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New Budget rules on holding firms queer pitch for sovereign, pension funds
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Read more
Air India privatisation: Pawan Ruia takes a shot at aviation with EoI
In a surprise development, Kolkata-based businessman Pawan Ruia has submitted an expression of interest to buy a 100 per cent stake in national carrier Air India. The Tata group and an employees’ consortium of Air India are the other entities to express interest. Read more
Govt to bring forward a Crypto Bill soon: Clear definitions, no grey areas
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, or Crypto Bill, will take care of which cryptocurrencies the government is seeking a ban on, with clear definitions to plug any grey areas that could possibly arise due to the evolution of technology, said a senior government official. Read more
E-commerce firms being probed on small traders' complaints: Piyush Goyal
Commerce and industry minister Piyush Goyal on Tuesday warned those companies, including multinational corporations, which are violating provisions of the e-commerce policy to mend their ways. He said various complaints given by consumers and small retailers about them are being investigated. Read more
Indian investors join the bitcoin party after Tesla CEO Musk's endorsement
The price and volume of bitcoin have surged in the domestic market in the past 15 hours after Tesla Chief Executive Officer Elon Musk’s announcement of investment in the cryptocurrency, according to Indian exchanges. Read more
Explained: How India lost out on 5G network leadership opportunity
India’s date with 5G was proclaimed with fanfare in June 2019 when Communications Minister Ravi Shankar Prasad said that spectrum for trial runs would be allocated to operators in 100 days. Twenty months later, forget spectrum auctions or the actual rollout of commercial services.
Operators are still waiting for the go-ahead for 5G trials. Read more
Crude, cracks and tax cocktail pushes India's fuel users to the brink
A recovery in international prices is expected to keep petrol and diesel prices firm in the country. This, coupled with the recent inching up of crude oil price to beyond $60 a barrel, has locked domestic petrol and diesel rates at record levels. Read more
Complaints against banks and mobile banking to RBI soar: Report
The Reserve Bank of India (RBI) on Monday released the annual report of its Ombudsman Scheme. There was an increase of 64.97 per cent in the receipt of complaints under the three ombudsman schemes, from 200,362 in 2018-19 to 330,543 in 2019-20. Of these, 86.19 per cent were received electronically and via email. Read more
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