ECONOMY & NATION


The Supreme Court on Wednesday took a serious view of people still being prosecuted under Section 66A of the IT Act 2000, and directed that no citizen should be prosecuted under the provision, which was struck down as unconstitutional by it in 2015 in the Shreya Singhal case.   A...

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Rise in domestic aviation traffic has led to a surge in the airfares ahead of the festive season.   The domestic aviation traffic has recorded continuous improvement and as per Civil Aviation Ministry, the number crossed the mark of 4 lakh daily passengers on October...

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The Supreme Court Tuesday held that the four-month statutory provision for granting sanction to prosecute government officials in criminal cases, including graft matters, is "mandatory", but a delay wouldn't lead to quashing of charges against public servants.   A bench of Justices...

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Moneylife Digital Team 11 October 2022
Buoyancy in securitisation, supported by a favourable macroeconomic scenario and healthy credit demand, resulted in volumes increasing by nearly 70% to Rs73,000 crore in the first half of FY22-23 (H1FY22-23). Mortgage-backed loans formed the largest chunk of total securitised volumes at about...

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Chief Justice of India (CJI) Uday Umesh Lalit has recommended the name of justice DY Chandrachud as his successor.   CJL will demit office on 8th November, after a tenure of 74 days.   On Tuesday, Justice Chandrachud was formally named as the 50th CJI at a gathering of all...

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Moneylife Digital Team 11 October 2022
Reserve Bank of India (RBI) on Monday cancelled the licence of Pune-based Seva Vikas Co-operative Bank as the urban cooperative bank lacked adequate capital and earning prospects. Bank ceases to carry on banking business, with effect from the close of business on 10 October 2022, RBI said in...

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CNN has surprisingly shut down its crypto and Web 3.0 project called 'Vault' where the company aimed to sell non-fungible tokens (NFTs) of news stories.   The shocked users accused CNN of a "rug pull", a term used when crypto developers abandon a project and run away with investors'...

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Yogesh Sapkale Yogesh Sapkale 10 October 2022
Canara Bank, the country's fourth-largest public sector bank (PSB), continues to write off bad loans of big defaulters who have borrowed Rs100 crore and more. At the same time, the Bank refuses to share names of these big defaulters under the Right to Information (RTI) Act, again wrongly...

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Moneylife Digital Team 10 October 2022
Driven by the expected healthy growth in the assets under management (AUM) and the improvement in profitability, non-banking financial companies-microfinance institutions (NBFC-MFIs), are witnessing a turnaround. With healthy portfolio growth and improved profitability, NBFC-MFIs are...

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A case against Infosys by a former recruiter alleging that 'to her shock' the tech giant discriminated against Indians, can proceed, a federal judge in New York has ordered.   Judge J Paul Oetken, hearing the case in New York, threw out late last month requests by Infosys and its...

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Navratri 2022 did not give sleepless nights to the automobile dealers as sales went up by 57% compared to corresponding period in 2021, said the Federation of Automobile Dealers Association (FADA).   According to FADA, when compared to Navratri 2019, the sales during the current year...

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India is among the countries with highest number of Android trojan detections and a cloned, third-party unofficial version of WhatsApp is leading in spying on people's chats in the country, a new report has warned.   Behind a large portion of Android spyware detection in the past four...

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After the Centre imposed 5 per cent GST on unbranded labelled and pre-packaged food items weighing less than 25 kg in July, most of the companies are now packing their goods, in excess of 25 kg, in a single packet to be exempted from the tax levy.   In a notification, the Central...

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Meta has warned at least 1 million Facebook users about more than 400 malicious Android and iOS apps targeting them to steal their login information and compromise their accounts.   According to the company, it reported its findings to Apple and Google and are helping potentially...

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World's largest cryptocurrency exchange Binance has confirmed that hackers have stolen more than $100 million from its platform.   The Binance Blockchain, also known as BNB Chain, said that a total of 2 million BNB tokens -- worth nearly $568 million -- were initially stolen by the...

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The Finance Ministry on Friday invited expression of interest (EoI) for strategic disinvestment in IDBI Bank, a move which would allow sale of a joint stake of the government and LIC of up to 60 per cent in the bank.   As per the bid details issued by the Department of Investment and...

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The skyrocketing of the US dollar against various currencies in 2022 is posing problems for advanced and emerging markets, but there is no easy option available, said S&P Global Ratings.   According to the report, the resolution of the issue is not just dependent on economics but also...

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Moneylife Digital Team 07 October 2022
The Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday launched a new 'SupTech' initiative called DAKSH. This application will be the bank's advanced supervisory monitoring system, which is expected to make the supervisory processes more robust.   RBI said it has been...

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Moneylife Digital Team 06 October 2022
Tightening liquidity conditions and ensuing volatility in asset prices could impact the entities having reliance on equity infusions through initial public offerings (IPOs), rights issues or monetisation of assets, says a research note.   In the report, India Ratings and Research...

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With the judge in the Twitter-Elon Musk case declaring that the micro-blogging platform could hunt for Mr Musk's secret chats with whistle-blower Peiter 'Mudge' Zatko, the Tesla CEO (chief executive officer) may have decided to make a turnaround and announce to go ahead with the US$44bn...

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