The parliamentary standing committee on finance headed by Lok Sabha member and former minister of state for finance Jayant Sinha has noted in its report that banks are parking their stressed assets with asset reconstruction companies (ARC) to hide the actual extent of bad debts and cautioned...

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Market regulator Securities and Exchange Board of India (SEBI) wants to align interest of asset management companies (AMCs) and their employees with the unitholders of the mutual fund (MF) schemes. For this, part compensation to key employees would be given in the form of units of MF schemes...

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We had mentioned in Wednesday’s closing report that Nifty, Sensex were trending higher. On Thursday, the indices were a bit volatile but ended with minor gains. On the NSE, there were 609 advances, 1,408 declines and 0 unchanged.   The trend of the major indices on Thursday’s trading...

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After Cairn Energy embarrassed the government by secured an order from a French court to seize about 20 properties in Paris belonging to India, the Narendra Modi government has finally decided to amend the retrospective amendment introduced in 2012. The retrospective amendment of the law to...

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The Supreme Court on Thursday said allegations of the Pegasus-related snooping are serious, if the reports in the newspapers are correct, and sought the Centre's stand on petitions, including by the Editors Guild of India and senior journalist N. Ram, seeking a probe into the Israeli spyware...

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The government will resume blocking of E-way Bill (EWB) generation facility for all taxpayers who fail file their monthly or quarterly GST return for two successive periods.   E-way is a permit needed for inter-state and intra-state transportation of goods. If this is blocked, the...

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Market regulator Securities and Exchange Board of India (SEBI) has allowed mutual funds to maintain current accounts in an appropriate number of banks for receiving the subscription amounts and for payment of redemption to investors. Interestingly, banking regulator Reserve Bank of India...

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The Enforcement Directorate (ED) has issued notices to Flipkart, its founders and nine others in connection with foreign exchange violation case, officials said on Thursday.   A senior ED official related to probe told IANS, "Yes, a notice has been issued to Flipkart, its founders and...

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Automobile major Maruti Suzuki's production will be partially impacted in August due to semiconductor shortages.   On Wednesday, the auto major, in a regulatory filing to the BSE, said that the company has been informed by its contract manufacturer -- Suzuki Motor Gujarat -- that...

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 Covid-19-triggered local restrictions continued to subdue India's service sector production in July, but the rate of declined has slowed, the IHS Markit India Services PMI report said.   Business activity, new orders, and employment declined further, but in all cases, the rates of...

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The stock of Neuland Laboratories (Neuland) was trading around Rs1,950 on the National Stock Exchange (NSE) for nearly three hours before it nosedived to Rs1,864, a dip of 5% from the previous day’s close. The decline was on account of its poor performance for the June quarter. Revenue...

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Almost 10.6% of India’s population lives with a mental illness, shows data from the National Mental Health Survey (NMHS) in 2016. However, even today, it is difficult and costly to access health services and care for mental illnesses across the country. Although health insurance for mental...

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Over 42,000 COVID cases and 533 deaths in past 24 hours in India 05-08-2021 11:10 India on Thursday reported 42,982 fresh cases of Covid-19 in the last 24 hours. A total of 533 persons also succumbed to the corona infection in the same time span, said the bulletin released by the...

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The Rajya Sabha on Wednesday cleared the 'Limited Liability Partnership Amendment Bill' that aims to accelerate the 'Ease Of Doing Business' campaign of the government and brings regulations for this segment at par with other large companies.   The bill was earlier cleared by the Lok...

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Kumar Mangalam Birla has stepped down as the Non-Executive Director and Non-Executive Chairman of the Board of Vodafone Idea Ltd.   In a regulatory filing, the company said that the company has accepted the request of Birla to step down.   "The Board of Directors of Vodafone...

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The last I had visited the swanky Pune passport office at Mundhwa was way back in 2012-13, not to get or renew a passport, but to protest in front of it.  My ire was aimed then at the shabby and irresponsible working of the Tata Consultancy Services (TCS) which was in a...

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Paying heed to outrage on social media and requests by banks, the Reserve Bank of India (RBI) has extended the deadline to 31st October from 31 July 2021 for implementation of its guidelines for banks on current account opening.    In a notification, RBI says, “Banks will be permitted...

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We had mentioned in Tuesday’s closing report that Nifty, Sensex may continue to rise. On Wednesday, the indices opened higher and closed with decent gains. On the NSE, there were 609 advances, 1,408 declines and 0 unchanged.   The trend of the major indices on Wednesday’s trading are...

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Exxaro Tiles Ltd (ETL), which makes vitrified tiles, started as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in manufacturing of tiles. Over the years, it has transformed itself as a manufacturer of vitrified tiles. ETL’s product catalogue...

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While dismissing a special leave petition (SLP), the Supreme Court has upheld that the online fantasy sports format offered by Dream11 is game of skill. The SLP has alleged that the online fantasy sports (OFS) format offered by Dream11 amounted to gambling, wagering and betting and is not a...

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