ECONOMY & NATION


Kotak Mahindra Bank will sell 20 crore shares in Airtel Payments Bank Ltd amounting to 8.57 per cent stake to Bharti Enterprises for around Rs 294 crore.   Kotak Mahindra Bank Limited has executed a share purchase agreement for the sale, the bank said in a regulatory...

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Automobile major Maruti Suzuki India blamed rising commodity cost for another price hike from September.   Earlier in calendar year 2021, the automobile major had increased prices in January, April, and in July for only for the hatchback Swift and all CNG variants.   "Rising...

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In a bid to increase transparency in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI (Insolvency and Bankruptcy Board of India) has proposed amendments to the regulations.   In a discussion paper,  IBBI noted that the regulatory framework of liquidation...

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Moneylife Digital Team 30 August 2021
Dealers of two-wheelers, passenger vehicles and commercial vehicles expect sales to increase 10%-15% this fiscal on a low base of last fiscal, driven by new model launches, pent-up demand, and festive season sales, reveals a survey conducted by CRISIL.   "Regional performance varies...

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In a relief for taxpayers, the Central Board of Direct Taxes (CBDT) has extended the due dates for filing of various electronic forms under the Income Tax Act, 1961.   In a statement, the Finance Ministry said that the move comes on the back of difficulties reported by taxpayers and...

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Moneylife Digital Team 28 August 2021
Future Retail, on Saturday, has filed a new case against Amazon.com Inc at the Supreme Court. This is the Kishore Biyani-led company’s latest attempt to seek clearance for its $3.4 billion retail assets sale, which Amazon has challenged.   Earlier this month, the Supreme Court had...

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Ranganathan V Ranganathan V 28 August 2021
Splits and separations in business families necessitating segregation of the hitherto commonly held assets, including controlling holdings in corporate entities, is not a subject that would kindle any special interest, given that it has been and continues to be quite...

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The Enforcement Directorate has attached 45 immovable properties worth Rs 363.51 crore of M/s MBS Jewellers Private Limited, M/s MBS Impex Private Limited, Sukesh Gupta, Anurag Gupta, Neetu Gupta, Vandana Gupta and their other group entities on August 26, under provisions of the PMLA,...

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Moneylife Digital Team 28 August 2021
The Reserve Bank of India (RBI) has imposed a penalty totalling Rs9 crore on five payment system operators, citing non-compliance with its norms on prescribed transaction limits and ATM deployment.   The RBI has imposed a penalty of Rs3 crore on Transaction Analysts (India) for...

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Moneylife Digital Team 28 August 2021
The Reserve Bank of India (RBI)’s expert committee on primary (urban) co-operative banks (UCBs) has recommended a regulatory nudge for weak UCBs to explore voluntary merger or conversion into a non-banking society at an early stage.    The committee has submitted its report, which,...

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Samriddhi Sakunia (The Leaflet) 27 August 2021
Despite the new labour reform codes covering gig workers and providing them social security benefits, the exploitation of food delivery executives, especially after the pandemic, continues. With the codes still not implemented, they stare at a dark future, writes SAMRIDDHI...

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Walter Vieira Walter Vieira 27 August 2021
To my mind, these are the three steps in a successful project.    In many countries like India, we have excellent planning. Average implementation. And a poor follow-up. The poor follow-up reflects on the poor implementation. The result is below-average performance in many of the...

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Moneylife Digital Team 27 August 2021
In a case that highlights how transporters could be harassed through the e-way bill system, the High Court (HC) of Tripura directed the tax authorities to release a transport vehicle and machinery detained due to the e-way bill's expiry and other issues. The truck was detained by the state...

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The National Commission for Protection of Child Rights (NCPCR) has informed the Supreme Court that over 100,000 children have either been orphaned, lost a parent, or abandoned amid the ongoing COVID-19 pandemic from April 2020.   The child rights body, in an additional affidavit, told...

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Moneylife Digital Team 26 August 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs27.5 lakh on Thrissur-headquartered Dhanlaxmi Bank for non-compliance with specific provisions issued by the central bank on crediting eligible amounts to the Depositor Education and Awareness Fund (DEA Fund).   In a...

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Moneylife Digital Team 26 August 2021
Moody’s Investors Service says the second COVID wave has increased asset risks for Indian banks, but a severe deterioration is unlikely.   The second infection wave will lead to new problem loans in the retail and SME segments. Still, a severe asset quality decline is unlikely, it...

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Moneylife Digital Team 26 August 2021
Expressing displeasure over the way Sanjay Chandra and Ajay Chandra, erstwhile promoters of Unitech Ltd, were allegedly operating from Tihar Jail in New Delhi, the Supreme Court asked to immediately shift them to jails in Maharashtra. The apex court also pulled up Tihar Jail authorities for...

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Moneylife Digital Team 26 August 2021
The Minerals and Metals Trading Corporation (MMTC) Ltd, India's largest public sector trading body, says a court has ordered attachment of its three properties located in Delhi in the Anglo Coal case. Earlier, after failing to pay the decretal amount, MMTC had deposited original title deeds...

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Moneylife Digital Team 25 August 2021
The Securities and Exchange Board of India (SEBI) has ordered unfreezing bank accounts as well as shares and mutual fund holdings of Rana Kapoor, former managing director (MD) and chief executive (CEO) of Yes Bank. Mr Kapoor is currently in judicial custody after being arrested in March 2020...

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The Madras High Court on Wednesday struck down 10 per cent reservation for the economically weaker sections (EWS) for admission to medical and dental seats in All India Quota (AIQ) seats surrendered by the Tamil Nadu government, as this breaches the 50 per cent cap set by the Supreme...

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