ECONOMY & NATION


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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SN Thyagarajan (Bar  and   Bench) 27 March 2025
The National Company Law Tribunal (NCLT) on Thursday ordered status quo on the shareholding of Aakash Education Services Limited (Aakash Institute) on a plea filed by the Resolution Professional of Byju's (Think and Learn Private Limited).   A coram of Judicial Member Sunil Kumar and...

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Moneylife Digital Team 27 March 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs78.20 lakh on Punjab & Sind Bank and KLM Axiva Finvest Ltd, a non-banking financial company (NBFC), for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs68.20 lakh has been imposed on Punjab &...

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Moneylife Digital Team 27 March 2025
The Gurugram zonal office of the directorate of enforcement (ED) has provisionally attached assets worth Rs557.49 crore in connection with the Amtek Auto group’s Rs27,000 crore bank fraud case. The latest action follows an earlier attachment of Rs5,115.31 crore, confirmed by the PMLA...

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Moneylife Digital Team 27 March 2025
The Gurugram zonal office of the directorate of enforcement (ED) has provisionally attached assets worth Rs557.49 crore in connection with the Amtek Auto group’s Rs27,000 crore bank fraud case. The latest action follows an earlier attachment of Rs5,115.31 crore, confirmed by the PMLA...

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Moneylife Digital Team 27 March 2025
The Union ministry of finance (MoF) has clarified that income-tax (I-T) officials will not have direct access to personal emails, social media accounts and bank details of taxpayers. However, in cases of search and seizure operations, authorised officers may gain access to electronic records if...

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Moneylife Digital Team 26 March 2025
The Reserve Bank of India (RBI) has imposed a penalty of Rs75 lakh on HDFC Bank Ltd for non-compliance with directions issued by RBI on know-your-customer (KYC).    In a release, RBI says HDFC Bank did not categorise some customers into low, medium or high-risk categories based on its...

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Praisy Thomas (Bar  and   Bench) 26 March 2025
The Kerala High Court on Wednesday questioned the Central government on whether it intends to consider writing off loans for the victims of the 2024 landslides in Wayanad (In Re: Prevention and Management of Natural Disasters in Kerala).   A Division Bench of Justice AK Jayasankaran Nambiar...

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Moneylife Digital Team 26 March 2025
The Delhi zonal office of the directorate of enforcement (ED) conducted search operations at three premises in Gurgaon under the Prevention of Money Laundering Act (PMLA), 2002. The premises searched on 23 March 2025 belonged to Barinder Kaur, daugher of PACL founder  late Nirmal Singh Bhangoo...

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Moneylife Digital Team 26 March 2025
The Delhi zonal office of the directorate of enforcement (ED) conducted search operations at three premises in Gurgaon under the Prevention of Money Laundering Act (PMLA), 2002. The premises searched on 23 March 2025 belonged to Barinder Kaur, daugher of PACL founder  late Nirmal Singh Bhangoo...

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Moneylife Digital Team 25 March 2025
In a significant ruling, the Mumbai bench of the income tax appellate tribunal (ITAT) provided relief to Anil Dattaram Pitale concerning the taxability of a new, bigger-sized flat received in a redevelopment project. The tribunal set aside the addition made under section 56(2)(x) of the...

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Moneylife Digital Team 25 March 2025
In a significant revelation, the Indian government has reported that the competition commission of India (CCI) investigated 35 cases of cartelisation across various sectors over the past five years. The data, presented in the Lok Sabha as part of a written response by Nirmala Sitharaman, Union...

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Moneylife Digital Team 25 March 2025
The Reserve Bank of India (RBI) has unveiled the master directions on priority sector lending (PSL) – targets and classification, 2025, which will come into effect from 1 April 2025. The updated framework replaces the previous 2020 guidelines and aims to streamline credit allocation, ensuring...

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Moneylife Digital Team 25 March 2025
The Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Unitara Finance Ltd, a decision made under Section 45-IA (6) of the Reserve Bank of India Act, 1934. This order was issued on 24 March 2025.   Unitara Finance had been operating as a non-banking financial...

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Moneylife Digital Team 24 March 2025
India's private capital expenditure (capex) in the gross fixed capital formation (GFCF) has reached a decadal low of 33% in FY23-24, according to a recent analysis by ICRA. This marks a significant decline in private capex share over the years, driven primarily by the sluggish investment...

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Sofi Ahsan (Bar  and   Bench) 24 March 2025
The Supreme Court Collegium on Monday has decided to repatriate Delhi High Court judge Justice Yashwant Varma back to his parent Allahabad High Court. Interestingly, the decision was taken by the Collegium after holding two meetings - one on March 20 and another on March 24. "The Supreme Court...

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Moneylife Digital Team 24 March 2025
The Mumbai traffic police have recorded a staggering 65.12 lakh or 6.52mn (million) traffic violations over the past 13 months, resulting in fines amounting to Rs526 crore. Despite stringent measures, only Rs157 crore has been collected so far, leaving massive fines worth Rs369 crore still...

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Moneylife Digital Team 24 March 2025
Reserve Bank of India (RBI) has imposed penalties of Rs72.58 lakh on Citibank NA  and IDBI Bank Ltd for non-compliance with the directions issued by the banking regulator. Citibank has been slapped with a fine of Rs36.28 lakh, while IDBI Bank has been penalised Rs36.30 lakh.     Citibank has...

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India is on the rise as a global tourism powerhouse. A McKinsey report says that outbound Indian tourism is already a ‘vital source market for global tourism’ and is expected to double by 2030. Recognising this, many countries have eased visa restrictions and introduced direct flights and...

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Moneylife Digital Team 21 March 2025
In a startling revelation, the Union government disclosed that scheduled commercial banks (SCBs) in the country have written off bad loans (non-performing assets—NPAs) worth a staggering Rs16.35 lakh crore worth of over the past decade. This information was presented in the Lok Sabha by finance...

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