DAILY NEWS: OUR PICKS


Moneylife Digital Team 14 February 2024
The income-tax (I-T) department is learnt to have prepared an assessment report on how insurers used a string of intermediaries to pay off extra commission—over and above allowed under regulations—to their agents selling insurance policies, says a report. The I-T department estimates the...

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Moneylife Digital Team 14 February 2024
The managing director (MD) of New Tirupur Area Development Corporation Ltd (NTADCL) is understood to have filed a complaint with the registrar of companies (RoC) at Coimbatore, seeking a directive to prevent nominee directors of Infrastructure Leasing & Financial Services (IL&FS)—its parent...

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Moneylife Digital Team 14 February 2024
The Securities and Exchange Board of India (SEBI) has rejected a settlement application filed by the National Stock Exchange (NSE) in the NSE co-location (Colo) case, says a report from Moneycontrol quoting two people with direct knowledge of the matter.   Sources told the portal that...

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Moneylife Digital Team 14 February 2024
Four independent directors of Binny Ltd agreed to pay Rs42.57 lakh to settle the adjudication proceedings initiated by the Securities and Exchange Board of India (SEBI) for violating SEBI regulations and failing to act independently. Those who agreed to settle the matter include justice...

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Moneylife Digital Team 14 February 2024
Venus Pipes & Tubes (Venus) reported better than expected performance in Q3FY23-24, with most of its capital expenditure (capex) being completed. It has started reaping its benefit, with margin expansion. The performance was led by high volume growth, despite softening in prices and better...

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IANS 14 February 2024
Indian banks face a slowdown in growth and profit margins as deposits lag, despite higher interest rates.   In the 2023 October-to-December quarter, most major banks reported income gains, but net interest margins (NIM) declined due to tighter liquidity and rising funding...

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Moneylife Digital Team 14 February 2024
Insurance Regulatory and Development Authority of India (IRDAI) has released a draft regulation for an insurance electronic marketplace (IEM) Bima Sugam, the one-stop solution for all stakeholders, including customers, insurers, intermediaries or insurance intermediaries and insurance...

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Moneylife Digital Team 14 February 2024
Expressing concerns over unscrupulous entities and online platforms falsely claiming to be registered intermediaries and offering huge returns, market regulator  Securities and Exchange Board of India (SEBI) urged investors to exercise utmost vigilance and due diligence before entrusting...

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IANS 14 February 2024
Ronnie Screwvala, serial investor and Co-founder/Chairperson of edtech platform upGrad, on Wednesday slammed Byju's and its Founder and CEO Byju Raveendran for the company’s downfall, saying that “one rotten apple” in the Indian edtech space should not affect the entire edtech...

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IANS 14 February 2024
Inflation in the US, which cooled in January, rose again exceeding Wall Street’s expectations, signalling that the Federal Reserve might hold back its reported move to cut interest rates.   The Fed halted the rate hike after a 52-week long fight to rein in the price pressures on the...

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IANS 14 February 2024
After the Singhu, Tikri and Ghazipur borders were completely sealed in view of the farmers' 'Delhi Chalo' march, the Delhi traffic police have issued an advisory for commuters for alternate routes and diversions.   On Tuesday, police had completely sealed Tikri, Singhu and Ghazipur...

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IANS 13 February 2024
Billionaire Sajjan Jindal-led JSW Steel has formed a joint venture with Japan's JFE Steel Corporation to invest Rs5500 crore for setting up a plant to manufacture grain-oriented electrical steel in India, JSW said in a statement on Tuesday.   The factory, to be built in...

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IANS 13 February 2024
Total funding into Karnataka-based tech start-ups sharply fell 72% to US$3.4bn (billion) in 2023, from US$12.2bn in 2022, a new report said on Tuesday.   This decline can be attributed to the prevailing macroeconomic conditions and geopolitical issues as the total number of US$100mn...

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IANS 13 February 2024
Prime minister (PM) Narendra Modi on Tuesday launched the Rs75,000 crore rooftop solar scheme for providing free electricity to consumers.   PM Modi said, "In order to further sustainable development and people’s wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This...

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IANS 13 February 2024
The Mumbai metropolitan region development authority (MMRDA) has got the green signal for its proposed connector for the Mumbai trans harbour link (MTHL) at Chirle which will be linked with the Mumbai-Pune Expressway, officials said in Mumbai on Tuesday.   The new Chirle connector,...

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IANS 13 February 2024
The Sharad Pawar faction has filed a petition in the Supreme Court against the decision of Election Commission (EC) recognising the faction led by Maharashtra Deputy Chief Minister Ajit Pawar as the 'real' Nationalist Congress Party (NCP) and allotting it the party's 'clock'...

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Moneylife Digital Team 13 February 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.75 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2.50 lakh has been imposed on Pusad Urban Cooperative Bank Ltd from Maharashtra.   Other banks...

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IANS 13 February 2024
Shaken by the sudden departure of senior leader and former CM (chief minister) Ashok Chavan, the Congress' Maharashtra Congress on Monday went into a damage control mode to ensure that any further possible 'leaks' could be plugged.   State party chief Nana Patole rushed to...

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IANS 13 February 2024
The president of Supreme Court Bar Association (SCBA) has written a letter to the chief justice of India (CJI) DY Chandrachud to initiate suo motu action against the farmers for forcibly trying to enter Delhi.   In his letter to CJI, SCBA president Adish Aggarwala on Tuesday said that...

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Moneylife Digital Team 13 February 2024
Vibhor Steel Tubes Ltd (Vibhor) manufactures and exports mild steel and carbon steel ERW (electric resistance welded) black and galvanised pipes, hollow steel pipes, cold-rolled (CR) steel strips and coils. It has been a manufacturer, exporter and supplier of steel pipes & tubes to various...

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