ECONOMY & NATION


Moneylife Digital Team 04 December 2024
The Lok Sabha on Tuesday passed the Banking Laws (Amendment) Bill, 2024 which allows bank account holders to have up to four nominees or successive nominations in their accounts. Moneylife Foundation has been demanding successive nominations for bank accounts similar to those available for...

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Moneylife Digital Team 04 December 2024
The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an ongoing investigation of a transnational cyber-enabled fraud case involving large-scale financial scams.   During the searches, incriminating...

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Anadi Tewari (Bar  and   Bench) 04 December 2024
The Supreme Court has imposed costs of Rs50,000 on the Central government for challenging the grant of Liberalized Family Pension to the widow of an Army soldier who had died in harness in 2013 due to cardiac arrest during an operational activity close to the Line of Control (LoC) in Jammu and...

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Moneylife Digital Team 04 December 2024
A person allegedly associated with the radical Sikh outfit Dal Khalsa opened fire at Shiromani Akali Dal (SAD) president Sukhbir Singh Badal at the entrance of the Golden Temple in Amritsar while the former deputy chief minister (CM) was on a 'punishment' guard duty. The assailant was...

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Moneylife Digital Team 04 December 2024
The Central Board of Indirect Taxes and Customs (CBIC) has rejected media reports regarding the group of ministers (GoM) recommendations on goods and services tax (GST) rate changes on various goods and services saying that such reports are premature and speculative. CBIC says that GST council...

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Moneylife Digital Team 03 December 2024
Expressing concern over the rising sums of money lying in inoperative or frozen bank accounts, the Reserve Bank of India (RBI) says its supervisory inspections have revealed a slew of problems due to which accounts are becoming inoperative or frozen. The central bank has asked banks to...

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SN Thyagarajan (Bar  and   Bench) 03 December 2024
India’s largest airline IndiGo has filed a suit before the Delhi High Court for infringement of trademark against Mahindra Electric Automobile Limited for using ‘6E’ in its new car called Mahindra BE 6E, which is expected to be released in February 2025 (Interglobe Aviation Vs Mahindra Electric...

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Moneylife Digital Team 03 December 2024
After clocking about 14% last fiscal year, revenue of the automotive components sector is expected to slow to 6%-8% this fiscal year and the next, due to the decelerating demand for new vehicles, barring two-wheelers, according to a research note.   In the report, CRISIL Ratings says that...

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Moneylife Digital Team 03 December 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs5 lakh each on two cooperative banks for non-compliance with the directions issued by the banking regulator. The banks penalised are: Patiala Central Cooperative Bank Ltd from Punjab and Panchkula Central Cooperative Bank from...

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Moneylife Digital Team 03 December 2024
Reserve Bank of India (RBI) has revoked the certificate of registration (CoR) of Zavron Finance Pvt Ltd, a Nagpur-based non-banking financial institution (NBFI), citing serious violations of its guidelines on digital lending practices.     In its statement, RBI pointed out that Zavron Finance...

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Moneylife Digital Team 02 December 2024
For committing certain fraudulent acts involving 4B Networks Pvt Ltd funds, the Bandra police have registered a first information report (FIR) against 4B Networks' Rahul Yadav, Devesh Singh, Pratik Choudhary, Sanjay Saini and others. Allcheckdeals India Pvt Ltd (AIPL), a unit of Info Edge Ltd,...

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Sahyaja MS (Bar  and   Bench) 02 December 2024
Last week, the Bombay High Court imposed a Rs5 lakh cost on a litigant for filing a frivolous writ petition that wasted over two and a half hours of the court's time (GB Industries Reg. Partnership v Minakshi Balasao Magdum and Ors).   The Bench, comprising Justices GS Kulkarni and Advait M...

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Amid the uproar surrounding the indictments and arrest warrants in the sprawling Adani bribery scandal, the glaring silence of a central player—Solar Energy Corporation of India (SECI)—stands out.   The policies of SECI, a Central public sector undertaking (PSU) are at the heart of the...

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A sullen central excise inspector was/ is more disruptive to a business than a power outage or transporters' strike!   Reference to a central excise inspector is merely symbolic and annotative. The expression shall encompass similar government functionaries who have power over a business and...

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Moneylife Digital Team 29 November 2024
Almost 28% of the grains supplied by the Food Corporation of India (FCI) and state governments never reach the intended beneficiaries, which amounts to a financial loss of about Rs69,108 crore, equivalent to roughly 20mn (million) metric tonnes (MMT) of rice and wheat. North-eastern states...

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Moneylife Digital Team 29 November 2024
Reserve Bank of India (RBI) has imposed penalties of Rs8 lakh on a non-banking financial company (NBFC) and three cooperative banks for failing to comply with the directions issued by the banking regulator. The highest penalty of Rs4.50 lakh was levied against Maxvalue Credits and Investments...

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Continuing what we said in a previous article on the subject, once we know the market segment for the non-profit organisation (NPO), in terms of social class, income groups, geography, sex, age and education, we can more effectively direct our promotion, advertising and personal selling to this...

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Abhimanyu Hazarika (Bar  and   Bench) 29 November 2024
The Central Bureau of Investigation (CBI) has named eight lawyers as accused in its first information report (FIR) lodged pursuant to the Supreme Court's directions in connection with a fake vakalatnama case. (Bhagwan Singh vs State of Uttar Pradesh and Another).   The FIR states that the...

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Moneylife Digital Team 29 November 2024
IPO Boom Continues  India's primary market is gearing up for an active December, with 10 companies aiming to collectively raise Rs20,000 crore. The offerings span sectors such as retail, financial services, healthcare and diagnostics, reflecting a diverse and vibrant market. Among the majors...

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Debayan Roy (Bar  and   Bench) 28 November 2024
The Supreme Court on Thursday ordered that Stage IV of the Graded Response Action Plan (GRAP), currently in force to tackle the severe air quality in Delhi, will continue to remain in operation till at least 2 December 2024 (In Re: Commission for Air Quality Management (Air Pollution) and...

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