The development comes after the shareholders of Ambadi Investments, the holding company of the Rs 38,100-crore Murugappa Group, voted against the induction of 59-year-old Valli Arunachalam, the eldest daughter of former executive chairman M V Murugappan, into its board.
If the data breach is found to be genuine, and if the company is found guilty on the grounds of dereliction of duty, or misleading the general public and the RBI about the data breach, actions taken against it will be severe, the person quoted above said.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
'I was shocked by the kidnapping episode. I could have lost my life.'
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
Paytm has, since November 8, been on an overdrive, rolling out a series of features on its app including multi-language options for a no-holds barred access across the country. The company is now planning to make Paytm available on all types of mobile phones, going much beyond smartphones.
While he has plenty of critics at home, Rajan is a favourite among foreign investors and has been credited for bringing inflation under control.
Prime Minister Modi felt there were too many silos with no arrangement to take a comprehensive view on national security. The PM has entrusted NSA Ajit Doval to evolve a comprehensive roadmap and get it implemented, reveals Nitin Gokhale, Editor-in-Chief, Strategic News International.
The government has made it much harder for tycoons to get special dispensations from Delhi
"We want a drop in interest rate. This (interest rate) is a huge problem now for us. Real interest rate in India today is touching six percent," Ficci chief Pankaj Patel said, arguing that there should be balance between growth, inflation, and interest rates.
Ola Electric's technology team is working hard to iron out the technical kinks that marred the electric vehicle company's hyped online sale of its electric scooters (e-scooters) - the S1 and the S1 Pro - on Wednesday, said company sources. The SoftBank-backed firm is facing technical difficulties in making the website live for the purchase of its e-scooters. According to company sources, the website couldn't go live as there were integration issues.
India is unlikely to take any bold move to improve its ties with Pakistan before the next year's general election, a top American intelligence official said on Wednesday.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
Suggesting steps to boost the Indian economy, the IMF chief further said the government should focus on fiscal consolidation.
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
A glance back at some of the important ups and down Indian Inc faced in 2018.
The company has battled opposition from green groups since starting work on the project five years ago
The members resolved to foster a global economic governance architecture that is more effective and reflective of current global economic landscape
'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
Domestic investors have managed very well to minimise the impact caused by relentless selling by foreign portfolio investors.
If not for Palaniswami, it is hard to guess if the AIADMK would have been able to garner 33.3 per cent vote share as against the DMK's 37.7 per cent. AIADMK won 66 seats, its allies Pattali Makkal Katchi and Bharatiya Janata Party five and four seats respectively and proved yet again that the western region was its fortress.
The PM said there was a need to tackle the problem of terrorism in an organised manner.
Prime Minister Narendra Modi's three-day visit to Britain has seen India and the UK agreeing on Rs 90,000 crore deals.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
Amid imminent phasing out of the fiscal stimulus by US Federal Reserve, Prime Minister Manmohan Singh on Wednesday called for an "orderly exit" from unconventional monetary policies being pursued by the developed world for the last few years to avoid damaging growth prospects of the developing world.
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
The assumption clearly was that project execution timelines would be adhered to and revenues would flow in as scheduled.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
Rahul attacked Modi and BJP, alleging that 'politics of divide and polarisation is radicalising people in India'.
'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
As it is a highly liquid asset, central banks can afford to look past its short-term volatility to longer-run average returns.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
The Paris-headquartered FATF said Pakistan should continue to work on implementing its action plan to address its strategic deficiencies
While Vodafone will hold 45.1% of the shares in the new entity, to be renamed at a later stage, Kumar Mangalam Birla and other promoters of Idea group will hold 26%. Vodafone India will also transfer 4.9% of its shareholding to Idea's promoters for a cash consideration of Rs 38.74 lakh crores.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances