ECONOMY & NATION


CNN has surprisingly shut down its crypto and Web 3.0 project called 'Vault' where the company aimed to sell non-fungible tokens (NFTs) of news stories.   The shocked users accused CNN of a "rug pull", a term used when crypto developers abandon a project and run away with investors'...

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Yogesh Sapkale Yogesh Sapkale 10 October 2022
Canara Bank, the country's fourth-largest public sector bank (PSB), continues to write off bad loans of big defaulters who have borrowed Rs100 crore and more. At the same time, the Bank refuses to share names of these big defaulters under the Right to Information (RTI) Act, again wrongly...

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Moneylife Digital Team 10 October 2022
Driven by the expected healthy growth in the assets under management (AUM) and the improvement in profitability, non-banking financial companies-microfinance institutions (NBFC-MFIs), are witnessing a turnaround. With healthy portfolio growth and improved profitability, NBFC-MFIs are...

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A case against Infosys by a former recruiter alleging that 'to her shock' the tech giant discriminated against Indians, can proceed, a federal judge in New York has ordered.   Judge J Paul Oetken, hearing the case in New York, threw out late last month requests by Infosys and its...

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Navratri 2022 did not give sleepless nights to the automobile dealers as sales went up by 57% compared to corresponding period in 2021, said the Federation of Automobile Dealers Association (FADA).   According to FADA, when compared to Navratri 2019, the sales during the current year...

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India is among the countries with highest number of Android trojan detections and a cloned, third-party unofficial version of WhatsApp is leading in spying on people's chats in the country, a new report has warned.   Behind a large portion of Android spyware detection in the past four...

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After the Centre imposed 5 per cent GST on unbranded labelled and pre-packaged food items weighing less than 25 kg in July, most of the companies are now packing their goods, in excess of 25 kg, in a single packet to be exempted from the tax levy.   In a notification, the Central...

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Meta has warned at least 1 million Facebook users about more than 400 malicious Android and iOS apps targeting them to steal their login information and compromise their accounts.   According to the company, it reported its findings to Apple and Google and are helping potentially...

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World's largest cryptocurrency exchange Binance has confirmed that hackers have stolen more than $100 million from its platform.   The Binance Blockchain, also known as BNB Chain, said that a total of 2 million BNB tokens -- worth nearly $568 million -- were initially stolen by the...

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The Finance Ministry on Friday invited expression of interest (EoI) for strategic disinvestment in IDBI Bank, a move which would allow sale of a joint stake of the government and LIC of up to 60 per cent in the bank.   As per the bid details issued by the Department of Investment and...

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The skyrocketing of the US dollar against various currencies in 2022 is posing problems for advanced and emerging markets, but there is no easy option available, said S&P Global Ratings.   According to the report, the resolution of the issue is not just dependent on economics but also...

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Moneylife Digital Team 07 October 2022
The Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday launched a new 'SupTech' initiative called DAKSH. This application will be the bank's advanced supervisory monitoring system, which is expected to make the supervisory processes more robust.   RBI said it has been...

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Moneylife Digital Team 06 October 2022
Tightening liquidity conditions and ensuing volatility in asset prices could impact the entities having reliance on equity infusions through initial public offerings (IPOs), rights issues or monetisation of assets, says a research note.   In the report, India Ratings and Research...

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With the judge in the Twitter-Elon Musk case declaring that the micro-blogging platform could hunt for Mr Musk's secret chats with whistle-blower Peiter 'Mudge' Zatko, the Tesla CEO (chief executive officer) may have decided to make a turnaround and announce to go ahead with the US$44bn...

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Fresh death threats were made on Wednesday to billionaire industrialist Mukesh Ambani and his family members, and to blow up the Sir H. N. Reliance Foundation Hospital in south Mumbai.   Calls were received at the HNRF Hospital's call centre at 12.57 p.m. and at 5.04 p.m. warning to...

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More than 51 per cent of the total Bitcoin trading volume on various crypto exchanges this year is fake amid volatile global economic conditions, a new report has claimed.   Bitcoin is the blue chip of cryptocurrency and represents 40 per cent of the total crypto assets outstanding in...

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Moneylife Digital Team 04 October 2022
The phone tapping case in the National Stock Exchange (NSE) is taking curious turns. Ravi Narain, former managing director and chief executive officer (MD&CEO) of NSE, is the only one to have been granted bail. He is understood to be out on interim bail for two weeks since 30th September....

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Moneylife Digital Team 04 October 2022
Competition Commission of India (CCI) on Tuesday approved the Sony-Zee merger based on several conditions. CCI has imposed limits to prevent Zee Sony from abusing its dominating market position.    In December 2021, Sony and Zee announced that they will integrate their television...

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Moneylife Digital Team 04 October 2022
The recent hike in natural gas prices by 40% will moderate India's city gas consumption volume growth to 8%-10% this fiscal year versus an earlier projection of 20%-25%, says a research report by CRISIL Ratings.    On 30 September 2022, the ministry of petroleum and natural gas...

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Top IT (information technology) and tech firms like Wipro, Infosys and Tech Mahindra have reportedly revoked offer letters given to students after delaying their joinings by nearly three-four months.   According to reports, hundreds of freshers were given offer letters but, first, the...

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