Balle balle!: Mahindra on clip showing kid dancing during Melania's school visit
Sharing a video of a boy dancing during US First Lady Melania Trump's Delhi school visit, Anand Mahindra wrote, "In a world burdened by natural calamities...this viral clip showing a child's unrestrained enthusiasm is a breath of fresh air," he tweeted. "He didn't give a hoot about the celebrity in front, nervous secret service agent behind! Balle balle!" Mahindra added.read more at Livemint
US hedge fund asks Subhash Chandra to exit Kidzee owner Zee Learn: Reports
US hedge fund Moon Capital Management has reportedly asked Subhash Chandra to sell the majority stake he holds in Zee Learn, which operates the Kidzee pre-school chain. Moon Capital has been a Zee Learn shareholder since 2015, reports said. Chandra and his Essel Group owned about 57% of the education firm's shares as of December, most of which are pledged.read more at ThePrint
At least one worker in every bank branch should speak the local language: FM
Finance Minister Nirmala Sitharaman on Wednesday asked state-run banks to personally connect with customers at the branch level to provide better services. She said every branch needs at least one employee who speaks the local language. The banks should not give a mechanical response if it declines a loan but should rather explain why the customer wasn't eligible, Sitharaman added.read more at Bloomberg Quint
15,000 jewellers get tax notices to give money they made on demonetisation day
About 15,000 jewellers have received tax notices asking them to turn over money they made on the night of demonetisation day, the India Bullion and Jewellers Association said. The Income Tax Department suspects that black money was behind the jewellery purchases. The industry body estimated that authorities are seeking around ₹50,000 crore from people in the gems and jewellery sector.read more at Deccan Herald
New Zealand airline unveils bunk beds for economy class
Air New Zealand has unveiled a sleeping pod prototype to help economy class passengers cope with near-18 hour flights. The Economy Skynest concept features six full-length sleep pods at 200cm long and 58cm wide each. The airline said it filed patent and trademark applications, adding it would make a final decision on whether to introduce the Skynest next year.read more at The Guardian
IKEA says it won't raise prices in India after import tax hike
IKEA has said it won't raise prices in India in the short term, following the government's move to raise import taxes on furniture. "We are disappointed by the tariffs and it will have a negative impact on business, but we can't quantify it," IKEA India's MD Peter Betzel said. IKEA imports around 75% of the goods it sells in India.read more at Reuters
What are the reliefs sought by Vodafone Idea to settle govt dues?
Vodafone Idea has asked the government to reduce certain licence fee and fix a minimum price for calls and data. The operator also sought adjustment of GST refunds worth ₹8,000 crore against the government dues. The company sought an option to stagger the payment of remaining amount over 15 years at a simple interest of 6%, following a three-year moratorium.read more at Bloomberg Quint
Telcos not doing enough to counter online frauds: Paytm
Paytm said that telecom companies are not making enough efforts to tackle online frauds carried out through SMS or calls. The firm's statement comes after it filed an FIR with the Noida Police against 3,500 phone numbers which it claims may be behind frauds. Paytm is also working with the IT Ministry, TRAI and RBI to fight online frauds.read more at Livemint
I'll give heaven if I know what taxpayers want, you have to tell: FM to officers
Speaking to government officials over confusion in tax rules, Finance Minister Nirmala Sitharaman said, "You ask me today I'll give you heaven but sometimes it may not be possible. It's for you to tell me." She thanked tax practitioners for "ground details" and asked an official, "Do they contact you? Do they tell you all this? They're telling me directly."read more at The Financial Express
$3 trillion wiped out from global stocks this week as coronavirus spreads
Global stock continued to fall on Thursday with the value dropping by over $3 trillion this week alone amid coronavirus outbreak. US Treasury yields witnessed record drop as the virus spread more in other countries than China, where it originated. Stocks in Europe plunged, while Dow Jones lost over 1,900 points in the past two days and NASDAQ dropped 8.9%.read more at Reuters
Tax cut, infra spending to help Indian economy bounce back: Anil Agarwal
Vedanta Chairman Anil Agarwal said the Indian economy will soon bounce back as a steep cut in corporate taxes will attract investments and massive infrastructure spending will revive economic activity. India's economic growth plunged to an 11-year low in July-September quarter. Agarwal added public sector firms should be operated independently as they can produce three times their current output.read more at BloombergQuint
Nationwide rollout of 25 cr smart power meters to cost ₹1.5 lk cr
India's nationwide rollout of 25 crore smart power meters, which are expected to improve billing and collection, will cost ₹1.5 lakh crore, according to government estimate. The meters will raise enough revenue to cover costs and lead to savings for state power distributors, Power Secretary Sanjiv Nandan Sahai said. So far, 10 lakh meters have been installed across four states.read more at BloombergQuint
COAI asks govt to introduce floor price for mobile services from April
The Cellular Operators Association of India has asked the government to introduce a minimum floor price from April 1 to be paid by consumers for mobile services. The industry body has asked the government to adjust GST credits against dues payable by telecom companies. It has also sought a three-year moratorium followed by a 15-year payment schedule for AGR dues.read more at Livemint
UK court extends Nirav Modi's remand to March 24 in PNB fraud case
Fugitive diamantaire Nirav Modi was on Thursday further remanded to judicial custody till March 24. Nirav has been lodged in London's Wandsworth prison since March 2019 in connection with the nearly $2 billion PNB fraud case. The 49-year-old appeared through video-link before Westminster Magistrates' Court in London. Modi's extradition trial is scheduled for five days starting May 11.read more at The Financial Express
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