The show-cause notice dated February 8 by DCGI V G Somani cited a Delhi high court order dated December 12, 2018, which prohibits online sales of medicines without a licence.
India has imposed several restrictions on imports of gold, the biggest non-essential import item, to curb a record trade deficit.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
In the ancient world there is a great deal of give and take and reciprocal learning. India was an integral and important constituent of such interchanges of goods and ideas.
India's decision to ban the export of non-basmati white rice has pushed up global prices, prompting multilateral lending agencies, such as the International Monetary Fund (IMF), to call for a reconsideration of the move. Though nothing has been spelled out yet officially, sources said, the government might consider requests for government-to-government sale of non-basmati white rice, especially to West African nations where India is a major supplier. Also, traders and exporters of specialty regional rice varieties like sona masuri or gobindo bhog feel that they have been short-changed.
The enduring legacy of trade routes lies in shared stories and religious diversity. Can the India-Middle East-Europe Economic corridor harness this legacy to empower nations, asks Arundhuti Dasgupta.
'Liquid ETFs help in cash management by enabling a smooth transition between equity and cash within the same settlement cycle, as they trade in the same segment as equity.'
Equity benchmark indices Sensex and Nifty hit their fresh record levels on Thursday after lower inflation numbers raised hopes of an interest rate cut by the RBI. Besides, heavy buying in capital goods, consumer durable and industrial stocks also helped the indices, traders said. Retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank's comfort zone of below 6 per cent, according to government data released on Wednesday.
The civic body plans to build a national memorial dedicated to the social reformer couple at the site, officials said. However, local people and traders had refused to vacate the place and moved court.
From the markets' perspective, a greater predictability of the RBI's intervention will give them a space to operate in.
Vegetable traders further pointed out with Pakistan remaining rigid on not lifting ban despite requests made by Pakistani traders, all the orders for the import of onion now stand cancelled.
Jeera July futures in NCDEX touched a record high of Rs. 58,085 per quintal on Monday, before coming down to around Rs. 55,500 on Tuesday. This was due to profit booking and extension of additional surveillance margin of 2.5 per cent till July 18, including on all contracts to be launched in the future. The softening, according to some reports, is also because of fears of regulatory action on jeera traders over allegations of excessive speculation.
'It is a fiercely fought battle, like our fiery chillies in Guntur.'
External Affairs Minister S M Krishna on Wednesday assured two Indian traders, trapped in a financial dispute with local businessmen in the commodity hub of Yiwu, that he would take up their case with his Chinese counterpart on Thursday.
The Sino-India border trade began on Tuesday. The transaction on the first day was not very significant. It consisted of exports of a few quintals of rice and biscuits valued at Rs 10,000.
Few in Varanasi expect the result to be different from 2014 and 2019. The only point of interest is whether Narendra Modi will increase his winning margin against his rivals.
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
Maharashtra minister Dada Bhuse said the decision to impose export duty should have been taken with proper coordination.
A Ganesh Nadar speaks to onion farmers in Nashik, India's largest wholesale onion market, about the high prices.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
The total number of unique investors directly investing in the stock market has surged to 80 million for the first time, with the latest 10 million additions taking place in just eight months, according to data shared by the National Stock Exchange (NSE), the country's largest bourse. "The 80 million unique PAN (permanent account number) investors correspond approximately to around 50 million unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via NSE's extensive nationwide network of trading members," said the exchange. In 2021, the number of domestic households were pegged at 300 million.
The rupee fell on Monday on fears of foreign outflows after stronger-than-expected US jobs growth data cemented expectations of an early end to US stimulus measures.
Daily life was partially affected in West Bengal on Wednesday due to a 12-hour shutdown called by the Bharatiya Janata Party, protesting the police action against demonstrators during a march to the state secretariat.
Congress spokesperson Pawan Khera called the order "state-sponsored bigotry".
From the Sensex basket, Larsen & Toubro, Maruti, Reliance Industries, Nestle, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank and JSW Steel were among the major laggards. Bajaj Finance climbed nearly 1 per cent higher.
Two Indian traders, who were held-up in China for several months over allegations of non-payment of dues to Chinese businessmen, have been sent back to India after intense diplomatic efforts.
Milk supplies could improve with the monsoon, provided the rains are not excessive.
WhatsApp on Wednesday announced the expansion of its payments service in India to make it easier for people transacting with businesses to pay for purchases directly in the chat, with a choice of UPI apps, including rival digital payment options, as well as credit and debit cards. Meta founder and CEO Mark Zuckerberg asserted that India is leading the world in people and businesses embracing messaging. WhatsApp said it is working with partners Razorpay and PayU "to make paying for something as simple as sending a message", as the Meta-owned platform unveiled a host of new features to woo businesses in India's booming commerce market.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
Traders' body CAIT on Wednesday accused e-commerce major Amazon of indulging in serious contraventions of FDI policy and Foreign Exchange Management Act. The body also blamed the online firm for not seeking the government's approval for conducting multi-brand retail activities in India.
This has steered a rally in global equities and dollar Index also ticked higher, trading near its four year high.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
To restrict onion exports and help cut prices in the domestic market, the government had gradually raised the MEP to $1,150 a tonne from $650 a tonne a few months earlier.
'During times of adversity, a brick becomes better than a stone. That is how I look at the election season.'
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. The recent trend of moderate depreciation in the rupee's nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda.
The government expects onion prices to fall below Rs 40 per kilogram by January from the current average price of Rs 57.02 per kilogram, Consumer Affairs secretary Rohit Kumar Singh said on Monday. Last week, the government banned onion exports till March next year after the retail sales price of the kitchen staple crossed Rs 80 per kg in the national capital and the prices in mandis remained around Rs 60 per kg. To a query on when the onion prices are expected to fall below Rs 40 per kg, Singh said, "very soon... January"
The National Company Law Appellate Tribunal (NCLAT) has reserved its order on Amazon's plea challenging the decision of regulator CCI to suspend approval for the e-commerce major's deal with Future Coupons. In December last year, Competition Commission of India (CCI) suspended the approval given by it in 2019 for Amazon's deal to acquire a 49 per cent stake in Future Coupons Pvt Ltd (FCPL). The regulator had said that Amazon suppressed information while seeking clearances for the transaction back then and also slapped a fine of Rs 202 crore on the company.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
According to data released by the Sikkim commerce and industries department in Gangtok, utensils including copper bowls fetched a revenue of Rs 900,000 for Indian traders during four months of trade at the Renquinggang mart. Other products like black tea, textiles, woollen shawls, canned food, vegetable oils and cigarettes were in demand from importers.
Moreover, the process to release those arrested between July 1 to August has started, and many have already been released, it added.
