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Showing posts from November 24, 2016

Use new payment modes to beat the cash crunch

Opt for mobile wallets, micro-ATMs, virtual and prepaid cards to deal with the ongoing cash crunch caused by demonetisation The shortage of cash caused by demonetisation has probably forced you to stand in long queues at banks and ATMs. As far as possible, minimise your use of cash and shift to digital modes of payments. Also, make use of other fintech innovation to deal with your cash-starved situation.  Use a mobile wallet: Download a mobile wallet app on your phone, transfer money from your bank account into it and start using it. All you need to do at a shop is to point your phone at the QR code, scan it, enter the amount to be paid and pay. One problem you could face with wallets is that different merchants accept payments from different wallets. An integrator app like Woohoo can help in this respect, as it allows you to make payments at retailers that accept any of these three wallets: Oxigen, Citrus Cash and PayuMoney. You will also be able to pay at all the retail establishme…

Rules under Real Estate Act framed for Delhi

New Delhi The urban development ministry on Wednesday finalised rules under the Real Estate Act for Delhi which provides for a regulatory authority to undertake third-party audit of projects to ensure quality of construction. Delhi Development Authority vicechairman Udai Pratap Singh has been designated as interim regulator. 24th NOVEMBER, 2016, THE BUSINESS STANDARD, NEW DELHI

GST Council meet put off by a week as consensus eludes

Officials trying for consensus with states on tax, compensation law; PM might speak in Rajya Sabha The much-awaited Goods and Services Tax (GST) Council meeting, slated for Friday, has been postponed by a week. Central and state officials are yet to agree on the Bills to effect the proposed system but there is still hope for meeting the April 1, 2017, target to begin the new indirect taxation system. The government says it is confident of being able to introduce the Bills in the ongoing session of Parliament, despite the indefinite adjournments of the latter on the protests over demonetisation. Also, the government is yet to decide whether to introduce the GST legislations as money Bills (which would mean Rajya Sabha approval is not needed; the governing alliance is in a minority here) or finance Bills. Prime Minister Narendra Modi might reply to a debate on demonetisation, if it takes place on Thursday, to try and request opposition parties to not stall Parliament proceedings. The C…