The Uttar Pradesh excise department arrested climate activist Harjeet Singh for allegedly possessing excess liquor after the ED searched his premises in connection with a foreign exchange violation case. The ED is investigating the misuse of funds received from abroad and Singh's visits to Pakistan and Bangladesh.
'I don't think it is right to remove him over one lapse. The focus should be on restoring operations, not on removing a key management personnel.'
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
Hero MotoCorp Ltd (HMCL) has been the best-performing auto stock over the last three months, gaining over 17 per cent during this period. Multiple tailwinds, especially on the rural front, are expected to boost its volumes. In addition to the demand drivers, new launches too should help drive growth both in the commuter and premium motorcycle categories.
With inflation surging into double digits, the Reserve Bank of India on Tuesday said it may take monetary action to tame the rising prices ahead of the scheduled review of the policy on July 27.
Mumbai-based FINO, a multi-bank promoted company, is engaged in providing financial and non-financial products and services to the unbanked rural and urban population. It has enrolled 6 million customers since its inception in 2006.
Financial Intelligence Unit-India (FIU-IND) has imposed a Rs 5.49 crore penalty on Paytm Payments Bank for violating anti-money laundering rules, the Finance Ministry said on Friday. FIU-IND initiated a review of Paytm Payments Bank on receipt of specific information from law enforcement agencies in respect of few entities and their network of businesses engaged in a number of illegal acts, including organising and facilitating online gambling.
Police have arrested three persons from Mumbai, including a woman, for allegedly trafficking a man from Chhattisgarh's Durg district for 'cyber slavery' in Laos in southeast Asia and cheating him of Rs 2 lakh, an official said on Wednesday.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Shares of Zee Entertainment Enterprises Ltd (ZEEL) tumbled 12 per cent in the mid-session trade on Wednesday amid reports of capital market regulator Sebi has unearthed a financial discrepancy exceeding USD 241 million (nearly Rs 2,000 crore) in the accounts of the company. The stock of the company nosedived 11.58 per cent to Rs 170.65 apiece on the BSE. ZEEL shares plunged 11.39 per cent to Rs 170.70 per piece on the NSE.
Megha Engineering and Infrastructure, the little-known Hyderabad-based firm that in recent years won the prestigious Zojila tunnel deal among other projects, forayed into city gas and acquired a media group, was the second largest donor to political parties using electoral bonds.
Facebook, LinkedIn, Twitter had 160 mn users but made less than Rs 100 cr in 2012-13
With Mukesh Ambani taking over Network 18, the space for disseminating a diverse range of views could shrink, feels Paranjoy Guha Thakurta.
VIL has countered Trai's contention that the RedX plan, which commits higher speeds, should have been informed separately so different aspects could have been examined before such service was launched.
Consumers can expect a 5G launch in the country soon. Telecom companies (telcos) say if auctions take place on time - the target is July - they would be able to offer some services in a few cities by the end of this year and a full roll-out from 2023. But the question is: will 5G turn the tables for telcos financially? Will average revenue per user (ARPU) improve? Will mobile consumers upgrade to 5G quickly and pay more? Will the expanded functions that 5G enables drum up sufficient revenues? In simple terms, will telcos make more money?
Three stockmarket experts give their best picks for the New Year.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
IMD is preparing a concept paper on narrowing its grid resolution from 22 sq km to 10 sq km.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
The truth is that few ministries in the Modi sarkar are working on new and updated legislation of any kind.
India will have to deal with the question of whether broadband service providers are 'common carriers', like highways.
Vinod Kumar, Tata Communication CEO has amazing business strategies to enhance topline.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
As a multi-agency probe continues in Saradha scam, findings of one official investigation suggests that the group floated at least 279 companies to channelise money collected from gullible investors as part of a vast 'ponzi' network.
For FY16, MTNL's standalone net loss was over Rs 2,000 crore.
Forty years on, ironically, the managerial attention to new businesses has meant almost 40 per cent of revenues now come from the non-tobacco business.
The six are English dailies the Hindustan Times, The Hindu and The Telegraph; their sister publications The Hindustan and The Hindu Tamil; and Ananda Bazar Patrika.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
Like China, India needs to encourage 'hacker clubs' in view of the challenges of virtual terrorism, says Lieutenant General Prakash Katoch (retd)
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SpiceJet's ex promoter Ajay Singh is trying hard to pump in huge money into the airline.
While the total disbursement of housing loans by PSBs as well as HFCs witnessed a deceleration in 2016-17, there was significant growth for the lower slabs
Tamal Bandyopadhyay details HDFC Bank's digital journey.
'Biometric Aadhaar-based surveillance is not only about violation of privacy, but also about the treasure hunt for unprecedented financial surveillance and economic intelligence in the economic history of mankind,' asks Gopal Krishna.
Network18 founder Raghav Bahl is all set to launch his new venture.
Biometric authentication is based on the unscientific and questionable assumption that there are parts of human body that does not age, wither and decay with the passage of time.
India Inc has few leaders who are likely to grab headlines in 2015.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
Prime Minister Narendra Modi's three-day visit to Britain has seen India and the UK agreeing on Rs 90,000 crore deals.
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