Amid a row, the Madhya Pradesh government has directed the police to register an FIR against officials of e-commerce giant Amazon and its owner for allegedly selling products, including shoes, with the image of the Indian national flag, Home Minister Narottam Mishra said on Tuesday.
Apple's three vendors in the country have hit the milestone of creating 30,000 new direct jobs since the production-linked incentive (PLI) scheme for mobile devices kicked off in April 2021. Based on the government's estimate that one direct job in the electronics industry helps to generate three indirect ones, Apple's vendors, Foxconn Hon Hai, Wistron and Pegatron, are close to creating 100,000 direct and indirect jobs. The direct jobs that the vendors have created account for a fourth of Apple's commitment to generate 60 per cent of the new direct jobs out of the 200,000 jobs targeted by the government under the PLI scheme within five years.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Alternative investment funds (AIFs) - pooled investment vehicles catering to high net worth individuals (HNIs) - saw a 30 per cent increase in investment commitments during financial year 2022-23 (FY23). At the end of March 2023, the total investment commitments raised stood at Rs 8.33 trillion, up Rs 1.92 trillion from Rs 6.41 trillion at the end of March 2022. A commitment is the money clients are willing to put into AIFs.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
Sebi on Tuesday sent a notice to 7 entities, including Malvinder and Shivinder Mohan Singh, asking them to pay Rs 48.15 crore within 15 days in a fund diversion case of Religare Finvest. Sebi also warned of attachment of assets and bank accounts, if they fail to make the payment. The notice came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi).
Team Amazon would also educate and train the khadi artisans to directly sell their products to online customers.
For someone like me who studied Sam so intently, if a lump could form in the throat during the emotive scenes, I think the cast did a superb job, notes Lieutenant General Syed Ata Hasnain (retd).
The Securities and Exchange Board of India (Sebi), the market regulator, has said, in a submission to the Supreme Court, that it is "enquiring" into the allegations made by American short-seller Hindenburg Research against the Adani Group of companies and its impact on the markets. In the same matter, the central government has agreed to form an expert committee to strengthen the regulatory regime in order to ensure that market investors are protected. The Supreme Court had last week suggested an expert committee to look into the allegations and had asked the Centre for its response.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
US Secretary of State Mike Pompeo says China 'protects' violent Islamic terror groups from UN sanctions.
Nokia may be allowed to sell Chennai mobile plant.
'Rapists do have families. I wanted to see how a father or mother would deal with it.' 'They go through shame as well and get discriminated from the rest of the village.' 'Why don't we show it that way?'
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Sebi has barred fugitive businessman Mehul Choksi and one Rakesh Girdharlal Gajera from the capital markets for one year and levied a fine totalling Rs 2.5 crore on them for violating insider trading rules in the matter of Gitanjali Gems. In addition, they have been restrained from buying, selling or otherwise dealing in securities of Gitanjali Gems Ltd (GGL) for a period of two years. Also, the Securities and Exchange Board of India (Sebi) has directed Gajera to disgorge a sum of Rs 15.82 crore.
The government on Friday proposed hiking the securities transaction tax on Futures & Options (F&O) contracts, a move that will increase the trading costs in the derivatives segment as well as help in curbing excessive trades. In the Finance Bill 2023, passed by the Lok Sabha on Friday, the Securities Transaction Tax (STT) on options is proposed to be increased to 0.0625 per cent from 0.05 per cent and on futures contracts to 0.0125 from 0.01 per cent. Analysts opined that higher STT will shore up the government's revenues to some extent and also discourage excessive trading since a large number of retail traders are losing money in the segment.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Private labels remain big business for e-commerce marketplaces. They comprise almost 15 per cent of the total business of such firms.
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
ustice R Mahadevan passed the interim order on a plea moved by the Chennai-based Tamil Nadu Chemists & Druggists Association seeking a direction to authorities concerned to block the links of websites that selling medicines online.
We must heed what the CJI has said. Challenging every judgment of the central government is inviting chaos, asserts Shreekant Sambrani.
India, which has been at the forefront of the years-long efforts to reform the UNSC, began its two-year tenure at the Council on Friday last.
Union Environment Minister Harsh Vardhan welcomed the apex court's order and urged people to abide by the SC guidelines and 'give green Diwali and our environment a chance'
The protesting wrestlers refrained from immersing their medals in the river Ganges after being convinced by Khap and farmer leaders who sought five days to address their grievances.
To generate ample private sector interest, there is a need to introduce market-linked tariff rates.
The Supreme Court on Friday refused to accept in a sealed cover the Centre's suggestion on a proposed panel of experts for strengthening regulatory measures for stock markets in the wake of the recent Adani group shares crash triggered by Hindenburg Research's fraud allegations.
A European cargo airline has moved the National Company Law Tribunal seeking expeditious acquisition of three Jet Airways B777-300 aircraft. The application is by a Malta-based Ace Aviation VIII Limited, which emerged as a successful bidder in the auction of three Boeing 777-300ER aircraft. The firm is part of a Belgium-based cargo airline and its application will be heard on Wednesday.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Following an agreement with the International Cricket Council (ICC) in this regard, INOX Leisure had last week said, it will showcase all group matches to be played by Team India, followed by the semi-finals and the final match.
The prime minister was speaking at an event to mark golden jubilee of the Aditya Birla Group's presence in Thailand.
If you have an active trading account or have consumer loans or thinking of taking out a loan, consider investing in NBFCs, says Devangshu Datta
Through a combination of local manufacture and imported CBU models, the company makes and sells four SUVs, one hatchback, and one sedan.
The Securities and Exchange Board of India (Sebi) could soon issue interim orders imposing a market ban on the two former fund managers of Axis Mutual Fund (MF) for suspected front-running of trades, said people with knowledge of the development. "The market regulator has gathered prima facie evidence that demonstrates that the duo has violated the integrity of the market. "While a detailed investigation is still pending in the matter, Sebi could take action under Section 11 (4) to prevent further harm to the investors and the securities market," said a source.
'Investors with as little as Rs 1 can start investing in digital gold.'
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
Japanese auto major Honda Cars on Thursday unveiled its new offering for the Indian market -- City e:HEV sedan, marking its foray into the mainstream strong hybrid electric vehicle segment in the country. The company, which is present in India through a wholly-owned subsidiary, has commenced the bookings of the model and plans to introduce it in the market next month. As per the company, the model, an extension of its City model range, would feature self-charging two-motor strong hybrid system connected to a 1.5 litre petrol engine, entailing a peak power of 126 PS and fuel efficiency of 26.5 km per litre.
The BJP and the AIADMK are unable to sort out ideological differences, observes N Sathiya Moorthy.
The Supreme Court on Friday said there should be a robust mechanism to ensure that the interests of Indian investors are protected in the stock market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of innocent investors and "artificial crashing" of the Adani group's stock value.
It's a busy season for Indian producers of orthodox tea. As Sri Lanka, the world's largest supplier of orthodox tea, struggles with its worst economic crisis, a window of opportunity has opened up in neighbouring India. Calls to Indian planters and exporters from foreign buyers of Sri Lankan orthodox tea are pouring in and the buoyant sentiment is reflecting in prices at auction centres. Orthodox tea refers to loose-leaf tea which is produced using traditional or orthodox methods such as plucking, withering, rolling, oxidation and drying.
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
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