A group of 91 retired bureaucrats has appealed to the Centre to withdraw the Green Credits programme, which they claimed may facilitate diversion of forest land to private entities. "Quick, smooth and easy diversion of our forest lands in favour of user agencies is apparently the sole intention of this set of Green Credits rules. "We urge the MOEFCC to recognise this danger and withdraw the Green Credits notification expeditiously," the group of former civil servants wrote in an open letter to the Ministry of Environment, Forest and Climate Change (MoEFCC).
The company did not disclose its new holding pattern.
Social stock exchange (SSE) saw its first listing on Wednesday, with SGBS Unnati Foundation becoming the first entity to take this route to avail financing. The foundation - engaged in vocational training of youth - raised Rs 1.8 crore from four investors. These include brokerage firm Zerodha and National Bank for Agriculture and Rural Development (Nabard).
Many feel that the money from their MPLADS should go directly to a district hospital in their respective constituencies rather than a central fund like PM CARES. Archis Mohan reports.
As the government plans no further extension of the scheme beyond FY24, the task is to achieve the unfinished target of subsidising 914,707 EVs.
Analysts assert that Vedanta Group's plan to demerge India-listed Vedanta Limited into six listed entities will not resolve the debt problem of its promoter entity, Vedanta Resources (VRL). They suggest that additional asset sales or stake sales by promoters will be necessary to repay the debt. Vedanta is already considering the divestment of its iron-steel division and its copper plant.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Do you have financial planning queries? Ask rediffGURU Abhishek Dev.
Researchers from the Indian Institute of Technology-Palakkad (IIT-Palakkad) have introduced a pioneering method of generating renewable energy from human urine.
A bench headed by Justice Ashok Bhushan and comprising justices R S Reddy and M R Shah said that voluntary contribution can always be made to the NDRF as there is no statutory bar under the Disaster Management Act.
It is a good option for parents of girl children who want a debt product and do not mind its low liquidity.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
Railways has pledged Rs 100 crore (Rs 1 billion) for the Games and a memorandum of understanding is expected to be signed between the public sector unit behemoth and the organising committee shortly.
While managing rising EMIs can be challenging, the right strategy can help individuals can ease their financial burden, says rediffGURU and financial planning expert, Colonel Sanjeev Govila (retd).
The federal agency filed its prosecution complaint against Ayyub before a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad (Uttar Pradesh) on October 12.
Soumya Dalimya (17), a Class 12 student, Presha Bhattad (15), a student of Class 10, and Ditya Thapar, who is in Class 8, utilised the lockdown time to make 44 paintings. They have so far raised Rs 84,000 through the sale of their art works.
The AITUC has suggested utilisation of the entire corpus for creation of the infrastructure development fund. Do you agree?
Terming Aap Aadmi Party government's maiden budget for the financial year 2015-16 as India's first 'Swaraj Budget', Finance Minister Manish Sisodia proposed to create a provision of Rs 253 crore under the Swaraj Fund Scheme.
Trade and Development Report 2007 prepared by Heiner Flassbeck said that commodities have created lots of opportunities globally, but developing countries will be left if they do not utilise the funds diligently.
ffIn an hour-long chat on on rediff.com on Friday, MCX-Zee Business award winning Mutual Fund expert, Ashok Kumar offered some tips on mutual funds.
Cash-strapped edtech firm Byju's' parent company said on Monday it will raise $200 million by way of a rights issue to all its equity shareholders, aiming to support growth and achieve operational sustainability. The proposed rights issuance by Think and Learn Private Limited (TLPL) will fund capital expenditure and support general corporate purposes. As the largest shareholders, the founders of Byju's have personally invested more than $1.1 billion in the company in the last 18 months.
UltraTech Cement's third quarter of financial year 2023-24 (Q3FY24) performance saw a combination of 6 per cent year-on-year (Y-o-Y) volume growth and 8 per cent revenue growth coupled with better realisations per tonne. The earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at Rs 3,250 crore and Ebitda per tonne was Rs 1,191. Profit after tax (PAT) was reported at Rs 1,780 crore. Other income dipped and interest costs rose.
In a major decision, the RBI on Friday announced that UPI payment limit to hospitals and educational institutions will be raised to Rs 5 lakh from Rs 1 lakh at present and hiked the cap for e-mandates for recurring payments to Rs 1 lakh. Unveiling the December bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said the limit for various categories of Unified Payments Interface (UPI) transactions has been reviewed from time to time. "It is now proposed to enhance the UPI transaction limit for payment to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction," he said.
The order said the NGO has transferred an amount of Rs 2.46 lakh from its foreign contribution designated account to Sabrang Trust domestic account, thus mixing of domestic and foreign funds and violating the rules.
A cocktail of heatwave and upcoming cricketing events is expected to usher in the peak season for the country's largest beer maker, United Breweries. The beer maker, which has gained share in some key markets, will be a major beneficiary as April to July is an important period contributing to 40-45 per cent of its annual beer volumes. Going ahead, the T20 Cricket World Cup in June and the ongoing IPL will have a positive impact on volumes and should be able to offset the negative impact of elections on sales, experts believe.
This has affected all political activity of the party, Maken said at a press conference.
Even as the government debates whether to continue the FAME-II subsidy for electric vehicles (EVs), the share of such vehicles in overall sales is decelerating, after witnessing a heady growth in the first few years. The penetration of EVs - electric two-wheelers, passenger vehicles, three- wheelers and other segments collectively - in the first 10 months of FY24 has been pegged at 4.3 per cent, compared to 3.7 per cent in FY23, according to credit rating agency ICRA.
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
Through Manorathangal, M T Vasudevan Nair makes himself available to a whole new generation of uninitiated viewers, who can familiarise themselves with his rich body of work and hope to learn a thing or two about life in all its messy grandeur and flawed imperfections, notes Arjun Menon.
Under the plan being worked out, the labour component of the railway projects, which include the expansion of train lines or conversion of line gauge, would be funded from NREGS, as most of these projects require a large labour force and generate employment opportunities in rural areas.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The government has decided to hold off introducing the production-linked incentive (PLI) scheme for additional sectors until it verifies the efficacy of existing initiatives. Top government officials have received mixed feedback on the scheme, including insights from the Economic Advisory Council to the Prime Minister, people aware of the matter said. "There are no new PLI schemes in the offing.
The Finance Ministry has asked cash-rich public sector companies (PSUs) to utilise surpluses for expansion and overseas acquisitions, a move that will promote investments and growth.
Cricket icon Sachin Tendulkar, whose term as Rajya Sabha MP ended recently, has donated his entire salary and allowances to the Prime Minister's Relief Fund.
The Centre on Tuesday assured flood-ravaged Karnataka and Andhra Pradesh that funds will not be a constraint for relief and rehabilitation and asked them to focus on providing succour to the affected people.
Sukanta Majumdar, the state BJP president, said, "Amit Shah has set a target of 35 seats. We will achieve that".
The government on Friday modified FDI policy allowing unlisted companies to directly list on stock exchanges abroad to raise funds for acquisitions or retiring overseas debts, a move which may help India in containing high current account deficit.
The Securities and Exchange Board of India (Sebi) has proposed that at least 10 per cent of corporate bond market trades by foreign portfolio investors (FPIs) should be done on the request for quote (RFQ) platform. At present, most trades in the corporate bond market are over-the-counter (OTC), creating a lot of opacity. The markets regulator has been nudging debt market participants such as mutual funds (MFs), alternative investment funds (AIFs) and brokers to use the RFQ platform to boost secondary market liquidity and transparency.
