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Over 12k fake entities in GST; CBIC plans biometric authentication, tighter return filing

CFO News

The Central Board of Indirect Taxes and Customs (CBIC) in India is planning to introduce biometric authentication and geo-tagging in an effort to crack down on GST fraud. The biometric authentication will be used to verify the identities of individuals connected to businesses that are suspected of fraudulent activity.

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Bajaj Hindusthan sugar proposes second restructuring plan

CFO News

The company owes a group of 10 lenders led by State Bank of India (SBI) a total of ₹4,900 crore. Delays in payments had meant the account was tagged as NPA in the fourth quarter of last fiscal. However, the company cleared its outstanding dues in the last three months and has proposed a fresh payment schedule to banks.

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Reliance Says It Will Roll Out 5G In Late 2021

PYMNTS

Reliance Jio Infocomm will debut 5G high-speed internet in India starting in the second half of 2021, a report from LiveMint.com says, quoting Chairman Mukesh Ambani. Ambani, speaking at the fourth edition of the India Mobile Congress, said the solution for fifth-generation wireless service would be built indigenously.

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Google Reports Resurgence In Pandemic Hacking, Phishing

PYMNTS

Google’s security experts had their hands full in April, as its Threat Analysis Group ( TAG ) emailed 1,755 warnings to users whose accounts were targets, the California-based global technology company wrote on its blog Thursday (May 27). Slovenia, Canada, India, Bahrain, Cyprus, and the U.K.

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Apple iPhone X Not Making Inroads In Asia

PYMNTS

but its price tag of $999 and up might be hurting demand in some of the largest Asian markets. According to news from The Wall Street Journal , shoppers in Asia, including in India and Indonesia, are choosing Chinese smartphones from the likes of Xiaomi, OPPO and Vivo over the iPhone X. Apple ’s iPhone X may be doing well in the U.S.,

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Facebook Moves Toward Combining Messenger, Instagram Chat

PYMNTS

A “From Facebook” tag will be will be visible in all marketing for Instagram and WhatsApp brands. Facebook is close to launching its WhatsApp payments service in India. The service has been in beta mode in India for 1 million users, but the nationwide debut has been delayed due to government regulations.

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RBI To Allow Non-Bank And UPI Methods For FASTags Payments

PYMNTS

The Reserve Bank of India (RBI) has made some payment moves to boost the National Electronic Toll Collection (NETC) in the country, according to the Business Standard. . The requests are going to be handled by the National Payments Corporation of India (NPCI).

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