushman Bharat cards have been created under the scheme as of August 1, 2023
Updated : Aug 09, 2023

Ayushman Bharat: Patients shown as ‘dead’ getting treatment; 9.85 lakh AB-PMJAY beneficiaries linked to same mobile number, says CAG report  

The CAG has found glaring loopholes with regards to various aspects of the Ayushman Bharat-Pradhan Mantri Jan Aarogya Yojana (AB-PMJAY) scheme. From patients shown as ‘dead’ getting treatment to multiple beneficiaries being linked to the same mobile number, here are some findings of the CAG report.

Show cause notices have been issued to these companies and investigation has been initiated, Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, said
Updated : Jul 22, 2023

Xiaomi, Oppo, Vivo and Lenovo being probed for alleged GST evasion, says Centre

In a reply to an unstarred question in the Rajya Sabha, Rajeev Chandrasekhar, minister of state for electronics and IT, said that the companies are being persuaded to deposit the tax amount/ interest/ penalty as applicable

Karnataka Chief Minister Siddaramaiah is scheduled to launch the registration process at a programme in Vidhana Soudha today.
Updated : Jul 19, 2023

Karnataka: Siddaramaiah govt to kickstart registration for Rs 24k-cr Gruha Lakshmi scheme today

Earlier this month, while presenting the state budget for this fiscal, Siddaramaiah allocated an amount of Rs 24,166 crore for the Gruha Lakshmi scheme for this fiscal.

Import of cancer medicine Dinutuximab (Qarziba) by individuals for personal use attracts 12 per cent IGST at present.
Updated : Jul 07, 2023

GST Council meeting: Panel may consider exempting IGST on cancer drug import

The Fitment Committee has recommended that the medicine, which costs Rs 36 lakh, should be exempted from GST as patients and families usually raise money through crowdfunding to buy it.

RBI issues draft circular for credit card network portability
Updated : Jul 05, 2023

RBI issues draft circular for credit card network portability

RBI’s latest circular will allow customers to change the card network (e.g. RuPay, Visa, Mastercard, etc.) on their prepaid, debit and credit cards

The GST Act was passed in the Parliament on March 29, 2017, and came into effect on July 1, 2017.
Updated : Jun 20, 2023

India Inc. calls for second phase of GST reforms for ease of doing business, says Deloitte survey

The survey said 80 per cent of business leaders in India have expressed that the time is ripe for the next phase of GST regime reforms for enhanced ease of doing business (EoDB) and sectoral growth in the next few years.

The PLI scheme for mobile phones was notified on April 1, 2020
Updated : Jun 16, 2023

'False data': MoS IT Rajeev Chandrasekhar slams ex-RBI governor Raghuram Rajan for criticising PLI scheme for mobile phones

Last month, Raghuram Rajan, in a LinkedIn post, questioned the outcome of the PLI scheme for mobile phones as companies continue to import most of the components

The 50th meeting of the GST Council will be held on 11th July, 2023 at Vigyan Bhawan, New Delhi
Updated : Jun 16, 2023

GST Council meet in July: Taxation on online gaming, racing, casinos to be discussed

The official added that the GST Council may not consider any major rate rationalisation exercise, including slashing of GST rate on cement.

The app-based aggregators were prevented from plying bike taxis on the road without commercial permits.
Updated : Jun 13, 2023

Delhi city authorities to impound bike taxis if aggregators do not comply with ban: Report

On Monday, the apex court said since the Delhi government is currently formulating a policy for granting licenses to taxi aggregators, the High Court's stay on the notification banning bike taxis in the capital was not required at this point in time.

The free electricity scheme is applicable only to domestic connections.
Updated : Jun 06, 2023

Free electricity scheme in Karnataka: Siddaramaiah govt issues fresh guidelines for scheme with caps, clauses

Gruha Jyothi scheme is one of the five poll guarantees that the Congress party had proposed in its election manifesto. The guarantee offers up to 200 units of electricity free of cost to domestic consumers.

Sebi chairperson Madhabi Puri Buch
Updated : May 31, 2023

Sebi chief Madhabi Puri Buch insists on setting up ethics committee to check misconduct in MF industry

Buch, while opening the Association of Mutual Funds (AMFI) in India’s new office at Mumbai's Bandra-Kurla complex, said if the AMFI fails to adopt self-regulation measures, Sebi will have step in to ensure investor protection.

In 2022, the RBI floated the digital Rupee, and proposed to issue two versions of the Digital Rupee -- CBDC-Wholesale (CBDC-W) and CBDC-Retail (CBDC-R).
Updated : May 30, 2023

RBI says it would expand e-Rupee pilot to include more banks, locations in FY24

In its annual report, the central bank said: "During 2023-24, the RBI aims at expanding the ongoing pilots in CBDC-Retail and CBDC-Wholesale by incorporating various use cases and features." 

The Budget 2023-24 hiked TCS rates to 20 per cent, from 5 per cent currently, on overseas tour packages and funds remitted under LRS (other than for education and medical purposes). The new tax rates will come into effect from July 1, 2023.
Updated : May 18, 2023

International credit cards usage to be under RBI's remittance scheme

According to a Finance Ministry notification, an Indian resident can remit money abroad up to a maximum of $2.50 lakh per annum without the authorisation of the RBI. Any remittance beyond that in foreign currency would require approval from the RBI.

Sequoia Climate Foundation is a non-profit organisation based in Calirfornia
Updated : May 17, 2023

Sequoia Climate Foundation under Centre’s radar, says report

California-headquartered Sequoia Climate Foundation, which was set up in 2020, basically focuses on bold and ambitious strategies that are needed to avoid dangerous climate tipping points in a world powered by clean energy.

CDSCO considers testing cough syrups before export, says report
Updated : May 16, 2023

CDSCO considers testing cough syrups before export, says report

As per WHO, syrups exported by Indian manufacturers, Maiden Pharmaceuticals Ltd and Marion Biotech, were contaminated by lethal toxins

(Image: Reuters)
Updated : May 15, 2023

G7 leaders to target Russian energy, trade in new sanctions steps

New measures announced by the leaders during the May 19-21 meetings will target sanctions evasion involving third countries, and seek to undermine Russia's future energy production and curb trade that supports Russia's military.

Director general of ISpA, Lt Gen (Retd) Anil Kumar Bhatt says an early approval of the Space Activity Bill would be the next logical step in ensuring a global acceptance of the Indian space sector
Updated : Apr 28, 2023

Clear Space Activity Bill to further reinforce Space Policy, says apex industry body head

Director general of ISpA, Lt Gen (Retd) Anil Kumar Bhatt says an early approval of the Space Activity Bill would be the next logical step in ensuring a global acceptance of the Indian space sector

Earlier this year, Railways Ministry said that Indian Railways may soon restore senior citizen concession
Updated : Apr 28, 2023

SC turns down petition seeking to restore concession for senior citizens on rail ticket prices

Before the Covid lockdown, IRCTC used to grant concession in the fares of Male Senior Citizens of minimum of 60 years and Female Senior Citizen of minimum of 58 years. The concessions were discontinued during Covid in order to stem the spread of the disease.

As per the trade agreement with UAE, India can import 140 MT in 2023-24 at a one per cent duty concession
Updated : Apr 28, 2023

Govt will open special window to allow import of 140 mt gold from UAE at concessional rate

Gold tariff rate quota (TRQ) will be allocated to old and new applicants as per the revised simpler eligibility norms and lesser compliance burden for Indian importers, DGFT Santosh Sarangi said on Thursday.

Rahul Gandhi's plea to stay conviction dismissed
Updated : Apr 20, 2023

'Not an ordinary person’: What Surat Court said as it dismissed Rahul Gandhi’s plea for conviction stay

Rahul Gandhi's plea dismissed: It said that the power to suspend or stay convictions must be exercised with caution or it could have a serious impact on the public perception on the justice delivery systems and “shake public confidence in judiciary”.