In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
The Biden administration has announced that it is delaying the H-1B policy of the previous Trump administration on allocation of the popular foreign work visas by continuing with the lottery system until December 31, 2021, to give the immigration agency more time to develop, test and implement the modifications to the registration system. On January 7, the US Citizenship and Immigration Services (USCIS) announced to do away with the traditional lottery system in deciding the successful applicants for the H-1B visas. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise.
The proscribed organisations will be examined under heightened security checks at all layers of legal, administrative, investigative and financial regimes, the Dawn newspaper reported.
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
After five years, we are still waiting for permission to sell our four-wheeler in the country: Rahul Bajaj.
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
The case relates to alleged violation of norms by directors of the aviation company for relaxation of 5/20 rules to get licenses for international operations
The phase 3 trial is being implemented as part of Operation Warp Speed, a multi-agency collaboration led by the US Health and Human Services, which aims at accelerating the development and manufacturing of medical countermeasures for COVID-19 and delivering 300 million doses of an effective vaccine by January 2021.
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Stating that there are strong inter-linkages between banks, NBFCs and other deposit-taking entities, he said for monetary policy to be effective and financial markets to remain stable, they should be regulated by the central bank.
Scams happen with high regularity because the price of getting caught is insignificant. Aggrieved investors run from the police to already clogged courts to find redress for issues for which financial regulators have been specifically set up. For over 3,750 years we have known what to do, but we don't do it, observes Debashis Basu.
She will replace US Supreme Court Judge Justice Brett Kavanaugh who was nominated by President Donald Trump for the top post.
The investigative agency plans to file a second chargesheet, naming more perpetrators in the Saradha scam.
100-day agenda: Commerce ministry pushes for separate logistics department
Recent data on the Food Safety and Standards Authority of India show its commendable performance. But there is an urgent need to address certain issues related to the way it functions and its infrastructure, says A K Bhattacharya.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
The finance ministry has put out a revised draft in public domain.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
India's corporate sector sees big ticket deals in 2013.
India will require new technical solutions and approaches to solve environmental problems.
Digital lending apps extend small amounts at exorbitant rates. Payment delays invite messages to customer or close family members, often with sensitive information such as Aadhaar and PAN Card scans.
By refusing permission for the proposed ship-breaking facility, India can send a categorical message to the foreign ship owning countries that they should keep their own waste and recycle
Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism, nepotism or conflict of interest on her part in granting loans to Videocon Industries or any other company. However, the stance changed soon after the regulatory and probe agencies initiated enquiry in the matter.
Poonawalla said the price will be around USD 5-6 per dose with an MRP of around Rs 1,000 for the two necessary doses.
She will replace controversial Brett Kavanaugh who endured a bitter confirmation battle last year after President Donald Trump named him to the US Supreme Court.
The task force has provided probe agencies with a list of attributes, including disproportionate investments, debt, advances or cash, to red-flag such firms.
Ever since the deal was announced of Walmart spending over $16 bn for a 77 per cent stake in Flipkart, the road to the takeover of India's biggest online marketplace has been quite bumpy
The Finance Ministry said that complaints against seven of them are being examined by Sebi, while the markets regulator has prima facie found two other firms to be running Collective Investment Scheme (CIS) and suitable actions are being taken against them.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
Do away with the grey, and let us have it in black and white. That's the message the Advertising Standards Council of India (ASCI) has for digital media influencers. ASCI has brought out draft guidelines for "influencer advertising on digital media", an expanding and so far unmonitored landscape where the lines between personal and promotional content is often blurred. The self-regulatory body wants social media influencers to disclose upfront - through labels or in the case of audio media, by way of an announcement at the beginning and the end of the audio - that the content is promotional and paid for.
The nominees are Congresswoman Deb Haaland as Secretary of Interior, Jennifer Granholm as Energy Secretary, Michael Regan as administrator for Environmental Protection Agency and Brenda Mallory as Chair of the Council of the Council on Environmental Quality.
Rating agency Fitch Ratings today said there is more pain in store for India's infrastructure projects, which are already reeling under delays and regulatory hurdles, due to sector specific stresses and macroeconomic challenges.
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
Compliance costs and legal scrutiny could rise.
Most rating agencies had projected contraction in India's GDP for the first quarter of 2020-21.
Reliance Capital has two credit verticals -- Reliance Commercial Finance and Reliance Home Finance -- with a cumulative asset of over Rs 25,000 crore.
MEA Spokesperson Anurag Srivastava also slammed Pakistan's flip-flop on the presence of Dawood Ibrahim in the country, saying it 'lays bare the insincerity' of Islamabad in responding to legitimate expectations of the world that it will track down international terrorists operating from its soil.
In September, Bharat Biotech aimed to supply 35 million doses, and take this up to 55 million by October. This is still less than what the Indian government expects from the company.
Interim pension regulator Pension Fund Regulatory and Development Authority has appointed National Securities Depositories Ltd as an agency to track the pension records of those under the new pension scheme.
The government is set to participate in the business of television ratings that is primarily meant to guide the broadcasters, the media agencies and the advertisers, to determine their programme scheduling, advertising spends and the placement of the advertisements.
