DAILY NEWS: OUR PICKS


Moneylife Digital Team 03 December 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs5 lakh each on two cooperative banks for non-compliance with the directions issued by the banking regulator. The banks penalised are Patiala Central Cooperative Bank Ltd from Punjab and Panchkula Central Cooperative Bank from...

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Moneylife Digital Team 03 December 2024
Reserve Bank of India (RBI) has revoked the certificate of registration (CoR) of Zavron Finance Pvt Ltd, a Nagpur-based non-banking financial institution (NBFI), citing serious violations of its guidelines on digital lending practices.     In its statement, RBI pointed out that Zavron Finance...

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Moneylife Digital Team 03 December 2024
Expressing concern over the rising sums of money lying in inoperative or frozen bank accounts, the Reserve Bank of India (RBI) says its supervisory inspections have revealed a slew of problems due to which accounts are becoming inoperative or frozen. The central bank has asked banks to...

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Over the past two months, in four separate columns, I have highlighted the significant slowdown in the Indian economy which is now clearly reflected in the stock prices of major sectors such as passenger cars, consumer goods, banks, financial services and infrastructure. The two key market...

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Moneylife Digital Team 02 December 2024
The poly-film industry caters to a variety of sectors, such as packaging, automotive films, architectural applications, yarn, specialised industrial uses, thick insulation films and shrink label applications, among others. This company’s sun-control films and high heat rejection films have...

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Moneylife Digital Team 02 December 2024
Market regulator Securities and Exchange Board of India (SEBI) imposed a penalty of Rs2.18 crore on the 18 entities while ordering them to disgorge Rs2.24 crore, the illicit profits earned through fraudulent trading activities in the scrip of Continental Seeds and Chemicals Ltd...

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Moneylife Digital Team 02 December 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed penalties of Rs15 lakh on Brickwork Ratings India Pvt Ltd and Acuite Ratings & Research Ltd for rating securities issued by borrowers of their promoter entities.   In two separate orders, Amar Navlani, the adjudicating...

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In a case of better late than never, the citizens of Jammu & Kashmir have, at last, got their own RTI portal (www.rtionline.jk.gov.in), which was launched early this week, with 270 public authorities to whom you can address your RTI request and 27 pages of lists of nodal officers with their...

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Moneylife Digital Team 02 December 2024
For committing certain fraudulent acts involving 4B Networks Pvt Ltd funds, the Bandra police have registered a first information report (FIR) against 4B Networks' Rahul Yadav, Devesh Singh, Pratik Choudhary, Sanjay Saini and others. Allcheckdeals India Pvt Ltd (AIPL), a unit of Info Edge Ltd,...

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Moneylife Digital Team 02 December 2024
India is expected to emerge as the third-largest auto-components market globally by 2025 with a projected market size of around US$206bn (billion) by 2030. Uno Minda is one of India's most diversified manufacturers of auto-components, with a portfolio of 26 product lines spanning automotive...

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Moneylife Digital Team 02 December 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs9 lakh on Reliance Securities Ltd for violating market norms and stockbroker regulations. This action follows a thematic inspection conducted by SEBI, along with the National Stock Exchange (NSE) and the...

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Charu Bahri (IndiaSpend) 02 December 2024
In late September 2024, the high court of Chhattisgarh registered a suo motu public interest litigation (PIL) over two non-functional oxygen plants at the Bilaspur district hospital, alleging that the plants had been operated by untrained operators and that their failure necessitated that the...

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Sahyaja MS (Bar  and   Bench) 02 December 2024
Last week, the Bombay High Court imposed a Rs5 lakh cost on a litigant for filing a frivolous writ petition that wasted over two and a half hours of the court's time (GB Industries Reg. Partnership v Minakshi Balasao Magdum and Ors).   The Bench, comprising Justices GS Kulkarni and Advait M...

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Amid the uproar surrounding the indictments and arrest warrants in the sprawling Adani bribery scandal, the glaring silence of a central player—Solar Energy Corporation of India (SECI)—stands out.   The policies of SECI, a Central public sector undertaking (PSU) are at the heart of the...

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A sullen central excise inspector was/ is more disruptive to a business than a power outage or transporters' strike!   Reference to a central excise inspector is merely symbolic and annotative. The expression shall encompass similar government functionaries who have power over a business and...

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Moneylife Digital Team 29 November 2024
Holding State Bank of India (SBI) responsible for not personally informing the borrower about withdrawing free personal accident insurance cover, the national consumer disputes redressal commission (NCDRC) directed SBI to waive the home loan outstanding of Rs14.30 lakh and pay Rs75,000 as...

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While the number of cyber fraud incidents is increasing, what is more worrisome is how easily criminals are duping senior citizens. A 75-year-old man lost over Rs11 crore in Mumbai's second biggest cyber fraud of 2024 after sending money to different bank accounts to invest in the stock. In...

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Moneylife Digital Team 29 November 2024
Almost 28% of the grains supplied by the Food Corporation of India (FCI) and state governments never reach the intended beneficiaries, which amounts to a financial loss of about Rs69,108 crore, equivalent to roughly 20mn (million) metric tonnes (MMT) of rice and wheat. North-eastern states...

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Chandramouli Mohan 29 November 2024
Travelling abroad is meant to blend adventure and relaxation, a break from the daily grind. But for Mr Nagaraj (name changed), his recent vacation to a Southeast Asian country became an unintended saga of tech troubles and unanticipated legal battles, all thanks to a botched international...

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Vrunda, a friend, often thought her mobile phone had become relatively slow. When she asked around on social media, someone suggested that she download a mobile cleaning app to remove unnecessary and junk files from the device. She searched and downloaded a mobile cleaning app that looked good...

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