Indian Economy: News and Discussion

Arjun Mk1A

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telco protests were for something else, isn't it? not 5Gi.
after huawei ban and 5gi being incorporated into 5G standards, they don't have a choice now.
Telcos protested against this 5Gi standards since this particular standard is somewhat isolated compared to worldwide 5G standards. But after sometime IIT Madras changes some things.

But this article saying we agreed to merge 5Gi and Global 5G.
India's 5Gi to be merged with global standard - The Economic Times (indiatimes.com)

Still the result is ambiguous at best.

But found one technical document regarding the merger. This is from 3GPP.
Merging 5Gi and 3GPP specifications

Some expert DFI member should need to decode the content.
 

Kumata

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How to defeat a law.. Exactly same happened with GST.. 😂 😂 🤣

This is a govt PSU I believe... As I said earlier, profiteering is rule rather than Exception... So if govt itself indulges in one than who cares...

Railways removes service charges for food, drinks; tags it on to prices of meals

Source : "The New Indian Express" via Dailyhunt
 

indus

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How to defeat a law.. Exactly same happened with GST.. 😂 😂 🤣

This is a govt PSU I believe... As I said earlier, profiteering is rule rather than Exception... So if govt itself indulges in one than who cares...
Yes. Govt works for profiteering and sometimes also creates artificial scarcity of resources by hoarding :troll:
 

another_armchair

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hehehe you are comparing oranges with karela here... I am not aware which Avg u are talking of here and Which GST reduction.... As for as i can see...the price of 10 KG flour which used to be around 270-280 earlier is now 370 Post GST ...while the list of Sin goods have increased multifold....so basically everyhting is a Sin good these days..
Ok... I thought it was inflation.
 

another_armchair

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Pls prey one don,t end up in a decent hospital...

and Bank cheque.. thats a LOL movement.. If i keep money in Bank..I pay to bank.. if i keep at home than i am a black marketer... Either way...U pay get nothing in return and than pay to withdraw as well..
View attachment 164501
The GST is on bank commissions/charges for clearing a cheque.

Say a bank charges Rs. 20 as cheque clearing charges, GST will be chargeable at 18% on Rs 20. It is up to the banks to maintain the clearing charges at Rs. 20 inclusive of GST. Its entirely up to them.

I guess the same will apply to demand drafts too.
 

Kumata

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The GST is on bank commissions/charges for clearing a cheque.

I guess the same should apply to demand drafts too.
What u said is true ... But Bank charges u a cost while issuing cheque book... Govt have imposed GST on this transaction as well now...
 

Kumata

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Yes. Govt works for profiteering and sometimes also creates artificial scarcity of resources by hoarding :troll:
But govt said it works for poor, backward class na... And out kanstitution preamble is socialistic sikular nation.. 😂 😂
 

tommy

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The GST is on bank commissions/charges for clearing a cheque.

Say a bank charges Rs. 20 as cheque clearing charges, GST will be chargeable at 18% on Rs 20. It is up to the banks to maintain the clearing charges at Rs. 20 inclusive of GST. Its entirely up to them.

I guess the same will apply to demand drafts too.
This clearing charge is non sense by banks. If you know the clerk doing the work you won't be charged. Why not just blanket remove these charges.
 

another_armchair

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This clearing charge is non sense by banks. If you know the clerk doing the work you won't be charged. Why not just blanket remove these charges.
Cheques are cleared electronically.

Lets say I issue an ICICI cheque to an account holder in HDFC Bank. Both run on different software platforms and these banks pay an AMC to their vendors for maintenance etc. There is a cost involved.

Would you as an owner of a bank bear the cost or pass it on to your customer? You obviously have to show growth to the board, shareholders and keep your customers happy too by providing basic banking services.

There are no free lunches. Heard banking services are quite expensive in EU.

A crude example - bank X has two datacenters in two major cities in India. They have a big team to manage their network.. base salaries are 20L plus p.a. They remain on their toes all day long. A downtime means gaand mein rod... worse, losing the job. The team was downsized this month with three well certified chaps losing their jobs.

Then there's application development, support and related charges. The rant by end user is - Itna paisa daal ke bc ek cheque clear nahi ho raha... bc mc...
 
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Kumata

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Now a days SBI guys are not allowing to withdraw money using simple slip. They are asking for cheque.
They wud have got targets for cheque books Too now from babus.. GST of 18% is not less.. ... Already they have targets for selling add on products like insurance, MF Etc...
 

Kumata

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Every bank demands a self cheque if you want to withdraw cash from your own account these days.

Heard there are done to reduce frauds.. though it would be difficult to eliminate them all.
Not sarkari.banks...u can withdraw using withdraw slip also... Can say from. My. Own experience with SBI & PNB...
 

tribendra bisoi..

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USA based revenue cycle management firm“ R1 RCM” setups a new Center at Commerzone- Porur.The firm has leased near 50,000 sq.ft and plans to hire nearly 3,000 employees by this year end.


Aircraft engine maker Pratt & Whitney will set up an engineering centre in Bangalore. To commence operations in January 2023. First in Asia.

 

another_armchair

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Not sarkari.banks...u can withdraw using withdraw slip also... Can say from. My. Own experience with SBI & PNB...
Not in SBI and IOB in Bangalore at least. Practice is more than a year old.

Friend had to withdraw a few lakhs to pay his interior decorator... SBI simply refused to entertain. Said.. cheque leke aawo... no withdrawal slip for amount over 50k. They come up with their own rules..
 

Kumata

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Not in SBI and IOB in Bangalore at least. Practice is more than a year old.

Friend had to withdraw a few lakhs to pay his interior decorator... SBI simply refused to entertain. Said.. cheque leke aawo... no withdrawal slip for amount over 50k. They come up with their own rules..
May be... Bangalore is for rich Nibba, 's... Mine is poor rural branch in hills.... 😂 😂

He shud have made multiple withdrawals with that 50k slip. 🤣🤣
 

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