Both Corporate Affairs and Finance Ministries are studying the feasibility of implementing the FMC's proposals.
Dr Samir Shah, who was honoured with a CBE by Queen Elizabeth II in 2019 for services to television and heritage, will replace Richard Sharp, who had been forced to resign after his communication with former prime minister Boris Johnson came under scrutiny.
The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore (Rs 56 billion) payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".
The Plan Panel was set up by a simple government resolution in March 1950 had withstood many political and economic upheavals.
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Financial Technologies (India), has made a loan of Rs 225 crore to NSEL.
The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
The 'Pesta Demokrasi' is a cause for celebration not only for Indonesia but also for democracy and forces for peace all over the globe, notes Sandeep Chakravorty, India's Ambassador to Indonesia.
The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
The TDP and JD-U will have a lot to answer inside Parliament, day after day, session after session, notes N Sathiya Moorthy.
The Sebi Act deals with securities and the definition of securities, according to the Securities Contracts Act, doesn't include commodities.
DEA officials to push for this at a meeting with FM Jaitley.
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
Making a weak opening, shares of FTIL further tanked 45 per cent to Rs 105.5 -- its fresh 52-week low on the BSE.
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.
National Spot Exchange Limited, promoted by Jignesh Shah-led Financial Technologies, is facing payment crisis of Rs 5,600 crore (Rs 56 billion).
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
The RBI is considering permitting FII and commercial banks to trade on Indian commodity exchanges.
The proposed IFC disrupts existing regulatory structures.
The Enforcement Directorate on Tuesday arrested Financial Technologies India Limited founder Jignesh Shah in connection with its probe into the Rs 5,600-crore National Spot Exchange Limited money laundering scam.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
Google has approached the appellate tribunal NCLAT challenging the CCI's order on unfair business practices in Android mobile device ecosystem, the company spokesperson said on Friday. The Competition Commission in October slapped a steep penalty of Rs 1,337.76 crore on internet giant Google for abusing its dominant position in multiple markets in relation to Android mobile devices and ordered the internet major to cease and desist from various unfair business practices. A Google spokesperson told PTI: "We have decided to appeal the CCI's decision on Android as we believe it presents a major setback for our Indian users and businesses who trust Android's security features, and potentially raising the cost of mobile devices."
The manpower requirement will be met with the officers from FMC (both cadre and deputation) and by new hiring.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Post the correction over the past one year, we are seeing opportunities across sectors.
Commodity exchanges are all restructuring their boards of directors, after the recently issued guidelines of the Forward Markets Commission.
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In most developed markets, there are reporting agencies for spot markets and generally deals took place on the over-the-counter market.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
FTIL prepares to challenge the order in the Bombay high court
The Financial Sector Legislative Reforms Commission had in a report last year proposed a unified regulator for the entire financial sector -- markets, insurance, commodities and pension. It had, however, proposed to keep banking out of its purview for now.
The FMC on Thursday barred the National Spot Exchange and group firms from auctions of commodities held by the bourse after a complaint that firms related to the former managing director took part in the bidding process.
"It went up to 20-odd per cent in 2019 and to 25 per cent a year later. "That's when we decided to pull the plug; it was not sustainable for our business," says Chadha. Madison & Pike, instead, turned to Mumbai-based start-up Thrive, which provides third-party delivery services to restaurants at a much lower commission - three to five per cent.
A Delhi University alumnus with an MBA in finance and a doctorate, Vaish started his career as a banker in 1984, became an academician a few years later and joined the capital market in 1998.
Experts tell Ujjval Jauhari that investors need to be careful in picking stocks given high valuations and with markets possibly ignoring potential risks
Trading in agri commodities on Saturdays to be reviewed later; more changes likely in the coming months to align with global pattern.
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
'Manipur is critical to India's Look East policy.' 'It's a strategic state. In the Second World War, the Japanese entered Manipur through Burma.' 'China can use the same direction to approach India.'
