Business

Two homebuyers booked flats and paid Rs 1.16 crore in 2013, they were promised possession by 2014; years later they still had no homes, MahaRERA orders builder to refund money with interest

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The two homebuyers received an allotment letter dated February 18, 2013. (Image for representative purpose only) Two homebuyers booked flats on the sixth and seventh floors of a Mumbai housing project in 2013. They were assured that they would get possession for the flats by December 2014. But their dream of getting the flats remains … Read more

India’s forex reserves surge record $44.9 billion to all-time high of $785.7 billion

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The latest reserve build-up comes after a sharp turnaround in foreign-currency inflows following the RBI’s measures announced in June. India’s foreign exchange reserves surged by a record $44.903 billion in the week ended September 4, taking the country’s forex kitty to a fresh lifetime high of $785.706 billion, according to data released by the Reserve … Read more

In 2010, India launched Aadhaar Card; 16 years later UIDAI says work underway to take Aadhaar global to benefit NRIs and OCIs

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UIDAI is working towards expanding Aadhaar beyond India. (Image for representative purpose only) India launched its first Aadhaar card in 2010. And sixteen years later, the Aadhaar card which has now become an integral part of important documentation work in the country is now set to go global.The Unique Identification Authority of India (UIDAI) is … Read more

Uber exits Nigeria, Uganda: Why Africa’s ride-hailing market is getting tougher

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Uber exits Nigeria, Uganda Uber is pulling out of Nigeria and Uganda, closing operations in two African markets where ride-hailing companies have faced a difficult combination of rising operating costs, pressure on fares and growing competition.The exits took effect on September 2, ending Uber’s 12-year run in Nigeria and roughly a decade in Uganda. The … Read more

No-stop toll plazas by March 2027? Nitin Gadkari sets deadline for barrier-free system

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Union road transport and highways minister Nitin Gadkari addresses a session at the Global Fintech Fest 2026, in Mumbai By next year, your highway journeys could get a lot smoother, as India moves towards a barrier-free, fully digital tolling process.Expected to be rolled out by February-March 2027, the new system will allow motorists to pass … Read more

EPFO delayed a retiree’s Rs 14.06 lakh PF claim by 35 days, citing a missing document; consumer court rejects defence and orders 6% interest

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The commission held that the EPFO was required to process and settle the claim within the prescribed period. (Image for representative purpose only) Your provident fund savings are your retirement corpus. In one case of what the consumer court saw as a delay in disbursal of claim amount, retiree has been awarded a 6% interest … Read more

‘AI a double-edged sword’: FM Sitharaman flags innovation risks, urges efficiency without fragility

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Finance minister Nirmala Sitharaman described artificial intelligence as “a double edged sword”, warning that while it can help detect fraud, it can also be used to perpetrate it. Speaking at the Global Fintech Fest 2026, Sitharaman also added that innovation should expand efficiency without creating new forms of systemic fragility.Cautioning about the risks linked to … Read more

Indian working in Kuwait sent home over a crore in remittances but filed no ITR; taxman treated Rs 3.63 crore as unexplained, ITAT deletes Rs 5.52 lakh and orders fresh check of Rs 2.50 crore

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The absence of an original ITR became a key issue. An Indian working in Kuwait and originally from Ahmedabad received an income tax notice after he failed to file an Income Tax Return (ITR), despite remitting more than a crore to his bank accounts in India.The man had moved to Kuwait to work in the … Read more