DAILY NEWS: OUR PICKS


Even as millions of new investors enter the capital market, our investor grievance redress system remains broken. Two recent orders that have gone against the Securities and Exchange Board of India (SEBI) expose the frightening state of affairs.   Blame Game with Intermediaries: On...

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Last week, I was chatting with a retired banker who has his savings invested largely in stocks. Like many thoughtful people hoping to see a just and equitable society, he was concerned about “what’s going on in the country”. He wants a change for the better. Then, he hastened to add with a...

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Subhash Chandra Agrawal 08 December 2023
The Consumer Protection Act 2019 needs root-level changes either in the Act itself or by modifications in rules so that the need for filing complaints may not arise. A very small fraction of consumers approach consumer forums for their consumer rights against the malpractices of big...

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Moneylife Digital Team/ IANS 08 December 2023
Coming down heavily on two chartered accounts (CAs), one of them who worked as an engagement partner (EP) for professional misconduct while conducting a statutory audit of Dewan Housing Finance Corporation Ltd (DHFL) for FY17-18, the national financial reporting authority (NFRA) barred them...

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Moneylife Digital Team 08 December 2023
The Reserve Bank of India (RBI) has cancelled the licences of over 15 cooperative banks since January 2023 alone. The pace at which cooperative bank licenses have been cancelled has shot up since dual regulation of cooperative banks was cancelled, and they were put under the exclusive...

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Moneylife Digital Team 08 December 2023
Indian Pharmacopoeia Commission (IPC) has issued a drug safety alert about Meftal, a  painkiller, stating that its constituent, mefenamic acid, can cause adverse reactions. Meftal is a commonly used drug for menstrual cramps and rheumatoid arthritis. Meftal is manufactured and sold by Blue...

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Many Indians think that the year's most significant discounts and offers end with Diwali. With online shopping, it no longer holds true. Most online e-commerce portals align their marketing with global practices so festive and holiday discounts remain active until the first week of January....

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Moneylife Digital Team 08 December 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Sitapur, Uttar Pradesh-based Urban Cooperative Bank Ltd, due to the lender's inadequate capital and poor earnings prospects. RBI has asked the Bank to stop banking business from 7 December 2023.   RBI...

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Moneylife Digital Team 08 December 2023
Special economic zones (SEZ) providing a big relief to commercial office owners, the government of India (GoI) has allowed floor-wise denotification of information technology (IT) and information technology enabled services (ITeS) SEZs, fulfilling a long-standing industry demand. The sunset...

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Moneylife Digital Team 08 December 2023
Reserve Bank of India (RBI) has imposed Rs3.10 lakh penalties on four cooperative banks for violating various laws prescribed by RBI. Of these, three belong to Maharashtra and the other to Telangana. The banks penalised are Patan Cooperative Bank Ltd, Prathamik Shikshak Sahakari Bank Ltd,...

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Lensa is a different type of photo editor—it combines photo editing with artificial intelligence (AI) art. It is most suitable for retouching portrait selfies. Forget about conventional filters and photo-editing tools. The app has many photo-editing filters and techniques for pictures to get...

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IANS 08 December 2023
The Reserve Bank of India (RBI) will soon lay down the regulatory framework for web-aggregation of loan products since the customers are being harmed now, said the Central bank Governor Shaktikanta Das.   “Several concerns relating to such web-aggregation of loan products harming...

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IANS 08 December 2023
Enhancing the payment limits for Unified Payments Interface (UPI), electronic mandates, setting up of cloud facilities, the financial sector and fintech repository were some of the major announcements made by the Reserve Bank of India Governor, Shaktikanta Das on Friday.   Das...

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Sparks flew after Narayana Murthy asked the nation’s youth to work 70 hours a week. Though a few industrialists did support Mr Murthy, most of the other opinions were decidedly against the notion.   Now that feelings have been vented, and the dust has settled, it is time to look at...

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Moneylife Digital Team 08 December 2023
Ganesha Ecosphere Limited (Ganesha), which is in the business of recycling polyethylene terephthalate (PET) waste to polyester staple fibre (PSF), high density polyethylene (HDPE), polypropylene (PP), recycled polyester partially oriented yarn (POY), fully drawn yarn (FDY) and recycled...

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IANS 08 December 2023
Singer-songwriter Taylor Swift, who has been getting a lot of positive response to her Eras Tour, has been named ‘Time’ Person of the Year by the magazine.   With this, Taylor Swift has become first solo artiste and the first woman to appear twice on its annual honourary cover since...

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IANS 08 December 2023
For the employees of public sector banks (PSBs), 2023 ends on a happy note as the Indian Banks' Association (IBA) on Thursday inked a 17 per cent annual wage hike agreement with bank unions.   The wage revision will be effective from 1.11.2022 for a period of five years.   The...

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IANS 08 December 2023
The Securities Appellate Tribunal (SAT) has set aside the Securities Exchange Board of India (SEBI)’s order restraining IIFL Securities from taking new clients for a period of two years, and has reduced the penalty imposed on the brokerage firm to Rs 20 lakh from Rs 2 crore.   SAT in...

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IANS 08 December 2023
Japanese investment giant SoftBank is likely to sell shares of online food delivery platform Zomato worth $135 million (about Rs 1,125.5 crore) via a block deal, media reports said on Thursday.   The shares will be sold at a price of Rs 120.50 per share, reports CNBC TV-18, citing...

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IANS 08 December 2023
Global watchdog group Aviation Working Group (AWG) downgraded India to "negative" from "positive" on Thursday as foreign lessors have not been able to get back their aircraft from Wadia group’s grounded airline Go First, which declared bankruptcy seven months ago.   AWG's downgrade is...

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