Latest news with #AjinkyaKawale
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Business Standard
5 days ago
- Business
- Business Standard
Tariff turbulence: Surat's diamond industry faces third crisis in 17 years
The industry still says India will continue to be the preferred hub for diamond polishing because of its skill base and manpower Ajinkya Kawale New Delhi Listen to This Article On Raksha Bandhan day in 1938, the Tapi river played havoc in Surat, tossing around boats and sending 84 people into the watery grave. Since then, the Surtis (residents of Surat) observe the festival one day after its calendar date, in remembrance of the tragedy. This year, it is an onslaught of another kind in the famed diamond city, an onslaught of heavy tariffs, clouding most festivities. The United States' (US') reciprocal tariffs, coupled with penalties, threaten the livelihood of artisans. Surat is the world's hub for diamond finishing, and over 90 in 100 diamonds globally are polished. The job
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Business Standard
28-07-2025
- Business
- Business Standard
UPI payments through biometrics likely soon; PIN may become optional
The National Payments Corporation of India (NPCI) is preparing to roll out this update to UPI, which is expected to enhance security and convenience Ajinkya Kawale Mumbai Listen to This Article Unified Payments Interface (UPI) users may soon be able to authenticate transactions using biometrics, such as facial recognition and fingerprints, as an alternative to entering a personal identification number (PIN), according to industry players. The National Payments Corporation of India (NPCI) is preparing to roll out this update to UPI, which is expected to enhance security and convenience. The move comes amid growing concerns around PIN theft and fraud and at a time when UPI accounts for over 80 per cent of digital transactions in the country. Sources confirmed that the NPCI, which has been working on the feature for
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Business Standard
18-07-2025
- General
- Business Standard
Pilots seek clarity over crash probe, say speculation impacting morale
Pilots and cabin crew members from across airlines said they hoped for more transparency and representation in AAIB, which they believed would help prevent the stress caused by widespread speculation Ajinkya Kawale Aashish Aryan New Delhi Listen to This Article The cockpit exchange between the captain and first officer of Air India Flight 171 seconds before it crashed on June 12, a Wall Street Journal report on who said what during that exchange, and speculation over the reason the two fuel switches were at the cut-off position are playing on the minds of pilots and cabin crew of commercial airlines in India. While the director-general of the Aircraft Accident Investigation Bureau (AAIB) has emphasised that the speculation in foreign media over the cause of the crash was 'unfounded' and 'premature', several airline executives Business Standard spoke to said such media
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Business Standard
08-07-2025
- Business
- Business Standard
No betting on chance in Karnataka govt's real-money gaming playbook
According to the draft, the use of real money, tokens, virtual currency, or electronic funds for online betting or wagering is also prohibited Ajinkya Kawale Aashish Aryan Mumbai/New Delhi Listen to This Article The Karnataka government has released a draft Bill proposing a ban on all forms of online betting, gambling, and games of chance, as the state moves to tighten oversight of the fast-growing real-money gaming (RMG) sector. A copy of the draft Bill has been reviewed by Business Standard. According to the draft, the use of real money, tokens, virtual currency, or electronic funds for online betting or wagering is also prohibited. Games of skill shall, however, 'be exempt from this prohibition, subject to regulation and licensing', the draft Bill said. The state government will determine, from time to time, what
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Business Standard
30-06-2025
- Business
- Business Standard
Real money gaming sector seeks unified regulatory playbook amid scrutiny
Currently, states such as Tamil Nadu, Karnataka, Chhattisgarh, and Maharashtra are at varying stages of enforcing their own rules for the industry Ajinkya Kawale Mumbai Listen to This Article With growing scrutiny from multiple Indian states, the real money gaming (RMG) sector is rolling the dice on a centralised regulatory framework. Industry players say a central law could protect legitimate players while driving out rogue offshore platforms that evade taxes and skirt customer protections. At present, states such as Tamil Nadu, Karnataka, Chhattisgarh, and Maharashtra, among others, are in different stages of enforcing state rules on the industry. Industry bodies argue this patchwork of policies is hurting business and consumers alike, and have called on the Centre to establish nationwide standards for compliance, advertising, KYC norms, and domestic operator
