The Reserve Bank on Monday asked all banks and financial institutions to assess the impact on their balance sheet, asset quality, liquidity, among others, in the wake of the potential threat arising out of the spread of coronavirus disease in India. Several confirmed cases have also been detected in India, which highlight the need of a co-ordinated strategy for handling the emerging situations to protect the resilience of the Indian financial system, RBI said in a notification addressed to banks, urban cooperative banks, NBFCs, payment and small finance banks.
'The Chennai floods in particular clearly show there is a nexus between corruption, disaster, destruction and death.' 'Urban development in India is the source of all corruption.'
As India launches the world's most ambitious and biggest vaccination drive against COVID-19, the country will encounter the formidable challenge of rapidly scaling up distribution of the vaccines to secure immunity for its entire population, two prominent Indian scientists at World Health Organisation have said.
Ramdev's herbal medicine company Patanjali Ayurved has launched 'Coronil tablet and Swasari vati' medicines claiming they can cure the highly contagious disease within seven days.
The Justice Department has also been investigating criminal fraud allegations against Volkswagen for misleading U.S. consumers and regulators.
Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
'The worst is possibly over because too many of us may already be infected.'
India achieved record foodgrains production this year but the withdrawal of three agri-reform laws and spike in cooking oil prices cast a shadow on the country's resilient agriculture sector that is on course for better harvest in 2022 despite pandemic blues. While soaring production of foodgrains that also helped the government provide free additional rations for COVID-hit poor families for many months together came as a relief, the passing year will be remembered for the long drawn farmers' protest at Delhi borders against the three laws and subsequent repeal of the legislations. The Indian agriculture sector, which was among the few segments that remained robust amid the pandemic gales, is expected to register a growth rate of 3.5 per cent in the current financial year ending March 2022.
Sebi will be taking a number of measures to develop a derivatives market of commodities.
Formula One will have simpler, cheaper and noisier engines from 2021 as part of a "road map" for the future presented to teams on Tuesday that could entice new manufacturers to enter the sport.
IRDA said it wanted to seek a legal mandate jointly with Sebi, but the market regulator had reservations.
However, the growth during the next financial year would be higher at 8.1 per cent in case of a second wave of the coronavirus and bit slower at 7.9 per cent if the virus recedes and remains under control.
'Indian markets may initially react and follow the pattern of US and other global markets post US elections.'
As per the clinical trial protocol approved, 150 subjects with mild to moderate COVID-19 will be randomised in the study in a 1:1 ratio to Favipiravir with standard supportive care or standalone standard supportive care. Treatment duration is a maximum of 14 days and the total study duration will be a maximum for 28 days from randomisation.
'There's also a possibility of the cyclonic system changing its course, thus avoiding a landfall in Odisha'
Traditionally, financial institutions have operated risk functions in silos. However, the nature of unknown threats today requires industry participants to work together, says Vikram Limaye.
Empty middle seat, no duty-free shopping to be new normal till WHO all-clear.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
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In a letter to health minister Harsh Vardhan, the Indian Pharmaceutical Alliance, an industry body representing leading pharma companies, including Sun Pharma, Lupin, Dr Reddy's Labs, Cadila Health and Glenmark, stressed the need for an out-of-court settlement with health activists fighting for the rights of clinical trial participants.
"We are concerned about the data localisation law and the new e-commerce regulations...they do not fully take into account the needs of all stakeholders, including American and other foreign companies," acting principal deputy assistant secretary of the US, Thomas Vajda said.
Senior Congress leader Anand Sharma on Sunday raised concerns over India's drugs regulator granting permission for restricted use of Bharat Biotech's COVID-19 vaccine and asked the government to explain why mandatory protocols and verification of data has been dispensed with.
The price for pushing the envelope beyond the comfort zone that the land of storytelling is used to is a hefty one, observes Meghna Chadha.
Neeraj MS, 25, a social worker at NIMHANS in Bangalore shares some tips:
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
'If the RBI had done the right things, these mistakes would not have happened in banks, public or private,' says Ajay Shah.
Dietician Komal Jethmalani provides expert help.
Regulators and investigators around the world have access to sophisticated tools making it possible to detect white collar crimes. This is where Indian investigators and regulators have been found wanting, says Sudipto Dey.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
BCCI finally agreed to come under the ambit of NADA, in the process becoming a National Sports Federation despite being financially autonomous.
As world leaders discuss measures in Copenhagen to save the planet from global warming, Nordic airline Finnair has mooted setting up of a global body under the United Nations to regulate emission trading.
Pfizer and BioNTech said they have concluded phase 3 study of their mRNA-based COVID-19 vaccine candidate BNT162b2, meeting all primary efficacy endpoints.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
'In many parts of the country, the empty nest-and-empty-nest egg story is a painful boom-to-bust saga.' 'Among the old and young, it is hitting pockets hard, in a linked chain of debt-laden banks, corrupt politicians and builder mafias and disastrous government policies,' says Sunil Sethi.
'The Olympic Spirit has been thrown to the wind in Xi Jinping's China.' 'The International Olympic Committee is ready to kowtow to totalitarian China,' notes Claude Arpi.
India has historically not had a strong compliance mechanism around insider trading. This is in stark contrast to developed countries.
The change in WTC rule, prompted by the disruption caused by the COVID-19 pandemic, allowed Australia (82.22%) to leapfrog India (75) to the top of the standings
Planning is not only a question of having a vision, says Jyoti Hosagrahar of Columbia University.
'To prevent large gatherings, BAPS mandirs (temples) will be closed throughout the world, but devotees will be given daily darshan through the websites of each mandir,' the BAPS said in a media release.
Rahul Johri has been included in the six-member working group, set up by the ICC, to consider the sanctioning of players' release for the franchise-based Twenty20 leagues across the world.
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