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BusinessToday.In
New Delhi, July 20, 2018
In a letter to the chief executives of banks, the finance ministry said that the banks should start providing NFC-enabled credit and debit cards as it is the next generation of innovation in plastic money.


Prosenjit Datta
New Delhi, July 19, 2018
The true extent of the NPA problem only started becoming clear once then RBI governor Raghuram Rajan initiated the Asset Quality Review (AQR) in 2015


Sonal Khetarpal
New Delhi, July 19, 2018
Dr Brad Shuck, Associate Professor of Organizational Leadership & Learning at University of Louisville, Kentucky speaks to Business Today on the importance of treating employees with dignity and giving them recognition that is personal and in real time.


BusinessToday.In
July 19, 2018
Justice BN Srikrishna Committee, which is drafting India's data protection and privacy law, is reportedly miffed at the timing of suggestions issued by the telecom regulator.


BusinessToday.In
July 19, 2018
The FRDI Bill, introduced in the Lok Sabha last August, had drawn protests from the Opposition, the bank unions and the public alike over its 'bail-in' clause, which was feared as harming the interest of depositors.


Devika Singh
New Delhi, July 18, 2018
About 62 per cent of the respondents reported verbal harassment at workplace, followed by non-verbal staring stalking (53 per cent), gossiping rumours (45 per cent), physical (29 per cent), consensual relationships going bad (25 per cent) and social media (24 per cent).


E Kumar Sharma
New Delhi, July 18, 2018
Those within the pharma industry see a couple of messages coming across from the movie.


Sumant Banerji
New Delhi, July 18, 2018
The move, the first in over three decades, will likely to result in greater cost efficiencies for logistic companies as they would be able to ferry more goods per trip.


Sumant Banerji
New Delhi, July 18, 2018
BMW Motorrad, the superbike arm of the German luxury car giant on Wednesday launched its most affordable and small superbike yet -- the G310R and G310S at Rs 2.99 lakh and Rs 3.49 lakh respectively.


BusinessToday.In
July 18, 2018
The move comes after liquor baron Vijay Mallya, PNB scam accused diamantaire Nirav Modi and Mehul Choksi gave a slip to the authorities.


BusinessToday.In
New Delhi, July 18, 2018
Walmart might even bring in talent from its Asda unit in UK that it had sold to rival, Sainsbury for $10 billion in April.


Sumant Banerji
New Delhi, July 17, 2018
India's largest iron ore miner National Mineral Development Corporation and Manganese Ore India Ltd have already introduced the pension scheme to its employees.


E Kumar Sharma
New Delhi, July 17, 2018
For the moment, analysts and management experts point to some lessons that many of the IT sector players, could pick up from the results of these two important Indian IT companies.


BusinessToday.In
New Delhi, July 17, 2018
Changes in visa rules to have serious adverse consequences on US economy: Nasscom  Indian IT body Nasscom has said the recent work visa-related changes announced by the US will have \"potentially serious adverse consequences\" on the American economy as it will make it more difficult for companies to employ skilled foreign nationals to fill critical skills gaps in the US. One of the changes, which come into effect on September 11, allows US Citizenship and Immigration Services (USCIS) adjudicators full discretion to deny applications, petitions, and requests without first issuing a Request for Evidence (RFE) or Notice of Intent to Deny (NOID).  People should have rights over their data; firms mere custodians: Trai  Trai has said firms collecting user data don't have a right over it and emphasised that consumers' consent should be mandatory and they should also be given the 'Right to be Forgotten'. Terming the existing data protection framework as inadequate, the Telecom Regulatory Authority of India (Trai) recommended to DoT that companies should not use meta-data to identify users and should disclose any data breaches. It said entities controlling and processing user data are \"mere custodians\" and all of them should be brought under a data protection framework.  Jaypee ready to sell cement business to refund homebuyersJaiprakash Associates Limited (JAL) pleaded before the Supreme Court on Monday that the company would deposit another Rs 600 crore to refund homebuyers if it was allowed to dispose of its identified assets, which included a cement plant at Rewa in Madhya Pradesh. Senior advocate Fali S Nariman, counsel for JAL, informed a bench headed by Chief Justice Dipak Misra that the Noida-based real estate company has already deposited Rs 750 crore with the Supreme Court's registry and it would pay another Rs 600 crore in seven instalments for paying the principal amount to the homebuyers.ICICI Bank decides to postpone AGM by a month  ICICI Bank has decided to postpone its annual general meeting (AGM) by a month amidst independent enquiry on alleged cases of impropriety against the bank's CEO Chanda Kochhar. The meeting has been rescheduled to September 12. Meanwhile, Kochhar has gone on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon. Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities, including the Videocon group. Multiple agencies, including the CBI and regulator Sebi, are already probing the alleged lapses involving Kochhar and her family members. SBI tells its 70,000 employees to return 'compensation' paid for working overtime during note banMore than 70,000 employees of associate banks of the State Bank of India are angry. Banking staff worked overtime post-demonetisation to meet the demands of long queues of people waiting to exchange old notes with the new ones. The bank staff had been promised \"overtime compensation\" by the employer banks for the \"extra hours\" they worked post-demonetisation. The 70,000 officers and employees of banks like State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur - these all merged with the SBI on April 1, 2017 - got the compensation but now they are being asked to \"return the compensation for extra work\". IMF warns of rising risks to global growth amid trade tensions  The global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook, the International Monetary Fund has said. The IMF's updated World Economic Outlook (WEO) forecast global growth of 3.9 per cent this year and next, despite sharp downgrades to estimates for Germany, France and Japan. The US economy is still seen growing by 2.9 per cent this year, and the estimate for China remains 6.6 per cent, with little impact expected near term from the tariffs on tens of billions of dollars in exports the countries have imposed on each other so far.


Mail Today Bureau
July 17, 2018
The next step for LIC is to approach market regulator Sebi, as the bank, which is also state-owned, is a listed entity. Insurance regulator IRDAI has already given its approval to the insurer for the stake purchase.


BusinessToday.In
New Delhi, July 16, 2018
According to a survey conducted by a global consulting firm EY, over 70 per cent of Indian respondents see data protection and data privacy compliance as increasing areas of concern while 46 per cent are worried about cyber breach and insider threats.


BusinessToday.In
New Delhi, July 16, 2018
PNB's NPA recovery in first quarter tops FY'18 level  Scam-hit PNB's recovery of over Rs 7,700 crore in bad loans during the first quarter in the current fiscal has surpassed the total amount it recovered in the entire 2017-18 financial year, indicating that it has embarked on the turnaround path, the bank's top official has said. The Insolvency and Bankruptcy Code (IBC) resolution process has greatly helped Punjab National Bank, which was hit by nearly USD 2 billion fraud allegedly carried out by jeweller Nirav Modi and his associates, he said. \"In the first quarter itself, 2-3 big accounts have been resolved. As a result, the bank has got over Rs 3,000 crore only through the resolution process,\" PNB Managing Director Sunil Mehta told PTI. Govt sets up 10-member panel to review penal provisions under companies lawThe Ministry of Corporate Affairs on Sunday announced that it has constituted a 10-member committee to review the penal provisions under the companies law and examine decriminalisation of certain offences. The high-level committee, chaired by Corporate Affairs Secretary Injeti Srinivas, would submit its report in 30 days to the government. The Ministry of Corporate Affairs seeks to review offences under the Companies Act, 2013 as some of the offences may be required to be decriminalised and handled in an in-house mechanism, where a penalty could be levied in instances of default. De Beers to focus on smaller cities in India for expansion Global diamond producer De Beers is looking to partner local retailers in smaller cities to boost sales which it claims grew at 100 per cent last year. The company sells its diamond jewellery through250 partnered retail stores in the country under the brand 'Forevermark'. Sales during January-June, 2018 remained robust and the overall sales volumes may double as compared to the last year.The Forevermark brand has 30 per cent market share in India. EU urges big powers to prevent trade 'conflict and chaos'  The European Union has called on the United States, China and Russia to work together to avoid trade \"conflict and chaos\" to prevent it spiralling into violent confrontation. \"It is the common duty of Europe and China, but also America and Russia, not to destroy (the global trade order) but to improve it, not to start trade wars which turned into hot conflicts so often in our history,\" EU Council President Donald Tusk said in Beijing. The EU -- the world's biggest single market with 28 countries and 500 million people -- is trying to buttress alliances in the face of the protectionism unleashed by US President Donald Trump's \"America First\" administration. China economic growth slows to 6.7 pc in second quarter  Chinese growth slowed slightly in the second quarter as the world's number two economy faced a snowballing trade fight with the United States. The economy expanded by 6.7 per cent in April-June, down from 6.8 per cent in the first quarter and in line with a 6.7 per cent rate tipped in an AFP survey of economists. Despite the quarterly deceleration, growth was still higher than the annual target of around 6.5 per cent set by the government.


Mail Today Bureau
July 16, 2018
The Ministry of Corporate Affairs seeks to review offences under the Companies Act, 2013 as some of the offences may be required to be decriminalised and handled in an in-house mechanism, where a penalty could be levied in instances of default.


BusinessToday.In
July 15, 2018
In last one year of GST regime, the revenue authorities have come across numerous cases of tax evasion where companies used fake bills to claim input tax credit.


PTI
July 15, 2018
After the data breach came to light, the Ministry had in March and April this year shot off communications to Facebook and Cambridge Analytica seeking clarification on the issue from them.


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