The Chernobyl nuclear power plant, which was taken over by Russian forces last month, has stopped transmitting data to the International Atomic Energy Agency (IAEA), the United Nations atomic watchdog has said, expressing deep concern for the staff working under Russian troops at the nuclear site in northern Ukraine.
The Enforcement Directorate (ED) has attached assets worth over Rs 757 crore of one of the country's most known multi-level marketing (MLM) and direct-selling companies, Amway India, as part of a money-laundering investigation. The central agency issued a statement on Monday, alleging that the company was perpetrating a "scam" by running a pyramid "fraud" in the guise of direct-selling MLM network. "The entire focus of the company is about propagating how members can become rich by becoming members. There is no focus on the products. "Products are used to masquerade this MLM pyramid fraud as a direct-selling company," the ED alleged.
It was alleged in an audit that Subramanian was the Yogi, but Sebi dismissed that claim in its final report on February 11.
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
With Sebi telling the Supreme Court that it was not investigating the Adani group since 2016, the Congress on Monday cited a Union minister's reply in the Lok Sabha to challenge the claim and asked whether Parliament was misled or the market regulator was "fast asleep" as investors were "duped".
Amid mass layoffs in the tech sector, the federal agency for immigration services has said it is wrong to assume that sacked workers holding the much-sought-after H-1B visas have to leave the country within 60 days, asserting they have multiple options to stay in the US. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
The Medicines and Healthcare Products Regulatory Agency said in its latest Yellow Card monitoring of the coronavirus vaccine programme this week that of the 18.1 million people who had the Oxford vaccine in the UK, 30 people developed blood clots and seven had died as of March 24.
''None of the existing vaccines have 100% efficacy.' 'Each vaccine will work openly on a certain percentage of the population.'
For the first time, the country's largest airline IndiGo will soon lease up to four wide-body Boeing 777 planes to cover the shortfall in its international operations, according to officials. The airline said the wet-leasing of "certain aircraft" will be done as an interim measure. IndiGo, which has so far only been operating narrow-body Airbus planes, ATRs and freighters, will now be having wide-body aircraft in its fleet.
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
ITC Ltd on Friday reported a 23.09 per cent increase in consolidated net profit at Rs 5,070.09 crore for the third quarter ended December 2022, helped by growth momentum across its operating segments. The diversified company had posted a net profit of Rs 4,118.80 crore during the October-December quarter of the previous fiscal, ITC said in a regulatory filing. Its revenue from operations was up 3.56 per cent to Rs 19,020.65 crore during the quarter under review, as against Rs 18,365.80 crore in the corresponding period of the previous fiscal.
Hearing PILs about "media trial" in the case, the court remarked that the media has become "polarised".
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
The CBI on Friday questioned former CEO of National Stock Exchange (NSE) Chitra Ramkrishna in view of fresh facts emerging in connection with its ongoing probe into the alleged abuse of co-location facility in the NSE, officials said. The agency has also opened look out circulars against Ramkrishna, another former CEO Ravi Narain and former COO Anand Subramanian to prevent them from leaving the country. The central probe agency had booked a owner and promoter of Delhi-based OPG Securities Pvt. Ltd, Sanjay Gupta and other in connection with alleged abuse of NSE co-location facility to make gains by getting early access to the stock market, they said.
The Commission said it is issuing the clarification 'in view of the anecdotal reports which are not based on empirical facts'.
Future Retail Ltd (FRL) on Wednesday held a meeting of its shareholders to consider and approve the sale of the company's retail assets to billionaire Mukesh Ambani's Reliance Retail Ventures Ltd. The meeting was chaired by Shailesh Haribhakti, FRL said in a regulatory filing. Haribhakti has been appointed by the NCLT to chair the meeting. The result of the voting will be announced in due course, it added.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
Zaporizhzhia power plant spokesperson Andrey Tuz said the plant has not sustained any critical damage, although only one power generation unit out of six is operational as the fire continued at the facility.
The US government has removed a regulation proposed by former president Donald Trump's administration that sought to narrow the definition of "specialty occupation" under the H-1B visa regime. The change comes as a relief for Indian information technology firms, which are among the largest users of such visas. "The Department of Homeland Security (DHS) has formally vacated a regulation that would have redefined the H-1B specialty occupation, restricted off site placement of H-1B employees, and otherwise increased employer compliance obligations. "The vacatur follows a federal court ruling that set aside the regulation because the agency did not have good cause to bypass notice and comment rulemaking, in violation of the Administrative Procedures Act," explained immigration law firm Fragomen.
The government on Monday published a draft data policy for public consultation, which says all data collected, generated, and stored by every government ministry and department will be open and shareable barring certain exceptions. Also, detailed datasets that have undergone value addition could be monetised by the government. The policy document, called "Draft India Data Accessibility & Use Policy 2022", prescribes that a regulatory authority called the Indian Data Council (IDC) and an agency by the name India Data Office (IDO) will oversee framing metadata standards and enforcement, respectively.
As many as 150 applications are stuck at evaluation stage, says official.
The British-Swedish pharmaceutical major and the UK's medicines regulator said that the vaccines produced by Oxford University in collaboration with AstraZeneca to protect against COVID-19 are safe.
Cambridge, Massachusetts-based Moderna's announcement comes just a week after Pfizer and Biontech said their COVID-19 vaccine candidate was found to be more than 90 per cent effective in preventing COVID-19 in participants.
The domestic aviation industry is expected to report a net loss of Rs 25,000-26,000 crore this fiscal with elevated jet fuel prices and fare caps continuing to pose a major challenge for the airlines' profitability, domestic rating agency ICRA Ltd said on Thursday. The domestic airlines, however, are likely to post a reduced net loss of Rs 14,000-16,000 crore in the next financial year on the back of a "notable recovery" in air passenger traffic and lower level of debt, ICRA said. The ratings agency also estimates that the industry will require an additional funding in the range of Rs 20,000-22,000 crore during FY22-FY24.
It had posted net profit of Rs 125.75 crore (Rs 1.25 billion) during the January-March quarter of the previous fiscal, 2012-13.
Axis Bank recently informed the Reserve Bank of India that it had experienced a cyber attack, while the State Bank of India said it was re-issuing over 600,000 debit cards because of a potential security breach.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
Personal loans have about 80 per cent share in exposures restructured under regulatory package 2.0 by eight banks who have declared results for the second quarter. The remaining 20 per cent are loans to individuals used for business and credit to MSMEs. The total recast exposure of these banks under One Time Restructuring (OTR 2.0) was Rs 27,708 crore.
The apex court, which asked the Centre to consider creating a regulatory mechanism and apprise it, said the government should also inform as to what steps have been taken on the issue under the Cable Television Network Act (CTNA).
The court's direction came after being informed that the Ministry of Defence has granted the approval for electricity connections to the migrants living in north Delhi's Adarsh Nagar area.
Crisil Ratings on Wednesday said a broad-based recovery is on for India Inc currently, and upgraded its credit quality outlook to 'positive' from the earlier 'cautiously optimistic'. The rating agency said the credit ratio, which illustrates the number of upgrades to downgrades, rose to over 2.5 times in the first four months of the fiscal, as compared to 1.33 times in the second half of FY21, it said in a statement. The rating agency said it has also done a study of 43 sectors, excluding the financial sector, accounting for 75 per cent of the overall Rs 36 lakh crore in outstanding debt, which shows that the current recovery is broad-based.
The warning comes after two National Health Service (NHS) workers experienced 'anaphylactoid reaction' symptoms shortly after being injected, but are now said to be recovering well.
The Reserve Bank of India has submitted a list of big loan defaulters in a sealed cover to the Supreme Court with a submission that disclosing their names may have "adverse impact" for business and may "accentuate failure of business".
A SFIO probe into Saradha scam and 'chit fund' operations of 62 other entities has found serious financial mismanagement and siphoning off the funds by their promoters, who took advantage of regulatory gaps.
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
Regulators and investigators around the world have access to sophisticated tools making it possible to detect white collar crimes. This is where Indian investigators and regulators have been found wanting, says Sudipto Dey.
Providing services like broadband connectivity, cable TV, enterprise solutions, and payment wallets is the need of the hour for telcos, and a second wave of consolidation is upon the industry, a rating agency said on Tuesday. India Ratings and Research said the sector, which was battered following the aggressive entry of Reliance Jio, will continue showing signs of recovery amid conducive regulatory environment and maintained a "stable" outlook for the industry in FY22. The second round of consolidation (Consolidation 2.0) is kicking-in in the industry, which will bring a transformation in the business models of telecom companies, leading to the evolution of incumbents from the providers of traditional voice-only services to complete digital solutions for households, it said.
The report concluded that she failed to discharge her fiduciary functions to rescue herself to avoid any conflict of interest.
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