'Welfare schemes are not a necessary evil, they are a necessary good.'
He said social media companies are free to do business in India but they have to be accountable to the Indian Constitution and laws.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
China has long coveted Arunachal Pradesh, which it calls Southern Tibet. But, as Venkataraghavan Subha Srinivasan explains, in 1947, the present state of Arunachal Pradesh constituted the North East Frontier Tract of Assam. When India adopted its Constitution on 26 January 1950, NEFT became 'a separate politico-administrative entity' although it was constitutionally still a part of Assam. Its administration was brought directly under the President of India with the Governor of Assam acting as his agent. A revealing excerpt from his book The Origin Story of India's States.
Kishore Biyani-led Future Retail Ltd (FRL) on Monday said it is "reviewing" the Delhi high court order that has rejected its plea to restrain Amazon from writing to regulatory authorities about the SIAC arbitral order against its asset sale under a Rs 24,713 crore deal with Reliance. FRL, in a regulatory filing, said it would submit a brief summary after consultation with legal advisors.
Pune-based Serum Institute of India (SII) is sitting on 200 million doses of Covishield that were manufactured in December and are set to expire in September. The company is likely to destroy these vaccines if nothing works out, Sohini Das reports.
Indian economy is expected to grow 10.5 per cent or more in the current fiscal, Niti Aayog Vice Chairman Rajiv Kumar said on Thursday. Speaking at a virtual conference organised by the Public Affairs Forum of India (PAFI), he also said that modernisation of the retail sector is very much on the cards. "India Purchasing Managers' Index (PMI) for both manufacturing and services has shown a very smart uptick last month. "This (Indian economy) will strengthen even further," he said. "I expect Indian economy to grow 10.5 per cent or higher in FY 22," he noted.
Few proposals included in the Finance Bill would not help ease liquidity concerns in the economy, say RBI officials.
The government has proposed "drastic changes" in the rules framed to retune the composition of three committees of the RBI: Board for Financial Supervision, the Board for Payment and Settlement Systems and the Committee of the Central Board.
A Delhi court on Thursday directed the Central Bureau of Investigation to withdraw a lookout circular issued against the chair of Amnesty International India Board Aakar Patel in a case of an alleged violation of the Foreign Contributions Regulation Act and apologise to him.
However, the report pointed out that the implementation of the grievance redressal process still has many gaps as "only 22 per cent of the consumers involved in a grievance redressal process were satisfied due to the uncertain timelines involved". The Real Estate (Regulation and Development) Act, 2016, was passed by Parliament in March 2016.
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
The suspension of soccer leagues across Europe due to the COVID-19 pandemic will see overall player value drop by 6.6 billion euros ($7.5 billion), or about 18%, in the transfer market, KPMG's global head of sports Andrea Sartori said. The majority of leagues have resumed or are in the process of restarting their seasons behind closed doors before the transfer window reopens, with clubs still reeling from the financial impact of the months-long shutdown.
From small restaurants to mighty software companies, it is businesses, not the government, that create jobs. Yet, in a cruel irony, they have to fight extortive and brutal State power every step of the way, says Debashis Basu.
Underlining that years of economic stagnation have given way to a "roaring geyser of opportunity", Trump said, "I knew that if we unleashed the potential of our people, cut taxes, slashed regulation, fixed broken trade deals and fully tapped American energy that prosperity would come thundering back ... and that is exactly what happened."
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
The Opposition on its part wants to corner the government by raising issues like alleged shortcomings in the healthcare system during the second wave of the coronavirus pandemic and the distribution of Covid vaccines to states.
A large number of women from various states reached the sites of protest against the Centre's three farm laws that has been going on for over 50 days now.
Rather than talking endlessly about lost and marginal opportunities, India's climate envoys need to start thinking bigger, says Mihir S Sharma.
Releasing a report titled 'Profiting from Pain' in Davos, the rights group further said as the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion every two days.
The Bombay Stock Exchange brokers plan to take up extending trading hours with the Prime Minister and market regulator Sebi.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
Trump said America is "open to business" and competitive again.
But worries mount over emerging markets and regulation
The new Real Estate Bill will allay buyers' fears and concerns, and speedily redress grievances.
Rera's implementation is patchy across states, and the powers of the regulator to enforce its orders are also limited.
The study was commissioned by the Forum of Indian Regulators -- a body which is open to all regulators but currently dominated by power regulators.
Indian fliers regularly face issues like lost baggage, refund on cancellation and harassment by staff at airports
Billionaire Gautam Adani on Thursday said his logistics-to-energy conglomerate will invest $70 billion over the next decade to become the world's largest renewable energy company and produce world's cheapest hydrogen. Adani Green Energy Ltd (AGEL), the world's largest solar power developer, is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest $20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23. Adani Transmission Ltd (ATL), India's largest private sector power transmission and retail distribution company, is looking to increase the share of renewable power procurement from the current 3 per cent to 30 per cent by FY 2023 and to 70 per cent by FY 2030.
The education would help investors in protecting them from volatility in the equity market and also reduce volatility in individual stocks.
There have been over 300 attacks against Christians and their churches and prayer halls, primarily in northern India, states Aakar Patel.
Prime Minister Narendra Modi on Tuesday pitched India as the most attractive investment destination for those looking to invest in urbanisation, mobility, innovation and sustainable solutions. Speaking at the Bloomberg New Economy Forum, he said India and some African nations will witness the biggest wave of urbanisation over the next two decades. The post pandemic world has to be rebuilt around people and cities will have to be made more liveable, he said adding post-Covid restart will not be possible without a reset of mindset, process and practices.
Rs 3,050-crore penalty on Airtel, Voda Idea gets nod. Final decision will be taken by DoT.
India's first 1000 MW atomic power plant built with Russian collaboration at Kudankulam is just two steps away from going critical, a top official said on Friday.
The Supreme Courts has pulled up Sahara Group and its chief Subrata Roy for not responding to the contempt plea filed against them by SEBI.
'Banking is a business of trust.'
India needs a rebooting and the country must give "value to common sense" to tackle issues like slowdown of growth, feels CEO of Swiss FMCG giant Nestle, Paul Bulcke.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
