The Enforcement Directorate is conducting searches at some places linked to asset manager Franklin Templeton and its former and current executives as part of a money laundering investigation, officials said on Thursday. The federal agency is looking to gather more evidence as part of its investigation against the company and its promoters under the Prevention of Money Laundering Act (PMLA). Office and residential premises in Mumbai and Chennai are being searched, they said.
The relationship between the US and India has been very productive, in particular on the trade and technology front, and 2023 can be considered the best year historically for bilateral ties, according to a former top American trade official. Arun Kumar, an Indian-American, who served as the assistant secretary of Commerce for Global Markets and director general of the US and Foreign Commercial Service (USFCS) during the Obama administration, said this during an interview with PTI in Washington. "Looking back on 2023, it was a very productive year for the US-India relationship, by many accounts the best year historically," he said.
Vasundhara Raje may have had her faults but she is an unconventional and brave leader who deserves better, observes Aditi Phadnis.
With the kind of money and talent that has gone into making this movie, a really good biopic of a personality like Savarkar could be made. But this film is lost in polemics, as is the case with almost every biopic and period drama today, observes Utkarsh Mishra.
For the last four years since abrogation of Article 370, Kashmir-based political parties have been struggling to forge an alternate narrative to the one forcibly snatched from them. The BJP is bound to go hammer and tongs at them now that their armoury is reinforced with the Supreme Court judgment, notes Mohammad Sayeed Malik, the veteran commentator on Kashmir affairs.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
Describing India as an important member of the Quadrilateral Security Dialogue (the Quad) and a crucial partner for stability in the Indo-Pacific, the letter said that the lawmakers support the deepening strategic partnership between the two countries.
The strategic sale of government and state-owned Life Insurance Corporation (LIC) of India stakes in IDBI Bank might encounter procedural delays, potentially pushing the timeline for expected financial bids to the third quarter of the current financial year (2023-24, or FY24), according to sources familiar with the development. Financial bids constitute the second significant step in the divestment process, following expressions of interest (EoIs) from potential bidders. In this phase, bidders are required to quote transactional fee as a percentage of the divestment proceeds, which are then added to the government's kitty after completion of the transaction.
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
I stumbled upon shares worth around Rs 300,000 in my late father's name, which are currently with the Investor Education & Protection Fund, points out Harsh Roongta.
The Reserve Bank of India's (RBI's) decision on Wednesday to relax restrictions on banks operating in the International Financial Services Centre (IFSC) related to the repatriation of idle funds in foreign currency accounts (FCA) could give a fillip to trading in foreign stocks at the GIFT City.
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
The resolution recognised the contribution of sports in creating an atmosphere of tolerance and understanding among peoples and nations, its role to prevent and counter terrorism and violent extremism and its contributions to building resilience against radicalisation to violence and terrorist recruitment.
Human Development -- a measure of a nation's health, education, and average income -- has declined for two years in a row.
'We are expected to grow at above 28 per cent this year, higher than the industry.'
Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company statement. Quarter-on-quarter, the profit was lower when compared to Rs 17,394 crore earnings in the preceding three months ended September 30.
India is 'deeply concerned' at the deteriorating security situation and astounding loss of civilian lives in the ongoing conflict.
The final was delayed by 36 minutes after thousands of Liverpool supporters were unable to get into the Stade de France for the match
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
'The BJP used Shinde and Shiv Sena to decimate Uddhav Thackeray, humiliate him by taking away his party as well as party symbol.' 'The Shiv Sena and Eknath Shinde have served their purpose.'
If a bank shuts down, every account holder it has will get back their money for a maximum limit of Rs 5 lakh. It was Rs 1 lakh before.
Co-founder of IT major Infosys N R Narayana Murthy and his author wife Sudha Murty cast their ballot for the Karnataka assembly elections on Wednesday and exhorted people to vote.
Bitcoin currently trades at a price of $400 a unit, as against lofty highs of $1,200 early this year
Sam Bahadur is a mechanical summary of his life, ticking off one chapter after another without bothering to pause or ponder over their significance and influences, observes Sukanya Verma.
'Midcap and smallcap indices are trading in the expensive zone.'
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Governments need to proactively plan for attracting and retaining the next generation of talent for its civil services, an official report has said.
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
Congress leader Rahul Gandhi on Sunday embarked on the Bharat Jodo Nyay Yatra from Thoubal in Manipur with a promise to bring peace and harmony in the ethnic violence-hit state.
Foreign portfolio investors (FPIs) are likely to get a reprieve from the Securities and Exchange Board of India (Sebi) in case of a passive or unintended breach of the thresholds that trigger additional disclosure norms. According to sources, FPIs whose single group exposure exceeds 50 per cent of their corpus will get 10 trading days to bring down their exposure below the prescribed level, without triggering the stricter disclosure norms. If total equity exposure of an overseas fund exceeds Rs 25,000 crore and it doesn't wish to provide additional disclosures, it will have three months to pare its exposure.
Trade generic drugs (medicines that are sold directly through distributors) are fast becoming a key segment for domestic pharma firms as volume growth slows in the overall market. Big companies like Cipla and Alkem have a significant presence in the segment but recently, players like Torrent Pharmaceuticals and Dr Reddy's Laboratories (DRL) have also entered this market. What is driving big pharma's focus on trade generics? The volume growth in the Indian Pharma Market (IPM) has come down from 5.6 per cent in FY16 to 0.1 per cent in FY23.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Formula One launch F1 TV in India, target 'strong mobile market'
A total of 415 million people moved out of poverty in India within just 15 years from 2005/2006 to 2019/2021, the United Nations said on Tuesday, highlighting the remarkable achievement by the world's most populous nation.
Rakesh Gangwal's holding is considered FDI even though the majority stake in Caelum is held by NRIs
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the 'pharmacy of the world' looks to move from volume to value leadership, amid emerging challenges of inflation and pricing pressures in the global markets. While R&D investment, market competitiveness, regulatory scrutiny, and domestic price regulations are expected to shape the growth of generics and injectable products, concerns such as price control and customs duties on medical equipment will continue to bother the healthcare industry in 2023. The industry believes that in view of India's G20 Presidency, digital health innovation, achieving universal health coverage, improving healthcare infrastructure and delivery will continue to be the key driving factors in 2023.
