Why US President Joe Biden thinks China is ‘less likely’ to invade Taiwan

When Russia invaded Ukraine in February last year, geopolitical experts and watch groups were quick to draw parallels with China and its historically tense relationship with Taiwan. Increased and overt US support of the island nation following the Russia-Ukraine war did little to quell rumours of an inevitable Chinese invasion as Beijing carried out massive … Read more

Deposit refunds by casinos, online gaming sites taxable

The finance ministry on Wednesday notified the way deposits made to online gaming platforms and casinos will be treated for tax purposes, clarifying that refunds made to the player will not get any relief on tax. The changes are introduced by amending CGST rules 2017, by way of CGST (Third Amendment) Rules, 2023, which are … Read more

RBI committed to bring down inflation to 4%; watchful of price risks: Governor Das

Reserve Bank Governor Shaktikanta Das on Tuesday said the central bank has a commitment to reducing inflation to a target of 4 per cent. Additionally, it will maintain a vigilant stance in monitoring potential risks, particularly as frequent global supply disruptions can significantly impact price management. Shaktikanta Das while delivering a lecture at the Delhi … Read more

Fintech firms need to be self-regulated: Rabi Sankar

Self-regulation is the way to regulate fintech companies, according to Reserve Bank of India (RBI) deputy governor T. Rabi Sankar. Speaking at the Global Fintech Fest on Tuesday, Sankar said that fintech companies are not strictly financial entities and, therefore, the current model of regulation may not apply to these companies. “Regulators and fintech firms … Read more

Uday Kotak springs a surprise, quits as CEO 4 months before term-end

Uday Kotak, Asia’s richest banker by virtue of being the founder of Kotak Mahindra Bank, which he led for nearly two decades, on Saturday announced that he was stepping down as its managing director and CEO four months before the end of his term. The high-profile banker’s decision to become a non-executive director came as … Read more

GDP expands 7.8% on services boost

A Mint poll of 22 economists had estimated the growth in gross domestic product (GDP) at around 7.8%. In the fourth quarter of 2022-23, GDP growth stood at 6.1% against a 4.4% growth rate witnessed in the preceding three months, according to data from the National Statistics Office (NSO). Real GDP at constant (2011-12) prices … Read more