Business Archives - Page 51 of 59

RBI clarifies that last date for exchanging Rs 2,000 notes is tomorrow

editor September 30, 2023Leave a comment

NEW DELHI: The Reserve Bank of India (RBI) made it clear on Friday that the Rs 2,000 denomination currency will lose all of its value after Saturday and become simply another piece of paper if it is not exchanged in a bank. In order to complete the exercise on schedule and provide the public enough time, the RBI had already set September 30, 2023, as the deadline. Since the central bank decided to stop issuing the high-value note in May, almost 93% of the Rs 2,000 banknotes have been returned to the banking system, according to information released by the RBI earlier in the month.The public was instructed to swap or deposit their Rs. 2,000 notes at local RBI branches and bank branches. Any bank branch allowed non-account holders to exchange up to 20,000 rupees worth of Rs 2000 notes at once. The Rs 2000 denomination banknotes were taken out of circulation on May 19 by the RBI, but they were still declared to be legal tender. However, the RBI had instructed banks to cease issuing these currencies right now. The introduction of the Rs 2000 denomination banknote in November 2016 served largely to quickly address the economy's need for money following the loss of the legal tender status of all Rs 500 and Rs 1000 banknotes in use at the time.After sufficient supplies of notes in other denominations became available, the goal of launching Rs 2000 banknotes was achieved. The printing of Rs 2000 banknotes was thus discontinued in 2018–19. [caption id="attachment_3360" align="alignnone" width="300"] RBI clarifies that last date for exchanging Rs 2,000 notes is tomorrow[/caption]

Jammu Smart City bags award for e-Auto project & e-Rickshaw

editor September 29, 2023Leave a comment

JAMMU, Sept 28: The Jammu Smart City won the Urban Environment category of the India Smart Cities Awards Contest (ISAC) 2022 for its successful e-mobility project, which includes the operation of eAutos and eRickshaws. Droupadi Murmu, the President of India, attended the award ceremony at Indore, Madhya Pradesh, as the principal guest. The Smart Cities Mission of the Union Ministry of Housing and Urban Affairs serves as the umbrella organisation for the India Smart Cities Award Contest. It honours and recognises the 100 Smart Cities' cities, initiatives, and creative concepts that advance sustainable development.According to the official, Shivamogga (Karnataka) took first prize in the Urban Environment Project category, with Indore taking second, and the Jammu Smart City taking third. Out of the 75 plans submitted by 48 cities, the Jammu Smart City was chosen as the winner of the India Smart Cities Awards Contest category. According to sources, Hardeep Singh Puri, the Union Minister for Housing and Urban Development, presented the award to Rahul Yadav, Chief Executive Officer (CEO) of Jammu Smart City Limited (JSCL)."The award comes as a testament to the Jammu Smart City Limited's unwavering commitment to driving innovation in urban mobility and contributing to a greener, more sustainable urban landscape nationwide," the official said, describing the honour as a "landmark achievement". In the "vibrant city" of Jammu, the e-Mobility Project addresses urgent urban issues like traffic congestion, pollution, and a lack of transportation choices."Emission-free transportation with a beneficial environmental impact are the eAutos and eRickshaws. The cost-effective operational dynamics of these electric vehicles set them apart, making both drivers and passengers prefer them, the official stated. Earlier, President Murmu predicted that by 2047, more than half of our people would reside in cities, and that cities' combined GDP contribution would be greater than 80%. We must create a plan for the future and follow it, she said, keeping in mind the expanding requirements and aspirations of the cities and their inhabitants. [caption id="attachment_3325" align="alignnone" width="300"] Jammu Smart City bags award for e-Auto project & e-Rickshaw[/caption]

LG attends public function at Mata Tetara Devi Sachidanand Girls Degree College in Ghazipur

editor September 29, 2023Leave a comment

GHAZIPUR: Tetara Devi's monument was unveiled by Lieutenant Governor Manoj Sinha today at the Mata Tetara Devi Sachidanand Girls Degree College in Ghazipur. In his remarks, the Lt. Governor expressed his gratitude to the College for being at the forefront of establishing high standards for girls' education in the area and for its significant contribution to student transition and development. The Lt. Governor emphasised the nation's quick progress over the previous nine years in a variety of fields, including economic growth and education. He claimed that modern politics' primary concern is development because of the truly unparalleled advances being made in infrastructure, manufacturing, and agriculture. "Changeable winds are blowing through the nation's rural economy.The ideal of India becoming a worldwide superpower has been realised under the leadership of the Hon'ble Prime Minister Shri Narendra Modi Ji, and the society has adopted a new work ethic and a new pro-growth mindset, the Lt Governor remarked. Every person is motivated to help realise Viksit Bharat's goal as a result of the transformational changes of the previous nine years, he continued. At the event, notable individuals and people from many walks of life were present. [caption id="attachment_3313" align="alignnone" width="300"] LG attends public function at Mata Tetara Devi Sachidanand Girls Degree College in Ghazipur[/caption]

Div Com reviews progress of implementation of government schemes, development works in Jammu

editor September 28, 2023Leave a comment

JAMMU: Ramesh Kumar, the Divisional Commissioner Jammu, presided over a meeting of district officers on Wednesday with a focus on the assessment of ongoing development projects, including the implementation of departmental schemes, Central Sponsored Schemes, and other developmental initiatives in Jammu District. The meeting took place in Jammu's PWD Guest House. Deputy Commissioner Jammu Sachin Kumar Vaishya gave a thorough introduction to the meeting's agenda and the district's development profile. Through a power point presentation, the DC informed the Div Com of the current state of each department's ongoing schemes.The Divisional Commissioner received a thorough update on the important projects and development activities now taking place in the district, as well as information on the physical and monetary successes made under the District Capex and UT components. The Div Com instructed Executive Engineer REW Jammu to put all works funded by DDC, BDC, and PRI grants out to bid while analysing RDD's performance. The Div Com further stated that "Works under District & UT Capex budget should also be tendered and early completion of all developmental works in approved plan must be ensured."In-depth reviews of the Social Welfare, Rural Development, Urban Local Bodies, PWD, PMGSY, JPDCL, Jal Shakti, School Education, Agriculture and Allied Departments, Employment, ICDS, Industries, Sheep Husbandry, and Animal Husbandry programmes' development were conducted by the Div Com. The Divisional Commissioner emphasised the need of collaboration amongst stakeholder departments and gave the Deputy Commissioner the responsibility of calling a meeting with the ACD, CEO, BDOs, XEN REW, XEN PWD (R&B), and contractors to make sure that development goals are met within the allotted time frame.The Div Com recommended to attain the financial targets within the shortest amount of time and directed for 100% expenditure under various initiatives while taking note of the meagre expenditure by some sectors. The Divisional Commissioner made clear during a discussion of rural sanitation efforts the necessity of creating an efficient mechanism through Common Service Centres (CSCs) for the better management of rural assets. The Divisional Commissioner gave instructions to the Rural Development Department to give priority to the distribution of homes to landless people in order to ensure the success of the AWAS Plus programme after reviewing the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) program's development. Additionally, he gave instructions to municipal officials to speed up the saturation of PMAY-U cases in metropolitan areas. The Divisional Commissioner emphasised the necessity of reaching 100% saturation and placing a priority on the development of Tube Wells when discussing the Jal Jeevan Mission (JJM) works' progress. The Div Com instructed the department to "increase the men and machinery to complete works as soon as possible." The Divisional Commissioner requested the Engineers of PMGSY, PWD, and REW to expedite ongoing road projects and ensure prompt maintenance when talking about road connection. Additionally, he emphasised the need for bush trims, divider cleaning, and pothole repair. The Divisional Commissioner requested holding awareness-raising or sensitization workshops for beneficiaries when examining Social Welfare plans because of the necessity to address problems experienced by seniors. Additionally, he examined the standing of the scholarships being provided to the students.The Divisional Commissioner emphasised the development of opportunities for self-employment, gave instructions for developing the district employment plan, and pushed for the quick implementation of beneficiary-oriented programmes in line with market demand and skilled workforce mapping. The Div Com also evaluated the advancements made in relation to various programmes, including PM Kisan, KCC, Soil Health Card, PMDP, PMKSY, PMSSS, PMAGY, ISSS, NSAP, scholarship programmes, BADP, etc. The Div Com stated that inter department coordination is essential to resolving developmental bottlenecks and timely completion of works during the meeting, which also covered issues inhibiting the developmental projects.In the wider public interest, he requested that the police cooperate to meet predetermined goals within predetermined time frames. The Divisional Commissioner gave the Chief Engineer JPDCL instructions to speed up work on power infrastructure argumentation and ensure 24-hour energy supply in relation to the district's power situation. The Divisional Commissioner emphasised the significance of digital penetration across the district and urged all departments to take a public-friendly approach in their operations. The Div Com looked over measures to stop drug usage as well. The SSP provided a comprehensive summary of the steps done to combat the drug epidemic. The Div Com emphasised holding awareness campaigns in villages, colleges, and schools.The Div Com instructed DMO Jammu to coordinate with police & Revenue authorities to stop unlawful mining in the Jammu district while monitoring the operation of the mining department. Director of Tourism for Jammu, Vivekanand Rai, Senior Superintendent of Police, Chandan Kohli, ADC, Harvinder Singh, ADDC, Romesh Chander, CPO, Joginder Katoch, as well as HoDs and district officers from all the important departments, were present at the meeting. [caption id="attachment_3281" align="alignnone" width="300"] Div Com reviews progress of…

Div com reviews preparations for Navratra Festival at Katra

editor September 27, 2023Leave a comment

KATRA: Ramesh Kumar, the divisional commissioner for Jammu, performed a thorough assessment of the preparations for the forthcoming annual Navratra celebration on Tuesday. That festival is set to begin on October 15, 2023, and last through October 23, 2023. The festival's opening ceremony will take place at Yog Ashram Ground in Katra, and it will be followed by a Shobha Yatra and a major event that will highlight the cultural history of Jammu and Kashmir and all of India. The festival's scheduled programmes and events were covered in depth by the director of tourism during the meeting, along with discussions with stakeholders for feedback.In addition, the Divisional Commissioner thoroughly examined a number of factors, such as town beautification, cleanliness, necessary services, traffic management, and emergency services. Throughout the Navratra days, he gave orders to officers to maintain sanitation from Domel to Katra Town. Also discussed were the plans for congregational events including "Prabhat Pheris," "Mata ki Kahani" recitation, "Devotional Song Competition," "Ram Leela," "Dangal," and other cultural activities. The Mata Kahani event would take place at the Spiritual Growth Centre, while Ram Leela would be presented every day from 6:00 PM to 8:00 PM at the Government Higher Secondary School Katra.For October 21st, Padma Shri Sachdev Government PG College for Women Gandhinagar Jammu will host the Garba Night and Garba Dandiya Night. All India Devotional song performances, Bhagwat Katha, folk festivals, Hassaya Vyang, Mata Ka Jagran, Kavi Samelan, wrestling competitions, programmes for children with disabilities, and other cultural activities are among the additional events that are planned during the festival days. To guarantee the seamless operation of all programmes during the Navratra festival for the convenience of pilgrims, the Divisional Commissioner sent instructions to all concerned departments and organisers. He stressed the importance of creating a festive atmosphere and instructed the Tourism Department and Municipal Committee Katra to decorate key areas with ornamental illuminations at entrances.The Divisional Commissioner asked officers to work together, make the required preparations in advance, and provide adequate traffic control, impenetrable security, road upkeep, street beautification, and sanitary conditions in Katra town. Additionally, he urged for consistent water and power supplies throughout Navratra and stressed the need for failsafe security measures. The Divisional Commissioner expressed his optimism that the Navratra festival would boost regional religious and pilgrimage travel and draw more tourists to the area. To complete the arrangements, the CEO of the Shri Mata Vaishno Devi Shrine Board was entrusted with hosting a review meeting with all parties involved. Anshul Garg, CEO of the SMVD Shrine Board, Vivekanand Rai, Babila Rakwal, Deputy Commissioner of Reasi, Amit Gupta, Joint Director of Information, Joint Director of Tourism, SDM Katra, and senior officers of the police and civil service, as well as representatives of various religious organisations, market association presidents, eminent citizens, and other concerned citizens, attended the meeting. [caption id="attachment_3231" align="alignnone" width="300"] Div com reviews preparations for Navratra Festival at Katra[/caption]

Encourage Vaishno Devi pilgrims to visit Jammu zoo: CS to officials

editor September 26, 2023Leave a comment

JAMMU: A K Mehta, chief secretary of Jammu and Kashmir, has encouraged officials to encourage Vaishno Devi pilgrims to visit the zoo on their way to the cave shrine because a lion and a tiger will be introduced to Jambu Zoo here next month. Mehta paid a visit to the Jambu Zoo in Nagrota on Monday to assess the visitor services offered in addition to the general efficiency of the zoological park. In May, the public was allowed access to the Jambu Zoo. The 13 cages at Jambu Zoo, which is one of the biggest in north India, house species that were relocated from Manda Zoo in Jammu. Animals from other zoos in the nation, including a Royal Bengal Tiger and an Asiatic lion, will live in five additional cages. "Lakhs of pilgrims are visiting Shri Mata Vaishno Devi shrine atop Trikuta hills, and they need to be encouraged to stop here for refreshments as the zoo which falls on their route to the cave shrine," the chief secretary remarked. He demanded that large, permanent hoardings promoting the zoo be put up at the airport, the train station, and along the path to the shrine. He stated, "The tiger can be brought in easily by October 15 and the lion by October 25," and that they would draw tourists, particularly kids.Mehta encouraged decision-makers to consider adding a hippopotamus into the zoological park as an additional attraction. The chief secretary stated that the zoo's visitor volume needed to be increased. "Schoolchildren and other nature enthusiasts could also receive education about animals, their behaviour, and the key characteristics associated with them." Mehta demanded that the zoo's cafeteria and natural interpretive centre be made operational right away after noticing their closures. The chief secretary paid a visit to various animal enclosures and praised the employees for taking such wonderful care of all the animals. Mehta observed some of the "sinking" land areas and ordered that specialists be engaged for any quick, low-cost solutions to resolve this problem. [caption id="attachment_3218" align="alignnone" width="300"] Encourage Vaishno Devi pilgrims to visit Jammu zoo: CS to officials[/caption]

IT notifies ‘Angel Tax’ rules for valuation of investments in startups

editor September 26, 2023Leave a comment

NEW DELHI: Rules for valuing equities and compulsorily convertible preferred shares issued by startups to resident and non-resident investors have been made public by the income tax department. The Central Board of Direct Taxes (CBDT) stipulates that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares in accordance with the amendments to Rule 11UA of I-T rules, which take effect on September 25. The five new valuation techniques—Comparable Company Multiple Method, Probability Weighted Expected Return Method, Option Pricing Method, Milestone Analysis Method, and Replacement Cost Method—that were included in the draught rules for non-residents' review are also retained in the amended rules.The amendments to Rule 11UA of the Indian Income Tax Act, according to Nangia & Co LLP Partner Amit Agarwal, result in positive changes by giving taxpayers flexibility through a variety of valuation methods, simplifying the valuation date consideration, encouraging venture capital investments, facilitating investments from notified entities, providing clarity on CCPS, and promoting foreign investments. "The inclusion of a tolerance threshold for minor valuation discrepancies further enhances the efficiency and fairness of tax assessments, ultimately benefiting both taxpayers and the government."These modifications give taxpayers access to a wider variety of valuation techniques, including those that are widely accepted, luring foreign investment and promoting clarity.Additionally, the notified final regulation adds a new sub-clause that specifically mentions CCPS, according to Agarwal. According to Amit Maheshwari, partner at AKM Global Tax, the new angel tax laws have very well addressed a crucial feature of the CCPS valuation mechanism, which was not the case in the past given that the majority of investments made in India by VC funds are made only through the CCPS method. Maheshwari continued, "The extending of 10% safe harbour to CCPS investments as it was previously intended for equity shares will give required margin of safety for handling foreign exchange volatility and is a positive measure.The CBDT released draught regulations on the valuation of funding in unlisted and unrecognised businesses for income tax purposes in May and solicited public feedback on them. These regulations are known as the "Angel Tax." The revised regulations are intended to close the discrepancy between the Income Tax and the FEMA regulations. Businesses paid taxes in addition to their fair market value. A tax known as an angel tax was used to describe this. According to the Finance Act of 2023, taxes will be applied to such investments above the FMV whether the investor is a resident or a non-resident. Concerns have been raised over the methods used to determine fair market value under two different regulations following changes to the Finance Act. [caption id="attachment_3206" align="alignnone" width="300"] IT notifies 'Angel Tax' rules for valuation of investments in startups[/caption]

CS For Comprehensive Measures To Improve Footfall To Jambu Zoo; Lion And Tiger Arriving In October

editor September 25, 2023Leave a comment

JAMMU, Sept 25: On his visit to the Jambu Zoo in Nagrota, Chief Secretary Dr. Arun Kumar Mehta evaluated the amenities offered to guests as well as the overall operation of the zoological park, which was opened to the public last year. The Chief Secretary noted during his inspections that, given the attractions present, the facility's foot traffic has to be increased. He noted that schoolchildren and other wildlife enthusiasts may also be taught about animals, their behaviour, and important aspects of them. Dr. Mehta further argued that educating tourists about the Zoo's amenities and location would boost the number of people visiting it.He saw that there is no signage directing people towards the Zoo. He persuaded the authorities that large, permanent hoardings at the airport, the railway station and along the road should be put up to draw attention from travellers and inform them about this attraction. Additionally, he said that since the Zoo is located on their path to the cave shrine, it would be wise to encourage the thousands of pilgrims who visit the Shri Mata Vaishno Devi shrine to stop by for refreshments here.Dr. Mehta also observed the campus's closed cafeteria and Nature Interpretation Centre. He demanded that both of these facilities be made operational right away so that visitors to the Zoo would find it to be inclusive and educational. Additionally, he instructed them to stock the cafeteria with Jammu's traditional dishes, especially those prepared with millets, because they are popular and healthful across the country.The Chief Secretary thanked the employees for taking such good care of the animals while touring various animal enclosures. He instructed them to provide for the health and well-being of all of these animals. Regarding additional interventions, he said that it would be simple to bring in the tiger by October 15 and the lion by October 25. He said that such creatures are popular with most people and would draw in most tourists, including kids. He advised them to consider adding hippopotamus to the Zoological Park as an additional attraction.The Chief Secretary added that the administration should think about keeping the Zoo open to the public in the morning and evening as well, given the scorching summer weather in Jammu. He urged them to consider keeping the Zoo open from 7:00 am to 10:00 am in the morning and from 5:00 pm to 9:00 pm on days with high temperatures so that visitors would have a cool place to visit. [caption id="attachment_3174" align="alignnone" width="300"] CS For Comprehensive Measures To Improve Footfall To Jambu Zoo; Lion And Tiger Arriving In…

Rajnath Inaugurates Bharat Drone Shakti Show At Hindon Airbase

editor September 25, 2023Leave a comment

Uttar Pradesh, Sept 25: On Monday, Hindon Airbase in this city hosted a large-scale drone demonstration, which was officially opened by Defence Minister Rajnath Singh. The Indian Air Force and Drone Federation of India (DFI) are organising the event, dubbed Bharat Drone Shakti 2023. Singh introduced the massive drone show and observed a few airborne drone experiments. Later, he also stopped by several of the stalls and the exhibition area. Approximately 75 drones are on static exhibit, and more than 50 will be displayed aerially throughout the expo, according to a representative of the Drone Federation of India. (Agencies) [caption id="attachment_3161" align="alignnone" width="300"] Rajnath Inaugurates Bharat Drone Shakti Show At Hindon Airbase[/caption]

J&K tops the country in e-Governance Service Delivery

editor September 25, 2023Leave a comment

JAMMU: By offering more than 1028 services for residents, institutions, and commercial organisations online, Jammu and Kashmir has accomplished a huge milestone and outstanding feat in e-governance. The Union Territory of Jammu and Kashmir took first place in the National e-services Delivery Assessment (NeSDA) report published today by the Department of Administrative Reforms and Public Grievances (DARPG), Government of India, with an impressive 1028 e-services, beating out Madhya Pradesh with 1010 e-services and Kerala with 911 e-services. With this significant accomplishment, Jammu and Kashmir now leads all other states and UTs in the delivery of e-services.While praising the efforts of all Departments, Lieutenant Governor Manoj Sinha said that the success is in line with the J&K administration's commitment and resolve to make services simple, convenient, and accessible to the general public, ushering in a new era of digital governance. This outstanding accomplishment is transforming the social landscape, raising levels of citizen happiness, assuring openness and accountability, and empowering the region's gifted and aspirational youth. This digital revolution, according to him, "represents a significant step towards a governance system that is transparent, accountable, and highly efficient, driven by a 'citizens-first' approach and a steadfast commitment to empowering the public."The number of online services under the Digital J & K initiative has expanded dramatically from 35 services in 2019 to 1028 services as of this writing. The programme was launched in mission mode last year. It is exceptional that J&K has made such a tremendous transition from a backwards state in terms of e-governance to a leader in such a short period of time. This has caused a paradigm shift that has boosted efficiency, accountability, and transparency across the board. A citizen feedback tool is used to continuously assess the tangible decline in corruption and rise in citizen happiness. With an 86% approval rating, over 61 lakh communications have been rented to the public for feedback assessment. Similarly, 73 services have been connected with Digilocker. The Public Services Guarantee Act (PSGA), 2011, has been updated to include online services, demonstrating the seriousness of the government's commitment. To ensure time-bound service delivery and penalties for service delivery delays, almost 300 services have been added to the auto-escalation system. While thanking all Departments on their accomplishment, Chief Secretary Dr. Arun Kumar Mehta stated that it was possible because of their dedication to honest and corruption-free governance.E-service usage and volume have increased dramatically in Jammu and Kashmir, changing the relationship between the government and its citizens like never before. "The Government of Jammu and Kashmir has adopted a robust model of e-Governance and a citizen-centric approach, which has resulted in an exponential rise in the number of online services and the availability of services 24 hours a day, seven days a week," he said. By eliminating the need to attend government offices, integration with systems like Digilocker, Aadhaar, and e-payment/SMS Gateways has further improved the comfort of life and convenience of citizens. He also expressed his gratitude to the Department of Administrative Reforms and Public Grievances (DARPG) for their steadfast assistance throughout this incredible trip, during which our online services multiplied. V Srinivas, the DARPG union secretary, praised the UT administration for accomplishing this remarkable task. He said that the NeSDA framework, created by DARPG, has been instrumental in boosting e-service adoption, volume, and quality. The UT Government's determination and DARPG's persistent dedication to transforming governance via technology are demonstrated by this accomplishment. DARPG has established a standard for states and UTs across the country through the NeSDA framework. He pledged his full support for the UT Administration's transition to the digital age. [caption id="attachment_3151" align="alignnone" width="225"] J&K tops the nation in e-Governance Service Delivery[/caption]

Breaking News

Jammu and Kashmir

Sports

Health

Advertisement

Latest News

Business

Corona