The government has asked the officials concerned to take all necessary steps to ensure normal supply of electricity in the state.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
The company has been held responsible for the violation of the Drugs and Cosmetic Act, 1940 and the rules framed in 1945.
In a setback to Tata Power, the Supreme Court on Wednesday dismissed the company's challenge to the Maharashtra Electricity Regulatory Commission's (MERC's) decision to award a Rs 7,000-crore transmission project near Mumbai on a nomination basis to Adani Electricity. The court upheld the order by the Appellate Tribunal for Electricity (APTEL) in this case and directed all State Electricity Regulatory Commissions to frame guidelines on tariff determination in accordance with Section 61 of the Electricity Act and the national policy. The verdict has implications for the Mumbai power market, said Ashok Pendse, an energy expert based in the city.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
Maharashtra deputy Chief Minister Devendra Fadnavis, who also holds the energy portfolio, held a meeting with trade union representatives and later said the government had no intention to privatise state-run power utilities.
The Supreme Court on Wednesday refused to interfere with the Delhi government's order putting a comprehensive ban on manufacturing, storage, sale and bursting of firecrackers in the city, saying people's health is important.
Confirming a meeting with the top management of the Adani Group, Life Insurance Corporation Chairman M R Kumar said on Sunday that the interaction had gone well. "There's nothing I can state as of now on the outcome of that meeting. "But yeah, we've had the meeting....we are quite happy about this meeting," Kumar said on the sidelines of the 22nd Global Conference of Actuaries in New Delhi.
The DCGI's approval came following recommendation by the Subject Expert Committee of the Central Drugs Standard Control Organisation.
Hearing an appeal against the market regulator's denial of information sought through Right to Information Act, the Appellate Authority has ruled the process relating to grant of recognition of MCX-SX in 2008 has been completed.
'I want us not to underestimate Indian voters. They can tell good work from bad.'
The Department of Telecom has worked out a one-time spectrum charge of over Rs 2,060 crore to be levied from operators for the period they remained in business after their licences were cancelled in February last year, sources said.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
POSCO officials have said it was unlikely to build the plant without assured supply of iron ore.
Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
The Centre has asked traders and resellers of medical devices to register in an attempt to expand the ambit of regulating the medical devices industry in the country. The move can have far-reaching consequences for both consumers and traders alike as products like face masks or prophylactics - now sold through grocers and other channels - may face issues of availability. In a notification dated September 30, the union ministry of health and family welfare said anyone wanting to sell, stock, exhibit or offer for sale or distribute a medical device, including in-vitro diagnostic medical device, will need a certificate of registration.
There is confusion around the registration guidelines and the cut-off dates for acquiring the degrees.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
It may be a 'no-go' for banking licences to large industrial houses.
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
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.
Legal experts and official sources said the alleged submission of fake documents can also lead to criminal charges against Novartis.
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
The mutual fund (MF) industry has seen a fair number of new entrants in the last 10 years but none of them have proved to be much of a challenge for the larger players. The list of top 20 fund houses, which manage over 90 per cent of the industry's total assets, continues to be dominated by players who have been in the business for more than a decade. Bajaj Finserv MF may change that, say experts.
The Cellular Operators Association of India (COAI) has bluntly told the government there is no reason for its members to roll out 5G networks as they will be unviable if 'captive private wireless networks' are allowed to be run by enterprises. The COAI, which has Bharti Airtel, Reliance Jio and Vodafone Idea as its key members, has written to Communications Minister Ashwini Vaishnaw saying there is 'no business case for the roll out of 5G networks'. Permitting such captive networks will 'diminish the revenue so much that there will be no viable business case left for the telecom service providers and there will not remain any need for 5G network roll out by telecom service providers (TSPs)'.
Mutual funds aspirants have the option of snapping up smaller AMCs or applying for a new licence.
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Analysts expect the iPhone 6 and 6 Plus to sell well in China, where many people prefer phones with larger screens.
The Pune-based firm had submitted interim safety and immunogenicity data of phase 2/3 bridging clinical trial conducted in the country as well as interim clinical trial data of safety and efficacy from phase3 clinical trials conducted in the UK and the US along with its application.
Vaccine major Serum Institute of India on Tuesday said the approval for the COVID-19 vaccine 'Covovax' would strengthen immunization initiatives across India and various lower and middle income countries across the world.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
The restrictions on Punjab and Maharashtra Cooperative (PMC) Bank has been extended for another three months till the end of March next year. Reserve Bank of India (RBI) has extended the restrictions as further action on the draft scheme for the takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB) is in process. The central bank had prepared a draft scheme of amalgamation and the same was placed in the public domain on November 22 as part of seeking suggestions and objections, if any, from members, depositors and other creditors of PMC Bank and USFB.
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