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Amid confusion over the involvement of the goods train present at the accident site in Odisha's Balasore on Friday evening, the Railways on Saturday said that Coromandel Express that was going towards Chennai first derailed and collided with the stationery goods trains while some of its...

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The death toll in the tragic train derailment in Odisha's Balasore district has increased to 261, with around 900 people injured, the South Eastern Railway said on Saturday. Union Railway Minister Ashwini Vaishnaw on Saturday morning visited the accident site and announced a detailed...

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Abhay Datar 02 June 2023
One morning you receive a call from someone who introduces himself as your relationship manager (RM) from XYZ Bank, where you have an account.     He wants to visit you at home and tell you how to enhance your returns. This gives him an opportunity to evaluate your lifestyle and your...

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I wrote last week that the Supreme Court (SC)-appointed expert committee on the Adani-Hindenburg Research saga had ended up making a powerful legal case for why the Securities & Exchange Board of India (SEBI) would draw a blank (Adani Stock Saga: Clean Chit by SC Committee Raises Questions &...

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The year was 1993; I was working at CRISIL Ltd. That year, we saw quite a few interesting ‘structured’ obligations that had come to us for rating. One, that was my favourite, was this:   Lokhandwala Construction Industries Ltd (LCIL), a reputed builder, announced a large housing project...

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Shirish Shanbhag 02 June 2023
Using a 'gift deed' to transfer a flat or immovable property, either as a whole or in partial, has been common practice for owners, as it minimises the chances of dispute in property inheritance cases. Unlike a will, the gift deed is immediately executable and one does not require a court...

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Forget about the organised and large-scale duping or cheating of people that emanates from scam clusters such as Jamtara or Mewat, cybercrime today is a sophisticated business that regularly updates itself and its tools. Using the latest malware or trojans, new-age cybercriminals manage to...

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Naresh quit his assistant vice-president (AVP) position in Citibank to head up retail in a new bank being set up in Dubai.   On his first morning at work, he was greeted by the vice-chairman (VC), who was in charge of the bank project.   “Congratulations and welcome, Naresh. ...

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(This was written ten years ago – but is still relevant at present).   I admire Kiran Karnik for his insightful views on people and affairs. He was the head of NASSCOM (National Association of Software and Services Companies), for some years. In a recent article, he suggested that...

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Moneylife Digital Team 02 June 2023
Devyani International (Devyani) reported good numbers in Q4FY22-23 supported by KFC and CC (Costa Coffee) growth and rapid store expansion. The sentiment of consumers continued to be weak. It has on-boarded Pizza Hut (PH) on ONDC (open network for digital commerce) platform and is working...

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The Reserve Bank of India (RBI) on Friday issued a draft master direction on cyber resilience and digital payment security controls for payment system operators.   The central bank has sought comments on the draft guidelines till June 30. These can be sent through email or post to the...

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Moneylife Digital Team 02 June 2023
The market suffered a small correction this week but the underlying trend remains bullish. We expect a short rally next week before a deeper decline. The trends of the major indices in the course of the week’s trading are given in the table below:     On Monday, 1967 stocks...

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Moneylife Digital Team 02 June 2023
In FY22-23, the total value of defence production in India surpassed the Rs1trn (trillion) mark, registering a growth of 12% y-o-y (year-on-year). This significant achievement has been duly mirrored in the stock market, as companies operating in the defence sector experienced substantial...

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Moneylife Digital Team 02 June 2023
INDIAN MARKET TRENDS From 26th May to 1 June 2023, ML Micro-cap Index rose 3%. ML Mid-cap Index and ML Large-cap Index rose 2% each. ML Small-cap Index rose 1%. ML Mega-cap Index, the NIFTY and the Sensex ended flat.     FUND FLOWS Foreigners: Foreign...

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Moneylife Digital Team 02 June 2023
The best three and the worst three mutual fund schemes over the past three years ranked by their quarterly rolling returns. Premium members get access to a more refined list of top schemes by logging into Moneylife Advisory.  

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Moneylife Digital Team 02 June 2023
Info Edge (India) Ltd, the owner of Naukri, has started a forensic audit of Broker Network (operated by 4B Networks Pvt Ltd) founded by Rahul Yadav for repeatedly failing to provide information on financial transactions and transactions with related parties, among other things. Allcheckdeals...

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One of the women grapplers, who have levelled sexual harassment allegations against Wrestling Federation of India (WFI) chief Brij Bhushan Sharan Singh, has accused him of touching her inappropriately.   In the FIR filed by the Delhi Police, the wrestlers have given the details of the...

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Moneylife Digital Team 01 June 2023
Here is some good news for customers who are unnecessarily forced to share their mobile numbers by shopkeepers while buying products from the shop. In an advisory, the Union ministry of consumer affairs has warned shopkeepers not to demand mobile numbers from customers.   In the...

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Moneylife Digital Team 01 June 2023
Technical glitches on the income-tax (I-T) portal continue to give a hard time to taxpayers as well as tax professionals. Citing heavy traffic, the I-T department announced providing a couple of days for filing the statement of financial transactions (SFT), erstwhile annual information...

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Irate villagers of Karjat-Hastpokhari in Maharashtra's Jalna district recently 'lifted up' a newly-laid road under the Prime Minister Rural Road Scheme, ostensibly to highlight the poor quality of construction of the village thoroughfare.   An undated video of the villagers accusing...

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