In Other News

Friday, Apr 19, 2024 | Last Update : 03:45 PM IST

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The CBI has registered a case against Gujarat- based ABG Shipyard and its directors for allegedly cheating 28 banks of Rs 22,842 crore, in the biggest bank fraud taken up by the agency. The finance minister said while it takes 52 months to 56 months to detect such frauds, less time was taken to detect it and take action under the present government. — PTI

ABG fraud detected relatively faster: FM

Nirmala Sitharaman defended the five years taken to file the first fraud complaint in the Rs 22,842 crore loan default by ABG Shipyard

15 Feb 2022 9:31 AM

We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity; they have no underlying cash flows, they have no intrinsic value; that they are akin to ponzi schemes, and may even be worse, Sankar added. — PTI

RBI Deputy Governor calls for outright cryptocurrency ban

Crypto-technology is underpinned by a philosophy to evade government controls, says deputy governor T. Rabi Sankar

15 Feb 2022 9:29 AM

Data & analytics spending is expected to witness robust growth driven by increased adoption of next-generation advanced analytics applications. — Representational image/DC

Analytics players tap digital boom

Latent View Analytics raised Rs 600 crore from the primary market last year in a highly successful fund raising exercise

14 Feb 2022 8:32 AM

LIC has 66 per cent market share in new business premiums with 283 million policies and 1.35 million agents as of March 31, 2021, Pandey added in the tweet. — PTI

Govt to sell 5% stake in LIC; embedded value at Rs 5.4 L cr

The LIC policyholders and LIC employees will be offered equity shares at a discount to the public issue price to be set by the company

14 Feb 2022 8:23 AM

Eminent industrialist Rahul Bajaj dies at 83

President Kovind and PM Modi expressed grief at the demise of Bajaj and recalled his contributions to the world of industry

13 Feb 2022 7:40 AM

In barely three years, Adani has gained control of seven airports and almost a quarter of India’s air traffic. (Bloomberg)

Gautam Adani overtakes Mukesh Ambani as Asia’s richest person

With an almost $12 billion jump in his personal fortune, Adani is the world’s biggest wealth-gainer this year

08 Feb 2022 2:03 PM

Subsequently, we see two repo rate hikes of 25 basis points each over the next two reviews given the lingering uncertainty caused by the third wave, we expect a status quo on Thursday. — AA Image

MPC may hold back rate hike

Policy normalization is set to commence in April with a stance change and reverse repo hike

07 Feb 2022 2:02 AM

On the asset quality front, gross bad loans or non-performing assets (NPA) declined to 10.46 per cent of gross advances at the end of December 2021 as against 13.25 per cent in the year-ago period. — Representational image/DC

Bank of India posts 90% jump in Q3 profits

The net interest income key indicator of profitability, declined by 8.9 percent at Rs 3,408 crore against Rs 3,740 crore in Q3FY21

05 Feb 2022 10:52 AM

According to Pande, expenditure towards medical and public health is a key component in the budgetary allocation of the ministry for health and family welfare like Central Government Health Scheme, National Aids Control Organisation and National Health Authority, which runs Ayushman Bharat scheme. — PTI

Centre slashes healthcare spending by Rs 33,809 crore

The Budget estimates that the requirement for vaccination would be lesser in the coming fiscal year with many being vaccinated

05 Feb 2022 10:47 AM

Trade in intermediate goods, which are inputs used to produce a final product, is an indicator of the robustness of global supply chains. — DC Image

Intermediate goods imports post growth

For the third consecutive quarter, India had the highest growth of intermediate goods imports of 65 per cent

05 Feb 2022 10:30 AM

Currently, post offices provide savings account services and payments bank services through the India Post Payments Bank. (Representational Image/DC)

Post offices to be linked to bank network, ATMs

The minister also announced setting up 75 digital banking units (DBUs) in 75 districts by scheduled commercial banks

02 Feb 2022 6:49 AM

Contrary to the trend of past several years, buying was not confined to emerging markets in 2021. For the first time in almost a decade, there was significant buying from developed market central banks. The Monetary Authority of Singapore bought gold for the first time after 21 years and Ireland since 2008. — DC Image

RBI’s 77 tonne gold buy is 2nd highest

RBI's gold reserves stood at 676.6 tonnes at the end of 2020, which probably has now gone up to 753 tonne

29 Jan 2022 8:54 AM

Around half of the trade agreements concluded between different countries in the last decade (2011-2020) contained labour provisions. However, only 22 per cent of the agreements signed in the previous decade (2001-2010) had those provisions. — Representational image/By arrangement

Trade pacts junk labour provisions

The ILO Centenary Declaration for the Future of Work (2019) calls for countries to place decent work as a central objective of trade policy

28 Jan 2022 11:45 AM

Any recoveries made as a result of avoidance applications should go to the creditors of Dewan Housing Finance Corp and not to the successful bidder—Piramal Group, the NCLAT ruled. — DC Image

NCLAT asks CoC to consider 63 Moons appeal in DHFL resolution

63 Moons said the CoC has to reconsider the provision of Sec 66 of IBC, which mandates that the benefit should go to all the DHFL creditors

28 Jan 2022 11:22 AM

The study had said that an annual wealth tax in India would raise $78.3 billion a year with a 2 per cent tax on those having wealth over $5 million, 3 per cent on wealth over $50 million and 5 per cent on wealth over $1 billion. — DC file photo

Most Indians want tax on the rich, top firms

As high as 89 per cent of the respondents also want the government to impose fines on pvt companies that do not fulfil environmental norms

28 Jan 2022 11:18 AM

Large transactions included the acquisition of Jio Platforms by Facebook's subsidiary Jaadhu for $5.7 billion, the acquisition of Tower Infrastructure Trust by Brookfield and GIC Singapore for $3.7 billion and the sale of the electrical and automation division of L&T India for $2.1 billion. — Representational image/DC

FDI inflow dips 26% in 2021: Unctad

The decline in FDI in 2021 was mainly because large mergers and acquisitions (M&A) deals recorded in 2020 were not repeated last year

21 Jan 2022 7:40 AM

While a large number of death claims continued to be reported during the first two quarters of 2021-22, the potential claims from the current omicron third wave has shown reduced severity of the disease. — By arrangement

Insurers tighten rules, raise rates

Data from the IRDA of India shows the death claims from both individual and group policies combined rose by 41 per cent to Rs 41,451 crore

21 Jan 2022 7:32 AM

The NCLAT issued notices to the CCI and Future Coupons in the plea and asked them to submit replies within 10 days. The case will be heard on February 2. — DC Image

NCLAT issues notices to CCI, Future Coupons on Amazon plea

The appellate tribunal admitted the petition filed by Amazon challenging the CCI order

14 Jan 2022 9:27 AM

Gold has historically performed well amid high inflation. In years when inflation was higher than 3 per cent, gold's price increased 14 per cent on an average. — DC Image

Gold may brave headwinds as a risk-hedge: WGC

Inflation will remain high, partly stemming from the unprecedented monetary and fiscal policies put in place to alleviate effects of Covid

14 Jan 2022 9:24 AM

The bonds will be listed on Taipei Exchange, Singapore Exchange Securities Trading and India International Exchange IFSC. Formosas are foreign-currency bonds, raised in Taiwan and generally listed on the Taipei exchange. — DC Image

SBI raises $300 mn via Formosa bonds

The bond is benchmarked against the 5-year US treasury and priced at a spread of 100 basis points over the benchmark

14 Jan 2022 9:13 AM

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Mohan Guruswamy