ECONOMY & NATION


Moneylife Digital Team 23 August 2022
Adani group companies, Adani Enterprises Ltd, its media unit AMG Media Networks Ltd and indirect subsidiary Vishvapradhan Commercial Pvt Ltd (VCPL), have made an open offer to buy up to 26% stake in Dr Prannoy Roy-led New Delhi Television Ltd (NDTV) at Rs294 per share cash. VCPL hold...

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With the steep hike in yarn prices continuing, garment industries in Tiruppur are in crisis.   Several units are not functioning for the past several months with most of them getting outsourced orders from major garment exporters.   Exporters of Tiruppur, which is considered...

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The Supreme Court (SC) on Tuesday agreed to examine a plea challenging the remission granted to the 11 who were convicted for the rape and murder in the 2002 Bilkis Bano case.   The plea was mentioned by advocate Aparna Bhat and senior advocate Kapil Sibal before a bench headed by...

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The election commission (EC) on Monday said that entry in the electoral roll should not be deleted over non-submission of Aadhaar.   The Commission reacted following some media reports surrounding the issue. "With reference to stories reported in the media, it may be noted that...

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The Supreme Court on Monday agreed to list a plea seeking review of its judgement upholding the enforcement directorate's (ED's) powers in connection with attachment of property involved in money laundering, arrest, search and seizure under the Prevention of Money Laundering...

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The Union finance ministry has clarified that no service charge would be levied on UPI (unified payments interface) transactions.   "UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any...

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The additional tier-1 (AT-1) bond issuances are likely to fall sequentially to around Rs200 billion in FY22-23, from an all-time high of nearly Rs428 billion in FY21-22.   The issuances were higher in FY21-22 as most were driven by refinancing obligations of issue in...

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Power Finance Corporation Ltd raised Rs3,000 crore through bonds maturing in 47 months at a coupon rate of 7.13%, market participants have said.   The company had planned to raise Rs3,000 crore, which included Rs2,500 crore in greenshoe.   The bidding for the bonds has taken...

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Representatives of Big Tech, like Amazon, Google, Netflix and Microsoft, among others, have been summoned by the parliamentary standing committee of finance on Tuesday to depose on the subject of anti-competitive practices by tech entities.   According to official sources, the panel,...

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Moneylife Digital Team 19 August 2022
While finding out weak monitoring mechanism in the income-tax (I-T) department for the gems and jewellery sector, the comptroller and auditor general of India (CAG) noticed 230 instances of non-compliance to the provisions of the I-T Act involving potential tax effect Rs38,449.59...

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Moneylife Digital Team 19 August 2022
The central board of indirect taxes and customs (CBIC) has told field officers to be judicious while exercising their power of issuing summons to senior officials of companies such as chief executive officers (CEOs), chairman and managing directors (CMDs) and chief financial officers (CFOs),...

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Moneylife Digital Team 19 August 2022
The Reserve Bank of India (RBI), in a discussion paper on charges in the payments system, has flagged capping credit card fees as one of the issues to be considered. According to the report, the same limit the RBI applies on debit card fees could be made applicable to credit cards, and banks...

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Moneylife Digital Team 19 August 2022
The Reserve Bank of India (RBI) on Thursday said the licence of Deccan Urban Cooperative Bank, Karnataka, has been cancelled as the lender does not have adequate capital and earning prospects. As per the data submitted by the bank, more than 99% of the depositors are entitled to receive the...

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India Inc saw steepest decline in deal values owing to the lack of big-ticket investments last month, registering 171 mergers and acquisitions (M&A) and private equity (PE) deals valued at $2 billion, a new report has shown.   At $280 million for 32 deals in July, the M&A deals...

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Vinita Deshmukh Vinita Deshmukh 18 August 2022
Last week, the office of the comptroller and auditor general of India (CAG) tabled in Parliament, the audit report on the preservation and conservation of monuments, which exposes the archaeological survey of India (ASI), known to deny information under the Right to Information (RTI) Act and...

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Most banks are increasing their deposit rates for boosting deposits to support rising credit offtake as liquidity in the banking system has narrowed.   The hike in deposit rates is in line with the Reserve Bank of India's (RBI) 50bps (basis points) hike in repo rate in the August...

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The Supreme Court was told on Thursday that the central board for direct taxes (CBDT) has accused makers of Dolo-650 tablet of distributing freebies around Rs1,000 crore to doctors as consideration for prescribing the tablet.   Senior advocate Sanjay Parikh, representing Federation of...

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The number of domestic air passengers dipped to 9.70mn (million) in July compared to 10.5mn June, the directorate general of civil aviation (DGCA) said in its latest air traffic data.   According to DGCA data, the number of passengers carried by domestic airlines during the...

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Moneylife Digital Team 16 August 2022
With the closure of the fifth generation (5G) telecom auctions, India has joined a select list of 70 countries with 5G technology offerings. However, 5G rollout faces a host of challenges—among others, a lack of use cases, costly handsets, and potential rollout at a premium that will limit 5G...

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The initial public offer (IPO)-bound ed-tech major BYJU's, which has filed its tax returns for FY20-21, is set to make public the audited financial statement for FY20-21 from global consulting firm Deloitte very soon, top sources privy to the development said on Monday.   The audited...

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