The Supreme Court on Wednesday asked the Jalan-Kalrock consortium, the new owners of cash-strapped Jet Airways, how much have they paid towards dues on account of provident fund and gratuity to the former employees of the troubled airline. The top court made the query while commencing the hearing on a batch of petitions, including the one filed by the Jet Aircraft Maintenance Engineers Welfare Association, against the October 21, 2022 order of the insolvency appellate tribunal NCLAT.
For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates.
Glenn Maxwell battled cramps to produce an innings of a lifetime to guide Australia to a three-wicket win over Afghanistan.
Australia's physiotherapist Nick Jones's advise got a "dead man" stand on his feet. The result was an epic World Cup knock that will be talked about for a long time to come.
RBI Governor Shaktikanta Das on Friday called upon G20 nations to resolutely address the challenges, like threats to financial stability and debt distress that confront the global economy. Addressing the inaugural session of the meeting of G20 finance ministers and central bank governors, Das said although the outlook for the global economy has improved in recent months and there is now greater optimism that the world may avoid a deep recession and only experience slow growth or softer recession,"yet uncertainties lie ahead of us." "Together we must resolutely address the challenges that confront us, including those that are of medium to long-term nature such as threat to financial stability, debt distress, climate finance, fractures in global trade and strains on global value chains.
Sun Pharmaceutical Industries Ltd on Thursday said its Halol facility in Gujarat has been listed under import alert by the USFDA with products manufactured at the unit now are subject to refusal of admission in the US market. The development follows an inspection of the facility by the US Food and Drug Administration (USFDA) from April 26 to May 9, 2022. "We now wish to inform you that the company has received a communication from the USFDA stating that the facility has been listed under Import Alert," Sun Pharma said in a regulatory filing.
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
India, the world's third-largest energy consumer, will see its energy needs doubling by the end of this decade as it witnesses an unprecedented explosion of economic growth, the nation's richest man Mukesh Ambani said on Saturday. Speaking at the convocation of Pandit Deendayal Energy University (PDEU), Ambani, who heads the nation's most valuable company Reliance Industries Ltd, said the Indian economy will become a $40 trillion economy by 2047 from the current $3.5 trillion. "And to fuel this growth, the country will need enormous amounts of energy - clean, green energy that won't choke mother nature for the sake of human progress," he said.
'These are people whom very few give importance and they were doing a mammoth job for the nation.'
'We have interesting leads on the agents. The roles of agents in this entire operation, who were doing what.'
Competition Commission of India (CCI) has issued a show cause notice to the parties with respect to the proposed merger of Tata Group airlines Vistara and Air India, according to a source. The fair trade watchdog issues notice asking why an investigation should not be initiated only after forming a prima-facie opinion that the deal could adversely impact competition in the marketplace. Vistara and Air India are the two full-service carriers that are part of the Tata Group, and Singapore Airlines holds a 49 per cent stake in Vistara.
There is no association between the Covid-19 vaccines used in India -- Covishield and Covaxin -- and increase in the risk of heart attacks, according to an observational study which emphasises the protective effect of the jabs.
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
Former England captain Michael Vaughan rated Australia's World Cup triumph as the best in the tournament's history after they upstaged a rampaging India in front of a vociferous crowd.
An FIR was launched against some unidentified persons for cheating the SII for more than Rs 1 crore, said the officials on Sunday.
A look at 7 memorable moments of World Cup 2023.
RBI Governor Shaktikanta Das on Friday said the government and the central bank are in discussion with South Asian countries to have cross-border trade in rupee. He also said the central bank digital currency (CBDC) is in trial phase and the RBI is moving very carefully and cautiously on digital rupee launch. After the successful launch of the wholesale pilot, the Reserve Bank of India (RBI) on December 1, last year, began its retail CBDC pilot project.
India will need to be ruthless and tactful in equal measure while dealing with an unpredictable England when the third chapter of a riveting Test series begins in Rajkot on Thursday.
They have looked more comfortable setting targets than chasing one though, and they will expect more penetration from their bowlers against a resurgent Australia.
38 auditors resigned in 2022-23, compared with 46 the previous year.
A total of 33 teams have been earmarked by the National Disaster Response Force (NDRF) to undertake relief and rescue operations in Gujarat and Maharashtra ahead of the expected landfall of cyclone 'Biparjoy' near the Jakhau port in Kutch district, officials said on Wednesday.
South Africa and Australia are set to meet in a semi-final on Thursday. The Proteas thrashed the Aussies by 134 runs in the league stage match last month.
Pat Cummins and Co. stormed into the semi-finals on the back of one of the greatest ODI innings played by Glenn Maxwell. The all-rounder battled cramps to smash an unbeaten 201 off 128 balls to lift Australia from a precarious 91 for seven to the victory target of 292 against Afghanistan.
It's mid-morning and the two-kilometre stretch from Rashbehari Avenue to Gariahat Market is bustling with activity. Dotted with saree shops and hawker stalls that sell everything, from hairpins, hangers and towels to hosiery, mobile phone covers and kurtas, this is one of South Kolkata's busiest shopping areas. And it is beginning to wake up to the Paytm crisis.
South Africa will look to fix their chasing troubles before the semifinals while Afghanistan will back themselves to beat another top team
Can England return home winning the first series on this tour?
Lenders of debt-ridden Reliance Capital have voted in favour of a resolution plan submitted by Hinduja Group firm IndusInd International Holdings Ltd (IIHL) which made the highest cash offer of Rs 9,661 crore in the second round of bidding. As much as 99 per cent votes were in favour of IIHL as lenders expected to recover cash upfront of Rs 9,661 crore from the Hinduja Group entity, sources said. Besides, sources said cash balance with Reliance Capital (RCAP) of over Rs 500 crore would also go to lenders. So, in all lenders are expected to receive about Rs 10,200 crore for distribution as against Rs 16,000 crore principal secured debt, resulting in 65 per cent recovery for the lenders, sources said.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
Pakistan expected to give all in must-win World Cup clash against Bangladesh
'From data on enquiries, we can build what we call a data lake or a data warehouse where data is classified into various cohorts and then we use AI and ML tools to predict demand down the line.'
Following England's 28-run win over India in the first Test match at the Rajiv Gandhi International Stadium in Hyderabad on Sunday, former cricketer Monty Panesar said that Rohit Sharma was 'clueless.'
Fresh from posting 399 in their previous game, South Africa batting was on fire yet again at the cost of Bangladesh who endured a 149-run rout.
With pacer Mohammed Shami in menacing form, India holds the edge in the bowling department against Australia, reckons batting great Gundappa Viswanath, who wants skipper Rohit Sharma to convert his aggressive starts to a big hundred in the World Cup final.
Only if we could have a Rohit versus Ashwin clash in the semis! What a perfect fill-up it would be for the resurgence of the Ranji Trophy.
Heinrich Klaasen, who smashed a 67-ball 109 in the victory over England, South Africa have made a strong statement ahead of fixtures against New Zealand and India in the ICC World Cup.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
Ten years back, 10 Lashkar-e-Taiba terrorists sailed into Mumbai from Karachi and carried out coordinated attacks that lasted three days. The terrorists carried out bomb explosions and holding innocents hostage as a fight back by security forces continued for the next 60 hours. Taj Mahal Palace hotel, Chhatrapati Shivaji Terminus railway station, Leopold Cafe were targetted in the attack that made headlines across the world.
'Baseball/softball, cricket (T20), flag football, lacrosse (sixes) and squash will be in the programme at LA28.'
The Reserve Bank on Monday said it has imposed penalties of about Rs 1 crore each on Kotak Mahindra Bank and IndusInd Bank for deficiencies in regulatory compliance. Besides, the RBI has also imposed penalties on four co-operative banks. A penalty of Rs 1.05 crore has been imposed on Kotak Mahindra Bank for contravention of certain norms related to 'The Depositor Education and Awareness Fund Scheme, 2014' and for non-compliance with the directions on 'Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions', and 'Loans and Advances - Statutory and Other Restrictions', the banking regulator said.
Aviation watchdog DGCA will conduct a special audit of grounded airline Go First's facilities in the national capital and Mumbai from July 4 to 6 before approving the revival plan for resumption of flights, according to a senior official. Cash-strapped Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process. Meanwhile, a senior executive at the airline expressed hope of resuming ticket sales -- which was paused by DGCA following the grounding of the carrier -- from July 7 or July 8 and subsequent relaunch of the operations from middle of next month.
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