In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Currently, most crowdfunding platforms neither operate with proper authorisation nor are governed under any law.
The Ministry of External Affairs said on Tuesday the Charge d'Affaires of Pakistan High Commission was summoned and informed about the decision which was based on instances of involvement of Pakistani officials in 'acts of espionage' and 'dealings with terrorist organisations'.
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
The shutdown was the longest in recent memory, and prompted US Securities and Exchange Commission Chair Mary Jo White to call for a meeting of Wall Street leaders to help insure the 'continuous and orderly' functioning of securities markets.
The government was also faced with problems on its balance of payments. It took steps to conserve declining foreign exchange reserves, and began to regulate the production, supply and distribution of gold. It banned forward trading in the yellow metal in November 1962, and introduced gold bonds as well, reveals the RBI's annual report for the year ending June 1963.
Sebi pointed out instances of misleading the investors by reporting incorrect data on investor complaints, instances of inappropriate utilisation of funds meant for investor education, such as spending on programmes meant for financial advisors, charging of expenses to the said funds for stationery items such as notebooks, planners and calendars, and charging of expenses without adequate records.
The bench noted that "conflicting versions about the incident demands an inquiry to uncover the true facts".
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
Controversial Pakistani-American businessman Mansoor Ijaz, a key figure in the raging memo row, on Monday sought time till January 25 to come before a judicial commission investigating the scandal, citing security threats.
Summary of sports events and persons who made news on Friday
The US-based firm has marked down the value of Flipkart for the sixth time, the latest at a time when it has been struggling to raise funds at a valuation higher than or equal to $15.2 billion.
The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.
The Securities and Exchange Board of India's (Sebi's) planned research analyst regulations will also apply to proxy advisory services which provide advice on corporate governance and issue voting recommendations to institutional shareholders regarding company resolutions.
The S A Dave-headed mutual fund advisory committee has recommended to the Securities and Exchange Board of India that mutual fund investors pay the commission to distributors directly. Accordingly, mutual fund investors will have to give separate cheques to distributors as commission if Sebi approves this recommendation.
Apollo had made efforts to acquire Cooper Tire at the end of 2012.
The APG released its much-awaited 228-page 'Mutual Evaluation Report' on Saturday, 10 days ahead of the key Financial Action Task Force's plenary meeting which will give its decision on Pakistan's 'grey list' status.
A bench of Justices S K Kaul and M M Sundresh referred to the affidavit filed by the CBI Director in pursuance to the top court's earlier direction asking to apprise it about the steps to be taken to strengthen their prosecution unit, the bottlenecks, and also about conviction rate in matters probed by the agency.
Mohnish Pabrai whose company handles funds to the tune of $464 mn spoke at length about his investment decisions in Mumbai
Nearly two years after the bifurcation of Jammu and Kashmir into two UTs and revocation of its special status, Prime Minister Narendra Modi on Thursday held talks with top political leaders from the erstwhile state, and said the Centre's priority is to strengthen grassroots democracy there for which delimitation has to happen quickly so that polls can be held.
From today, you will be able to buy and redeem open-ended mutual fund schemes on the National Stock Exchange through your stockbroker. The Bombay Stock Exchange too will follow suit soon.
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
The FT report said the existence, size and investments of the highly profitable internal trading fund, which was set up three decades ago, have until now remained largely unknown outside a circle of former and current insiders.
Here's why consumers are shifting to large brands.
In a filing with the US Securities and Exchange Commission on Monday, Microsoft said Nadella will get a total compensation of $84.30 million for the fiscal year ended June 2014, significantly up from the $7.66 million he received in 2013.
Currently placed on the FATF'S 'grey list', Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations by the FATF.
In conversation with Deepsekhar Choudhury and Neha Alawadhi, Sharma speaks about his journey and the road ahead.
Murthy's letter comes even as Sikka celebrates the completion of three years at the helm of India's second largest software exporter.
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
Gupta's lawyer Seth Waxman argued his case during a hearing before a three-judge panel of the 2nd US Circuit Court of Appeals in New York on Monday.
Sanjeet Kumar won a gold medal in the 91 kg weight category at the Asian Boxing Championships.
Bribe for Goa project estimated at $976,630
Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its chairman and managing director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore. The case pertains to sale and purchase of RPL shares in the cash and the futures segments in November 2007.
H-1B workers have minimal skills, says Infosys whistleblower
Days after the Supreme Court observed that the 'success rate' in cases taken up by the Central Bureau of Investigation is perceived low, the agency has informed it that it has achieved the conviction rate of about 65-70 per cent, and would try to raise it to 75 per cent by August 2022.
The Sebi Act deals with securities and the definition of securities, according to the Securities Contracts Act, doesn't include commodities.
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
Such brokers connect buyers to sellers, taking a commission on the deal.
