The Securities and Exchange Board of India's (Sebi's) investigation into the Hindenburg allegations is making slow progress when it comes to obtaining information from overseas regulators, particularly around ultimate beneficial ownerships of certain foreign portfolio investors (FPIs), said people in the know. "Establishing ultimate beneficial ownerships for FPIs is a very complex exercise. "Several jurisdictions allow omnibus structures where the end beneficiaries are not required to be captured or are based in some other geographies.
The CBI had sought the sanction of the government to prosecute the international human rights organisation because of mandatory clause of Section 40 of the FCRA.
Russia has almost completed the delivery of major components of the second regiment of the weapon systems.
The Reserve Bank on Wednesday barred Mastercard Asia Pacific from onboarding new credit, debit and prepaid card customers with effect from July 22 as it failed to comply with data storage norms. The supervisory action will not impact existing customers of Mastercard, the Reserve Bank of India (RBI) said. Taking action against Mastercard, RBI said, "notwithstanding lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on Storage of Payment System Data".
Jim Thorpe will now go down as the sole winner of the decathlon and pentathlon at the 1912 Stockholm Games, 110 years after the American was stripped of his medals for infringing amateur rules at the time.
The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.
Foreign direct investment into the country is expected to rebound in the coming months on account of India's high economic growth, and steps to further improve the business environment of India, the Economic Survey said on Tuesday. The rise in global uncertainty in the wake of the Russia-Ukraine conflict, FDI equity inflows in the manufacturing sector in the first half of the current fiscal (April-September) fell below its corresponding level in the first half of 2021-22, the document, which was tabled in Parliament, said. The monetary tightening at the global level has further restricted the FDI equity inflows, the survey said.
The NHRC said it has taken suo motu cognisance of the issues related to the cremation and undignified treatment of dead bodies as raised by Jitendra Singh Shunty, a member of its Core Group of Human Rights Defenders.
If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c, suggests Bindisha Sarang.
Lenders of debt-ridden Jet Airways on Tuesday filed an appeal in the National Company Law Appellate Tribunal (NCLAT) against implementation of the resolution plan by the Jalan-Kalrock consortium, according to sources. The sources said the lenders have maintained that the condition precedent mentioned in the resolution plan of the consortium has not been met. And therefore, the plan is not valid. "The lenders want the plan to be circled back to the committee of creditors (CoC) for fresh consideration," the sources said.
Former FIFA president Sepp Blatter and ex-UEFA president Michel Platini have been charged with fraud over unlawfully arranging a payment of two million Swiss francs ($2.19 million).
As India and the United States are set to begin negotiations on two transformational deals -- Security of Supply Arrangement (SOSA) and Reciprocal Defence Procurement Agreement (RDP) -- the Pentagon has said that the defence industries of the two nations will come together once the negotiations conclude.
Khan was convicted in the Toshakhana case which was filed last year on the complaint of the Election Commission of Pakistan (ECP) which had earlier disqualified him in the same case.
'Non-par plans returns are not market-linked. Hence, they can offer guaranteed returns.'
Sri Lanka on Tuesday deployed military personnel at State-run petrol pumps to monitor and manage fuel distribution amidst a shortage that led to serpentine queues of consumers outside filling stations.
Donald Trump has been indicted by a Manhattan grand jury on charges related to paying off a porn star during his 2016 presidential campaign, making him the first former US president to face a criminal charge and upending his bid to retake the White House in 2024.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
India's external debt rose by 8.2 per cent year-on-year to $620.7 billion as of March 2022, which according to the finance ministry is sustainable. While 53.2 per cent of it was denominated in the US dollar, Indian rupee-denominated debt, estimated at 31.2 per cent, was the second largest, as per the status report on India's external debt released by the ministry. "India's external debt continues to be sustainable and prudently managed. As of end-March 2022, it stood at $620.7 billion, growing by 8.2 per cent over the level a year ago.
A statement from the finance ministry said, 'it shall be the policy of the Sri Lankan government to suspend normal debt servicing...shall apply to amounts of affected debts outstanding on April 12, 2022'.
Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
Shubman Gill and Suryakumar Yadav may get promotion in the annual central contracts list for the 2022-23 season.
'It is Dhoni, Fleming and the support staff who decide on cricket.' 'The fans expect CSK to do well, and with Dhoni at the helm, CSK is capable of it.'
Ahead of the second instalment of advance tax, the revenue department is scrutinising entities that have registered negative growth in their tax deducted at source (TDS) payments, even when they reported healthy advance tax payments. According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65 small to mid-sized companies. Officials said it is unusual for TDS to not increase, given the improved turnover and profits - if higher advance tax payments are any indication.
A video apparently shot by one of the five Indian passengers on board the aircraft that plunged into a gorge in Pokhara on Sunday captures the horrific moments of the crash that killed 72 people.
A report in the UK's Telegraph newspaper quoted an official from the Federation of International Cricketers Association (FICA) as saying that the BCCI is yet to disburse the runner-up prize money of the global event, which was held in February-March last year.
Defence Minister Rajnath Singh on Monday said swift and transparent decision-making and availability of optimal resources were needed for a country's combat readiness.
Fintech and venture capital firms such as Recur Club, Razorpay and Trifecta Capital have come to the aid of homegrown start-ups caught in the crossfire of the Silicon Valley Bank fiasco. Alternative funding platform Recur Club said it was allocating $15 million to all Indian founders affected by the crisis. It will not charge any platform fee for the same.
Prosus-backed fintech firm PayU is set to acquire India's earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India's digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa. The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV).
The rising dependence on discounted crude oil has resulted in India's trade deficit with Russia hitting the second-highest place last year, after China, reveals Department of Commerce data. From April through January 2022-23 (FY23), India's maximum trade deficit was with China, at $71.58 billion. This was followed by Russia, where the deficit expanded sevenfold - from $4.86 billion in April-January of 2021-22 (FY22) to $34.79 billion during the same period in FY23.
While expressing his gratitude and love for every individual who has ever worked for Twitter, he added that he did not anticipate that sentiment to ever be reciprocated.
The middle class is a big force to fulfil dreams of a prosperous and developed India and our government has taken many decisions to empower it, the prime minister said.
Tata group-owned Air India plans to hire expat pilots for its Boeing 777 planes as the airline is facing a shortage of pilots amid plans to expand its fleet as well as international operations, according to sources. The carrier is looking to rope in around 100 pilots for the wide-body Boeing 777 fleet and has approached various agencies that provide expat flight crew to airlines, the sources told PTI. The loss-making Air India, which was under government ownership for nearly seven decades till the Tata group took over in January 2022, had stopped hiring expat pilots many years ago to save costs.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
200 staffers, consisting of RBI officials and support teams, who are essential to perform critical functions, were isolated at a separate facility in a dedicated quarantined environment near all three RBI data centres.
The government is considering to bring all international payment gateways like Visa and MasterCard under the ambit of law, whereby they would have to report suspicious transactions to the security agencies.
'We should look at is full year's growth rather than quarter numbers.'
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
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