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In an effort to cut down on fraud and tax evasion, the Indian government is allowing banks to check individual transactions that exceed a specific annual limit using facial recognition technology and, in some situations, an iris scan. One of the individuals, a banker, declined to identify the institutions but claimed that a few significant […]
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The country’s currency in circulation (CIC), which has increased by roughly 83 percent after the announcement on November 8, 2016, has increased despite the demonetization of the high-value notes of Rs. 500 and Rs. 1,000. On Monday, the Supreme Court backed the government’s decision to implement demonetization. One of the main goals of the historic […]
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Today’s gold prices in Indian markets maintained within a small range, with futures on the MCX trading between 50,065 and 50,386 rupees per gramme. In contrast, gold had closed the previous session at $50,200. Futures for silver increased by 1% from 56,640 per kilogramme. Spot gold prices were slightly higher on international markets, at $1,631.54 […]
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The oil marketing companies reduced the cost of 19 kg commercial LPG cylinders on Saturday with immediate effect (OMCs). However, domestic cylinder prices will continue to be stable. In Delhi, Kolkata, Mumbai, and Chennai, the tariffs were reduced by Rs 25.50, Rs 36.50, Rs 32.50, and Rs 35.50, respectively. A 19-kilogramme commercial LPG cylinder will […]
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Rising rates and increased energy insecurity in Europe are hurting almost every country’s growth, according to S&P Global Ratings, but India, with an anticipated 7.3% growth this fiscal, would be the “star” among emerging market economies. S&P stated in a report that global macro performance over the upcoming quarters indicates a slowdown in growth with […]
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Union Finance Minister Nirmala Sitharaman stated on Monday, April 18, that the main danger associated with cryptocurrencies is that they might be used for money laundering and terror funding, adding to the already shaky cryptocurrency sector in India. Sitharaman said, “Biggest risk of cryptocurrency could be money laundering and its use for financing terror.” “I […]
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As India’s exports reached its $400 billion merchandise target for FY2022, Prime Minister Narendra Modi hailed the achievement as an “important milestone” in the country’s “Aatmanirbhar Bharat journey” on Wednesday. The aim was met with 10 days to spare. India’s exports exceeded $400.8 billion on March 21, and total fiscal exports are likely to exceed […]
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On the BSE Sensex, the share price of Paytm plunged more than 12% to an all-time low of Rs 672 a share on Monday. Shares of One 97 Communications, Paytm’s parent firm, plummeted after the Reserve Bank of India (RBI) prohibited Paytm Payments Bank from accepting new clients and requested a thorough examination last week. […]
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The Reserve Bank of India (RBI) unveiled a unified payments interface (UPI) for feature phones on Tuesday, bringing around 400 million users of such phones into India’s domestic payments network. The RBI’s new UPI 123Pay service will allow feature phone users to make quick digital payments. RBI Deputy Governor T Rabi Sankar believes UPI for […]
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Indian stock markets: Following a 4.7% drop on Thursday, stock markets rose by 3% in the first session on Friday, as a remarkable turnaround on Wall Street following a series of severe penalties imposed by the US and other nations on Russia provided some respite to concerned investors. At 10.45 a.m. IST, the benchmark Sensex […]
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