ECONOMY & NATION


Debashis Basu  and   Vijay NS 14 June 2024
There have been a lot of allegations about who made money on the stock market with specific knowledge about the election results. While a variety of allegations have been flung around, a look at both sale and purchase data tells an intriguing story, with different conclusions. There are clear...

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It is too early to judge, but the salutary impact of the people’s election verdict is perhaps evident from the fact that we have moved from Modi Sarkar 3 or Modi 3.0 to NDA 3.0, despite a pliant media’s slow recognition of this change.    Prime minister (PM) Narendra Modi, after being...

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Chandramouli Mohan 14 June 2024
When you read this news, RBI Slaps Rs11.50 Lakh Penalty on 3 Cooperative Banks from Uttar Pradesh, you think the regulator penalises the banks that are non-compliant in transferring the unclaimed deposits to the depositor education and protection fund (DEAF) within the prescribed period.   It...

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Moneylife Digital Team 14 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.45 crore on Central Bank of India for sanctioning a working capital demand loan to a corporation against receivable from government subsidies and failing to credit money to customer accounts in the unauthorised electronic...

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Moneylife Digital Team 14 June 2024
Highlighting the lackadaisical attitude displayed by the banking ombudsman and Bank of Baroda (BoB) while handling a cyber fraud case of the bank customer, the Bombay High Court (HC) directed BoB to refund Rs76.9 lakh fraudulently debited from the customer's account with an interest of 6%pa...

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Even while the coalition partners are slated to take office in the next few hours to form the new team at the Centre, it is interesting to note that the captains of the industry have, in a poll held by the Business Standard, emphasised the urgency to address the issue of unemployment in the...

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Even while the coalition partners are slated to take office in the next few hours to form the new team at the Centre, it is interesting to note that the captains of the industry have, in a poll held by the Business Standard, emphasised the urgency to address the issue of unemployment in the...

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Moneylife Digital Team 14 June 2024
The Bombay High Court is set to deliberate on a pivotal Public Interest Litigation (PIL) filed by Shobha Panchmukh, a distinguished child rights activist, aimed at catalysing comprehensive suicide prevention measures within educational institutions across Maharashtra. The PIL, slated to be...

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Moneylife Digital Team 14 June 2024
The first session of the 18th Lok Sabha will begin on 24 June 2024, during which newly elected members will take oath and the speaker will be elected, says Kiren Rijiju, Union minister of parliamentary affairs. Union finance minister Nirmala Sitharaman is expected to present the full Budget for...

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Moneylife Digital Team 14 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.25 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2 lakh has been imposed on Nandani Sahakari Bank Ltd from Maharashtra.   Other banks penalised by RBI are...

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Moneylife Digital Team 14 June 2024
The Chandigarh bench of the national company law tribunal (NCLT) has given the green light for the merger of Air India and Vistara, paving the way for forming India's most prominent international and second largest domestic carrier.   Last week, the two-member bench of NCLT noted that the...

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I was told that at a ‘meet the press’ session, Dr Verghese Kurien, founder of the milk revolution in India – was asked a delicate question by one of the journalists. “What would you say are the three key elements that have made you so successful, Mr Kurien?” After a short pause, he replied,...

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Moneylife Digital Team 14 June 2024
The Reserve Bank of India (RBI) has restored functionality to its automated sweep-in and sweep-out (ASISO) system following a technical disruption.   The glitch, which occurred on RBI's ASISO facility within the e-Kuber platform, temporarily hindered Bank’s access on Wednesday. This platform...

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Moneylife Digital Team 14 June 2024
Securities and Exchange Board of India (SEBI) has debarred background check company SecUR Credentials and its managing director (MD) Rahul Belwalkar from the securities market, for imposing significant restrictions due to alleged financial irregularities and corporate governance lapses. This...

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Moneylife Digital Team 14 June 2024
Ambuja Cements Ltd from the Gautam Adani-led Adani group will acquire Hyderabad-based Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs10,422 crore. The deal will add 14MTPA (million tonnes per annum) capacity to the country's second largest cement manufacturer.   Ambuja...

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Moneylife Digital Team 13 June 2024
The Bombay High Court (HC), while observing that the Maharashtra government's slum policy, through which private and public lands get converted into free tenement for encroachers once it is recognised as a slum rehabilitation area, is encouraging encroachment and thus turning an international...

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Moneylife Digital Team 13 June 2024
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs7 lakh on Majestic Auto Ltd for the company's failure to obtain approval from the audit committee and shareholders for related party transactions (RPTs) during FY18-19.   In an order last week, Amar Navlani, adjudicating...

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Moneylife Digital Team 12 June 2024
The financial intelligence unit-India (FIU-IND) has slapped a penalty of over Rs1.66 crore on Axis Bank for 'failing' to detect a fraud account in the name of the National Security Guard (NSG), the country's counter-terrorist commando force. According to FIU-IND, the lender failed to establish...

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Moneylife Digital Team 12 June 2024
The financial intelligence unit-India (FIU-IND) has slapped a penalty of over Rs1.66 crore on Axis Bank for 'failing' to detect a fraud account in the name of the National Security Guard (NSG), the country's counter-terrorist commando force. According to FIU-IND, the lender failed to establish...

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Moneylife Digital Team 12 June 2024
Johnson & Johnson (J&J) has agreed to pay US$700mn (million) to settle an investigation by 42 US states and Washington DC into its marketing of baby powder and other talc-based products blamed for allegedly causing cancer, says a news report.   According to a report from Reuters, the...

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