Author: News Desk
Rising Concerns: Tackling Counterfeit Currency in India Counterfeit currency poses a significant challenge to India’s financial system, and recent reports reveal a worrisome trend. With fake notes circulating in the market, it becomes crucial for individuals and businesses to stay vigilant and take necessary precautions. This article delves into the extent of counterfeit currency, its impact on different denominations, and provides guidance on identifying and handling fake notes. Prevalence of Fake Notes: The Reserve Bank of India’s annual report sheds light on the prevalence of counterfeit currency in India. Notably, fake 500 rupee notes are more common than their 2000…
UAE Maintains Tax-Free Income System, Implements Corporate Tax for Economic Growth. The UAE authorities have made it clear that there are no intentions to introduce income tax. Ministry of Finance Undersecretary Haji Al Khoori emphasised that the UAE has no plans to implement a personal income tax. This statement reaffirms the Government’s commitment to maintaining a tax-free income environment for individuals in the UAE. The Minister of State for Foreign Trade, Dr Thani bin Ahmed Al Seyudi, also previously stated that personal income tax was not under consideration. No Corporate Tax on Personal Income Haji Al Khoori further clarified that…
The National Payments Corporation of India (NPCI) announced a significant milestone for the Unified Payments Interface (UPI), as it keyed-in a record-breaking 9 billion transactions in May. This article delves into the latest achievements of UPI, its projected growth, and the evolving landscape of digital payments in India. UPI’s Phenomenal Growth: The NPCI, the governing body for retail payments and settlement systems in India, reported the exceptional performance of UPI, hailing it as a major success in real-time mobile payments. With over 9 billion transactions in May, UPI continues to offer seamless and convenient payment options to users across the…
Meta Unveils Quest 3 Mixed Reality Headset: Aiming to Rebound in the Reality Labs Market. Declining Revenues Prompt New Product Launch In an effort to recover from declining revenues in the Reality Labs segments, Meta founder and CEO Mark Zuckerberg unveiled the company’s highly anticipated next-generation mixed reality headset. The Quest 3, a cutting-edge colour mixed reality headset, is set to hit the market ahead of rival Apple’s planned launch of a VR/AR mixed reality headset during the Apple WWDC 2023. Combining Augmented and Virtual Reality The Quest 3 aims to revolutionise the immersive experience by seamlessly integrating augmented and…
Dubai, known for its impressive architectural wonders, is set to welcome a new addition to its skyline with the grand unveiling of Palm Jebel Ali. Spanning an expansive area of 13.4 square kilometres, this prestigious development will be twice the size of Palm Jumeirah and represent a significant milestone in Dubai’s continuous growth. Promising a sophisticated and enchanting ambiance, Palm Jebel Ali will feature awe-inspiring waterfalls, sprawling green spaces, and unparalleled waterfront experiences. The project is poised to add approximately 110 kilometres of pristine coastline to Dubai, offering around 35,000 families the opportunity to indulge in the epitome of luxury…
Hitachi Payment Services, a leading payment solutions provider in India, has announced the launch of its Digital Payments Innovation Hub. The hub aims to foster collaboration with Fintech startups in India and the extended Asia-Pacific region. This initiative expands Hitachi’s existing partnership with Plug and Play, which already has a presence in Japan and the US. The primary goal of the partnership is to bring innovative products and platforms into the Hitachi Payments ecosystem, providing startups with capital, integration with the Hitachi Payments stack, and access to its customer network and platform for scaling up. Furthermore, the collaboration seeks to…
In a significant boost to the startup ecosystem, the Kerala Government has taken a proactive step by raising the procurement limits for startups registered with the Kerala Startup Mission (KSUM). This move is aimed at fostering innovation, encouraging entrepreneurship, and creating more avenues for startups to thrive in the state. The Government has announced an increase in the ceiling for public procurement, allowing government departments, public sector undertakings (PSUs), boards, corporations, and local self-government institutions to purchase products and services worth up to Rs 3 crore from startups registered under KSUM. The decision to raise the procurement limits was made…
In a bid to provide relief for electric vehicle (EV) owners, Bangalore Electricity Supply Company Limited (Bescom) has announced plans to set up fast charging stations at toll plazas along the NH-48 (Bengaluru-Pune) section within Karnataka. This initiative aims to enhance the charging infrastructure and convenience for EV owners travelling on the busy Bengaluru-Pune Highway. BESCOM officials have submitted a proposal to the National Highways Authority of India (NHAI) to establish charging stations at ten toll plazas. The plan is to install two charging stations equipped with 120 KW CCS2 EV fast chargers at each toll plaza, according to Sreenath…
Educational entities in India are now required to prioritise the mental and physical well-being of students, according to updated guidelines by the Advertising Standards Council of India (ASCI). The voluntary self-regulatory organisation has introduced these norms for educational institutions, including Universities, Colleges, Schools, Coaching Classes, and ed-tech platforms, in order to promote responsible advertising practices. The move comes as a response to a recent report highlighting the Education sector as one of the major violators of advertising guidelines in recent years. The ASCI revealed that classical education ranked second on the list, accounting for 13.8% of total ads that failed…
The world of work has witnessed a remarkable transformation fueled by an unforeseen pandemic. The shift from traditional office-centric routines to a hybrid work model combining remote work and office presence has become a game-changer. This shift reflects the agility required in the modern workplace, with organisations recognizing the importance of maintaining a productive and connected workforce. The seamless adaptation to this new normal is both inspiring and encouraging. The Consumerization of the Workplace: Creating Attractive Workspaces Attracting employees back to the office requires reimagining shared spaces, services, and amenities to make the workplace a desirable destination. This concept, known…