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The Indian Exp ress, June 24, 2018 New Delhi WhatsApp is working on setting up a 24-hour customer support for users of its payments services that is slated to be rolled out in India in the coming weeks. WhatsApp, which has over 200 million users in India, will provide support through e-mails as well as a toll-free number. “We will provide 24-hour customer support. Payments users can contact the support team via e-mail and a toll-free number (when the service is rolled out in India),” a WhatsApp spokesperson told PTI. The spokesperson added that the support will be available in English as well as three Indian languages — Hindi, Marathi and Gujarati. However, the official declined to comment on the launch dates and other details. While WhatsApp is yet to announce the official date of launch of its UPI-based payments service, industry watchers expect an announcement to come in the next few weeks. Almost one million people are “testing” WhatsApp’s payments service in India, which...

PTI: Economic Times: June 24, 2018 The state-wide plastic ban, including carry-bags and thermocol by the Devendra Fadanvis government, will result in loss of up to Rs 15,000 crore and nearly 3 lakh job, says the plastic manufacturing industry.  "The ban imposed by Maharashtra from Saturday has hit the industry very hard and the plastic industry is staring at a loss of Rs 15,000 crore, leaving nearly 3 lakh people jobless overnight," Plastic Bags Manufacturers Association of India general secretary Neemit Punamiya told today.  Nearly 2,500 members of the association have left with the no option but to shut shop following the ban, he added and termed the ban as "discriminatory".  On March 23, the state announced a ban on manufacture, use, sale, distribution and storage of plastic materials such as one-time-use bags, spoons, plates, PET and PETE bottles and thermocol items. The government had given three months time to dispose of the existing stocks, ...

Economic Times: June 24, 2018 New Delhi today declined to spell out its stance on a possible funding of a project linked to Beijing's ambitious One Belt One Road (OBOR) initiative by the Asian Infrastructure Investment Bank (AIIB).  "These things (loan proposals) are discussed at the board level and the final decision is taken keeping all interests and viewpoints in mind. We don't make our stand outside the boardroom," interim Finance Minister Piyush Goyal told reporters here.  The minister was replying to a specific question on the government stance if a proposal for funding to a project linked to the OBOR initiative comes up before the AIIB.  So far, no project lending proposal linked to the OBOR has come up for funding before the AIIB, where China is the biggest owner with 31 per cent stake, economic affairs secretary SC Garg added.  India, the second largest shareholder of AIIB with an 8 per cent stake, has been opposed to the OBOR, which is b...

The Hindu, JUNE 23, 2018 , BY OOMEN A. NINAN Kaveri Seed Company, the only seed firm listed on Indian stock exchanges, is the market leader in the southern part of the country, besides Maharashtra. The seed producer’s chairman and managing director G.V. Bhaskar Rao says product performance is the only means to earn farmer loyalty, which also enables the company to win market share from competitors. Edited excerpts: What has been the impact of the monsoons over the last two cycles. What do you think will be the impact this year? After two years of drought, India witnessed normal monsoon in kharif 2017, returning optimism to the rural sector and improving farmer sentiment. It was one of the best years for cotton. Though the average rainfall pattern during this year was normal, rainfall distribution was uneven. A dry spell prevailed during the month of August, which is a crucial crop growth period, affecting the rain-fed crops like cotton, pulses, bajra, etc. Central and North pa...

Asian Age: June 25, 2018 Mumbai: The Enforcement Directorate (ED) has provisionally attached assets worth Rs 49 crore of a joint-venture firm that was allocated coal blocks in Wardha, Nagpur for captive mining for power-generation in Bellary, Karnataka. The ED money-laundering probe against the firm is based upon a Central Bureau of Investigation (CBI) case against it for allegedly selling the residue remains generated during washing of the mined coal to the tune of Rs 49 crore, instead of using it exclusively for the end-use, power generation, as per the allocation terms. The Centre allocated the coal block in 2003 for power generation at the Bellary thermal power station. “The coal block was allocated under a condition that the residues generated while washing the mined coal will be exclusively used for the end-use and not for commerce or other purposes,” said an ED source. The joint-venture firm had entrusted the work of washing the mined coal to another firm. Duri...

Economic Times: June 24, 2018 More than 250 militants are active in Kashmir and about the same number are waiting at "launch pads" across the Line of Control to infiltrate into the valley, the Army said today.  "About 250-275 militants are active in Kashmir valley," General-Officer Commanding of Srinagar-based Chinar Corps (15 Corps), Lt Gen A K Bhatt told reporters in Baramulla in north Kashmir.  He said militants in groups of 25-30 are waiting at launch pads across the LoC to infiltrate into the valley.  "In the 15 Corps' zone (across the LoC), about 250-270 in groups of 25-30 are at different launch pads," he said.  Lt Gen Bhatt said the situation in north Kashmir is better than in the south.  "Compared to south Kashmir, there is less number of militants in north and the situation is also better in north Kashmir for which I thank the people, especially the youth, here," he said.  Asked whether NSG would be dep...

The Tribune, By Sardar Sikander, June 24, 2018, Islamabad AJK Prime Minister Raja Farooq Haider on Friday reiterated to allow the residents of AJK to enter Indian Occupied Kashmir to “help their brothers and sisters under oppression if unrelenting carnage and tyranny in Indian Occupied Kashmir by India does not end.” “We can weigh the option to allow our people to cross the (Line of Control) LoC and enter into the part of Kashmir under Indian occupation if India continues with its repressive policies in the occupied territory,” said PM Haider in a statement. He is presently on a visit to United Kingdom. “If we decide so, the consequences will be grave and India will responsible of it.” He urged New Delhi to halt military action in IOK and allow the people of IOK to “decide their fate through democratic and peaceful means.” The statement comes at a time when Islamabad has welcomed the recommendation made by the UN high commissioner on human rights to establish a commis...

The Economic Times, Jun 24, 2018 The state-wide plastic ban, including carry-bags and thermocol by the Devendra Fadanvis government, will result in loss of up to Rs 15,000 crore and nearly 3 lakh job, says the plastic manufacturing industry. "The ban imposed by Maharashtra from Saturday has hit the industry very hard and the plastic industry is staring at a loss of Rs 15,000 crore, leaving nearly 3 lakh people jobless overnight," Plastic Bags Manufacturers Association of India general secretary Neemit Punamiya told today.  Nearly 2,500 members of the association have left with the no option but to shut shop following the ban, he added and termed the ban as "discriminatory". On March 23, the state announced a ban on manufacture, use, sale, distribution and storage of plastic materials such as one-time-use bags, spoons, plates, PET and PETE bottles and thermocol items. The government had given three months time to dispose of the existing stocks, whic...

Livemint,  Jun 24 2018, New Delhi The government has deferred the bidding for 60 oil and gas fields being offered in the second round of bidding for discovered small field (DSF) by a month. DSF-II was supposed to be launched around mid-June, but it won’t happen before July, a senior government official said. He, however, did not give a reason for delaying the bid round. The government had in 2016 brought a new DSF policy, offering “idle” small discovered fields of state-owned Oil and Natural Gas Corp. (ONGC) and Oil India Ltd (OIL) in an auction on liberalised terms including marketing and pricing freedom and lower taxes. The union cabinet had in February approved the second round of DSF auctions, under which the government is offering a total of 60 discovered small fields with an estimated 194.65 million tonnes of oil equivalent (MMtoe). These discoveries have been clubbed into 26 contract areas spread over 8 sedimentary basins, he said. “DSF-II will be launched s...

Livemint, Jun 24, 2018, New Delhi The mega-merger deal of Idea Cellular and Vodafone India may not meet the expected 30 June timeline as the telecom department is looking to raise a fresh demand of around Rs4,700 crore, an official said. The demand will be raised from Vodafone India before its merger with Idea Cellular. “Vodafone India had merged its all arm into one company and there are dues of around Rs4,700 crore related to one-time spectrum charges (OTSC) on the company. DoT will ask Vodafone to either clear dues or furnish bank guarantee before merger with Idea,” an official told  PTI . In 2015, Vodafone had merged its four subsidiaries Vodafone East, Vodafone South, Vodafone Cellular and Vodafone Digilink with Vodafone Mobile Services, which is now called Vodafone India. DoT at that time has asked Vodafone to clear OTSC dues worth Rs6,678 core but the company challenged it in court. Following Supreme Court order, Vodafone had paid only Rs2,000 crore to get the ...

Livemint, Jun 24 2018, New Delhi Almost a year into providing platform for tax collection, GST Network is now developing applications and tools for tax officers to help analyse data of their assessees and check possible evasion, a senior official said. GST Network (GSTN), the company handling the technology backbone for goods and services tax, has over the last 11 months provided a platform for businesses to file their returns and pay taxes every month. GSTN chief executive Prakash Kumar said the next focus of the company will be on providing data analytics and improving user interface on the GSTN portal, besides developing backend system for assessment, audit, appeal and advance ruling for 27 states. “’We are working on the analytics part. We have already started sharing with tax officers simple analytics on differences between GSTR-3B and GSTR-1, GSTR-3B and GSTR-2A. This is a broad state-wise data generated by GSTN, based on which the officers can look into the returns...

The Indian Express, Anil Sasi, June 25, 2018 The Financial Intelligence Unit-India (FIU), the government agency mandated with collating, analysing and disseminating financial intelligence on terrorist financing and money laundering, has forwarded a 65,829 Suspicious Transactions Reports (STRs) to law enforcement agencies during FY18 — the highest in the agency’s history. This number was over 13 per cent higher than the record 58,223 STRs forwarded for action in FY17. A majority of these are classified reports on suspicious currency transactions via banking and other financial channels in the country and much of the information was forwarded to various reporting entities as prescribed under Prevention of Money Laundering Rules, an official said. The FIU has been intensely involved in collection and collation of several reports related to demonetisation during November-December, 2016. The spurt in the number of STRs finds a reflection in the number of investigations initiated...

Dailyhunt, June 24, 2018 A police inspector and five others were booked for allegedly cheating a builder of Rs 14 crore by luring him to invest in a cryptocurrency scheme, police said on Sunday. A senior official said that Surat-based builder Chetan Gangani lodged a complaint with Sarthana police station in Surat that he was lured into investing in a company, called NCR Coin LLP, that dealt with cryptocurrencies. Gangani, in his complaint, claimed that the company offered attracting schemes to invest in its cryptocurrency through websites like www.ncrcoin.com, www.ncrcoin.org, and www.ncrcoin.biz. He further told police that he, along with his family, invested Rs 14 crore in the cryptocurrency offered by the firm. The money he had invested, however, was not returned as per the provisions of the scheme told to him, police said quoting his complaint. Later, when Gangani complained about the issue to people connected with the firm, he was called to different citi...

The Indian Express, Maulshree Seth, June 25, 2018 Chief Minister Yogi Adityanath on Sunday raised the demand for reservation for Dalits in minority-run institutions like Aligarh Muslim University (AMU) and Jamia Millia Islamia in Delhi. He called on all those “concerned for Dalits” to raise the issue, reasoning that if institutions like Banaras Hindu University (BHU) could, why not minority-run institutes. “Ek prashna yeh bhi pucha jana chahiye jo keh rahe hain ki Dalit ka apman ho raha hai… ki akhir Dalit bhaiyon ko Aligarh Muslim University aur Jamia Millia University mein bhi arakshan dene ka labh milna chahiye, is baat ko uthane ka karya kab karenge.  (One question should be raised to all those who are saying that Dalits are being humiliated … when would they asked for reservation for our Dalit brothers in Aligarh Muslim University and Jamia Millia Islamia),” he said at a public meeting in Kannauj. “If BHU can give it to Dalits and backwards then why not in Aligarh Mu...

The Indian Express, Mumbai, June 25, 2018 The Asian Infrastructure Investment Bank (AIIB) has approved an investment of $200 million in the National Investment & Infrastructure Fund (NIIF) to give a greater momentum to mega infrastructure projects. Finance Minister Piyush Goyal said: “I had a meeting with the president of AIIB, and he expressed satisfaction that India has shown a lot of enthusiasm, and put up very good proposals. I was also given the good news that today the AIIB Board has approved an investment in the NIIF, the first tranche of $100 million got approved today, which will be followed by a similar tranche.” Goyal added: “AIIB board has expressed satisfaction over the proposals put forward by India for infrastructure financing.” While stating that AIIB has matured as a robust infrastructure financier almost at par with any global bank, Goyal said, “Mumbai, which is the financial capital of India, is poised to become the infrastructure capital.” The AIIB w...