-The Financial Express As per the fresh proposal, citizens were also required to pay a service charge on all cash transactions above Rs 2 lakh. In a bid to curb black Money as well as to limit the number and amount of cash transactions, the government has come out with some new rules and prohibited some types of cash payments. It may be recalled that the government had in March this year...
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99% of junked Rs 500/1000 notes returned to banks: RBI
-PTI As much as 99 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, RBI said today, prompting opposition to question the efficacy of the government's unprecedented note ban decision to curb black Money and corruption. The Reserve Bank, which has so far shied away from disclosing the actual number of junked currency deposited after November 8 last year, said in its Annual Report...
More »Panel makes Ponzi firms pay -Lalmohan Patnaik and Subrat Das
-The Telegraph Cuttack: What the state government failed to do, the Justice Madan Mohan Das Commission did. The commission, which is identifying small investors duped by dubious financial companies, has on its own ensured return of the invested amount usurped by sham companies to more than 1,200 persons even as the government continues to drag its feet on the issue. Some of the investors got their Money on Tuesday. Though the number of...
More »Govt mulling 2% relief on GST for digital payments -Pankaj Doval
-The Times of India NEW DELHI: You may soon need to shell out less if you pay digitally. The government is looking at giving a 2% incentive over the applicable GST tax rate in case of digital payments where the bill is up to Rs 2,000, in a move aimed at discouraging cash payments. According to sources, the proposal - which may give the benefit in the form of a discount or...
More »Why govt-subsidised Amma, Indira canteens are lifesavers -Reetika Khera
-Hindustan Times After Tamil Nadu’s pioneering Amma canteens, many states have started community kitchens, such as Karnataka’s Indira Canteens. This is a welcome development. The first coverage of the recently inaugurated “Indira canteens” in Karnataka that I noticed were two reports on television channels. Both were poking fun (justifiably) at Rahul Gandhi’s goofy speech at the launch. Sadly though, neither commented on the rationale or importance of the Karnataka government’s initiative. This...
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