ECONOMY & NATION


Moneylife Digital Team 05 August 2021
The parliamentary standing committee on finance headed by Lok Sabha member and former minister of state for finance Jayant Sinha has noted in its report that banks are parking their stressed assets with asset reconstruction companies (ARC) to hide the actual extent of bad debts and cautioned...

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Moneylife Digital Team 05 August 2021
After Cairn Energy embarrassed the government by secured an order from a French court to seize about 20 properties in Paris belonging to India, the Narendra Modi government has finally decided to amend the retrospective amendment introduced in 2012. The retrospective amendment of the law to...

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The Supreme Court on Thursday said allegations of the Pegasus-related snooping are serious, if the reports in the newspapers are correct, and sought the Centre's stand on petitions, including by the Editors Guild of India and senior journalist N. Ram, seeking a probe into the Israeli spyware...

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The government will resume blocking of E-way Bill (EWB) generation facility for all taxpayers who fail file their monthly or quarterly GST return for two successive periods.   E-way is a permit needed for inter-state and intra-state transportation of goods. If this is blocked, the...

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The Enforcement Directorate (ED) has issued notices to Flipkart, its founders and nine others in connection with foreign exchange violation case, officials said on Thursday.   A senior ED official related to probe told IANS, "Yes, a notice has been issued to Flipkart, its founders and...

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Automobile major Maruti Suzuki's production will be partially impacted in August due to semiconductor shortages.   On Wednesday, the auto major, in a regulatory filing to the BSE, said that the company has been informed by its contract manufacturer -- Suzuki Motor Gujarat -- that...

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 Covid-19-triggered local restrictions continued to subdue India's service sector production in July, but the rate of declined has slowed, the IHS Markit India Services PMI report said.   Business activity, new orders, and employment declined further, but in all cases, the rates of...

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The Rajya Sabha on Wednesday cleared the 'Limited Liability Partnership Amendment Bill' that aims to accelerate the 'Ease Of Doing Business' campaign of the government and brings regulations for this segment at par with other large companies.   The bill was earlier cleared by the Lok...

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Kumar Mangalam Birla has stepped down as the Non-Executive Director and Non-Executive Chairman of the Board of Vodafone Idea Ltd.   In a regulatory filing, the company said that the company has accepted the request of Birla to step down.   "The Board of Directors of Vodafone...

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Moneylife Digital Team 04 August 2021
While dismissing a special leave petition (SLP), the Supreme Court has upheld that the online fantasy sports format offered by Dream11 is game of skill. The SLP has alleged that the online fantasy sports (OFS) format offered by Dream11 amounted to gambling, wagering and betting and is not a...

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Moneylife Digital Team 04 August 2021
The Parliamentary standing committee on finance’s report on the Insolvency and Bankruptcy Code (IBC) has come down heavily on the Union government and pointed out a number of shortcomings in the Code while recommending an overhaul.   Taking a grim view, the standing committee headed...

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Yogesh Sapkale Yogesh Sapkale 04 August 2021
Around two months ago, Moneylife wrote how Dr Rahul Pawar, a bright and hard-working young doctor who had risen from abject poverty, had contracted COVID while working to treat patients in Latur. On 26 May 2021, he succumbed to the deadly virus after a long battle with COVID and...

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India has till date operationalised 361 air routes under the regional connectivity scheme 'Ude Desh Ka Aam Nagrik' or RCS-Udan.   The scheme was launched in 2016. Under it, airlines are provided with a 'Viability Gap Funding' to keep fares affordable and accessible.   "Till...

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Tamil Nadu Finance Minister, P.T.R. Palanivel Thiagarajan will release a 120-page white paper on the state's finances on August 9. The white paper will include the state's liabilities and the reasons for loss of revenue in various sectors.   The white paper is primarily aimed at...

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The Reserve Bank of India (RBI) has cautioned the public from falling prey to offers of buying or selling of old bank notes and coins.   In a statement, the central bank said that certain elements are fraudulently using the name and logo of the Reserve Bank of India, and seeking...

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Moneylife Digital Team 04 August 2021
The Enforcement Directorate (ED) has arrested Avantha Group promoter Gautam Thapar, under the Prevention of Money Laundering Act (PMLA).    He is expected to be produced before a local court on Wednesday where the ED will seek his custodial interrogation.    The central agency...

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Anand Singh (IANS) 04 August 2021
Former Central Bureau of Investigation (CBI) Director Alok Kumar Verma, who was unceremoniously removed from the post may have to face disciplinary action and even lose his retirement benefits for allegedly "misusing his position" as the central agency director and violating rules during his...

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Chief Justice N.V. Ramana on Wednesday recused himself from hearing the Krishna River water dispute between Andhra Pradesh and Telangana, after the Andhra counsel said the matter will require legal adjudication as mediation did not work.   On Monday, Justice Ramana had indicated that...

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The Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of tax forms in view of difficulties reported by the taxpayers and other stakeholders.   The Income Tax Department had mandated electronic filing of certain forms under the...

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Moneylife Digital Team 03 August 2021
The Editors Guild of India (EGI) has filed a public interest litigation (PIL) in the Supreme Court of India (SC), with respect to the media reports on surveillance and hacking of phones of several journalists using the Pegasus software, created and developed by the Israeli company NSO. This...

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