ECONOMY


The delayed withdrawal of monsoon, coupled with flood situation in various parts of the country, soaring fuel prices and the festive season demand have all set the prices of vegetables, especially essentials such as onion and tomato, to shoot up within a week or so.   The Centre has...

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Cedric Prakash (The Leaflet) 18 October 2021
16th October marks the ‘World Food Day’. With India’s ranking in the Global Hunger Index tragically plummeting further, FR. CEDRIC PRAKASH SJ writes about the need for ensuring the right to food for every single citizen in the country.   Every 16th October – and the world once again...

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India will continue to be the world's fastest growing major economy, clocking a growth rate of 9.5 per cent this fiscal year and 8.5 per cent in the next, according to the International Monetary Fund (IMF) projections released on Tuesday.   The IMF's World Economic Outlook (WEO) kept...

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Arul Louis (IANS) 08 October 2021
India's economy is expected to grow by 8.3 per cent this fiscal year, according to the World Bank, making it the second-fastest-growing major economy.   The Bank's Regional Economic Update released on Thursday said that after the "deadly second wave" of Covid-19 in India "the pace of...

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Moneylife Digital Team 01 October 2021
The Pocharam branch of Infosys on the outskirts of Hyderabad was penalised Rs 50,000 and served with a show-cause notice by the Pocharam municipality this week for collecting parking fees from its employees. The IT company’s Pocharam branch was collecting Rs 500 per car and Rs 250 to Rs 300...

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Moneylife Digital Team 01 October 2021
In another unexpected twist in what is turning out to be an Ekta Kapoor-style television drama, the Zee board has adopted a confrontational stance and rejected the demand of Atlanta-based Invesco Developing Markets Fund to convene extraordinary general meeting (EGM). The board has cited...

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Moneylife Digital Team 30 September 2021
The National Company Law Tribunal (NCLT) has ruled that the board of Zee Entertainment Enterprises (ZEE) has to consider the key shareholders’ request and call an extraordinary general meeting (EGM) in accordance with the law.   Invesco Developing Markets Fund, which along with OFI...

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Moneylife Digital Team 29 September 2021
In an interesting twist to the Zee saga, Invesco Developing Markets Fund has approached the National Company Law Tribunal (NCLT) on Wednesday against Zee Entertainment Enterprises Ltd (ZEEL) for failing to announce a date for the extraordinary general meeting (EGM), that it had requisitioned,...

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Moneylife Digital Team 29 September 2021
Household indebtedness, both in rural and urban areas, was higher in southern states than rest of India over 2013-2019. According to data from the All-India Debt and Investment Survey (AIDIS), in 2019, Telangana, with 67.2%, had the highest proportion of its rural households indebted and...

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Sanjeev Sharma (IANS) 23 September 2021
India's outperformance of other emerging markets is at previous peaks and such periods are usually followed by the country's underperformance, Jefferies has said in a report.   While India is viewed to be a beneficiary of the China turmoil, India's NIFTY has already outperformed...

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Moneylife Digital Team 15 September 2021
In a curious turn of events, Inveso Developing Market Funds, which was welcomed by Zee Entertainment managing director (MD), Punit Goenka (elder son of Zee group founder Subhash Chandra), as a major investor in 2019, has now turned on him.   At Zee Entertainment, two largest...

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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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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 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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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 08 September 2021
A subscriber of Moneylife forwarded to us an email sent by the office of the banking ombudsman, Delhi with a link to an online survey to evaluate the customer satisfaction level with respect to the complaint resolution process of the ombudsman.    Manish Kapoor (name changed) had...

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Moneylife Digital Team 07 September 2021
The Supreme Court (SC) has dismissed a special leave petition (SLP) filed by the Securities and Exchange Board of India (SEBI) against an order of the Securities Appellate Tribunal (SAT) in the CARE Ratings Ltd matter. In June this year, SAT reduced the penalty imposed by SEBI on CARE Ratings...

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Moneylife Digital Team 07 September 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs2 lakh on Sarvodaya Co-operative Bank Ltd for contravention directions issued by the banking regulator on know your customer (KYC).    “The Reserve Bank of India has imposed, by an order dated September 06, 2021, a...

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Moneylife Digital Team 06 September 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs50 lakh on Bombay Mercantile Co-operative Bank for non-compliance concerning certain regulatory directions.   Bombay Mercantile Co-operative Bank has been charged for non-compliance with directions issued by RBI...

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