Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
Implementation of BI tools can improve the bottom line by 10-15 per cent of insurance companies.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
India moving in right direction on GST, says Panagariya.
Maybe, the need for secrecy may have tied the government's hand from sharing details in Parliament. Still, it should consider the need of sharing the utmost within any consultative committee, so that relative secrecy is still maintained. But such a course should involve the prime minister or home minister, as it is much more serious than is being made out to be, argues N Sathiya Moorthy.
"Feel nostalgic when I see this picture. We had burnt government's 'jokepal' at that time," Kejriwal tweeted, attaching a picture of him holding a burning copy of the draft Lokpal back in 2011.
India's climate change goals are turning combustible. On the one hand, a protracted dispute between the government and manufacturers over subsidies threatens to slow the pace of electric vehicle (EV) sales. On the other hand, repeated assertions by different arms of the government over banning sales of new fossil fuel-fired vehicles have queered the pitch for energy investments. Before we address the issue of the recommended diesel vehicle ban in the recent report on energy transition, issued months before the next round of global climate talks begin in Dubai in November, let's look at what's at stake.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Accusing the Congress of creating obstacles in the path of growth and economy, he declared that the government would try to get the bill passed with the help of parties
The technical report of the NSSO has generated controversy following its observation that as much as 36 per cent units forming part of MCA-21 database, used in computing GDP, could not be either identifiable or traceable in the field.
The Delhi and Districts Cricket Association sacked its senior selection committee, comprising former National selector Gagan Khoda, Mayank Sidhana and Anil Bhardwaj, on Thursday after the state team was decimated by Saurashtra in a Ranji Trophy group league game.
Bhushan questioned the appointment and removal processes of the Lokpal laid out in the bill, which was recently cleared by the Aam Aadmi Party cabinet, saying they would put the ombudsman at the mercy of the city government.
With logjam in the Upper House leaving key bills in the limbo, Rajya Sabha chairman Hamid Ansari has called an all-party meeting on Friday.
The chief minister's decision came on a day when two top Bharatiya Janata Party leaders returned the gifts given to them by the Education Department amid indications that others may follow suit.
The chief minister claimed that MLAs have been getting calls after Governor Kalraj Mishra agreed Wednesday night to convene a session from August 14.
The meeting was called for discussing the points which were raised by Governor Kalraj Mishra on Monday.
'We are not organising any large celebrations on New Year's Eve to avoid last-minute changes in guidelines.'
The Securities and Exchange Board of India's (Sebi's) technical advisory committee has been mandated to probe the trading halt at National Stock Exchange (NSE) and fix accountability. The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know. The panel, which is currently chaired by Ashok Jhunjhunwala of IIT Madras, is learnt to have sought an explanation over two key issues from NSE: One on the effectiveness of interoperability as it was unable to migrate the trading positions; the other on laxity in switching it to the disaster recovery site.
"We want good ties with all neighbours including India and Afghanistan," he told the Senators.
Chetan Ghate, Pami Dua and Ravindra Dholakia have been appointed for 4 years
India's winning streak in elections to UN bodies demonstrates it is time for the country to become a permanent member of the Security Council and those who doubt this can no longer behave like "ostriches in sand", the Indian envoy to the world body has said.
Several parties had requested that the session, which was originally scheduled to continue till April 8, be curtailed due to the five assembly elections being held in eight phases till April 29.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
Oppn parties took on the government over reports that the J&K government was planning to release 800 more separatists.
The session, which will continue till August 11, is likely to discuss issues like lynching incidents and vigilantism, the Kashmir situation and the border stand-off with China.
Criticising the move, the opposition led by the Congress said that Question Hour is the 'golden hour of the House'. Leader of the Congress in Lok Sabha, Adhir Ranjan Chowdhury, said the argument and rationale that has been put forth by Parliamentary Affairs Minister Pralhad Joshi is far from convincing.
As indications emerge that Centre could withdraw the controversial ordinance on lawmakers, Bharatiya Janata Party and Congress on Wednesday engaged in a slugfest over the issue with the Opposition claiming victory and the ruling party accusing it of changing tunes.
The BJP member also sought to put the LVB-DBS merger on hold in order to facilitate a forensic audit of the takeover of the assets of both banks.
The activities of the two secretariats over the years have increased many folds which involve manpower planning, judicious and prudent financial management, transfer, postings of senior officials, meeting the grievances of the officials and staff, reveals Rup Narayan Das.
However, the Telangana statehood was not even on the agenda of the assembly which reconvened on Thursday morning.
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
In run-up to the session, while over 4,000 people including MPs and staff have been tested for COVID-19, most parliamentary operations have been digitalized, entire premises sanitised and doors made touch-free.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
Prime Minister Narendra Modi wants the event at the Madison Square Garden in NEw York to be representative of an emerging India
The DMK parliamentary party appears to be a house divided, reports R Rajagopalan.
'Indian-Americans for Trump 2016' -- which was registered as a political action committee on January 21 with the federal election commission -- aims at garnering support of Indian-Americans to have Donald J Trump become the next president of the United States.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Veteran Congress leader and former Lok Sabha Speaker Balram Jakhar passed away in New Delhi on Wednesday. He was 92.
Ajay Banga is one of the nine members of the Commission on Enhancing National Cyber Security.
The Jalan panel has recommended to the RBI to keep shady entities out of banking licence race.
