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Reserve Bank of India (RBI) governor Shaktikanta Das said on Thursday that crypto-currencies (cryptos) are a clear danger to the financial systems, adding that we must be mindful of the emerging risks on the horizon.   In RBI's annual financial stability report (FSR) 2022, he wrote in...

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Vinita Deshmukh Vinita Deshmukh 01 July 2022
It has been over three months since Pune's Salisbury Park Residents Forum (SPRF) members have been fighting a tenacious, peaceful battle against the BJP (Bharatiya Janata Party) corporator, having put up a board of his father's name to a new public garden in the neighbourhood.   Last...

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The US Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against a South African company and its CEO (chief executive officer) for running a fraudulent commodity pool worth over US$1.7bn (billion) in Bitcoin—the largest  fraudulent scheme involving Bitcoin...

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Moneylife Digital Team 01 July 2022
The Securities and Exchange Board of India (SEBI) has imposed penalties totalling Rs1.6 crore on seven entities including Kotak Asset Management Company (AMC), its managing director (MD) Nilesh Shah, chief investment officer (debt) Lakshmi Iyer, and four other senior company officials for...

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The Reserve Bank of India (RBI) has slammed unbacked crypto assets (such as Bitcoin), stable-coins and decentralised finance (DeFi) and crypto asset trading platforms, underscoring the need for regulatory guardrails to ensure financial stability and consumer and investor...

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Moneylife Digital Team 01 July 2022
The Securities and Exchange Board of India (SEBI) on Thursday issued a fresh cybersecurity and cyber-resilience framework for stockbrokers and depository participants.   As per the new framework, stockbrokers and depository participants must report any cyber-attack, cyber-threat or...

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Moneylife Digital Team 01 July 2022
Securities and Exchange Board of India (SBEI) has extended the deadline for implementation of the guidelines related to pledging and repledging of stocks for margin purpose  by two months to 1st September. With the implementation of the guidelines, Power of Attorney (PoA) would be replaced...

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Meta-owned WhatsApp on Friday said that it banned over 19 lakh bad accounts in India in the month of May in compliance with the new IT Rules 2021.   The platform had banned over 16.6 lakh bad accounts in India in April.   The company also received 528 grievance reports in May...

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Moneylife Digital Team 01 July 2022
We had mentioned in Thursday’s closing report that Nifty and Sensex looking weak. On Friday, the indices opened gap down and ended in the red. On the National Stock Exchange (NSE), 1,147 stocks advanced, 929 declined, and 76 remained unchanged with advance decline ratio of 1.23.   The...

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Moneylife Digital Team 30 June 2022
Reserve Bank of India's (RBI) clarification that prepaid payment instruments (PPIs) like e-wallets and prepaid cards may not be allowed to extend credit through these instruments, forms part of an overall tightening of digital financial services regulation. While the regulatory changes will...

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Moneylife Digital Team 30 June 2022
Following an alert by Google Play about Slice app being harmful and attempts to access users' personal data, the fin-tech company says it has updated its app, after which the alert has been removed. However, there is no information available about how the Slice app collects, shares, and...

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In a surprise move, the BJP (Bharatiya Janata Party) has given the post of chief minister (CM) to Shiv Sena rebel Eknath Shinde, in a bid to take along Sena cadre and pacify the ground-level workers and isolate the Thackarey family from the Shiv Sena as the rebels were claiming that they are...

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Moneylife Digital Team 30 June 2022
Have you, as a customer, received a bad product, faced billing and quality issues and been frustrated at the lack of response to your angry complaint? While there is no antidote to companies that don’t care or have a poor grievance redress mechanism, it is also possible that the structure of...

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Moneylife Digital Team 30 June 2022
Arvind Fashions (AF) is a premium and mass premium branded apparels, footwear, beauty and accessories retailer with significant online presence. Its own denim brand Flying Machine is among the top-3 denim brands on Flipkart. Its international brand portfolio includes renowned brands such as...

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Moneylife Digital Team 30 June 2022
VRL Logistics Ltd (VRL), a goods and passenger transportation company, is primarily focused on the LTL (less-than-truckload) segment (90% of revenues) followed by a 7% contribution from the passenger bus service segment. Unlike most other players, it operates its own fleet of 4,816 trucks...

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Moneylife Digital Team 30 June 2022
Securities and Exchange Board of India (SEBI) has barred Parsvnath Developers from the securities market for six months and imposed a penalty of Rs15 lakh on the company for flouting listing rules. The company has been directed to pay the penalty within 45 days, SEBI said in an...

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Moneylife Digital Team 30 June 2022
From 1st July onwards, mutual fund investments cannot be initiated from a pool account. As per the Securities and Exchange Board of India  (SEBI), first the money has to go from the investor's bank account to the bank account of the mutual fund house. Accordingly, all stock exchanges-led...

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As startups in India keep firing their staff to navigate through the 'funding winter' and more than 60,000 can lose their jobs in 2022 alone, the country is preparing to welcome 200 unicorns in the next four years.   As thousands more brace themselves for being laid off, led by edtech...

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Online food-delivery platform Swiggy on Thursday said its employees will have the option to receive liquidity of up to $23 million against their employee stock ownership plans (ESOPs).   Swiggy announced the next round of ESOP liquidity to be held in July 2023.   This enables...

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Come 18th July, 18% Goods and Services Tax (GST) will be applicable on bank cheque book/loose leaf cheques and 12% on maps, atlas, and globes   Similarly, unbranded but pre-packed curd, lassi, butter milk, food items, grains, etc, will be brought under the GST net from the exemption...

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