ECONOMY & NATION


In a bizarre incident, OPPO India saw its YouTube channel being terminated on Monday during the live-stream of its much-anticipated flagship smartphones Reno 8 Pro and Reno 8, OPPO Pad Air tablet, and TWS earbuds.   YouTube pulled down the livestream in the middle of the launch event,...

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With curd, paneer, unbranded pre-packaged food items like wheat flour and others coming under the goods and services tax (GST) net from Monday onwards, retailers and manufacturers are discussing how to account for the old stock.   "The GST falls at the time of sale. The problem now...

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With the global economic growth slowing, Morgan Stanley in its research report has revised India's gross domestic product (GDP) growth estimates to 7.2% in FY22-23 from 7.6% and 6.4% for FY23-24 from 6.7%.   According to the report, the consumer price index (CPI) to average 6.5%,...

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A special court on Monday extended by four days the remand of Chitra Ramkrishna, former CEO (chief executive officer) and MD (managing director) of National Stock Exchange (NSE) in connection with the prevention of money laundering case related to the phone tapping of NSE's employees between...

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Moneylife Digital Team 18 July 2022
The ministry of corporate affairs (MCA) has identified and struck off over 112,000 shell companies from FY18-19 till 12 July 2022.    In a written reply to the Lok Sabha, minister of state for finance and corporate affairs, Rao Inderjit Singh reiterated that there is no definition of...

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Pre-owned e-commerce platform CARS24 on Monday saw some high-profile exits, including its global CTO Jitendra Agrawal and business head Kingshuk Sanyal who have left the company to pursue other things.   In a LinkedIn post, Agrawal who joined the company in July 2021, said he will be...

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Moneylife Digital Team 16 July 2022
The central bureau of direct taxes (CBDT) has accused Micro Labs Ltd, the makers of the famous Dolo-650 medicine tablet, of indulging in 'unethical practices' and distributing freebies of about Rs1,000 crore to doctors and medical professionals in exchange for promoting its products. Dolo650,...

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On 7th July, a front-page story in The Economic Times pointed out that almost US$268bn (billion) worth of external debt is due for repayment in the next nine months and contextualised this number as about 44% of India's foreign exchange reserves. The article opined that the rupee was clearly...

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Moneylife Digital Team 16 July 2022
In a severe embarrassment to the Union government, Dredging Corporation of India Ltd (DCI) says it has suspended its managing director and chief executive officer (MD&CEO) GYV Victor for blatantly suppressing facts and making fake claims on his experience criteria for the top post at DCI. Mr...

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Moneylife Digital Team / IANS 15 July 2022
The enforcement directorate (ED) on Friday summoned Mumbai's former police commissioner Sanjay Pandey in connection with a prevention of money laundering case related to the phone tapping of National Stock Exchanges's (NSE's) employees between 2009 and 2017.   On Thursday, the ED got...

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The Supreme Court has held that a woman, who was in a relationship with a man and willingly staying with him, cannot file a case of rape, after the relationship had gone sour.   It ordered release of the appellant on bail to the satisfaction of the competent authority.   A...

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The enforcement directorate (ED) on Thursday arrested Chitra Ramkrishna, the former CEO-cum-MD (chief executive officer-cum-managing director) of the National Stock Exchange (NSE) in connection with a money laundering case pertaining to allegedly tapping the phones of NSE employees between...

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The enforcement directorate (ED) on Thursday said they have arrested four persons in a money laundering case linked to a reported Rs 3,986 crore worth bank loan fraud by Chennai-based Surana group of companies.   The arrests were made on 12th July. The accused were identified as...

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The Supreme Court (SC) on Wednesday expressed displeasure with the interim orders passed by the Patna High Court (HC) in connection with Sahara India Group Head, Subrata Roy, in relation with an anticipatory bail application of a third person.   A bench of justices AM Khanwilkar and...

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Moneylife Digital Team 14 July 2022
Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro-, small- and medium-sized enterprises (MSMEs), will test banks' loan underwriting quality. However, asset-quality risks from higher rates should generally be moderate for most banks, says a...

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Words like 'jumlajeevi', 'dohra charitra', 'baal buddhi', and 'Snoopgate' have been declared 'unparliamentary' in both the Houses -- Lok Sabha and Rajya Sabha.   A new booklet by the Lok Sabha Secretariat lists out unparliamentary words and expressions. These include 'anarchist',...

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The WPI-based inflation declined marginally in June to 15.18 per cent against 15.88 per cent in May, due to a dip in prices of manufactured products but those of primary articles and fuel and power still edging up, an official statement said on Thursday.   The high rate of inflation...

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A court in Punjab's Patiala on Thursday dismissed the plea of leading bhangra-pop singer Daler Mehndi against his two-year jail in a 19-year-old human trafficking case. He was subsequently arrested and sent to a local jail.   He was convicted along with his brother in March 2018 and...

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In a relief, the Maharashtra government has slashed VAT on petrol and diesel by Rs 5 per litre and Rs 3 per litre respectively, Chief Minister Eknath Shnde announced here on Thursday.   This would entail a burden of Rs 6,000 crore on the state exchequer but will lead to reducing the...

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Cryptocurrency lending company Celsius Network, that recently laid off 150 employees, has now filed for bankruptcy in the US amid extreme market conditions.   The platform said that it initiated voluntary Chapter 11 bankruptcy proceedings to provide it with the opportunity to...

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