The Serum Institute of India has informed the Centre that it will be able to supply around 22 crore doses of Covishield in October as the Union government has announced resuming export of surplus Covid vaccines in the coming fourth quarter under the 'Vaccine Maitri' programme, official sources said.
Ahead of the end of his term as the Kotak Mahindra Bank's chief executive and managing director, Uday Kotak has said he will be a "non-executive board governance member and a strategic shareholder" going ahead. In the private sector lender's annual report, the last such message from him as the MD and CEO before he relinquishes the position at the end of 2023, Kotak reminisced about the institution's journey, pointing out that Rs 10,000 invested in 1985 is worth over Rs 300 crore today. "Going forward, I see my role as a non-executive board governance member and a strategic shareholder with a long term perspective of nurturing a world class institution," Kotak said in the annual report.
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
On production capacity of Covishield, the vaccine being manufactured and supplied by Serum in India under a licensing agreement with Oxford and AstraZeneca, he said the present capacity is 130 million doses per month and always try to increase it further.
Dispatch of the vaccine is likely to start by early Tuesday morning, sources said. According to the order placed, each dose of the vaccine has been priced at Rs 200 and with GST of Rs 10, it would cost Rs 210.
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
An expert panel of India's Central Drug Authority on Tuesday recommended granting permission to Serum Institute of India (SII) for conducting phase 2/3 trials of Covid vaccine Covovax on children aged 2 to 17 years with certain conditions, official sources said.
Several private hospitals across the country said they have no clarity on procuring COVID-19 vaccines under the new policy announced by Prime Minister Narendra Modi and that it has led to the vaccination being put on hold at their centres.
As for Bharat Biotech, the Subject Expert Committee (SEC) on COVID-19 of the CDSCO asked the firm to expedite volunteer recruitment for the ongoing clinical trial and said it may conduct interim efficacy analysis for further consideration of restricted emergency use approval for its vaccine Covaxin, they stated.
According to officials, an additional dose of vaccine is different from a booster dose.
In a first, the government has made it mandatory for interested buyers of IDBI Bank to provide details for security clearance from the Ministry of Home Affairs (MHA) in the first stage of the bidding process. So far, in all instances of CPSE privatisation, the government would seek details regarding security clearance of the bidders at the second stage of the bidding process. This meant that bidders who qualified in the first or the Expression of Interest (EoI) round, were required to seek security clearance from the government while placing their financial bids.
These changes will entail a relook at the various laws governing banks in the country - the two Bank Nationalisation Acts (passed in 1970 and 1980); the State Bank of India (SBI) Act of 1955; and the Companies Act of 2013.
Former oil secretary Tarun Kapoor, present and former chairmen of ONGC and a former director of IOC, are among over a dozen people who have applied for the top job at the oil and gas regulator, PNGRB, sources said. Kapoor, who superannuated as Secretary to the Ministry of Petroleum and Natural Gas last month, is the most prominent name in the list of 13 persons who have applied to become the chairman of Petroleum and Natural Gas Regulatory Board (PNGRB). Oil and Natural Gas Corporation (ONGC) chairman and managing director Subhash Kumar and his predecessor Shashi Shanker are also in the race and so is G K Satish, who superannuated as Director for Planning and Business Development from Indian Oil Corporation (IOC) a couple of months back.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Imports in 2016 expected to be lowest in 7 years but experts don't rule out a revival in demand if the yellow metal's price falls
While most of Sebi's new norms are aligned to changes in Companies Act, they are more stringent in certain areas.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Scores of chartered accountants, company secretaries and cost accountants are currently under the regulatory scanner for alleged violations of the companies law with respect to setting up of certain Chinese companies and their subsidiaries in India, according to officials. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated. The Institute of Cost Accountants of India has also initiated action against some of their members in the matter.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
She will replace controversial Brett Kavanaugh who endured a bitter confirmation battle last year after President Donald Trump named him to the US Supreme Court.
The announcement comes a day after the Subject Expert Committee (SEC) on COVID-19 of the CDSCO recommended granting emergency use authorisation (EUA) to the COVID-19 vaccines Covovax and Corbevax with certain conditions.
Sebi had asked all listed cos to mandatorily appoint at least one woman director.
The approval by the Drugs Controller General of India (DCGI) was given on the basis of recommendations submitted by a COVID-19 subject expert committee (SEC) of the Central Drugs Standard Control Organisation (CDSCO).
Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
The problem can be met, according to Shubhashis Gangopadhyay, research director of India Development Foundation, by the government tapping into its own land holdings.
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.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
During the debate on the 'Motion of Thanks on the President's Address', Leader of the House Piyush Goyal and Union Finance Minister Nirmala Sitharaman strongly objected to 'insinuations' against the prime minister, who was also present in the House.
Tharoor argued that the proposed bill represents a "grave chapter in the history of the Indian republic, seeking to ratify an ordinance that in many ways is an assault on our democratic heritage and the spirit of federalism."
Passenger and commercial vehicle prices are expected to rise as automobile companies invest in upgrading vehicles to meet stricter emission norms that kick in from April next year. The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real time driving conditions. Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to meet the next level of emission standards.
Auditors and promoter entities linked to the UB Group have come under scanner of multiple regulatory agencies for alleged irregularities.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
Under the new policy, external advice would be sought for related party transactions that are worth over Rs 2 crore and bidding process would be mandatory for any such contract.
Capital markets regulator Sebi on Tuesday asked listed companies to work towards splitting the roles of chairman and managing director before the April 2022 deadline, as the new directive is not aimed at weakening the position of promoters. Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance. The regulation will now be applicable to the top 500 listed entities by market capitalisation, with effect from April 1, 2022.
'If the government starts playing favourites, if the government acts in a manner which is not transparent, then natural resources which belong to not just you and me, but future generations, they fritter away. The anger against corruption, the anger against India's natural resources being looted is a consequence of the fact that within society there is a huge amount of turmoil and discontentment. Why should an Empowered Group Of Ministers or the Cabinet Committee on Economic Affairs decide the administered price of gas?' asks Paranjoy Guha Thakurta in this exclusive interview with Rediff.com's Sheela Bhatt.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
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