At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
India is expected to ramp up its purchase of crude oil from the United Arab Emirates (UAE) in the coming months following discussions between the two countries on the sidelines of the ongoing COP28 summit in Dubai, multiple sources in the know said. The UAE has historically been India's third-largest source of crude. It has suffered the largest drop in shipments since Indian refiners began to binge on Russian crude in 2022.
The joint committee of Parliament examining the Personal Data Protection Bill, 2019 has adopted its report on the bill with several opposition MPs, including those from the Congress, Ttrinamool Congress and Biju Janata Dal, submitting their dissent notes.
After withdrawing the personal data protection bill, the government is hopeful of getting a new legislation passed by the next Budget session of Parliament, Union minister Ashwini Vaishnaw has said. The government on Wednesday withdrew the Personal Data Protection Bill from the Lok Sabha. The Joint Committee on Personal Data Protection Bill, 2019, headed by BJP member P P Chaudhary, had tabled its report in Lok Sabha on December 16, 2021.
After withdrawing the personal data protection bill, the government is hopeful of getting a new legislation passed by the next Budget session of Parliament, Union Minister Ashwini Vaishnaw has said.
Shah visited the residences of CM Ekanth Shinde, and DCM Devendra Fadnavis to take darshan of Lord Ganesh.
'What happened to Andhra Pradesh? It is the perfect example of the transientness of Federal Units.' 'Federalism is a transient thing in this country.'
The 26 sectors specified by the RBI include automobiles, power, tourism, cement, chemicals, gems and jewellery, logistic, mining, manufacturing, real estate, and shipping among others.
'The Bills (Bharatiya Saksha, Bharatiya Nagarik Sanhita and Bharatiya Nyaya Sanhita) are arbitrary, opaque and ambiguous and structurally quite violent.'
'The court can decide once I take the decision, but the court cannot order the speaker and force him to take a decision within a certain timeframe'
Creating a positive reform that does away with an official who constitutes a flawed aspect of Indian democracy will allow the BJP to rightfully claim this as one of its positive legacies, suggests Karan P Shah.
'ESG is actually a concept which cannot be applied effectively in the very short run.'
Maharashtra Chief Minister Eknath Shinde on Monday announced the withdrawal of police cases filed against pro-Maratha reservation protesters in Jalna district, the epicentre of the latest round of stir on the issue, and urged quota activist Manoj Jarange to end his indefinite fast.
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
'In the larger cities, we can see that 12%-20% of the population making use of the metros. I don't think it is happening in the smaller cities.'
The National Stock Exchange (NSE) has made a fresh attempt at settling a regulatory investigation into the misuse of Trading Access Point (TAP) software at the bourse. The Securities and Exchange Board of India (Sebi) rejected a similar application in 2022. "NSE and its employees have filed a consolidated settlement application dated May 4, 2023, with Sebi.
Air quality in Delhi and its suburbs dropped to the severe category again on Wednesday morning, with smoke from post-harvest paddy straw burning in neighbouring states accounting for one-third of the air pollution in the national capital.
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
For the country's maiden offshore mineral mining auction, the Centre is planning to relax the rules on the number of chances for bidding. Under the newly announced draft Offshore Areas Mineral (Auction) Rules and Offshore Areas (Existence of Mineral Resources) Rules, the ministry of mines is planning to offer three chances to potential bidders in its forthcoming inaugural offshore mining auction. If a single bid is not received during the second attempt, the plan is to initiate a new round of bidding for the third time.
Shinde announced that his government is committed to providing reservation to the Maratha community.
Whenever there is an evaluation scheme, it is human tendency to score as high as possible. None would like to highlight their shortcomings, and everyone likes to highlight their positives. This is what is happening in this context of rankings as well, points out Profesor N Ravichandran.
The Law Commission is working on a formula to synchronise all assembly polls by extending or reducing the tenure so that all state elections can be held along with the Lok Sabha polls 2029 onwards, sources said on Friday.
India has allocated Rs 1.72 trillion, or 27.67 per cent of the total defence budget to cater to modernisation of the country's arsenal. Modern militaries spend up to 50 to 60 per cent of their total defence budget so that they go into combat with superior weaponry and equipment.
The Government of India has supported the states and undertook a series of actions including provisioning medical oxygen, and other consumables to ensure clinical care of COVID-19 patients in view of the steep rise of COVID-19 trajectory in the country during April- May 2021.
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.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
Later in the afternoon, he also said that he was planning to hold a rally of the Maratha community at the protest site on October 12. "It will be attended by all the Marathas. It will show our plight and disappointment.... I will continue my protest here and will not even see the faces of my children till then," he said.
After topping it for two consecutive years, Gujarat slipped three places on the NITI Aayog's Export Preparedness Index (EPI) for 2022, as Tamil Nadu emerged as the most export-ready state, the central think tank said in its report released on Monday. In a continuing trend, coastal states were found to have the most robust export infrastructure, which officials attributed to the integration of maritime trade into the core of their economies. Maharashtra and Karnataka retained their positions -- second and third, respectively; Haryana was ranked first among landlocked states and fifth overall.
The exchange cited issues with its telecom service providers that prevented stocks and index quotations from getting updated.
Amid some Indian National Developmental Inclusive Alliance (INDIA) constituents switching sides to the National Democratic Alliance, Congress leader Sachin Pilot on Sunday said the opposition alliance is 'strong' and the Bharatiya Janata Party is attempting a 'frantic rejig' of the political landscape as it is worried over the collective strength of the coalition.
The top court said the faith of people in the efficacy of law is the saviour and succour for the sustenance of the rule of law.
Priyank Kharge on Wednesday said criteria and frameworks are being decided for its implementation.
White House National Security Council spokesman John Kirby said on 'CNN This Morning' that 'the President still believes that a reoccupation of Gaza by Israeli forces is not good. It's not good for Israel; it's not good for the Israeli people'.
'Unless the government comes up with the rulebook, the technical requirements will not be clear to us.' 'Going by the Act, non-technical provisions can be complied with within six months.' 'But we need up to 24 months for provisions like parental consent.'
A parliamentary committee on Friday batted for reducing the minimum age to contest Lok Sabha and assembly elections, saying it would give the youth equal opportunities to engage in democracy.
Cyber insurance policies cover ransomware attacks and the ensuing damages, including ransom payments, data restoration costs, forensic and other first-party costs, and loss of profit due to business interruption.
The Reserve Bank on Thursday proposed tighter norms for treatment of wilful defaulters under which banks and other lenders will be required to examine all accounts with outstanding amount of Rs 25 lakh and more to see if the borrower is deliberately not repaying the loan. The central bank has issued a 'Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters' on which comments have been invited till October 31. According to Reserve Bank of India (RBI), the draft Master Direction expands the scope for regulated entities which can classify borrowers as wilful defaulters and broadens the definition of wilful default.
'Midcap and smallcap indices are trading in the expensive zone.'
Markets watchdog Sebi on Friday directed stock exchanges to impose "financial disincentives" on stock brokers for technical glitches at their end, amid instances of snags at the brokers' end impacting the overall trading system. Besides, the stock brokers would have to inform the bourses within one hour of any glitch happening in their trading sysstems as well as submit a preliminary incident report in one day. As part of tightening the regulations, Sebi also said that the bourses should disseminate on their websites the instances of technical glitches occurring in the trading systems of stock brokers along with the Root Cause Analysis (RCA) of such issues.
If a citizen chooses not to use Aadhaar as the default unique identity, then other unique identity proofs masked and linked to Aadhaar would be used.
