The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
According to the local Brass Handicrafts Manufacturers Association (BHMA), some 800,000 people are directly employed in Moradabad's massive brass handicrafts and utensils manufacturing industry, which has some 30,000 small and micro-scale units and a total annual turnover of Rs 10,000 crore. The manufacturers are heavily dependent on export markets such as the US, Canada, Australia and the European Union. And exports account for nearly 70 per cent of their revenues. According to industry insiders, since this year's lockdowns, manufacturing has been at 65 per cent of normal levels.
Simple, stylish and sophisticated -- three mantras for perfect work wear!
From real estate to metals, what Sitharaman's Budget has in store.
The onus to explain that the gold jewellery was inherited or bought from known sources of income would be on the owner.
The 30-share Sensex lost 12 points to end at 29,559 and the 50-share Nifty climbed 4 points to close at 8,914.
The figure, mentioned in his affidavit filed along with the nomination papers, is over five times the assets of his parents, which as per MP CM Nath's affidavit stood at over Rs 124 crore.
FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
Jewellers went on strike for three days from March 2.
Kasam Shaikh is the fifth person in India and first from Maharashtra to receive the award for Microsoft Most Valuable Professional title in Artificial Intelligence.
The raids come as Rajasthan is witnessing an intense power tussle between chief minister Ashok Gehlot and his deputy Sachin Pilot.
Mehta's export company is the largest integrated gold player in the world.
Over 300 associations, that consists of over 3 lakh manufacturers, retailers, wholesalers and artisans among others, are participating the nationwide stir.
Jewellers on Monday decided to continue their pan-India strike for an indefinite period against the Budget proposal.
District Judge Marie Mallon said there were substantial grounds to believe that Nirav Modi would fail to surrender if granted bail.
Gold schemes are offering attractive returns to investors.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
The minister asked jewellers not to recover transaction charges for use of debit or credit cards from customers.
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
The ED conducted further searches at 21 locations across India.
The Central Board of Direct Taxes has said the government has not introduced any new provision regarding the chargeability of tax on jewellery.
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
'The mandir-masjid issue led to a lot of blood, pain and anguish on both sides. It scarred this nation.' 'It is time to educate ourselves and move on.'
It further asked the government to make suitable arrangements for smooth functioning of the bank.
RustOrange co-founders Samik Sarkar, Shashank Agnihotri and Kuvalaya Singh share their story and learnings.
When the lockdown was lifted last year, Rasikbhai Kotadiya, who runs a powerloom unit in the Kim-Pipodara industrial area on the outskirts of Surat, was left with only four workers out of the 48 that he used to employ to run his 128 looms. Though the economy had been unlocked, his textile unit, and that of thousands of others, struggled to resume operations. By the last week of May, nearly 700,000 of Surat's 1.2-1.5 million migrant workers, left high and dry with no pay during the lockdown, had returned home. In Laskana, another textile weaving hub in Surat, the powerlooms were all but silent, with only 2,000 of the total 55,000 looms churning out grey cloth at a snail's pace.
'We did not know we would one day dominate nearly 70 per cent of the market.' 'Today, of 100 diamonds available for trade in Antwerp, 93 are cut and polished in India.' A fascinating excerpt from Shantanu Guha Ray's The Diamond Trail: How India Rose To Global Domination.
Since the Union Budget, gold has become costlier by 8-9 per cent because of a 2.5 per cent increase in import duty to 12.5 per cent and about a 5 per cent depreciation in the rupee.
The news of Bengaluru-based IMA cheating thousands once again underlines the need for investors to steer clear of unregulated deposit schemes. The most important sign of a Ponzi scheme is the promise of exorbitant returns and so investors must ask how the promoter expects to earn the kind of return he is promising, says Sanjay Kumar Singh.
Gold is currently ruling at Rs 30,050 per 10 grams.
One reason for the surge in cases is the spread of infection at large weddings. Weddings turned out to be super spreaders.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
The desi fashion influencer posed with breast pumps over her gown to spread awareness about motherhood.
The Congress had on Thursday targeted Modi for the presence of Punjab National Bank fraud accused jewellery designer Nirav Modi in an Indian business delegation at the World Economic Forum in Davos.
Laxmi Sorte and Kaustav Ghosh, who travelled across 29 Indian states and five Union territories in 101 days, recommend a list of lesser known places in India to add to your travel bucket list.
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