Bringing a closure to a contentious issue, the Reserve Bank of India (RBI) has allowed multinational banks operating in the country to store a limited set of data in offshore servers. Certain fields of static information such as name and address of client, some know-your-customer details along with select transaction particulars like date and amount,…Continue Reading
Future Group and Amazon are likely to start negotiations for a possible out-of-court settlement of a year-long legal standoff over the proposed sale of Future Group assets to Reliance Retail once the Singapore arbitrator gives its initial rulings later this month, according to two people familiar with the matter. The Singapore International Arbitration Centre (SIAC)…Continue Reading
HYDERABAD: The Income Tax department has charged pharma major Hetero of using private lockers in Ameerpet and those of the SBI, an almirah and boxes in houses owned or rented by its directors, to stash cash illegally. Investigations found that Hetero inflated the production cost of drugs it was manufacturing and over-invoiced the raw material…Continue Reading
HYDERABAD: A judicial magistrate has admitted before the SC-appointed inquiry commission, probing the alleged encounter killing of four accused in the veterinary doctor gang-rape and murder case, that he gave custody of the four to police “without seeing the accused and without talking to them”. The case relates to the gang-rape and murder of a…Continue Reading
The Indian government has received the third set of Swiss bank account information from Switzerland. This was done, as part of an annual exercise, under which the European nation shared details of nearly 33 lakh financial accounts with 96 nations. On the condition of anonymity, officials revealed that the details relate mostly to businessmen, including…Continue Reading
Marc Andreessen speaking at the 2017 ReCode Conference on May 30, 2017.Asa Mathat for Vox MediaTwo of Facebook’s top engineers on its blockchain and digital currency project left the company to join Andreessen Horowitz’s crypto team, the venture capital firm told CNBC on Monday.Riyaz Faizullabhoy and Nassim Eddequiouaq spent the past two years working on…Continue Reading
Bitcoin extended its two-week rally Monday, climbing to the highest level since early May, according to Coin Metrics.The cryptocurrency last traded more than 3% higher at $57,530.81 after hitting as high as $57,740.82.The comeback — a gain of another 12% would take it back to its all-time high of about $65,000 — comes amid increasing…Continue Reading
The Congress on Monday alleged that the BJP government was purchasing goods and services from “fugitives” who have fled the country with public money. Congress spokesperson Gourav Vallabh, at a press conference, alleged that the BJP government was first aiding fugitives escape from the country and then was buying goods from their companies. He cited…Continue Reading
A middle-aged Dalit woman was allegedly gang-raped in Uttar Pradesh’s Jewar area near Noida at gunpoint, police officials said on Monday, as opposition political parties, including the BSP and the Congress, demanded action against culprits. None of the four accused have been arrested yet over the incident that took place on Sunday morning outside a…Continue Reading
Union Minister for Environment, Forest and Climate Change (MoEFCC) Bhupender Yadav on Monday said that the ministry plans to raise funds for new animal rescue centres across the country through Public-Private Partnership (PPP) models. The Union Minister was addressing the concluding event of the two-day national conference of zoo directors in Kevadia of Narmada district.…Continue Reading