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.
Aircraft manufacturer Embraer has agreed to pay over $205 million (over Rs 1,371 crore) as settlement with American and Brazalian authorities for resolving corruption charges in India and three other countries.
US-based outsourcing firm iGate on Wednesday said its net profit declined 89.6 per cent to $3.1 million for the quarter ended June 30, 2014 hit by a one-time charge related to a debt settlement.
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
The wet market was where a variety of live animals were traded until it was shut down following fears that the coronavirus had jumped to humans either from bats or pangolins.
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.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
At the minimum price of $16.50 a share, the BPO giant would buy back at most 1.82 bn shares, or about eight per cent of its outstanding common shares as of February 28.
US mutual funds Valic Co 1 and Fidelity Rutland Square Trust II, which have minority stake in Flipkart, have marked down the value of their stocks in the company
Facing black money investigations in India and several other countries, global banking giant HSBC on Monday said it is also being probed in the US for hiring candidates related to government officials in Asia Pacific.
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.
Embraer cannot escape Indian laws just because it has struck a settlement with American authorities, Parrikar said.
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
India and China on Tuesday agreed to "jointly deal with security threats" and take measures to strengthen cooperation in combating terrorism during their first dialogue on counter-terrorism and security in Beijing, amid Indo-Pak tensions following the Uri terror attack.
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'.
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.
The regulator has asked portfolio managers not to leverage the portfolio of clients for investment in derivatives and not indulge in speculative transactions that are not accompanied by actual delivery, except for derivatives trades. This is done with the intention of reducing volatility in the market and curbing undue risks.
XTI Aircraft, a Denver, Colorado-based aerospace startup firm, launched an equity crowdfunding campaign.
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.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
In September 2013, FMC was brought under the Finance Ministry.
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
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.
Armed with fresh powers to conduct search and seizure operations and attach properties and bank accounts, the Securities and Exchange Board of India (Sebi) is going all out to use these effectively.
The company has pointed at the possibility of fines and financial penalties.
In conversation with Deepsekhar Choudhury and Neha Alawadhi, Sharma speaks about his journey and the road ahead.
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.
A full panel of the 2nd US Circuit Court of Appeals yesterday denied Gupta's petition for 'panel rehearing, or, in the alternative, for rehearing en banc'.
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.
The bench noted that "conflicting versions about the incident demands an inquiry to uncover the true facts".
Formal warning to Indian unit of deficiencies noted during inspection at facility near Chennai; firm says will remedy
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.
Currently, most crowdfunding platforms neither operate with proper authorisation nor are governed under any law.
Typically, CCI takes decisions related to M&As within 30 days, though it can do so within 210 days of the filing of application.
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.
Let's look at 10 well-known nations that have GDP less than the price Facebook paid for the chat service.
At many places, where the voters had entered booths before 6 pm and were standing in queues, they were allowed to cast their votes.
Every move that strengthens Cyrus Mistry's position in companies like Indian Hotels could prolong the uncertainty.
Sanjeet Kumar won a gold medal in the 91 kg weight category at the Asian Boxing Championships.
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