ECONOMY & NATION


Moneylife Digital Team 30 September 2022
After maintaining the status quo for small savings rates for 27 months (nine quarters), the finance ministry has hiked interest rates on some of the small savings schemes for October-December.   Interest rates were marginally hiked for 2-year and 3-year time deposits, senior citizens...

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Moneylife Digital Team 30 September 2022
As expected, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday increased the repo rate by 50 basis points (bps) to 5.90%. Consequently, the standing deposit facility (SDF) rate stands adjusted to 5.65% and the marginal standing facility (MSF) rate and the bank...

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IANS 30 September 2022
A Goods and Services tax (GST) evasion worth Rs 824 crore has been detected against 15 insurance companies as well as several non-banking financial companies (NBFCs).   According to sources privy to developments, these companies were reportedly found to be availing input tax credit...

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Moneylife Digital Team 29 September 2022
Here is some bad news for those who want to visit the US on a non-immigrant visa. In India, the waiting time for an appointment for a visitor visa is a minimum of 582 days at Hyderabad to 848 days at the US consulate in Mumbai. In comparison, the waiting period for US visitor visas in Beijing...

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Moneylife Digital Team 29 September 2022
The enforcement directorate (ED) has virtually 'exonerated' Republic TV and R. Bharat—English and Hindi news channels owned by Arnab R Goswami, but the agency has booked 16 others of various private television channels and a market research group, for alleged money-laundering charges in the...

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IANS 28 September 2022
In a high-profile media feed hacking, US-based business news publication Fast Company on Wednesday said its content management system (CMS) was hacked and two obscene and racist push notifications were sent to users via its Apple News alerts.   Apple immediately addressed the incident...

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IANS 28 September 2022
The Delhi High Court on Wednesday granted 'statutory bail' to Chitra Ramakrishna, the former CEO-MD of National Stock Exchange (NSE), and former NSE official Anand Subramanian in the NSE co-location scam case.   Justice Sudhir Kumar Jain granted the 'statutory bail' as the probe had...

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Yogesh Sapkale Yogesh Sapkale 27 September 2022
Whenever anyone questions bad loans of scheduled commercial banks, the Union government and banking regulator often claims that written off does not mean that there would not be a recovery of dues. However, data available in the public domain from TransUnion CIBIL Ltd (CIBIL) shows that as of...

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IANS 27 September 2022
Non-banking finance companies (NBFCs), including housing finance companies (HFCs), are expected to report around 14 per cent year-on-year growth in assets under management in current financial year, India Ratings said in a report.   "GNPA could rise moderately to 5% in FY23 from 4.6%...

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Moneylife Digital Team 27 September 2022
The ministry of corporate affairs (MCA) appointed Nand Kishore as managing director (MD) of crisis-hit Infrastructure Leasing and Finance Ltd (IL&FS), while incumbent MD CS Rajan has been made non-executive chairman. After the end of the term of Uday Kotak on 2 April 2022, Mr Rajan was...

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IANS 27 September 2022
Come Tuesday, the Supreme Court will begin live streaming its Constitution bench proceedings, which can be accessed at: webcast.gov.in/scindia/   The apex court will live stream three separate five-judge Constitution benches.   A five-judge bench, headed by Chief Justice U.U....

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Yogesh Sapkale Yogesh Sapkale 26 September 2022
Bank of Baroda (BoB), the second largest public sector bank (PSB), has written off bad loans worth Rs44,481.24 crore of big defaulters with an outstanding of Rs100 crore and more over the past 10 years. During the same period, BoB managed to recover just 25% of the written-off debt, as per...

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Moneylife Digital Team 26 September 2022
The Bombay High Court (HC) on Monday, while giving relief to Reliance Anil Dhirubhai Ambani (R-ADA) group chairman Anil Ambani in an alleged Rs420 crore tax evasion matter, asked the income-tax (I-T) department not to take any coercive action against him up to 17 November...

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IANS 26 September 2022
Businesses having aggregate annual turnover of Rs10 crore and more will have to compulsorily generate e-invoices for business-to-business (B2B) transactions from 1st October onwards, according to the finance ministry.   As of now, businesses with turnover of Rs20 crore and more are...

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Moneylife Digital Team 26 September 2022
Operating profitability of cement-makers in India will decline about 15% to Rs900/tonne to Rs925/tonne in fiscal 2023, adding to the pain of a 9% decline previous fiscal, as an increase in realisations will not be enough to offset the rise in prices of coal, petcoke and diesel that have...

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Sher Singh 26 September 2022
In an interesting case of foreign investment in the Indian agricultural sector, Nashik-based Sahyadri Farms Post Harvest Care Ltd, a little-known farmer-led agri-processing company, has raised Rs310 crore from a consortium of impact investors Incofin, Proparco, FMO and Korys. The consortium...

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IANS 26 September 2022
Delhi High Court (HC) has restrained Axis Bank from substituting PS Toll Road Pvt Ltd (PSTR) as the concessionaire of the Pune-Satara Toll Road Project.   Delhi HC has found Axis Bank in breach of its own undertaking given before the Court.   The Court, in its order, has said...

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IANS 26 September 2022
63 moons technologies, a global leader in providing next-generation technology, user-friendly financial platforms and solutions, and digital markets, on Monday said the company would not provide its exchange technology support and services to Multi Commodity Exchange (MCX) beyond this...

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Yogesh Sapkale Yogesh Sapkale 24 September 2022
Following the footsteps of State Bank of India (SBI) and Bank of Maharashtra, another public sector lender, Indian Overseas Bank (IOB), has decided to keep hidden this year the names of big defaulters who have borrowed Rs100 crore and more, which were written off from its books. As reported...

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Moneylife Digital Team 24 September 2022
The Supreme Court (SC), on Thursday, pronounced a jail term of six months to brothers Malvinder Singh and Shivinder Singh in a case filed by Daiichi Sankyo. The Japanese drug-maker had filed a case against the Singh brothers for concealing information regarding wrongdoing while selling their...

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