ECONOMY & NATION


Moneylife Digital Team 21 April 2022
In what appears to be a new method to dupe gullible people, a 26-year-old lost Rs3 lakh when he fell for a video call made by a fake officer from the Delhi crime branch, says a report.   In the report, the Times of India, says the scamster told the person that he faced a case...

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The Supreme Court on Wednesday asked the enforcement directorate (ED) to propose steps to bring back home buyers money, amounting to Rs5,000 crore diverted to tax havens, as revealed in a forensic audit.   At the beginning of the hearing, Additional Solicitor General N. Venkataraman,...

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The global chip shortage, that plagued several industries like automotive and consumer electronics, is set to ease during the second half of the year despite lock-downs in China as demand-supply gaps decrease across most components, a new report has said.   The second half of 2022...

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The Centre's fertiliser subsidy bill is set to touch an all-time high of Rs1.65 lakh crore this fiscal against Rs1.05 lakh crore budgeted, due to an unprecedented rise in the cost of raw materials.   As per Crisil Ratings, in the past two fiscals, it has paid an additional Rs1.2 lakh...

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Ibad Mushtaq (The Leaflet) 21 April 2022
While we may have gathered a somewhat limited understanding of who is an Indian citizen, do we, as a people, understand what citizenship means and entails; more particularly, do the State and the so-called mass leaders understand the Indian idea of citizenship, its importance as also of the...

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Lemons are now being offered free with mobile accessories.   A shopkeeper in Varanasi is offering free lemons on the purchase of mobile accessories.   The shopkeeper is also claiming to offer free petrol to consumers buying mobile accessories worth Rs 10,000.   The...

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Moneylife Digital Team 20 April 2022
Only 23 political parties have so far opened current accounts with the State Bank of India (SBI) and are, thus, eligible for redemption of electoral bonds (EB), reveals a reply received under the Right to Information (RTI) Act.    Information obtained by Commodore (Cmde) Lokesh Batra...

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Moneylife Digital Team 20 April 2022
HDFC Ltd has entered into binding agreements to sell its 10% stake in its subsidiary HDFC Capital Advisors Ltd (HDFC Capital) to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs184 crore. ADIA is also the primary investor in the alternative investment funds...

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Moneylife Digital Team 20 April 2022
Interest-free refundable security deposits are not exigible (liable to be exacted or required) to service tax since they are not collected in consideration for providing a service, rules the Ahmedabad bench of the customs, excise & service tax appellate tribunal (CESTAT).    As per a...

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The Supreme Court has observed that all matters connected with a crime and whether something is a "conclusive piece of evidence" must be dealt with by a court of law, and not through a TV channel.   A bench of Justices U.U. Lalit and P.S. Narasimha said: "All matters relating to the...

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The Supreme Court has criticised the practice of courts pronouncing the final orders without a reasoned judgment, saying it has to be "stopped and discouraged".   A bench of Justices M.R. Shah and B.V. Nagarathna said: "Despite the strong observations made by this court as far as back...

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Moneylife Digital Team 19 April 2022
Nischal Shetty and Siddharth Menon, co-founders of Indian cryptocurrency exchange WazirX, have shifted their base to Dubai from India, says a report from Business Today quoting multiple sources with the knowledge of the matter.   Sources told the news portal that both Mr Shetty and Mr...

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Moneylife Digital Team 19 April 2022
Reflecting the deterioration in domestic financial conditions, CRISIL Ratings' Financial Conditions Index (FCI) dropped below the zero mark in March, indicating that the economic conditions were tighter than in the previous month and relatively tight compared with average conditions in the...

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Moneylife Digital Team 19 April 2022
Notwithstanding sporadic periods of constant retail prices amidst heightened volatility in oil prices, retail prices of petrol and diesel in  India and, consequently, the marketing margins of the oil-marketing companies (OMCs), should remain aligned with the movement in crude oil prices over...

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India's 2070 net-zero target and intermediate goals through 2030 present significant policy implementation challenges for the government, carving a more central role for private companies and investors to drive the transition, according to a new report by global financial services company...

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In relief for several thousands of Amrapali home-buyers, who booked their flats under subvention scheme, the Supreme Court on Monday directed the banks not to impose penalties on default of EMI (equated monthly instalment) payment.   A bench of justices UU Lalit and Bela M Trivedi...

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As Covid cases are rising in many states, the Uttar Pradesh government on Monday made the mask wearing compulsory at public places in 6 NCR districts and capital Lucknow.   Use of masks is now mandatory in public places in Gautam Buddh Nagar, Ghaziabad, Hapur, Meerut, Bulandshahr, and...

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Moneylife Digital Team 18 April 2022
The enforcement directorate (ED) has attached assets worth Rs757.77 crore belonging to Amway India Enterprises Pvt Ltd, a company accused of using products to masquerade a multi-level marketing (MLM) fraud under the disguise of a direct selling company. In a statement, ED says,...

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High cost of 'fuel and power', due to the Russia-Ukraine war, along with those of primary articles pushed up India's March 2022 wholesale inflation to a 4-month high level.   Accordingly, the annual rate of inflation, based on wholesale prices, rose to 14.55% last month from 13.11%...

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Alarmed at the recent fraud allegations at some of its portfolio start-ups like BharatPe, Zilingo and Trell, top investor Sequoia Capital India on Sunday said it will continue to respond strongly when it encounters 'willful misconduct or fraud', and take tough action wherever...

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