ECONOMY & NATION


Moneylife Digital Team 15 September 2021
Giving a significant relief to telecom service operators, the Union Cabinet on Wednesday announced a moratorium or deferment of up to four years in annual payments of dues arising out of the adjusted gross revenue (AGR) judgement or spectrum payments. The Cabinet meeting headed by prime...

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IANS 15 September 2021
The Centre on Wednesday approved a production linked incentive (PLI) scheme for the auto sector, especially focusing on environment-friendly automobiles such as electric vehicles (EVs).   The over Rs25,000 crore scheme is likely to boost production of components as well as give a push...

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Moneylife Digital Team 15 September 2021
A generous regulatory approach to stressed-loan restructuring will reduce incurred-loss provisioning and enable Indian banks to spread the related credit costs over a longer period of four years, resulting in a more manageable impact on profitability and capital, says Fitch Ratings. The...

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Moneylife Digital Team 15 September 2021
India's household debt increased on an average by 1.5 times between 2012 and 2018. The state-wise trend indicates that the rural households' average debt more than doubled in 18 states for the six years ended 2018, while seven states witnessed the same for urban households. Over the next...

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Moneylife Digital Team 14 September 2021
The Kolkata-headquartered SREI group, which includes SREI Infrastructure Finance (SIFL) and SIFL’s wholly-owned subsidiary SREI Equipment Finance (SEFL), has been under stress for about a year now. In December 2020, the Kolkata bench of the National Company Law Tribunal (NCLT) had issued an...

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IANS 14 September 2021
Online food delivery major Zomato's co-founder Gaurav Gupta has resigned from the company after a six-year stint.   Mr Gupta was the head of supply at the recently-listed company.   In an email to everyone in the company he said: "I am taking a new turn in my life and will be...

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IANS 14 September 2021
The gross non-performing assets (GNPAs) of banks are expected to cross Rs 10 lakh crore by March 2022, a ASSOCHAM-Crisil joint study had said.   "NPAs are expected to rise to 8.5-9 per cent by March 2022, driven by slippages in retail, micro, small and medium enterprise (MSME)...

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Moneylife Digital Team 14 September 2021
Two independent directors, namely Ashok Kurien and Manish Chokhani, resigned from the board of Zee Entertainment Enterprises Ltd a day before the company’s annual general meeting (AGM). Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China...

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Moneylife Digital Team 13 September 2021
While observing that the formula prescribed by Rule 89(5) of the Central Goods and Service Tax Rules, 2017 (CGST Rules) suffers from anomalies, the Supreme Court says it cannot be a ground to strike down a fiscal rule that has been framed in exercise of the power of delegated...

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Moneylife Digital Team 13 September 2021
Asset reconstruction companies (ARCs) are expected to circle stressed accounts in the micro, small and medium enterprises (MSME) and retail segments in the near-to-medium term due to the twin challenges of inadequate funding access and intensifying competition from the proposed National ARC,...

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Veeresh Malik Veeresh Malik 13 September 2021
The typical urban scenario used to be about a tenant doing the rounds, looking for reasonable accommodation—and then going through a rigorous know-your-tenant (KYT) pre-verification, police verifications and all sorts of post-signing fine print - including dealing with broker commissions as...

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Srinath Mallikarjunan 13 September 2021
There has been a lot of hype over the recently liberalized 'Drone policy'. The new drone policy may be found here. The media has hailed these rules as a visionary, game-changing and, of course, a masterstroke.    The hurdles and roadblocks placed by the bureaucracy before India’s...

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Moneylife Digital Team 11 September 2021
The Madurai Bench of Madras High Court has issued a notice to the Reserve Bank of India (RBI) and Union finance ministry on a public interest litigation (PIL) petition filed against challenging the mandatory positive pay system in the country.   The litigant K Krishna, an advocate...

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IANS 11 September 2021
The share of corporate insolvency resolution processes (CIRP) initiated by corporate debtors themselves have declined over the years since the inception of the Insolvency and Bankruptcy Code (IBC).   Data from the Insolvency and Bankruptcy Board of India (IBBI) showed that as of March...

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IANS 11 September 2021
Coffee Day Enterprises has paid Rs 69 lakh to settle a case, pertaining to alleged disclosure norm violations, with the Securities and Exchange Board of India (SEBI).   Following issuance of a show cause notice, the company filed an application dated February 18 this year for...

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IANS 11 September 2021
The Central Board of Direct Taxes (CBDT) has extended deadlines for several compliances, including the filing of Income Tax returns for the Assessment Year (AY) 2021-22.   The due date of furnishing of returns of income for the assessment year 2021-22, has been extended to December...

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Quaid Najmi (IANS) 11 September 2021
In another embarrassment for Union MSME Minister Narayan Rane, the Pune police's Crime Branch has issued 'Lookout Circulars' against his wife and legislator son in alleged loan default cases of over Rs 65 crore.   The LOCs have been authorised by three parties, including the Union...

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Moneylife Digital Team 09 September 2021
Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked shareholders of Zee Entertainment, not to re-appoint independent directors, Ashok Kurien and Manish Chokhani, on the company's board.   Raising concerns of corporate governance, IiAS highlighted that Ashok...

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Moneylife Digital Team/ IANS 09 September 2021
American automotive major Ford Motor Company on Thursday announced it has decided stop manufacturing at its two Indian plants, owned by its subsidiary Ford India Private Ltd, due to losses.   In a statement, Ford India said it would expand its city-based Ford Business Solutions team...

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Moneylife Digital Team 09 September 2021
Onions, a staple in most Indian households, are likely to make consumers cry again, with erratic monsoon leading to an eventual delay in harvest. Delay in arrival of the Kharif crop and shorter shelf life of the buffer stock because of Cyclone Tauktae are likely to fuel a rise in prices, says...

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