The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
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.
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
Even a doomsayer like Nouriel Roubini says India is in a sweet spot. If only we'd live up to the promise, says Shekhar Gupta.
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
This is the Centre's highest-ever budgeted capital outlay.
"There have been discussions on implementing UBI in J&K -- not just as a pilot in some districts, but in the entire state, according to Drabu's proposal in the state's Budget," said an official. "Finance Minister Arun Jaitley is also supportive of the idea. A presentation will now be made at the PMO."
Britain and China have clashed over the offer of British National Overseas passports to Hong Kong residents, observes Rup Narayan Das.
Data mining with the object of ensuring that resources are properly deployed to legitimate beneficiaries is a valid ground for the state to insist on the collection of authentic data
Summary of sports events and persons who made news on Tuesday.
Government is framing a rule that will make it compulsory for regulators like Sebi, Irdai and PFRDA to deposit a significant portion of their reserves into the Consolidated Fund of India.
Through this mobile application, the handset will be used for authenticating biometrics of customers making Aadhaar enabled payment.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
The Election Commission on Thursday issued a set of draft "revised" guidelines to political parties asking them not to give cash to their candidates in a bid to curb the menace of black money in elections.
Addressing his council of ministers in a video conference, Modi asked them to prepare business continuity plans to fight the economic impact of COVID-19 on a war footing, but also asserted that this crisis is an opportunity to boost the 'Make-in-India' initiative and reduce dependence on other countries.
Over 4 mn bank accounts could be dormant, suspects tax department.
The FM asserted that nearly Rs 11.85 lakh crore out of the Rs 15.44 lakh crore junked notes were back into the system
ISI chief Faiz Hameed coerced the Taliban to announce an interim government guaranteed to preserve Pakistan's control over the levers of power in Kabul, observes Ambassador M K Bhadrakumar.
The Modi government's array of economic policy has been impressive.
Official sources said that the federal probe agency, which is investigating the PFI under the PMLA)tka since 2018, has found that at least Rs 1.04 crore were deposited in several bank accounts linked to the organisation between December 4 last year and January 6 this year in various parts of the country.
According to the Reserve Bank of India's data, cash still accounts for 90 per cent of all monetary transactions in India.
'Success will require political skill, not just economic expertise'
Advisory in this regard was issued by the Gujarat government three days before Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1000 notes.
Congress leaders have hit out at the BJP governments at the Centre and in Karnataka, questioning its timing.
Total subsidy bill could come down to around Rs 2 trillion.
Future Group founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide over the cash crisis. Opening up after being locked in an intense legal battle with Amazon over the Rs 24,713 crore deal with Reliance, Biyani in an interview with PTI said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance. He hoped to complete the deal with Reliance within two months of Sebi approval.
'Fear is also a great impetus to push people in the right direction.' 'So, everyone who has touched black money is scared and I'm very happy about it.'
In other welfare schemes, such as those for cooking gas, pension and scholarships, which are linked to DBT, cash is transferred directly into the bank accounts of beneficiaries.
The SC sought response of all the petitioners who have challenged demonetisation.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Indian airline SpiceJet Ltd said on Thursday that its billionaire owner, Kalanithi Maran has proposed to transfer majority ownership in the ailing carrier to co-founder Ajay Singh.
The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
Read the investor-developer agreement carefully before signing the cheque
Be it loan waiver or DBT transfer, it only helps in creating a "feel good" factor and postpones the problem for some time if structural problems are not handled.
With the first salary date after demonetisation around the corner, will India's labourers be able to take their hard-earned wages home?
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
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