The Times Of India Business
Not linked Aadhaar-PAN? This time it may cost you
If you are among a handful of taxpayers who haven’t linked your Permanent Account Number (PAN) with Aadhaar, it’s high time you do it. Senior tax department officials have said that this is the last extension as the government has now armed itself with powers to levy a penalty against those who are non-compliant.
Temps’ wages surge 30% on labour shortage
Increased manufacturing activity coupled with a smaller migrant workforce has resulted in a hike in the daily wage rates of temp workers. Industrial clusters are making do with only 80% of migrant workers coming back after the reverse migration seen during the lockdown. As a result, daily wages have gone up from nearly Rs 250 to Rs 350-400.
Jan Dhan a/cs prove costly for over 4 debits in month
Users of basic savings bank deposit accounts (BSBDAs) are discovering that these facilities are not designed for the digital age. These accounts, which include the crores of enrolments under the Jan Dhan Yojana schemes, were designed for four cash withdrawals in a month.
FPIs pull out Rs 941 crore in April
It’s still early days, but recent moves by foreign portfolio investors (FPIs) are worrying traders on Dalal Street. After pumping nearly Rs 55,700 crore till date in the calendar year 2021, FPIs — the most influential investor group in India — have taken out Rs 941 crore from India so far in April.
Infosys plans share buyback of up to Rs 12,000cr
The Infosys board is considering a share buyback proposal on Wednesday that would be the Bengaluru-based IT services company’s third in less than five years. Sources told TOI that the size of the buyback could be between Rs 10,000-12,000 crore, and at a price of Rs 1,650-1,670 apiece. On Friday, the Infosys stock closed at Rs 1,441 on the BSE.
Hackers hit Upstox, data of 25 lakh stolen
Hackers have breached security systems at Upstox, the country’s second-largest stockbroker in terms of the number of customers, and stole KYC and other data of about 25 lakh of its customers. Post the data breach, the company on its website said all of the customers’ shares and funds were safe and it has enhanced the security system at its servers.
Govt may hike FDI limit in pension sector to 74%;
Last month, Parliament approved a Bill to increase FDI limit in the insurance sector from 49 per cent to 74 per cent. The Insurance Act, 1938 was last amended in 2015 which raised FDI limit to 49 per cent, resulting in foreign capital inflow of Rs 26,000 crore in the last 5 years.
With RBI keeping interest rates on hold, quantitative easing to unfold: Fitch
Fitch Solutions has revised its forecast for the Reserve Bank of India (RBI) to keep its policy repurchase (repo) rate on hold at 4 per cent over the course of FY22 (April 2021 to March 2022) from its prior view for a 25 basis points cut to 3.75 per cent.
India forms air bubble with Sri Lanka
India has formed an air bubble with Sri Lanka, opening yet another overseas tourist destination for those itching to travel after a year of being at home. Till now only a few places were open for overseas tourists -- including Indians -- namely Maldives, UAE, Seychelles and Russia.
E-commerce to accelerate auto sector growth: Report
Strong acceptance of e-commerce and digitisation is expected to accelerate the growth of auto sector, advisory firm Grant Thornton Bharat said. Accordingly, the automobile market is estimated to grow more than '2.3 times' from $222 billion currently to $512 billion by 2026.
India needs to grow faster to make up for contraction: IMF
India, which is projected to grow at an impressive rate of 12.5 per cent this year, needs to grow at a much faster pace to make up for the unprecedented contraction of eight per cent that it clocked during the Covid-19 pandemic in 2020, according to a senior IMF official.