ECONOMY & NATION


IANS 28 November 2023
“Your actions must protect the company from what proposes to be a long-drawn acrimonious battle between Nawaz Modi and Gautam Singhania,” corporate governance advisory firm, Institutional Investor Advisory Services India Limited (IiAS) has written in a letter to independent directors of...

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IANS 28 November 2023
S&P Ratings has raised its forecast for India’s GDP growth during the current financial year to 6.4% from the earlier 6%.   “We have revised upwards our projection for this fiscal as robust domestic momentum seems to have offset headwinds from high food inflation and weak exports”'...

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Moneylife Digital Team 28 November 2023
The recovery timelines under resolution through the Insolvency and Bankruptcy Code (IBC) route continue to lengthen with those resolved in the second quarter (2Q) of FY23-24 touching an all-time high of 662 days for financial creditors (FCs) with a consistent increase across all creditor...

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IANS 28 November 2023
The automobile sector logged 19 per cent retail sales volume growth during the 42-day festive period, said the Federation of Automobile Dealers Association (FADA).   The Federation of Automobile Dealers Associations (FADA) on Tuesday released Vehicle Retail Data for 42 days festive...

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Moneylife Digital Team 28 November 2023
The income tax (I-T) department has provided taxpayers a facility to discard income tax returns (ITRs) that are unverified or are pending verification. This facility will allow taxpayers to file a new ITR instead of rectifying omissions and errors. Taxpayers can avail of this option only from...

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IANS 28 November 2023
The study was undertaken by the National Election Watch and Association of Democratic Reforms (ADR) which analysed the self-sworn affidavits of 8,051 out of 8,054 candidates who contested in the five states Assembly elections of Mizoram, Chhattisgarh, Madhya Pradesh, Rajasthan and...

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Moneylife Digital Team 27 November 2023
Referring to the recent mobile payment service (IMPS—immediate payment service) glitch resulting in an erroneous transfer of Rs820 crore to various account-holders of UCO Bank, Bank Bachao Desh Bachao Manch (BBDBM or Manch), a civil society organisation, has suggested four measures to protect...

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IANS 27 November 2023
In a case against rogue websites involved in disseminating copyrighted content belonging to content-creators including Universal, Warner Bros, Netflix, Paramount Pictures and Disney, the Delhi High Court has granted an ex-parte ad-interim injunction in favour of them.   Justice...

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IANS 27 November 2023
The housing market has gone out of reach for some American middle-class people across the country, especially in the urban areas such as New Jersey and New York City, as mortgage rates have skyrocketed this year compared to the previous year.   The housing market has been pushed out...

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IANS 27 November 2023
The National Company Law Appellate Tribunal (NCLAT) has postponed the final hearing of Google's appeal against the competition commission of India's (CCI) order imposing a penalty of Rs936 crore, media reports said.   In a notice released on 24th November, the NCLAT deferred the...

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Ashneer Grover and his spouse were halted at the airport departure gate when they were set to fly out of the country recently. Both had a lookout notice (LoC) on them in a case being investigated by the economic offences wing (EoW) regarding the alleged Rs81 crore fraud that took place in...

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Moneylife Digital Team 24 November 2023
Nawaz Modi, the director of Raymond Ltd and wife of the company chairman Gautam Singhania, claimed that the Ambanis had come to her rescue after Mr Singhania physically 'assaulted' her, says a report from India Today.   In an interview, Ms Modi says her estranged husband, Mr...

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I have the pride and honour of serving, for 28 years, the State Bank of India (SBI), till February 1994 and as a pensioner for the past 29 years. But the SBI I served is certainly different from the SBI now as it is now SBI plus seven associates assimilating diverse cultures of the...

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Imagine the plight of a corporate chieftain and his wife living in a house with as few as 30 bathrooms that need to be shared between them and their two daughters! It is a confounding state to be in, not being sure which door to open when the critical moment arrives to seek...

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Moneylife Digital Team 24 November 2023
Calling for reviewing of mis-selling of third-party products, especially IndiaFirst Life Insurance (IFLI) policies, the Bank of Baroda Officers' Union (BoBOU) has requested the top management to delink the insurance product from employees. Bank of Baroda owns a 65% stake, while Carmel Point...

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In the past, banks were known for high-ceilinged banking halls, gloomy staff and tons of paper. Since the arrival of computers in the late 1980s, banks began to change, but not entirely.   A quick look at today’s banks:   - ‘Brick & mortar’ branches continue, but with a...

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Moneylife Digital Team 23 November 2023
The latest notification by the Reserve Bank of India (RBI) to increase the risk weights for consumer credit exposure (mainly on unsecured asset classes) of banks and non-banking financial companies (NBFCs) by 25% is likely to impact the loan sell-downs of personal loan retail pools which had...

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Tapasya  and   Shreegireesh Jalihal (The Reporters' Collective) 23 November 2023
In April 2015, Haryana Chief Minister Manohar Lal Khattar offered Baba Ramdev the status of a state cabinet minister. Ramdev, a resourceful holy man for the Bharatiya Janata Party (BJP) ruling Haryana and the country, declined the offer. "Now, that PM is ours, entire Cabinet is ours, Haryana...

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IANS 23 November 2023
InterGlobe Aviation has received orders from the Commissioner of Income Tax Appeals for the Assessment year 2016-17 and 2017-18.   “A demand of Rs 7,396.76 million (AY 2016-17) and Rs 9,270.31 million (AY 2017-18) was raised by the Assessing officer, against which the Company had...

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IANS 23 November 2023
The National Company Law Tribunal (NCLT) on Thursday extended the moratorium for the Wadia-owned airline Go First airline under the Corporate Insolvency Resolution Process by another 90 days.   The NCLT directed that the resolution plan be completed within the stipulated time period...

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