Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday. These companies have also been directed by the govt to refund the subsidies availed by them. The audit by SMEV's chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
Stressing on the 'Make in India' initiative, a Ministry of Defence appointed committee has recommended enhanced private sector involvement by granting manufacturers tax and import concessions.
What all global leaders need to understand is that no Generative AI regulation will work unless they start with the basics, which is data collection, asserts Prosenjit Datta.
Maruti Suzuki India (MSIL) will issue equity shares on a preferential basis to parent Suzuki Motor Corporation (SMC) to acquire 100 per cent stake in the latter's Gujarat plant. This deal is expected to increase the share base of MSIL by about 4 per cent. And consequently, it will raise SMC's shareholding in Maruti by around 1.8 percentage point. "Whether it is in terms of PAT (profit after tax) or earnings per share (EPS) or dividend per share (DPS) of MSIL, the share-swap option will give shareholders a better deal than any other option such as cash payment," MSIL chairman RC Bhargava told reporters during a press conference.
The Centre on Thursday disputed in the Supreme Court the figure pertaining to alleged attacks on Christian institutions and priests, terming the data "wrong" and claiming the petitioners wanted to keep "the pot boiling" to sully the image of the country abroad.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Asserting that the world does not have much time to correct the mistakes of the last century, Prime Minister Narendra Modi on Friday announced a 'Green Credit Initiative' focused on creating carbon sinks through people's participation and also proposed to host the United Nations climate conference in 2028, or COP33, in India.
A plea that the banking regulator's stress should be on the strategic role of boards and an increase in the remuneration of independent directors were among the issues put forward to the Reserve Bank of India's (RBI's) top brass in its interaction with the full boards of state-run banks held on Monday. The meeting, the first leg of first-of-its-kind interactions with the boards of state-run banks, will now be followed by those of private banks in Mumbai on May 29. The RBI's press release, issued late on Monday, did not refer to the specific points that found mention in the deliberations, but top sources told Business Standard the twin concerns were taken up in the open-house interaction with the banking regulator's brass.
Scandal is a result of callous administrative approach.
If successful, this would increase capacity to hurl small satellites into space, meeting both local demand and serving global customers.
The NHRC said it has taken suo motu cognisance of the issues related to the cremation and undignified treatment of dead bodies as raised by Jitendra Singh Shunty, a member of its Core Group of Human Rights Defenders.
A lesson we have not learnt from China is the urgent need to knit the vast country together to keep it from falling apart at the seams. While there is considerable dent in poverty, sadly, the North East remains as distant today as it always was, points out Shreekant Sambrani.
Pravin Sawant now hopes his archery training academy, built on one-acre sugarcane farmland, will finally get due recognition, after producing India's two world champions Aditi Swami and Ojas Deotale.
The Bombay high court on Tuesday dismissed a public interest litigation seeking a disproportionate assets case against former Maharashtra chief minister Uddhav Thackeray and his family, observing that it sought a "roving enquiry".
Prime Minister Narendra Modi on Friday said both public and private sectors need to leverage synergies and think out of the box to seize opportunities arising as a result of the emerging global environment. While interacting with noted economists and experts at NITI Aayog ahead of the Union Budget, the prime minister also applauded the success of the India Digital story and the rapid adoption of fintech across the country, an official statement said. During the meeting, economists offered suggestions on ways in which India can sustain its development momentum, it added.
'The stockbroker should have a good balance sheet to support its scale of operations. It should also have proper risk management in terms of margins so that it doesn't go bankrupt during extreme market movements.' 'The broker must have a track record of navigating several market cycles in an ethical and transparent manner.'
In 1666, Shivaji Maharaj and his son Sambhaji escaped from the Agra Fort, one of the most miraculous escapes in India's history.
The Competition Commission of India on Tuesday approved with certain conditions the mega-merger deal between media groups Sony and Zee. In a tweet, the watchdog said it has cleared the deal with certain modifications. The proposed merger was announced in September last year. CCI said it has approved the "amalgamation of Zee Entertainment Enterprises Limited (ZEE) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME), with certain modifications".
In an advisory to all private satellite channels, the Ministry of Information and Broadcasting cited the coverage of the cricketer's car crash, airing of distressing images of dead bodies and thrashing of a five-year-old boy and said such reporting offended "good taste and decency".
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
Maharashtra deputy Chief Minister Devendra Fadnavis, who also holds the energy portfolio, held a meeting with trade union representatives and later said the government had no intention to privatise state-run power utilities.
Ravi Batra, a New York-based attorney with a private practice experience, is the only Indian American to be appointed to the powerful 14-member Joint Commission on Public Ethics. To be headed by Attorney Janet DiFiore, the commission will oversee both the executive and legislative branches, as well as lobbyists.
Private companies have been increasing their dividend payouts at a much higher pace than their public-sector counterparts, though some state-run companies are making huge payouts in absolute terms.
The Delhi high court on Wednesday agreed with the contention of Akasa Air that the DGCA is not completely barred from taking action against pilots who violate the terms of their employment agreements. However, the court did not grant any immediate relief to Akasa Air which sought direction to the DGCA and Union Ministry of Civil Aviation to take action against its pilots who have resigned without serving the notice period, saying it will first decide the issue of jurisdiction raised by the aviation sector regulator. Justice Manmeet Pritam Singh Arora said since the Directorate General of Aviation (DGCA) has contended it has no jurisdiction to consider a representation made by the airline against the defaulting pilots under the extant law as it was a contractual dispute, the court will have to first decide the issue of jurisdiction before passing any other direction.
Within six months, outlets carrying Vicks jumped from 60,000 pharmacies to 750,000 general stores. The trade boycott collapsed. Consumers were happy, finding Vicks now at every street corner. A fascinating excerpt from Gurcharan Das's Another Sort of Freedom.
Released by secretary of state Antony Blinken, the annual human rights reports of the state department is a mandatory requirement of the US Congress giving details of human rights status in countries across the world.
The United States Senate took the historic decision by 53-47 votes after three Republican Senators Susan Collins, Lisa Murkowski and Mitt Romney voted in her favour along with 50 members of the ruling Democratic Party.
India accounted for 2.2 per cent of the revenues of Infosys.
Defence public sector undertakings (PSUs) have been asked by the Centre to hold roadshows in Dubai and Abu Dhabi to share their financials and business plans to reel in investors. Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), Garden Reach Shipbuilders & Engineers (GRSE), and Mishra Dhatu Nigam (MIDHANI) have informed stock exchanges that they will conduct investor outreach programmes and participate in 'non-deal' roadshows and meetings with prospective investors from September 12-15. They will share their short- and medium-term growth plans, financial metrics, improvement in their stock performance/ market capitalisation - and make a pitch of sorts to prospective investors.
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a short-seller report published in late January, and on the findings of a recently launched Supreme Court investigation. S&P Global published an FAQ-style commentary titled, "Adani Group: The Known Unknowns".
Tatas-owned Air India plans to acquire no-frills carrier AirAsia India and has sought approval from the Competition Commission for the proposed deal. AirAsia India is majority-owned by Tata Sons Private Ltd with a shareholding of 83.67 per cent and the remaining stake is with AirAsia Investment Ltd (AAIL), which is part of Malaysia's AirAsia Group. Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Private Limited, a wholly-owned subsidiary of Tata Sons Private Ltd, last year. Besides, Tatas operate full service airline Vistara in a joint venture with Singapore Airlines.
Modi's BJP has promised more revdis or freebies for these assembly elections than ever before, points out N Sathiya Moorthy.
Need to classify clinics as industries.
According to a senior police official, Amritpal and his aide Papalpreet Singh had allegedly stayed at the residence of Balbir Kaur in Patiala's Hargobind Nagar on March 19.
'Water is not an economic resource, but we treat water as an economic resource meant for the benefit of human beings.' 'Water is more of a life source than an economic resource.'
'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
The strike called by the medical college teachers association in Kerala has crippled the functioning of the government medical colleges, with patients not receiving any kind of treatment, even in the outpatient department of the hospitals.In Thiruvananthapuram, a leading cardiologist who is a professor of the Government Medical College in the city has started private practice at his home, as the strike gives him ample time for private consultations throughout the day.
Tuition classes: Saviours or demons, asks Ajit Balakrishnan.
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