ECONOMY & NATION


As the electric e-scooter maker Ola Electric faces government scrutiny and consumer complaints, a couple of its top-notch executives have quit, the latest being its chief marketing officer Varun Dubey.   The company confirmed to IANS that Dubey is leaving the company due to "personal...

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India's retail inflation accelerated to 7.79 per cent in April, remaining above the tolerance limit of the central bank for a fourth month in a row, data released on Thursday showed.   The retail inflation stayed well above the Reserve Bank of India's upper tolerance limit for a...

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A day after being arrested in a PMLA case, Jharkhand mining secretary Pooja Singhal was suspended from the Indian Administrative Services (IAS).   The action against her was taken by the Department of Personnel and Training.   Singhal is presently in five-day ED's custody in...

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Moneylife Digital Team/ IANS 11 May 2022
The Supreme Court (SC) on Wednesday put on hold the colonial-era penal provision of sedition and asked the Union and state governments to refrain from registering any first information reports (FIRs) under the sedition provision, Section 124A of the Indian Penal Code (IPC), till review of the...

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Parsa Venkateshwar Rao Jr (The Leaflet) 11 May 2022
The distinction between what the Prime Minister says in his personal capacity, and the stand of the Union Government is not merely academic, as Article 300 of the Constitution fortifies it.    —–   The Union Home Ministry has filed an affidavit at the Supreme Court in the...

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IAS officer and Jharkhand Mines Secretary Pooja Singhal was on Wednesday arrested by the Enforcement Directorate (ED) after her second day of questioning in connection with the ongoing probe of Prevention of Money Laundering case pertaining to alleged embezzelment of MNREGS...

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The Central Consumer Protection Authority (CCPA) on Tuesday warned ride-hailing platforms like Uber and Ola to fix rising consumer complaints regarding ride cancellations, cancellation charges, random surge pricing and long waiting times, or else face penal action.   Sources close to...

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The Delhi High Court (HC) on Tuesday granted bail to Krishnan Subramanian, the former group CEO (chief executive officer) of Religare Enterprises Ltd, who was arrested in connection with an alleged Rs2,397 crore financial fraud case last year.   On 9 December 2021, the economic...

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JSW group is expected to make a US$7bn (billion) bid for Holcim AG's Indian subsidiaries Ambuja Cements Ltd and ACC Ltd, the Financial Times reported.   The company will offer US$4.5 billion in its own equity and US$2.5 billion from undisclosed private equity partners for the bid, JSW...

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Union road transport, highways and shipping minister, Nitin Gadkari, on Tuesday blamed low-quality construction material for the collapse of a bridge in Bhagalpur district of Bihar.   A section of the bridge which connected Sultanganj in Bhagalpur district to Khagaria in Munger...

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Moneylife Digital Team 10 May 2022
Reliance Industries Ltd (RIL)'s net leverage will remain below 1.0 times in the medium term on strong cash-flow generation across its business segments, even as the India-based conglomerate increases investments in the new energy and new materials business, says a research...

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TruthInAdvertising.org 10 May 2022
According to Arizona-based MLM Forever Living (aka Forever), which sells a variety of aloe vera wellness products, “Starting a business with Forever gives you the potential to earn a significant income stream, plus have time and freedom to build your life according to your dreams and allows...

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Moneylife Digital Team 10 May 2022
The momentum in housing demand across India's top-6 cities is expected to continue this fiscal and grow 5%-10% despite rising property prices, interest rates and a high-base effect, says a research note.   Aniket Dani, director of CRISIL Research, says, "We expect residential real...

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Fintech platform Razorpay on Tuesday announced its fourth and largest employee stock ownership plan (ESOP) buyback sale for 650 existing and former employees for a $75 million (nearly Rs 578 crore) transaction.   To date, Razorpay has helped 1,940 employees create wealth across...

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Leading fintech platform BharatPe on Tuesday said it has initiated necessary action against the company's former founder Ashneer Grover to "claw back his restricted shares as per the shareholders' agreement" and will take all steps to enforce its right under the law.   As part of its...

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The global cryptocurrency market entered its worst phase ever on Tuesday, with Bitcoin dropping below $30,000 per coin and leaving millions of investors in a panic mode.   The overall global cryptocurrency market dropped 13 per cent, and was hovering around $1.37 trillion market cap,...

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The Enforcement Directorate has seized three cars belonging to IAS officer Pooja Singhal's Chartered Accountant (CA) Suman Kumar in connection with the prevention of money laundering case pertaining to the MGNREGA funds scam of around Rs 18 crore.   On Tuesday, Singhal appeared before...

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Tech giant Google announced that it now requires personal loan apps in India to complete the additional proof of eligibility requirements and the deadline for this was set to end on Wednesday.   The eligibility includes copy of their license by the Reserve Bank of India (RBI), and...

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The Indian rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday.   The Indian currency is weighed by the strength of the American currency in the overseas market and continued foreign fund outflows. Further, rupee slipped on...

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India is one of the largest markets for smartphones in the world; however, lack of digital literacy is causing many people, including highly educated persons, to fall victim to fraud. The latest modus operandi in the series of frauds is to persuade people to download apps that give full access...

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