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.
'By resorting to divisive issues, the BJP is giving the impression that even if it is voted to power it won't do anything new to give Bihar a facelift. It will repel voters with the belief that the BJP can't do anything without communal polarisation as its core ideology. This is sad and unfortunate,' says Mohammad Sajjad.
The Supreme Court on Friday said there should be a robust mechanism to ensure that the interests of Indian investors are protected in the stock market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of innocent investors and "artificial crashing" of the Adani group's stock value.
India's state-run NTPC is launching bids for clean technology for two coal-fired power plants near New Delhi, officials said, as criticism mounts over the country's failure to end a toxic smog which strikes the capital every winter.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
Sharad Pawar reckons that the NCP has value as a united, going concern, not as a gaggle of leaders in search of followers, notes Shreekant Sambrani.
Jet Airways, which is yet to resume operations under its new owner, will reduce salaries for various staff and send many employees on leave without pay, amid uncertainty over resumption of its operations. The measures, which will be effective from December 1, were revealed hours after the winning bidder Jalan-Kalrock Consortium (JKC) said it might take "difficult" near-term decisions to manage cashflows. The once-storied airline shuttered operations in April 2019 and JKC's resolution plan was approved under the insolvency process by the National Company Law Tribunal (NCLT) in June last year.
A December 28 board meeting of the Securities and Exchange Board of India (Sebi) may tighten norms for initial public offerings (IPOs). The board may look to prescribe a minimum 5 per cent gap in IPO price bands, extend the lock-in period for anchor investors to 90 days and cap the amount a majority investor can sell through offer for sale. The regulator is looking at whether there can be a preferred allocation for anchor investors who opt for a longer lock-in period, said a person familiar with the matter.
Russian owner Abramovich put the club up for sale in early March following Russia's invasion of Ukraine, which Moscow calls a "special military operation". Sanctions on Abramovich had also complicated the sale process.
The minimum temperature in the capital dropped to 9.6 degrees Celsius, three notches below normal and the lowest this season so far. The maximum is likely to settle around 27 degrees Celsius, the India Meteorological Department said.
Privatisation of BPCL, which was dubbed India's biggest ever, has been stalled with just one bidder left in the fray after two others walked out over issues such as lack of clarity in fuel pricing, a top source said. The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expression of Interest from bidders in March 2020. At least three bids came in by November 2020 but only one remains now after the others withdrew from the race.
The Gujarati's intolerance for diversity can be seen in India's hard nationalism which is showing itself in Kashmir and the North East, observes Aakar Patel.
The central bank's currency management will be critical over the next few months. A weaker rupee could help to revive exports. But, the currency must fall slowly and in controlled fashion, says Devangshu Datta.
Auditoriums, malls, gyms and spas will be shut down and cinema theatres will be allowed with a third of the capacity on weekdays. Eating out will be banned and only home deliveries will be allowed. Weekly markets will be allowed but with restrictions.
The man had attended a stag party recently in Manali in Himachal Pradesh.
The Delhi Pollution Control Committee (DPCC) also issued guidelines for implementation of the ban on firecrackers, which included directions to the Delhi Police to register a first information report against the violators of the ban.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
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 Reserve Bank on Friday accepted most of the recommendations of its working group on corporate ownership of private sector banks, by allowing unrestrained promoter shareholding in the first five years of operations and hiking the same to 26 per cent after 15 years from the extant 15 per cent and also the new capital requirements. The move will benefit leading banks like Kotak Mahindra Bank and IndusInd Bank, among others, which have been seeking more time from the regulator to divest their stakes for many years now. Accepting 21 of the 33 recommendations of the internal working group, the central bank said the remaining suggestions are under its consideration.
Hitting back at former prime minister Manmohan Singh for his criticism of the Modi government's handling of the economy, Finance Minister Nirmala Sitharaman on Thursday said he is more remembered for having brought India to "fragile five" and rampant inflation during his term.
Despite legal deterrent in place to discourage people from doing so, by dusk, residents in many neighborhoods, including some areas in south Delhi and northwest Delhi, had started bursting crackers.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
The leaders attacked the BJP, accusing it of trying to create "Hindu-Muslim disturbances" to benefit politically and making false claims and promises.
One Chinese source informed ANI that 10 million new infections are probably occurring daily in China.
During their hour-long in-person meeting on the sidelines of a Shanghai Cooperation Organisation (SCO) conclave in Dushanbe on Wednesday, External Affairs Minister S Jaishankar also told his Chinese counterpart and State Councilor Wang Yi that any unilateral change in the status quo along the Line of Actual Control (LAC) was 'not acceptable' to India and that the overall ties can only develop after full restoration of peace and tranquillity in eastern Ladakh.
Raking up the Kashmir issue, Prime Minister Nawaz Sharif on Thursday said it is the "main source of tension" in Indo-Pak relations and sought its peaceful resolution to explore new ways to bolster bilateral ties.
India's immediate priorities have been the safe return of the Indians still in Afghanistan, bringing back the Afghan nationals who stood by New Delhi, and ensuring that Afghan soil is not used for terrorism directed at India
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
'It appears on the face of it that the Taliban of 2021 is not the same Taliban of 2001. There appears to be some difference. They are making mature statements. That is something we have to take note of,' former external affairs minister Yashwant Sinha said
Only 80.6 per cent of the Rs 6-trillion allocation has been spent by February, data from the Controller General of Accounts shows.
Road and rail traffic was partially affected in some regions on Monday during a 'Bharat bandh' called against the Agnipath military recruitment scheme, while protests appeared to taper off in many states, with authorities stepping up security and imposing curbs after days of unrest.
Infosys' up to Rs 9,200 crore buyback plan is scheduled to commence from June 25, wherein the IT major has proposed to buy back shares at a maximum price of Rs 1,750 apiece. The Board approval for the buyback was granted on April 14, 2021, and the shareholders' nod was received on June 19, 2021, at the company's 40th annual general meeting. The Bengaluru-based company has issued a public announcement on June 23 in various newspapers for the buyback of its equity shares from the open market through the stock exchange route, a regulatory filing said on Wednesday.
As per statistics available with the Mumbai police, only 1 per cent of the temples in the metropolis have obtained permission to use loudspeakers in their premises, an official said.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
As the voting process for the new Conservative Party leader formally opened with postal ballots being mailed out to Tory members from Monday, Rishi Sunak vowed to cut the basic rate of income tax by 20 per cent in a few years if he is elected Britain's prime minister.
No improvement in the air quality in Delhi-NCR is expected for another three days, authorities said on Monday, as the Supreme Court directed the Centre to call an emergency meeting to decide on measures like stopping non-essential constructions, transport and power plants by Tuesday evening.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
Even if the Paytm fiasco does not mark the end of the bull run, at least some sanity will return to the wild IPO market, observes Debashis Basu.
