Current Affair 12th July,2018
Two Indian-origin women on Forbes list of America’s richest self-made women
Indian-origin technology executives Jayshree Ullal and Neerja Sethi have made it to the Forbes’ list of America’s 60 richest self-made women, with 21-year-old reality-TV star and entrepreneur Kylie Jenner the youngest to be featured in the power list.
Ullal is ranked 18th in the list of 60 self-made women, having a net worth of 1.3 billion dollars, while Sethi is ranked 21st with a net worth of a billion dollars. “America’s top female entrepreneurs have shattered ceilings and scaled new heights, creating companies and building fortunes in everything from genetic testing to aerospace. Increasingly these self-made starters are tapping social media to cement their brands and build businesses ever more quickly. That, in turn, has helped the nation’s most successful women become richer than ever before,” Forbes said.
Born in London and raised in India, Ullal, 57, has been president and CEO of Arista Networks, a computer networking firm, since 2008.
Govt slashes UPI cashback scheme limit to total of Rs 150 per person No more cash for digital transactions
●Government amends UPI cashback scheme to limit incentives
●Only BHIM-UPI users can claim incentives up to Rs 150 in total
●Earlier, people could make up to Rs 750 a month by transferring funds
●Video tutorials on gaming the system flooded YouTube
●Reports of potential misuse caused the rethink, sources said
●Merchant cashback scheme stopped, to be reintroduced soon
A Himalayan price is being paid for govt bid to build Chardham Highway
The Chardham yatra to Yamunotri, Gangotri, Badrinath and Kedarnath is considered one of the holiest pilgrimages for Hindus. However, the Ministry of Road Transport and Highways (MoRTH) has gone about improving their connectivity in an ungodly manner.
The MoRTH has come up with an ambitious project to build a two-lane express highway connecting these four dhams. Work on this extended 900-km project, which passes through 529 landslide-prone areas, has proceeded without the mandatory environmental impact assessment (EIA).
The MoRTH has also not thought it necessary to conduct any detailed cumulative assessment of this ecologically sensitive region, which falls within the catchment area of the Ganga and its tributaries, including the Bhagirathi, the Alaknanda and the Mandakini.
Govt ups threshold for tax case appeals to Rs 2 mn to reduce litigations
With about Rs 5 trillion stuck in litigations, the government has decided to hike the threshold monetary limit for tax department to file appeals in tribunals and courts to bring down litigation by 41 per cent, Finance Minister Piyush Goyal said on Thursday.
Goyal said the tax department can file appeals in ITAT/CESTAT only if the tax amount involved is Rs 2 million or more, up from Rs 1 million at present.
Appeals would be filed in High Courts if the tax amount involved in litigation is Rs 5 million, up from Rs 2 million at present. For appeals in Supreme Court, the threshold limit has been hiked to Rs 100 million, from Rs 2.5 million at present.
GIC Re trades ex-bonus in ratio of 1:1; stock hits new low
Shares of state-owned reinsurance company General Insurance Corporation of India, or GIC Re have slipped 4.5% to Rs 365 per share on the National Stock Exchange (NSE) in otherwise firm market. The stock touched its lowest level since listing on the bourses on October 25, 2017.
The stock of GIC RE turned ex-bonus in the ratio of 1:1 and for dividend of Rs 13.50 per equity share.The board of directors of the company in its meeting held on May 25, 2018, had recommended capitalization of reserves and issue of fully paid bonus shares in the ratio of 1 bonus equity share of face value of Rs 5 each for 1 existing equity share held on the record date.
The company has fixed July 14,2018 as the record date for the purpose of taking record of eligible/beneficial owners for payment of equity dividend and also who are entitled for receipt of bonus shares.
Since listing, GIC Re has underperformed the market by falling nearly 15% against 10% rise in the S&P BSE Sensex.
At 10:16 am; the stock was trading 4% lower at Rs 367 on the BSE, as compared to 0.72% gain in the benchmark index. A combined 48,094 equity shares changed hands on the counter on the BSE and NSE so far.