The financial industry supported this move and said it is a progressive step to boost the adoption of interoperable cash deposits Launched in 2016, India’s UPI payment has become an essential part of every individual, especially for retail digital payments in India, and its adoption has noticed rapid growth. Keeping its huge progress in mind, […]
Anita Praveen, Secretary, Ministry of Food Processing has emphasised the pivotal role of research and development (R&D) in propelling the Indian food processing sector to greater heights. Speaking at the FICCI Scientific Symposium on ‘Processed Foods for Purpose’, Praveen highlighted the sector’s significant potential for growth and its status as a priority area within India’s […]
Tech giant Apple has launched an appeal against a decision by the US International Trade Commission (ITC) to ban imports of certain Apple Watches, following a patent dispute with medical technology company Masimo. In a filing to the US Court of Appeals for the Federal Circuit, Apple said that the ITC’s ruling was flawed due […]
India has extended the timeline for duty-free imports of yellow peas by two more months until June 2024, an official notification from the Directorate General of Foreign Trade said on Friday. In early December, the central government allowed duty-free imports of yellow peas until March 2024, later to be extended till April. It was part […]
The Reserve Bank of India has proposed cash deposits in banks through the Unified Payment Interface (UPI) mechanism. RBI has also proposed making UPI payments through Prepaid Payment Instruments (PPI) wallets. Announcing the monetary policy outlook, RBI Governor Shaktikanta Das said, “Deposit of cash through Cash Deposit Machines (CDMs) is primarily being done through the […]
India has allowed a limited quantity of onion exports to the United Arab Emirates (UAE), defying the extended ban on onion exports imposed until further notice. The Ministry of Commerce and Industry, through the Directorate General of Foreign Trade (DGFT), issued a notification on Wednesday, permitting the export of an additional 10,000 metric tons (MT) […]
The Food Safety and Standards Authority of India (FSSAI) has issued a directive to all ecommerce companies, urging them to refrain from labelling dairy-based, cereal-based, or malt-based beverages as ‘health drink’ or ‘energy drink’. This move comes in response to the absence of a defined classification for ‘health drink’ in the country’s food laws, and […]
United Spirits on Tuesday stated that it has been served with a tax demand amounting to Rs 5.51 crore, inclusive of interest, due to the non-submission of specific statutory declaration forms and delivery proofs. The Deputy Commissioner of State Tax, Nanded, imposed this demand concerning the non-submission of said forms and proofs about Pioneer Distilleries, […]
Online food delivery platform Zomato has disclosed that it is facing a service tax demand and penalty order totaling over Rs 184 crore. In response, the company intends to file an appeal against the order before the appropriate authority. The demand pertains to non-payment of service tax covering the period from October 2014 to June […]
Oil marketing companies reduced the prices of 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, said sources. The price has been reduced by Rs 30.50 for a 19-kg commercial cylinder. From 1 April the price in Delhi has been fixed at 1764.50, said sources. The price of the 5kg FTL cylinder […]
