ECONOMY & NATION


Moneylife Digital Team 01 April 2025
The Trump administration in the US has announced a 25% tariff on imports of automobiles and some components to protect its industry, supply chains and national security. However, given India’s relatively small share in exporting vehicles and components to the US, the 25% tariff on imports by...

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Moneylife Digital Team 01 April 2025
In a significant ruling, the Mumbai bench of the income-tax appellate tribunal (ITAT) recently held that income additions cannot be made solely based on a statement given by a builder's accountant. The decision reinforces the principle that unverified third-party statements cannot be the sole...

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Moneylife Digital Team 01 April 2025
The India meteorological department (IMD) has forecasted above-normal temperatures across most parts of India from April to June 2025, warning of increased heatwave days. The seasonal outlook indicates that most regions, except for certain areas in west peninsular India and parts of...

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Moneylife Digital Team 01 April 2025
The national financial reporting authority (NFRA) has released an inspection report highlighting significant deficiencies in the audit processes of Deloitte Haskins & Sells LLP (Deloitte). The report, issued on 28 March 2025, scrutinises Deloitte's compliance with auditing and accounting...

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Moneylife Digital Team 31 March 2025
The Indian government has decided to convert its spectrum dues worth Rs36,950 crore from Vodafone Idea Ltd (VIL) into equity, raising its stake from 22.6% to 49%. This move makes the government the largest stakeholder in Vodafone Idea which has been struggling for the past several years. Last...

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Moneylife Digital Team 31 March 2025
The Reserve Bank of India (RBI) allowed banks to increase cash withdrawals charges at automated teller machines (ATMs) by Rs2 to Rs23 per transaction from 1 May 2025. These chrarges will apply for transactions beyond free transactions permitted by banks, RBI says.   In a circular, RBI says,...

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Moneylife Digital Team 31 March 2025
Justice (Retd) Tarun Agarwala, who had been the presiding officer of the Securities Appellate Tribunal (SAT) at Mumbai from December 2019 to December 2023 passed away in Mumbai. Mr Agarwala is understood to have died following injuries sustained in an accident when he was hit by a reversing...

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Moneylife Digital Team 31 March 2025
Reserve Bank of India (RBI) has imposed penalties of Rs1.16 crore on 15 financial institutions, including nine cooperative Banks, three non-banking financial companies (NBFCs), two housing finance companies (HFCs) and one asset reconstruction company (ARC) for non-compliance with the directions...

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Moneylife Digital Team 31 March 2025
The Patna zonal office of the directorate of enforcement (ED) conducted search operations at seven locations across Patna on 27 March 2025 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. During the search operations, cash amounting to around Rs11.64 crore was seized...

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Moneylife Digital Team 29 March 2025
Contrary to her claim and use of social media trolls to attack Moneylife's managing editor, the very same economic offences wing (EOW) of the Mumbai police that she quoted has confirmed to multiple media outlets that actress Preity Zinta had, indeed, defaulted on a loan repayment to the...

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Globally, share buybacks are an extremely popular mechanism for companies to return capital to shareholders, right-size their balance sheets and signal confidence in their financial health. For example, Apple has done buybacks worth US$430bn (billion) over the past five years, boosting its...

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Three months into his tenure as the 26th governor of the Reserve Bank of India (RBI), Sanjay Malhotra delivered a hard-hitting speech at the annual conference of bank ombudsmen, on 17th March. His words raised hopes of a much-needed transformation in how banks handle customer grievances....

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In a striking revelation, the Indian government has disclosed that, while the State Bank of India (SBI) is earning significant fee income from automated teller machine (ATM) cash withdrawals, other public sector banks (PSBs) are struggling with financial losses in this domain. During the past...

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Justice TNC Rangarajan 28 March 2025
Banking has always been built on trust—a fiduciary contract where the bank is responsible for safeguarding customer funds and honouring their instructions. Traditionally, this function was carried out by tellers, who verified signatures and ensured that transactions were legitimate. If a forged...

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Moneylife Digital Team 28 March 2025
The national financial reporting authority (NFRA) has flagged potential breaches of auditor independence provisions and significant self-interest and self-review threats in its recent inspection of SRBC & Co LLP, a member firm of Ernst & Young (EY) India. The regulatory body's findings cast a...

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Meera Emmanuel (Bar  and   Bench) 28 March 2025
The Madras High Court on Friday granted interim anticipatory bail till April 7 to stand-up comic Kunal Kamra in connection with a criminal case registered against him in Mumbai for remarks that allegedly insulted Maharashtra Deputy Chief Minister Eknath Shinde.   Justice Sunder Mohan passed...

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Moneylife Digital Team 28 March 2025
India is becoming an increasingly attractive destination for mid-sized firms to establish global capability centres (GCCs), according to a media report, quoting ANSR, a consultancy firm. Revenue from this segment is projected to grow by 15%-20% between 2024 and 2026. Currently, about 45% of...

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Bar  and   Bench 28 March 2025
The Supreme Court of India on Friday delivered a landmark verdict on the protection of free speech in India as it quashed a Gujarat Police case against Congress Member of Parliament (MP) Imran Pratapgarhi over a poem uploaded by him on social media.   The bench of Justices Abhay S Oka and...

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Moneylife Digital Team 28 March 2025
Reserve Bank of India (RBI) has imposed penalties of Rs25.95 lakh on nine cooperative Banks and one non-banking financial company (NBFC) for noncompliance with the directions issued by the banking regulator. The highest penalty of Rs15 lakh has been imposed on Mumbai-based NKGSB Cooperative...

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Moneylife Digital Team 27 March 2025
The Union government will launch 'a very big cooperative taxi service' says Amit Shah, Union minister of cooperation. He was replying to the discussion on the Tribhuvan Sahkari University Bill 2025 in Lok Sabha. Subsequently, the Bill was passed by the lower house.   "In a few months, a very...

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