The interim report highlights key competition issues in the e-commerce space like deep discounting, the imposition of unfair terms and conditions, the growing dependence of brick and mortar establishments on online platforms, and opaqueness in search rankings.
Senior bankers point out that while they will eventually attract qualified professionals, onboarding them takes time.
Deloitte India would not provide non-audit services to all listed companies and other entities where public money is involved such as banks and insurance companies, if they are its audit clients.
Police have advised people to use the navigation app 'Mapmyindia' to get around the city till the restrictions are in place.
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
Climate activist Soman Wangchuk announced on Sunday that he will launch a 28-day fast on Independence Day if the government does not invite Ladakh authorities for talks on demands for statehood and constitutional protection for the union territory.
This is not for the first time that the customers of the bank have faced service outage. In fact, the bank has been penalised by the Reserve bank of India (RBI) for two major outages in the past. In December, the RBI temporarily barred HDFC Bank from launching new digital banking initiatives and issuing new credit cards after taking a serious view of service outages at the lender over the last two years.
South Korean golfer Bae Sang-Moon, who has won twice on the PGA Tour, is to return home to complete his military service after losing a legal battle to defer his conscription on Wednesday.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
The highlights of RBI's bi-monthly monetary policy announced by Governor Shaktikanta Das:
Alternative investment funds (AIFs) are yet to fully demat the outstanding units even as the deadline ended on October 31. Industry players say they are working on the transition from physical to electronic with the depositories Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NDSL). Some said they are hoping for some relaxation from the market regulator Securities and Exchange Board of India (Sebi), given the teething problems they are facing.
The guidelines for regulating coaching institutes have been framed to address the need for a legal framework and manage the unregulated growth of private coaching centres.
An online company would show a particular price to the customer and then quickly increase the cost after analysing consumer behaviour or detecting any kind of desperation.
JM Financial on Wednesday said it had a "careful and detailed review" of the Reserve Bank's order imposing restrictions on the company's financing business and asserted that there was "no material deficiencies" in its loan sanctioning process. The Reserve Bank on Tuesday imposed restrictions on JM Financial Products Ltd after it found the company indulged in various manipulations, including repeatedly helping a group of its customers to bid for various IPOs (initial public offerings) by using loaned funds. "After careful and detailed review of the order issued by the RBI on the action against JM Financial Products Ltd, we strongly believe that there have been no material deficiencies in our loan sanctioning process.
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
'If creative jobs can get disrupted, then left brain jobs like coding are easily disrupted. We are going through the journey of huge disruption.'
TRAI seeks views to regulate net-based calling, messaging apps
RBI Governor Shaktikanta Das on Friday said the entry of big tech firms into the financial sector poses systemic concerns like overleveraging at the borrowers' ends.
Given the significant cross border trade of services with the US, the service regulations are of particular significance for India
Yunus, 84, was administered the oath of office by President Mohammed Shahabuddin at a ceremony at the presidential palace 'Bangabhaban'.
Companies think they are too big to bow before regulators.
The battle for the top spot in the two-wheeler market is intensifying. The gap between Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI) in retail sales narrowed to just 45,607 units in June. This improvement comes as HMSI has clawed back market share after dipping to a historic low of 18 per cent in May 2023. Now, the retail market shares of the two companies are 28.86 per cent and 25.54 per cent, respectively, compared to 35.54 per cent and 18.05 per cent in May 2023.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
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The development comes after the National Democratic Alliance government this year broke a 92-year-old tradition of presenting a separate Railway Budget, according to suggestions made by the Debroy committee.
'...similar to the 2008 global financial crisis, the 2012 taper tantrum, or the 2018 midcap crash.' 'This could lead to a substantial decline in activity and revenues for the broking industry.' 'When this will happen is uncertain, but as brokers, we must be prepared for such a downturn.'
'All three players in the market are haemorrhaging cash. Average consumer is consuming 12 gigabits (GB) at price points you don't see anywhere else.'
Payments banks are expecting to get the rights to offer small-ticket loans sometime soon, according to an industry source familiar with the matter. The industry has been in talks with the Reserve Bank of India (RBI) for some time in seeking lending rights.
The regulator has asked portfolio managers not to leverage the portfolio of clients for investment in derivatives and not indulge in speculative transactions that are not accompanied by actual delivery, except for derivatives trades. This is done with the intention of reducing volatility in the market and curbing undue risks.
IMAGES from Day 7 of the Wimbledon Championships, at the All England Lawn Tennis and Croquet Club, London, on Sunday.
NEET is a court-ordered examination, supposedly aimed at meritocracy. However, over the past years when the incumbent Narendra Modi government at the Centre began implementing it, it took on political and casteist colours, observes N Sathiya Moorthy.
FSSAI is looking to tap the Airport Health Organisation to ensure that such incidents aren't reported in the future.
Business success often involves a combination of planning, implementation, and continuous learning, says rediffGURU Harsh Bharwani.
The Securities and Exchange Board of India (Sebi) might relax the disclosure norms around rumour verification to help smooth implementation and ease compliance amid pushback from India Inc, said people in the know. The rule has been notified following amendments to the Listing Obligations and Disclosure Requirements (LODR) by Sebi. However, its implementation has been deferred until February.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
An order was issued to terminate 223 contractual employees of the Delhi Commission of Women after Lieutenant Governor V K Saxena gave his nod to a proposal on it, officials said on Thursday.
rediffGURU Shreya Shah answers diet and nutrition-related questions. Ask away!
The need to maintain people's confidence in digital banking resulted in the action against HDFC Bank for service outages, RBI Governor Shaktikanta Das said on Friday and exhorted lenders to invest more on the technology front.
