A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
The telecom ministry will set up an intelligence unit and a consumer protection system as part of continuing efforts to tackle the menace of pesky calls as well as to take strict action against financial frauds perpetrated using telecom resources.
Three entities are at the centre of this controversy: The Brazilian government, Bharat Biotech and a Singapore-based company called Madison Biotech.
Interchange fee is the amount charged by ATM operators for every transaction.
The Reserve Bank has asked troubled digital wallet firm MobiKwik, which is facing data breach allegations, to get a forensic audit done without any delay. Though the Gurugram-based firm has been claiming that its systems are secure and that there is no basis to the allegations of data breach, a group of hackers on Tuesday said that they accessed personal and financial data of nearly 10 crore MobiKwik customers. On Wednesday, sources in the know of the development told PTI that the RBI has ordered an immediate forensic audit of the company's systems by a certified auditor. When contacted, an RBI spokesperson refused to comment. MobiKwik refused to give a direct answer to a query on whether the RBI has ordered a forensic audit.
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
Sebi announced a four-stage penalty structure wherein fines increase with the passage of time.
Going by the provisions of the new company law, the responsibility and accountability equation for independent directors has seen a major change.
Although players have been allowed to start individual training, Italian Sports Minister Vincenzo Spadafora said it is too early to talk about the resumption of football season.
The new rules are aimed at providing a strong impetus to the industry and positioning India as one of the most competitive IT jurisdictions in the world.
Revealing that 70 per cent of incidents involving airplanes are due to pilot error and most are due to non-compliance of procedures which are "avoidable", Kanu Gohain, director general of DGCA, said the aviation regulatory body has stepped up measures to ensure strict compliance of operational procedures.
It may be a 'no-go' for banking licences to large industrial houses.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
The SECP notification further warned that non-compliance with the said ruling could result in a hefty monetary fine.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
India doesn't have a data protection law or a dedicated law on cybersecurity. Also, there is no specialised law on privacy. Experts say this complicates the scenario for businesses as they continue to be liable for breach in client data even when employees work out of the home.
Industry must take strong collective action to protect the reputation it enjoys in global markets, says Kiran Mazumdar Shaw.
FinMin finally sacked executive directors K V Brahmaji Rao and Sanjiv Sharan on January 18. The bank's board, however, had felt they had no criminal intent and it was a case of 'casual oversight'
Theft, bribery and corruption, and regulatory non-compliance are the top three frauds
New risks have been identified, which include risk of non-compliance, business investment risk and legal regulatory risk.
The recent spate of technical glitches in aircraft has prompted the Directorate General of Civil Aviation (DGCA) to issue an order on July 18, making aircraft maintenance engineers (AMEs) with category B1/B2 licences the final authorities in certifying planes. This has put the spotlight on the availability of such personnel. According to the order, airlines were resorting to frequent one-off authorisation by the Category A certifying staff at transit stations, which is not in line with existing regulatory provisions.
The minister observed it took years to get permissions to start a project.
The FDA has been tightening its monitoring of Indian pharma majors over compliance issues. Surprise plant inspections and import alerts have been frequent outcomes
Regulators and investigators around the world have access to sophisticated tools making it possible to detect white collar crimes. This is where Indian investigators and regulators have been found wanting, says Sudipto Dey.
India is capable of developing GM crops, Randy Hautea, global coordinator for International Service for the Acquisition of Agri-Biotech Applications, tells Kanika Datta.
To enhance transparency in unit-linked insurance products and protect the interest of policyholders, the Insurance Regulatory and Development Authority has asked life insurers to disclose the underlying conditions and elements while advertising products.
Sebi pointed out instances of misleading the investors by reporting incorrect data on investor complaints, instances of inappropriate utilisation of funds meant for investor education, such as spending on programmes meant for financial advisors, charging of expenses to the said funds for stationery items such as notebooks, planners and calendars, and charging of expenses without adequate records.
The News Broadcasters Association (NBA) Thursday urged the government to 'exempt and exclude' the traditional television news media and its extended presence on the digital news platforms from the ambit of the IT Rules 2021, saying it is already 'sufficiently regulated' by various statutes, laws, guidelines, codes and regulations.
While hybrids, CNG and biofuels found favour in 2018 among many carmakers including Maruti Suzuki, Mercedes-Benz, Toyota and Honda, others such as M&M and Tata Motors have shown full faith in electric vehicles.
High regulatory expectations and advent of discount broking have made old-style brokerage businesses unviable.
With the demand for lower costs in process driven activities and a move away from the high rate, billable hours of legal services, AI platforms are being used internationally in many legal tasks.
'Under Section 79 of the IT Act, Facebook is mandated to exercise care. Once you have a duty, you do not have the right to silence; you need to show compliance.'
Audi's strategy seems to point to pushing technology to directly connect with consumers using digital platforms and marketing to synchromesh into one seamless experience, says Pavan Lall.
Coming down heavily on banks for not optimally leveraging technology, the Reserve Bank of India (RBI) said there was clear lack of vision among banks in rolling out customer-friendly technology.
