IndusInd Bank was the top loser among Sensex stocks, dropping by 4.38 per cent. SBI declined 2.41 per cent, HDFC Bank 1.77 per cent and Axis Bank fell by 1.5 per cent. Among others, auto, FMCG and power stocks also closed in the red.
A penalty of Rs 3 crore has been imposed on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India said on Monday. The RBI has imposed a monetary penalty of Rs 3 crore on ICICI Bank for "contravention of certain directions issued by the RBI contained in Master Circular on 'Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks' dated July 1, 2015", the central bank said in a statement.
The Delhi high court Friday asked Twitter to remove certain objectionable material relating to Hindu Goddess from its platform, observing that the social media giant shall respect sentiments of general public as it was doing business for them.
Amid a row, the Madhya Pradesh government has directed the police to register an FIR against officials of e-commerce giant Amazon and its owner for allegedly selling products, including shoes, with the image of the Indian national flag, Home Minister Narottam Mishra said on Tuesday.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
The government on Saturday issued a notice to Twitter giving it one last chance to 'immediately' comply with the new IT rules and warned that failure to adhere to the norms will lead to the platform losing exemption from liability under the IT Act.
Capital markets regulator Sebi on Wednesday streamlined the payment of processing fee through the Unified Payments Interface (UPI) system for shares applied for and allotted during an initial public offering (IPO). In addition, the regulator has devised a new reporting format for capturing the data of all ASBA (Application Supported by Block Amount) applications unblocked by Self Certified Syndicate Banks (SCSBs) and their corresponding date of actual unblock. The new format has been put in place after reviewing the performance of SCSBs on timely unblocking of application amounts and feedback received from market intermediaries, Sebi said in a circular.
Political parties fielding candidates with criminal cases will have to mandatorily upload on their website details of such persons as also reasons for selecting them to contest the polls, the Election Commission said on Saturday.
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".
The directions came after the Delhi government told the court that oxygen that was to come from Panipat in Haryana was not being allowed to be picked up by the local police there.
After the massive tax evasion of GST by cryptocurrency service provider WazirX, the Directorate General of GST Intelligence has come down heavily on cryptocurrency exchanges operating in the country, said sources. "Around half a dozen offices of cryptocurrency service providers have been searched and massive Goods and Service Tax (GST) evasion has been detected by DGGI," sources told ANI. Crypto wallet and exchange are platforms where merchants and consumers can transact with digital assets like bitcoin, ethereum, ripple, etc.
'Forcing the development of an indigenous vaccine as a cure for COVID-19, bypassing all health & safety norms, to be announced by PM Modi on Independence Day is fraught with horrendous human costs'
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
'No money will go henceforth to any entity which does not comply with the Sports Code'
With this, India joins 60 other countries that collect PNR details of international passengers.
"Ordinary users of WhatsApp have nothing to fear about the new Rules. Its entire objective is to find out who started the message that led to commissioning of specific crimes mentioned in the rules," Prasad added.
A Delhi court on Monday set aside an order seeking explanation from the Delhi Police Commissioner on why legal action should not be taken against him for non-submission of a report in a February 2020 riots case.
Twitter said it will continue to be strictly guided by principles of transparency, a commitment to empowering every voice on the service, and protecting freedom of expression and privacy under the rule of law.
The government will "notify such countries or territories outside India to which a data fiduciary may transfer personal data", according to the draft unveiled on Friday for public feedback.
India head coach Ravi Shastri and his support staff colleagues Bharat Arun and Ramakrishnan Sridhar are likely to leave for India on Wednesday provided they have two negative RT-PCR reports prior to their departure date.
The plea, by a lawyer, stated that the Information Technology Rules came into effect from February 25 and the Centre had given three months to every social media intermediary, including Twitter, to comply with them.
Justice Rekha Palli noted that while the rules mandated appointment of a key managerial person or a senior employee as CCO, Twitter disclosed in its affidavit that it had appointed a 'contingent worker' through a third party contractor.
Under the rules, media companies or their associations have to form self-regulatory bodies which would be headed by a retired judge of the Supreme Court or high courts or an eminent person.
When the Delhi police served him a notice in May for a case involving tagging some political leaders' tweets as carrying manipulated media, a spirited Maheshwari said he was employed by Twitter Communications Private Limited, and not Twitter Inc, and, therefore, could not help them. The authorities were understandably not pleased.
CoA files contempt petition against Praful Patel, pleads to bar him from football-related activities.
CJI Lalit concurred with the minority view of Justice S Ravindra Bhat who held the EWS quota as "unconstitutional" for excluding poor among SCs, STs and OBCs.
Concerned over the inconvenience caused to the public due to the non-availability of cash in ATMs, the Reserve Bank has decided to penalise banks for failure to timely replenish currency notes in such machines. The RBI will start imposing penalty on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards. "The Scheme of Penalty for non-replenishment of ATMs has been formulated to ensure that sufficient cash is available to the public through ATMs," the RBI said in a circular.
Cricket South Africa lodged a formal complaint with the International Cricket Council over Cricket Australia's decision to indefinitely postpone next month's three-match Test series.
India's tweaking of IT rules allow formation of Centre-appointed panels, that will settle often-ignored user grievances against content decision of social media companies, Minister of State for IT Rajeev Chandrasekhar said, adding that this was necessitated due to the "casual" and "tokenism" approach of digital platforms towards user complaints so far.
Overseas investors, as well as other key stakeholders, such as brokers, custodians, and clearing corporations, are yet to iron out critical issues, even as the shift towards a shorter trade settlement cycle approaches new phases. Several industry players said foreign portfolio investors (FPIs) are still facing impediments over the trade confirmation timelines, foreign exchange (forex) bookings, and pre-funding requirements. This could potentially act as a roadblock when it comes to moving entirely to the new T+1 settlement cycle from next year.
A wing of the building, located in Kurla, collapsed around midnight, officials said, adding that its another wing was also likely to crash and was vacated.
Manipur, Uttar Pradesh, Tamil Nadu, Haryana, Maharashtra, Railways, Services and Association of Indian Universities (AIU) will not have any voting rights in case there is an election during the BCCI AGM on October 23.
The poll panel has issued a notice to the railways, asking it to submit a report by Thursday on the slogan on tea cups, so that it can take a call on whether it was a poll code violation.
Voluntary use of masks must be promoted in the country in view of Covid-19's new XE variant, healthcare experts said, calling it the single-most effective intervention against all variants of the coronavirus.
At its meeting held on Friday, the company's board rejected the minority shareholders' demand and termed the requisition as "invalid and illegal". "In its meeting held on 1st October 2021, the board has arrived at a conclusion that the requisition is invalid and illegal; and has accordingly conveyed its inability to convene the Extraordinary General Meeting to Invesco Developing Markets Funds and OFI Global China Fund, LLC," ZEEL said in a statement.
'It is the duty and responsibility of the public officer to proceed responsibly and ascertain the true and correct facts. Execution of law without appropriate acquaintance with legal provisions and comprehensive sense of their application may result in an innocent being prosecuted,' the apex court said.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
While in all, 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges, it is not immediately clear just how much of that has been sought by the government by midnight.
Food safety regulator FSSAI has mandated food business operators to mention FSSAI licence or registration number on cash receipts or purchase invoice with effect from October 1 this year. The Food Safety and Standards Authority of India (FSSAI) has issued a latest order in this regard. Since complaints remain unresolved due to lack of specific information, this move will help consumers who can lodge an online complaint against a particular food business using the FSSAI number, it said.
The government is bound by the assurance given by the then deputy prime minister L K Advani to the Portugal government that the maximum sentence handed out to gangster Abu Salem will not exceed 25 years, the Union home secretary has told the Supreme Court.
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