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Byju’s is set to go down as the most spectacular corporate flameout. Little more than a year ago, India boasted five decacorns, an elite group of only 47 start-ups around the world valued at US$10bn (billion). Of these, the most valuable Indian decacorn was Byju’s. Despite a loss of Rs4,588...

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Moneylife Digital Team 27 February 2024
It is in the business of water supply systems (WSP), wastewater scheme projects (WWSPs), electrical transmission & distribution (T&D), road and allied works. WWSPs include sewage treatment plants (STPs) along with sewage network schemes and common effluent treatment plants (CETPs) and water...

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Moneylife Digital Team 27 February 2024
Reserve Bank of India (RBI) has imposed a Rs82 lakh penalty on City Union Bank Ltd and Ocean Capital Market Ltd, a non-banking financial company (NBFC), for violating various rules and regulations.    City Union Bank has been penalised with Rs66 lakh for non-compliance with directions...

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Moneylife Digital Team 27 February 2024
Exicom Tele-Systems Ltd is a power management solutions provider, operating under two business verticals: critical power solutions business and electric vehicle (EV) supply equipment. In its critical power solutions business, it designs, manufactures, and services DC Power Systems and Lithium...

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IANS 27 February 2024
Considering the recent regulatory developments and commentary, growth momentum in unsecured personal loans category is likely to derail in the coming quarters, ICICI Securities said in a report.   NBFCs are witnessing a very strong credit cycle, both in terms of growth as well as...

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IANS 27 February 2024
The Lucknow bench of the Allahabad High Court has directed the state government to pay old age pension to those petitioners who do not have Aadhaar cards and mobile phones, after verifying their genuineness through bank records.   The order was passed by a division bench of Chief...

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IANS 27 February 2024
The Reserve Bank of India (RBI) announced on Monday that it has imposed penalties on the State Bank of India (SBI) and Canara Bank for non-compliance with banking regulations and RBI directions.   The RBI in an order dated February 26 slapped a penalty of Rs 2 crore on State Bank of India for...

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IANS 27 February 2024
The Income Tax (I-T) Department said on Monday that it has identified certain mismatches between the information received from third parties on interest and dividend income, and the Income Tax Return (ITR) filed by the taxpayers. In many cases, the taxpayers have not even filed their...

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IANS 27 February 2024
Finance Minister Nirmala Sitharaman on Monday held a meeting with the heads of several fintech companies and startups during which she emphasised the need for strict adherence to official regulations and giving paramount importance to the protection of consumer interests, a senior official...

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IANS 27 February 2024
Leading financial services company Paytm said on Monday that its founder and CEO Vijay Shekhar Sharma has stepped down as Non-Executive Chairman and Board Member of Paytm Payments Bank Ltd (PPBL), as the Reserve Bank of India (RBI) ban on the bank's operations inches closer.   In a BSE...

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Moneylife Digital Team 26 February 2024
Holding chartered accountant (CA) Ratan Laxminarayan Rathi, the engagement partner (EP), guilty of professional misconduct while performing the statutory audit of Bilcare Ltd for the financial year (FY)14-15 to FY16-17, the national financial reporting authority (NFRA) imposed a penalty of...

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Moneylife Digital Team 26 February 2024
Market regulator Securities and Exchange Board of India (SEBI) has urged investors to exercise caution and to steer clear of any social media messages, WhatsApp groups, Telegram channels, or apps claiming to facilitate stock market access through foreign portfolio investors (FPIs) or foreign...

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Moneylife Digital Team 26 February 2024
The product portfolio of Platinum Industries Ltd (Platinum) encompasses polyvinyl chloride (PVC) stabilisers, chlorinated PVC (CPVC) additives and lubricants. Its products are used in PVC pipes, PVC profiles, electrical wires & cables, SPC floor tiles, packaging materials, etc. Platinum ranks...

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Moneylife Digital Team 26 February 2024
Passenger vehicle (PV) volume will ascend to a new peak for the third straight time next fiscal, growing 5%-7% on a high base of 6%-8% estimated for the current fiscal, as sport utility vehicles (SUVs) race ahead even as demand for cars and exports remains muted, says a research...

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Moneylife Digital Team 26 February 2024
Reliance Industries Ltd (RIL) and Reliance Foundation have launched the Vantara (star of the forest) programme, an umbrella initiative focusing on the rescue, treatment, care and rehabilitation of injured, abused and threatened animals in India and abroad. Spread over 3,000 acres within the...

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IANS 26 February 2024
Credit rating agency S&P Global Ratings on Monday said semiconductor chip-makers must focus on managing their water resources as water security will be an important factor in their credit profiles.   As per the credit rating agency, climate change is testing the...

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IANS 26 February 2024
As the government expedites the inspection of financial books of embattled ed-tech major Byju's, the company said on Monday that it has responded with all necessary responses along with documents to the ministry of corporate affairs (MCA) and is hoping an early closure of the...

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IANS 26 February 2024
Eligible industries and commercial units in Mumbai's redeveloped Dharavi will be entitled to enjoy several benefits, including a refund of state goods & services tax (SGST) for five years, the Dharavi Redevelopment Project Pvt Ltd (DRPPL), a joint venture (JV) of Maharashtra and Adani group...

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IANS 26 February 2024
Shree Cement has received an assessment order against the demand of Rs261.88 crore from the income-tax (I-T) department.   The company has received assessment order on 24th February passed under Section 143(3) of Income-tax Act, 1961, pertaining to AY2021- 22, wherein certain...

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Moneylife Digital Team 26 February 2024
On Monday, 1710 stocks advanced, 2268 declined and 130 remained unchanged, with an advance decline ratio of 0.75 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets. The trend of the major indices on Monday’s trading is given in the table...

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