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GST may not burn a hole in your pocket, but you will have to tighten purse strings

GST may not burn a hole in your pocket, but you will have to tighten purse strings

Finance
What we buy, how we buy and why we buy are questions that have for long fascinated anthropologists. But GST is expected to add a new twist to the tale of Indian consumerism. Under the new taxation regime fruits, vegetables, pulses, wheat, bread and rice are exempted from taxation even as chips, biscuits, butter, tea and coffee are attracting higher taxes. So, would that make families to make healthier choices at the supermarket? Cited as the "single largest taxation reform" in independent India, GST is set to change taxation for every sector — from real estate to vehicles to consumer durables to branded goods to luxury items. For a middle class family that earns between Rs 50,000-Rs 80,000 a month, the impact on the monthly budget will not be more than a few hundred rupees. For those
From July 1, PAN must be linked to Aadhaar

From July 1, PAN must be linked to Aadhaar

Finance
NEW DELHI: All those allotted permanent account number (PAN) as on July 1 will have to link it with their existing 12-digit biometric Aadhaar number, the government has said. Those applying for a new PAN will have to also mandatorily quote their Aadhaar number or Aadhaar enrolment ID. Both Aadhaar and PAN have already been made mandatory for filing tax returns, opening of bank accounts and financial transactions over Rs 50,000. “Every person who has been allotted permanent account number as on the 1st day of July 2017, and who in accordance with the provisions of sub-section (2) of section 139AA is required to intimate his Aadhaar number, shall intimate his Aadhaar number to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) or the person
El Al can no longer ask women to move seats on religious grounds

El Al can no longer ask women to move seats on religious grounds

Finance
ONE of the more unsavoury airline practices has now been outlawed. In 2015 flight attendants on El Al, Israel’s national carrier, asked Renee Rabinowitz, an 81-year-old holocaust survivor, to move seats after she boarded her flight in New Jersey. An ultra-orthodox Jewish male passenger had objected to having to sit next to her. Haredim, it was explained, are forbidden from close contact with females who are not relatives.Ms Rabinowitz is not alone. As this blog has reported on severaloccasions in recent years, haredi men flying El Al regularly refuse to take their seats next to female passengers. And El Al staff, if the men cannot be accommodated elsewhere on the plane, will sometimes ask the “offending” woman to vacate her seat.At the time, Ms Rabinowitz told the Guardian that she was fly
Growing number of private and PSBs introducing humanoid robots to answer basic customer queries

Growing number of private and PSBs introducing humanoid robots to answer basic customer queries

Finance
BENGALURU: If you walk into the head office of Canara Bank in Bengaluru, the first thing you are likely to encounter is a 4.5-feet tall Kannada-speaking robot called Mitra. The robot, with a HD camera in its head and the Canara Bank logo on its chest, answers close to 500 frequently asked questions ranging from 'lift elidhe?' (Where is the lift?) to 'student loan yeshtu aguthe?' (How much is the student loan?) while zipping around at 15 km/hr. "The robot can listen to customer queries and offers guidance depending upon the question," said KN Ramamoorthy, GM of Canara Bank. The guidance is welcome since the Canara Bank head office has 15 departments and customers are usually clueless about which counter to approach when they walk in for the first time. "Mitra goes around the office ans...
Brexit could hurt London's status as a fintech hub, TransferWise warns

Brexit could hurt London's status as a fintech hub, TransferWise warns

Finance
London's status as a global financial technology hub could be undermined if Brexit complicates the ability of companies to operate across Europe and access to talent becomes difficult, the co-founder of an international online money transfer platform warned Tuesday.Brexit talks kicked off last week between the U.K. and the European Union, following an election that saw Prime Minister Theresa May's Conservative Party lose parliamentary majority. Taavet Hinrikus, CEO of London-based unicorn TransferWise told CNBC on the sidelines of the World Economic Forum's annual June meeting in Dalian that a couple of factors in particular were important to financial technology companies such as his. "It's really two things which are important to TransferWise and all of the high-growing companies in tec...