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IndiaTV Business: Google News Feed: Digest for March 30, 2023

IndiaTV Business: Google News Feed

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In the Finance Bill 2023, passed by Lok Sabha on March 24, the government suggested raising the securities transaction tax on futures and options (F&O) contracts. The new development is expected to increase the trading costs in the derivatives segment as well as help in curbing excessive trades.
SBV Crisis: North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world.
India will be looking to push the rupee trade agenda with foreign countries during the G-20 meetings it is going to organise as part of its ongoing presidency of the forum, a senior bureaucrat said.
World's largest cryptocurrency exchange, Binance, has been sued by the United States Commodity Futures Trading Commission (CFTC) along with its founder and CEO, Changpeng Zhao, over several federal law violations. The Federal regulator has brought a slew of allegations, including illegal operations in the U.S., and improper application of 'Know Your Customer' (KYC) guidelines. Zhao has called the civil complaint from CFTC as 'disappointing and unexpected'. Binance was banned in the United States in 2019 over regulatory issues. 

Gold observes fall in its price after a constant weekend

Tuesday 28 March 2023 04:45 AM UTC+00
Prices fall for both pure gold and standard gold across the country. 
Employees' Provident Fund Organisation (EPFO) on Tuesday fixed an 8.15% rate of interest on employees' provident fund (EPF) deposits for the fiscal year 2022-23. Earlier in March 2022, the EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1% for its about five crore subscribers, from 8.5%  in 2020-21. According to reports, this was the lowest since 1977-78, when the EPF interest rate stood at 8%
Disney Layoff News: According to a letter sent by Disney CEO Bob Iger to employees of Walt Disney Co, the company will start notifying the first group of affected employees about the upcoming layoffs in the next four days. The job cuts, aimed at reducing costs and streamlining the business, will impact several major divisions including Disney Entertainment, Disney Parks, Experiences and Products, and corporate. The first round of layoffs, totaling 7,000 employees, began on Monday. A larger round of job cuts, affecting several thousand more employees, will take place in April. The final round is expected to start before the summer.

Date for linking PAN-Aadhaar extended: Check new date

Tuesday 28 March 2023 10:14 AM UTC+00
PAN-Aadhaar Linking: In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to June 30, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing repercussions, the Income Tax department informed on Tuesday. 
Medicine price hike news: Starting in April, consumers in India will face higher prices for essential medicines, including painkillers, anti-infectives, cardiac drugs, and antibiotics. Government has allowed drug companies to increase prices in line with the change in the annual Wholesale Price Index (WPI). The National Pharmaceutical Pricing Authority (NPPA), the drug prices regulator, revealed that the annual change in WPI, as notified by the government, was 12.12% in 2022. 

India to continue wheat export ban until THIS time: FCI

Tuesday 28 March 2023 02:18 PM UTC+00
India on Tuesday clarified that it will not resume the export of wheat until it feels the country is comfortable with domestic supplies. Food Corporation of India chief Ashok K Meena asserted that wheat production will not be affected due to recent rains and added the country is confident of achieving the output target.
India will be looking to push the rupee trade agenda with foreign countries during the G-20 meetings it is going to organise as part of its ongoing presidency of the forum, a senior bureaucrat said.
World's largest cryptocurrency exchange, Binance, has been sued by the United States Commodity Futures Trading Commission (CFTC) along with its founder and CEO, Changpeng Zhao, over several federal law violations. The Federal regulator has brought a slew of allegations, including illegal operations in the U.S., and improper application of 'Know Your Customer' (KYC) guidelines. Zhao has called the civil complaint from CFTC as 'disappointing and unexpected'. Binance was banned in the United States in 2019 over regulatory issues. 

Gold observes fall in its price after a constant weekend

Tuesday 28 March 2023 04:45 AM UTC+00
Prices fall for both pure gold and standard gold across the country. 
Employees' Provident Fund Organisation (EPFO) on Tuesday fixed an 8.15% rate of interest on employees' provident fund (EPF) deposits for the fiscal year 2022-23. Earlier in March 2022, the EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1% for its about five crore subscribers, from 8.5%  in 2020-21. According to reports, this was the lowest since 1977-78, when the EPF interest rate stood at 8%
Disney Layoff News: According to a letter sent by Disney CEO Bob Iger to employees of Walt Disney Co, the company will start notifying the first group of affected employees about the upcoming layoffs in the next four days. The job cuts, aimed at reducing costs and streamlining the business, will impact several major divisions including Disney Entertainment, Disney Parks, Experiences and Products, and corporate. The first round of layoffs, totaling 7,000 employees, began on Monday. A larger round of job cuts, affecting several thousand more employees, will take place in April. The final round is expected to start before the summer.

Date for linking PAN-Aadhaar extended: Check new date

Tuesday 28 March 2023 10:14 AM UTC+00
PAN-Aadhaar Linking: In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to June 30, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing repercussions, the Income Tax department informed on Tuesday. 
Medicine price hike news: Starting in April, consumers in India will face higher prices for essential medicines, including painkillers, anti-infectives, cardiac drugs, and antibiotics. Government has allowed drug companies to increase prices in line with the change in the annual Wholesale Price Index (WPI). The National Pharmaceutical Pricing Authority (NPPA), the drug prices regulator, revealed that the annual change in WPI, as notified by the government, was 12.12% in 2022. 

India to continue wheat export ban until THIS time: FCI

Tuesday 28 March 2023 02:18 PM UTC+00
India on Tuesday clarified that it will not resume the export of wheat until it feels the country is comfortable with domestic supplies. Food Corporation of India chief Ashok K Meena asserted that wheat production will not be affected due to recent rains and added the country is confident of achieving the output target.
FTX founder, Sam Bankman-Fried has been accused of bribing Chinese officials with 40 million dollars for gaining access to frozen crypto assets worth over one billion dollars in value. The founder is facing several charges after the crypto exchange firm faced an equivalent of a bank run in November 2022 and soon filed for bankruptcy afterward. 
Gold prices today: In India, both 24 and 22 carat gold prices have fallen over the past day. As of Wednesday, March 29, ten grams of 24 carat gold cost Rs 59,450, while 10 grams of 22 carat gold cost Rs 54,500.
Disney Layoff News: According to a letter sent by Disney CEO Bob Iger to employees of Walt Disney Co, the company will start notifying the first group of affected employees about the upcoming layoffs in the next four days. The job cuts, aimed at reducing costs and streamlining the business, will impact several major divisions including Disney Entertainment, Disney Parks, Experiences and Products, and corporate. The first round of layoffs, totaling 7,000 employees, began on Monday. A larger round of job cuts, affecting several thousand more employees, will take place in April. The final round is expected to start before the summer.

Date for linking PAN-Aadhaar extended: Check new date

Tuesday 28 March 2023 10:14 AM UTC+00
PAN-Aadhaar Linking: In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to June 30, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing repercussions, the Income Tax department informed on Tuesday. 
Medicine price hike news: Starting in April, consumers in India will face higher prices for essential medicines, including painkillers, anti-infectives, cardiac drugs, and antibiotics. Government has allowed drug companies to increase prices in line with the change in the annual Wholesale Price Index (WPI). The National Pharmaceutical Pricing Authority (NPPA), the drug prices regulator, revealed that the annual change in WPI, as notified by the government, was 12.12% in 2022. 

India to continue wheat export ban until THIS time: FCI

Tuesday 28 March 2023 02:18 PM UTC+00
India on Tuesday clarified that it will not resume the export of wheat until it feels the country is comfortable with domestic supplies. Food Corporation of India chief Ashok K Meena asserted that wheat production will not be affected due to recent rains and added the country is confident of achieving the output target.
FTX founder, Sam Bankman-Fried has been accused of bribing Chinese officials with 40 million dollars for gaining access to frozen crypto assets worth over one billion dollars in value. The founder is facing several charges after the crypto exchange firm faced an equivalent of a bank run in November 2022 and soon filed for bankruptcy afterward. 
Gold prices today: In India, both 24 and 22 carat gold prices have fallen over the past day. As of Wednesday, March 29, ten grams of 24 carat gold cost Rs 59,450, while 10 grams of 22 carat gold cost Rs 54,500.
The IPO of MOS Utility will open for subscription on March 31. The subscription window will remain open till April 6. The company has fixed the price band of Rs 72 to 76 per share. The IPO comprises 65,74,400 equity shares of face value of Rs 10 each. While 57,74,400 equity shares are fresh issue, 8,00,000 equity shares are Offer For Sale by the promoters.
ITR filing deadline: The deadline for filing Income Tax Returns (ITR) for income earned in the financial year 2022-2023 is July 31, 2023, as per the usual schedule. As the ITR filing season approaches, it is essential for taxpayers to be aware of important details such as when to file their ITR and how to go about it. In this regard, here is all the necessary information to assist taxpayers in their ITR filing process.
UPI transaction charges: The National Payments Corporation of India (NPCI) has suggested the implementation of an interchange fee for Prepaid Payment Instruments (PPIs) on Unified Payments Interface (UPI) transactions exceeding Rs 2,000. The proposal recommends an interchange fee of up to 1.1 percent with the objective of boosting revenue for banks and payment service providers who have faced significant costs in facilitating UPI transactions. The NPCI has set a deadline for reviewing the interchange pricing, which is September 30, 2023.
Goldman Sachs, an investment banking company, has predicted that Artificial Intelligence (AI) could replace as many as 300 million (30 crore) full-time jobs, as various sectors see the adaption of AI in multiple industries in the future.
Disney Layoff News: According to a letter sent by Disney CEO Bob Iger to employees of Walt Disney Co, the company will start notifying the first group of affected employees about the upcoming layoffs in the next four days. The job cuts, aimed at reducing costs and streamlining the business, will impact several major divisions including Disney Entertainment, Disney Parks, Experiences and Products, and corporate. The first round of layoffs, totaling 7,000 employees, began on Monday. A larger round of job cuts, affecting several thousand more employees, will take place in April. The final round is expected to start before the summer.

Date for linking PAN-Aadhaar extended: Check new date

Tuesday 28 March 2023 10:14 AM UTC+00
PAN-Aadhaar Linking: In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to June 30, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing repercussions, the Income Tax department informed on Tuesday. 
Medicine price hike news: Starting in April, consumers in India will face higher prices for essential medicines, including painkillers, anti-infectives, cardiac drugs, and antibiotics. Government has allowed drug companies to increase prices in line with the change in the annual Wholesale Price Index (WPI). The National Pharmaceutical Pricing Authority (NPPA), the drug prices regulator, revealed that the annual change in WPI, as notified by the government, was 12.12% in 2022. 

India to continue wheat export ban until THIS time: FCI

Tuesday 28 March 2023 02:18 PM UTC+00
India on Tuesday clarified that it will not resume the export of wheat until it feels the country is comfortable with domestic supplies. Food Corporation of India chief Ashok K Meena asserted that wheat production will not be affected due to recent rains and added the country is confident of achieving the output target.
FTX founder, Sam Bankman-Fried has been accused of bribing Chinese officials with 40 million dollars for gaining access to frozen crypto assets worth over one billion dollars in value. The founder is facing several charges after the crypto exchange firm faced an equivalent of a bank run in November 2022 and soon filed for bankruptcy afterward. 
Gold prices today: In India, both 24 and 22 carat gold prices have fallen over the past day. As of Wednesday, March 29, ten grams of 24 carat gold cost Rs 59,450, while 10 grams of 22 carat gold cost Rs 54,500.
The IPO of MOS Utility will open for subscription on March 31. The subscription window will remain open till April 6. The company has fixed the price band of Rs 72 to 76 per share. The IPO comprises 65,74,400 equity shares of face value of Rs 10 each. While 57,74,400 equity shares are fresh issue, 8,00,000 equity shares are Offer For Sale by the promoters.
ITR filing deadline: The deadline for filing Income Tax Returns (ITR) for income earned in the financial year 2022-2023 is July 31, 2023, as per the usual schedule. As the ITR filing season approaches, it is essential for taxpayers to be aware of important details such as when to file their ITR and how to go about it. In this regard, here is all the necessary information to assist taxpayers in their ITR filing process.
UPI transaction charges: The National Payments Corporation of India (NPCI) has suggested the implementation of an interchange fee for Prepaid Payment Instruments (PPIs) on Unified Payments Interface (UPI) transactions exceeding Rs 2,000. The proposal recommends an interchange fee of up to 1.1 percent with the objective of boosting revenue for banks and payment service providers who have faced significant costs in facilitating UPI transactions. The NPCI has set a deadline for reviewing the interchange pricing, which is September 30, 2023.
Goldman Sachs, an investment banking company, has predicted that Artificial Intelligence (AI) could replace as many as 300 million (30 crore) full-time jobs, as various sectors see the adaption of AI in multiple industries in the future.
Disney Layoff News: According to a letter sent by Disney CEO Bob Iger to employees of Walt Disney Co, the company will start notifying the first group of affected employees about the upcoming layoffs in the next four days. The job cuts, aimed at reducing costs and streamlining the business, will impact several major divisions including Disney Entertainment, Disney Parks, Experiences and Products, and corporate. The first round of layoffs, totaling 7,000 employees, began on Monday. A larger round of job cuts, affecting several thousand more employees, will take place in April. The final round is expected to start before the summer.

Date for linking PAN-Aadhaar extended: Check new date

Tuesday 28 March 2023 10:14 AM UTC+00
PAN-Aadhaar Linking: In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to June 30, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing repercussions, the Income Tax department informed on Tuesday. 
Medicine price hike news: Starting in April, consumers in India will face higher prices for essential medicines, including painkillers, anti-infectives, cardiac drugs, and antibiotics. Government has allowed drug companies to increase prices in line with the change in the annual Wholesale Price Index (WPI). The National Pharmaceutical Pricing Authority (NPPA), the drug prices regulator, revealed that the annual change in WPI, as notified by the government, was 12.12% in 2022. 

India to continue wheat export ban until THIS time: FCI

Tuesday 28 March 2023 02:18 PM UTC+00
India on Tuesday clarified that it will not resume the export of wheat until it feels the country is comfortable with domestic supplies. Food Corporation of India chief Ashok K Meena asserted that wheat production will not be affected due to recent rains and added the country is confident of achieving the output target.
FTX founder, Sam Bankman-Fried has been accused of bribing Chinese officials with 40 million dollars for gaining access to frozen crypto assets worth over one billion dollars in value. The founder is facing several charges after the crypto exchange firm faced an equivalent of a bank run in November 2022 and soon filed for bankruptcy afterward. 
Gold prices today: In India, both 24 and 22 carat gold prices have fallen over the past day. As of Wednesday, March 29, ten grams of 24 carat gold cost Rs 59,450, while 10 grams of 22 carat gold cost Rs 54,500.
The IPO of MOS Utility will open for subscription on March 31. The subscription window will remain open till April 6. The company has fixed the price band of Rs 72 to 76 per share. The IPO comprises 65,74,400 equity shares of face value of Rs 10 each. While 57,74,400 equity shares are fresh issue, 8,00,000 equity shares are Offer For Sale by the promoters.
ITR filing deadline: The deadline for filing Income Tax Returns (ITR) for income earned in the financial year 2022-2023 is July 31, 2023, as per the usual schedule. As the ITR filing season approaches, it is essential for taxpayers to be aware of important details such as when to file their ITR and how to go about it. In this regard, here is all the necessary information to assist taxpayers in their ITR filing process.
UPI transaction charges: The National Payments Corporation of India (NPCI) has suggested the implementation of an interchange fee for Prepaid Payment Instruments (PPIs) on Unified Payments Interface (UPI) transactions exceeding Rs 2,000. The proposal recommends an interchange fee of up to 1.1 percent with the objective of boosting revenue for banks and payment service providers who have faced significant costs in facilitating UPI transactions. The NPCI has set a deadline for reviewing the interchange pricing, which is September 30, 2023.
Goldman Sachs, an investment banking company, has predicted that Artificial Intelligence (AI) could replace as many as 300 million (30 crore) full-time jobs, as various sectors see the adaption of AI in multiple industries in the future.

Date for linking PAN-Aadhaar extended: Check new date

Tuesday 28 March 2023 10:14 AM UTC+00
PAN-Aadhaar Linking: In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to June 30, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing repercussions, the Income Tax department informed on Tuesday. 
Medicine price hike news: Starting in April, consumers in India will face higher prices for essential medicines, including painkillers, anti-infectives, cardiac drugs, and antibiotics. Government has allowed drug companies to increase prices in line with the change in the annual Wholesale Price Index (WPI). The National Pharmaceutical Pricing Authority (NPPA), the drug prices regulator, revealed that the annual change in WPI, as notified by the government, was 12.12% in 2022. 

India to continue wheat export ban until THIS time: FCI

Tuesday 28 March 2023 02:18 PM UTC+00
India on Tuesday clarified that it will not resume the export of wheat until it feels the country is comfortable with domestic supplies. Food Corporation of India chief Ashok K Meena asserted that wheat production will not be affected due to recent rains and added the country is confident of achieving the output target.
FTX founder, Sam Bankman-Fried has been accused of bribing Chinese officials with 40 million dollars for gaining access to frozen crypto assets worth over one billion dollars in value. The founder is facing several charges after the crypto exchange firm faced an equivalent of a bank run in November 2022 and soon filed for bankruptcy afterward. 
Gold prices today: In India, both 24 and 22 carat gold prices have fallen over the past day. As of Wednesday, March 29, ten grams of 24 carat gold cost Rs 59,450, while 10 grams of 22 carat gold cost Rs 54,500.
The IPO of MOS Utility will open for subscription on March 31. The subscription window will remain open till April 6. The company has fixed the price band of Rs 72 to 76 per share. The IPO comprises 65,74,400 equity shares of face value of Rs 10 each. While 57,74,400 equity shares are fresh issue, 8,00,000 equity shares are Offer For Sale by the promoters.
ITR filing deadline: The deadline for filing Income Tax Returns (ITR) for income earned in the financial year 2022-2023 is July 31, 2023, as per the usual schedule. As the ITR filing season approaches, it is essential for taxpayers to be aware of important details such as when to file their ITR and how to go about it. In this regard, here is all the necessary information to assist taxpayers in their ITR filing process.
UPI transaction charges: The National Payments Corporation of India (NPCI) has suggested the implementation of an interchange fee for Prepaid Payment Instruments (PPIs) on Unified Payments Interface (UPI) transactions exceeding Rs 2,000. The proposal recommends an interchange fee of up to 1.1 percent with the objective of boosting revenue for banks and payment service providers who have faced significant costs in facilitating UPI transactions. The NPCI has set a deadline for reviewing the interchange pricing, which is September 30, 2023.
Goldman Sachs, an investment banking company, has predicted that Artificial Intelligence (AI) could replace as many as 300 million (30 crore) full-time jobs, as various sectors see the adaption of AI in multiple industries in the future.
Chinese loan scam: In a major crackdown against Chinese loan apps, funds worth about Rs 106 crore kept in various payment gateway merchant IDs and bank accounts have been attached under the anti-money laundering law on Wednesday.
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