ECONOMY & NATION


Indira Jaising (The Leaflet) 04 August 2022
As the Supreme Court prepares to frame questions for adjudication in the ongoing case involving Shiv Sena’s tug of war, the real issues need to be delineated.  ———- At the hearing of the Maharashtra political stalemate before the Supreme Court bench comprising the Chief Justice of...

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Amid the debate over price rise and inflation in the country, a comparison of government data since the year 2014 discloses that the all-India average inflation rate is highest at 6.82% in current year 2022.   As per the government data, the average inflation was 6.65% in 2014, came...

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While digitisation of payments and banking undoubtedly has benefited common people and the government, financial fraud has been on the rise, with nearly 42% of Indians becoming victims in the past three years, a new report showed on Thursday.   In the past three years, only 17% of...

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A total of 18 emergency landings were reported by various airlines in India during the last two years, the Civil Aviation ministry told the Lok Sabha on Thursday.   Recently on July 2, a plane operating from Delhi to Jabalpur was forced to return after the crew noticed smoke in the...

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The Enforcement Directorate (ED) on Wednesday said that they have attached balances of Rs 105.32 crore, lying in various bank accounts and with payment gateway accounts, of 12 NBFCs, namely Inditrade Fincorp Ltd, Aglow Fintrade Pvt Ltd and others and their associated fintech companies in...

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The enforcement directorate (ED) on Wednesday attached assets totalling Rs415 crore in Yes Bank-DHFL Fraud case.   The agency attached the assets worth Rs251 crore of Sanjay Chhabria and the assets worth Rs164 crore of Avinash Bhosale.   The attached assets of Sanjay Chhabria...

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Low-cost carrier SpiceJet is said to be in active discussion with a Middle Eastern carrier for a possible stake sale.   SpiceJet promoter Ajay Singh holds a stake of around 60% in the budget carrier. Sources said a big Middle Eastern airline has expressed interest to pick a 24% stake...

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Sonali Ahuja (The Leaflet) 03 August 2022
On 1st August, a bench at the Supreme Court comprising Justices Hemant Gupta and Vikram Nath set aside the Allahabad High Court’s 2019 order which had found the Uttar Pradesh government’s 1999 order disqualifying persons with locomotor disability from applying for the posts of sweepers as...

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Moneylife Digital Team 03 August 2022
The growth in the operating cash-flows of Bharti Airtel Ltd and Reliance Jio are likely to be sufficient to pay for their 5G spectrum assets and related capex, says Fitch Ratings.   In a report, the rating agency says, "We expect Bharti's and Jio's free cash flow generation to improve...

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The Enforcement Directorate (ED) on Tuesday said it has attached 75 immovable properties including 67 windmills valued at Rs 113.32 crore belonging to the Chennai-based Surana Group of Companies in connection with three cases of Rs 3,986 crore bank fraud.   The ED had initiated money...

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The income-tax (I-T) department has said that its searches on a leading business group in Gujarat, engaged in textiles, chemicals, packaging, real estate and education sector, has led to detection of unaccounted transactions involving over Rs1,000 crore so far.   The searches,...

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With India successfully ending its mega 5G spectrum auction with bids worth Rs1,50,173 crore for 71% of total 5G airwaves, here is the overall breakup of the amount as well as various bands, including the super-expensive 700MHz (megahertz) band that has a 5-10km range which gives good base...

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Moneylife Digital Team 02 August 2022
The income tax (I-T) department has reduced the time limit for e-verification or hard copy submission of the ITR-V (income-tax return verification), post-filing of returns by taxpayers, to 30 days from the current 120 days, from 1st August. E-verification of an I-T return (ITR) completes the...

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Meta-owned WhatsApp banned more than 22 lakh bad accounts in India in the month of June in compliance with the new IT Rules, 2021, the company said on Tuesday.   The platform had banned over 19 lakh bad accounts in the country in May.   The messaging platform also received 632...

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Moneylife Digital Team 01 August 2022
While the prices of liquified petroleum gas (LPG) are increasing unabated, the subsidy given on the refill has come down to just Rs242 crore (provisional) in FY21-22 from Rs37,209 crore in FY18-19, the Union government informed the Rajya Sabha.    Data shared by Rameswar Teli,...

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Mukesh Ambani-led Reliance Jio emerged the top bidder in India's 5G spectrum auction, acquiring 24,740MHz spectrum worth Rs88,078 crore, IT minister Ashwini Vaishnaw announced on Monday.   Sunil Mittal's Bharti Airtel was the second-highest bidder with 19,867MHz spectrum in various...

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Moneylife Digital Team 01 August 2022
The Supreme Court (SC) has asked HDFC Bank Ltd and Housing Development Finance Corporation Ltd (HDFC) to submit details of funds withdrawn from the escrow account of Infrastructure Leasing and Financial Services Ltd (IL&FS).    A bench of justice UU Lalit and justice S Ravindra Bhat...

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A special court in Mumbai on Monday sent Shiv Sena MP Sanjay Raut to the custody of the enforcement directorate (ED) for three days, till Thursday, in a money laundering case arising out of the Patra Chawl land scam. Special PMLA (Prevention of Money Laundering Act) court judge MG...

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Moneylife Digital Team 01 August 2022
India's headline inflation, typically, follows movements in food inflation, as food occupies a 39% share in the average consumer's basket. The least-bothersome component of the consumer price index (CPI) past year—food prices—is, thus, threatening to undermine the Reserve Bank of India's...

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Mobility start-up Bolt Mobility, co-founded by eight-time Olympic gold medalist Usain Bolt, has abruptly disappeared from several of its markets in the US, leaving e-bikes and equipment abandoned amid unanswered calls, the media reported.   Mr Bolt had raised US$40.2mn (million),...

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