ECONOMY & NATION


The enforcement directorate (ED) on Tuesday grilled the National Stock Exchange's (NSE's) former chief executive officer (CEO) and managing director (MD) Chitra Ramkrishna at length at Tihar Jail in connection with the co-location (Colo) scam.   The financial probe agency is...

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The dairy farmers of Tirupur are affected after the increased price of cotton seeds led to an increase in the price of cattle feed. Cotton seeds are a vital part of the cattle feed and are rich in protein and fibre.   Farmers told IANS that the price of cotton seeds has gone up from...

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Forced to pay service charges at a restaurant or food outlet of your choice? Are you aware this is entirely optional and voluntary and insistence on it as mandatory violates your right as a consumer?   The government has scheduled a meeting on 2nd June with the National Restaurant...

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The average bid price of coal at a recent spot e-auction conducted by Mahanadi Coalfields Limited rose more than 800% above the notified price, according to a representation by the Coal Consumers Association of India (CCAI), which has pointed this out as an example of how coal buyers in the...

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Enforcement Directorate (ED) raids were underway on Tuesday in more than six places in Jharkhand and Bihar in connection with the MGNREGA funds scam case involving suspended IAS Pooja Singhal.   Singhal, the Mining Secretary in Jharkhand, was dismissed from her post soon after her...

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Intensity of spending in information technology (IT) by BFS (Banking and Financial Services) firms continues to be strong going into 2022, following a good year in 2021, said brokerage house Kotak Securities.   "For example, Citi in its investor day in March announced a 10 per cent...

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Moneylife Digital Team 23 May 2022
South India Spinners Association (all members unanimously), on 22 May 2022, announced that it has decided to close all mills. “The members will not buy cotton until the cotton price situation is conducive for sustainability of mills,” it says, stopping all procurement of cotton. It has cited...

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India's central bank is mulling further rate hikes, said its governor Shaktikanta Das.   He also said the Reserve Bank of India (RBI) will not allow the rupee to depreciate and prevent volatility in the currency market.   In an interview to the CNBC TV18 channel, Mr Das also...

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High climatic temperatures affecting northwest India curbing wheat production and possible extended power outages exacerbating already high inflation and hurting growth is credit negative, said Moody's Investors Service on Monday.   The credit rating agency in a report said: "Over the...

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Parsa Venkateshwar Rao Jr (The Leaflet) 23 May 2022
The Supreme Court’s judgment last week in Union of India versus Mohit Minerals Pvt Ltd Through Director underscores the gap between the GST Council’s purely consultative mandate and the reality in which the states have willingly abdicated their right to tax in favour of an artificial cabal,...

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HSBC has reportedly suspended a senior executive who accused central bankers and other officials of exaggerating the financial risks of climate change.   Last week, Stuart Kirk, a leader in the Bank's responsible investing team, said: "There's always some nut job telling me about the...

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After healthtech platform mFine laid off over 50 per cent of its total workforce (more than 500 employees), Prime Venture Partners which is one of its existing investors said on Monday that this restructuring will give the platform an opportunity to pull through and continue to provide access...

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The World Health Organization (WHO) has honoured India's more than one million Accredited Social Health Activists (ASHA) for connecting people with healthcare services.   ASHA, which means "hope" in Hindi, are among the six recipients of Global Health Leaders Award at the ongoing 75th...

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Moneylife Digital Team 21 May 2022
Paying heed to anger among common people over increased fuel prices, the Union government on Saturday decided to reduce excise duty on petrol by Rs8 per litre and on diesel by Rs6 per litre. Further the government will also give Rs200 per cylinder subsidy for Ujjwala Yojana beneficiaries for...

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The CBI on Saturday launched a search operation on brokers at over ten locations in connection with the National Stock Exchange (NSE) co-location scam involving the financial institution's former MD and CEO Chitra Ramkrishna and the ex-Group Operating Officer Anand...

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The Delhi High Court on Friday sought the response of the Central Bureau of Investigation (CBI) on the bail application of National Stock Exchange's (NSE) former chief Chitra Ramkrishna, who was arrested in connection with the NSE co-location (Colo) scam case.   Seeking the response...

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The enforcement directorate (ED) on Friday said that it has attached properties worth several crores of rupees belonging to some companies in connection with a money laundering case against PACL India Ltd.   While the attached immovable assets are in the form of land ad-measuring...

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Against the backdrop of more than 33 lakh cheque bounce cases which burdens the judicial docket, the Supreme Court on Thursday gave green signal to a pilot study to set up special courts headed by retired judicial officers exclusively to deal with these cases.   A bench of Justices L....

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The Supreme Court on Thursday dismissed review petitions filed on behalf of Cyrus Investments Pvt Ltd and Sterling Investments Pvt Ltd seeking review of the apex court's March 2021 judgement upholding Tata group's decision to remove Cyrus Mistry as executive chairman of Tata Sons.   A...

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The Supreme Court on Thursday ruled that GST council's recommendations are not binding on the Centre and state governments.   A bench headed by justice DY Chandrachud said GST council recommendations only have a persuasive value as India is a cooperative federalism, and the Centre and...

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