Business Standard - August 12, 2024

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August 12, 2024

NPCI to level up UPI play with BHIM spin-off

Appoints Lalitha Nataraj CEO of arm

2 mins

From Paris, with love: A 'brand' welcome awaits India's Olympic stars

A fortnight ago, India's Olympic contingent arrived in Paris feeling sanguine about their chances of a double-digit medal tally.

3 mins

Soon, NIRF-like ranking for ITIs to boost skilling quality

The Ministry of Skill Development and Entrepreneurship (MSDE) is soon going to release the first-ever ranking of nearly 15,000 Industrial Training Institutes (ITIS) across the country, a senior government official said.

2 mins

Sebi and Buchs rebut Hindenburg charges

Find support from market participants; Adani group dubs latest report mischievous

4 mins

Used cooking oil over ethanol: Govt's new route to 5% biodiesel blending

The government had been planning to use ethanol to meet its target of blending 5 per cent biodiesel in diesel sales by 2030, but the volatility in ethanol production volumes has forced it to shelve the plan, officials said.

2 mins

Firms in a fix over delayed implementation of rules

India's data protection law-the Digital Personal Data Protection Act (DPDPA) will complete its first year on August 12, 2024.

2 mins

Quick commerce may be the flavour of this festival season

E-commerce firms to hire additional workers to ensure smooth operations, on-time deliveries

2 mins

Automakers hit the gas on launches

With the festive spirit stirring across India, automobile (auto) makers are shifting into high gear with a series of vehicle launches.

2 mins

'May look to bring Liraglutide through clinical trial waiver'

The peptides and GLP-1 class of drugs that are offering breakthrough treatment for diabetes and obesity are estimated to be a $100 billion global opportunity by 2030. As patents keep expiring, companies like Biocon are well positioned to make the most of this opportunity. Speaking to Sohini Das and Aneeka Chatterjee over a video call, KIRAN MAZUMDAR-SHAW, executive chairperson, Biocon and Biocon Biologics, outlines how being vertically integrated puts Biocon in a strong position. Edited excerpts.

3 mins

Hero Electric resumes production

Seeks up to ₹200 crore to rev up output

1 min

Oyo parent Oravel raises ₹1,457 crore

Oravel Stays, the parent company of Oyo, has raised ₹1,457 crore from a consortium of investors in its latest funding round, sources said.

1 min

UP tax waiver on hybrids to stay

In a meeting with automakers, state govt makes it clear it has no plans to rescind the waiver New Delhi/Lucknow, 11 August T The Uttar Pradesh government made it clear on Sunday that it had no plans to rescind the full waiver of registration fees on plug-in and strong hybrid cars, following an intense hour-long meeting with major Indian automakers.

3 mins

A red herring, says Adani group

The Adani group has dismissed the latest allegations from the US-based short seller as a \"red herring\".

1 min

Oppn calls for JPC probe, suspension of Buch

Constituents of the Opposition INDIA bloc on Sunday demanded a joint parliamentary committee (JPC) probe into the allegations of USbased short-seller Hindenburg Research against Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch and her husband, Dhaval Buch.

2 mins

Now, Dhaval twist to the tale

Dhaval Buch, husband of Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch, has come into the spotlight after the latest Hindenburg Research report claimed the couple had investments in the same offshore entities that were allegedly to inflate Adani group stock prices.

2 mins

IPE-Plus Fund 1 didn't invest in Adani stocks: 360-One

Says fund in which the Buchs invested focused on debt, maintains no investor had any role in its ops

2 mins

Mkts unlikely to witness long-term hit

Development may have short-term sentimental effect, say analysts

2 mins

'Dhaval not linked to Blackstone Reit'

There is no relationship between the real estate investment trust (Reit) floated by the US-based private equity (PE) major Blackstone and its senior advisor Dhaval Buch, husband of Securities Exchange Board of India (Sebi) Chairperson Madhavi Puri Buch, according to a senior source at Blackstone.

1 min

Sebi: One probe remains in Adani-Hindenburg matter

The markets regulator, Securities and Exchange Board of India (Sebi), on Sunday asked investors to exercise caution and due diligence before reacting to reports, such as those from American short-seller Hindenburg Research.

2 mins

RBI mops up ₹11.6K cr via OMOS in July amid liquidity surplus

The Reserve Bank of India (RBI) did outright open market operation (OMO) sales of government securities worth ₹11,675 crore in July in order to drain out excess liquidity from the banking system, according to the latest data by the RBI.

1 min

General insurers seek 2-month extension

General insurers seek an extension in deadline until December 2024 from the regulator to comply with the revised master circular guidelines on health insurance products, people aware of the development told Business Standard.

1 min

Districts set to compete for model solar village funds

Centre rolls out guidelines under PM Surya Ghar Yojana with grant of ₹1 crore per village

2 mins

India needs to do more to win over people of B'desh

After weeks of civil unrest that forced the resignation of the Sheikh Hasina-led government, an interim government headed by Nobel laureate Muhammad Yunus has taken over in Bangladesh, hoping to end the persistent targeted violence quickly, and move on to hold elections in the next few months and bring in a government with due legitimacy.

2 mins

PM unveils Bt cotton, 108 other high-yielding seed varieties

Prime Minister Narendra Modi on Sunday unveiled 109 high-yielding, climateresilient, and biofortified seed varieties, including Bt cotton suitable for rain-fed areas, to enhance agricultural productivity and farmers' income.

1 min

INDIA'S BANGLADESH BETS SURGED BEFORE CRISIS

India has over the years stepped up its economic bets in Bangladesh, where an interim government has been formed after Sheikh Hasina resigned as Prime Minister and fled amid a mass uprising that left hundreds of people dead.

1 min

CM who tried to break ground

Buddhadeb Bhattacharjee took charge to bring West Bengal on India Inc's investment map. He died with the dream unfulfilled,

4 mins

Unrest may be bitter pill for health-care tourism

Sector experts fear the ongoing turmoil in Bangladesh could deal a blow to India's healthcare exports.

2 mins

To the top, by dint of merit

TV Somanathan, soon to become Cabinet secretary, has acquired the reputation of being a civil servant who could work with leaders of different political parties with equal ease and effectiveness, writes A K BHATTACHARYA

3 mins

Disney plots villains-themed land, new ships in big resorts push

Walt Disney Experiences Chairman Josh D'Amaro laid out an ambitious growth plan for the company's theme parks at the D23 fan convention, announcing plans for four new cruise ships and details about six new themed lands.

1 min

Olympic brand gets Paris Games reboot, raises bar for LA

Against all odds, the Paris Olympics have delivered.

2 mins

Youth jobless rate fell globally to 15-year low in 2023: ILO

Resilient economic growth after the Covid-19 pandemic coupled with a strong rebound in labour demand has improved the global labour market outlook for young people belonging to the 15-24 age group, according to a report released by the International Labour Organisation (ILO) on Monday.

2 mins

Will never meddle: Harris vows to keep Fed independent

Plans to unveil policy positions on economy this week

1 min

GPS spoofers 'hack time' on commercial airlines

A recent surge in GPS 'spoofing', a form of digital attack which can send commercial airliners off course, has entered an intriguing new dimension, according to cybersecurity researchers: The ability to hack time.

1 min

A leg-up from Sebi

The Securities and Exchange Board of India (Sebi) has unveiled a consultation paper to revise the regulatory framework governing investment advisors (IAS) and research analysts (RAS).

4 mins

Dhaka's next tasks

Stability and economic progress will have to be restored

2 mins

Invention factory: New India dawning

Invention versus innovation

4 mins

Paris blues

India had many near misses at Olympics

2 mins

Fed's September rate cut unlikely to alter RBI stance'

RAJEEV RADHAKRISHNAN, chief investment officer (fixed income) at SBI Mutual Fund, remains optimistic about the demand-supply dynamics, citing sustained overseas demand as a key factor. In an email exchange with Abhishek Kumar, Radhakrishnan notes that global central banks' potential policy easing could further bolster demand. However, he cautions that portfolio flows into India may be vulnerable if the economic slowdown expands beyond the US, potentially impacting investor sentiment. Edited excerpts:

2 mins

A balanced diet of serving up safety with a side of yield

Launched in January 2010, the ICICI Prudential Banking & PSU Debt Fund has consistently ranked within the top 30th percentile of the banking and public sector undertaking (PSU) fund category in the CRISIL Mutual Fund Ranking (CMFR) for the past three quarters ending June 2024.

1 min

Trent's expansion seamlessly tailors its growth success

Cuts a sharp figure on retail runway while peers falter

3 mins

Pair base policy with topup to combat rising health premiums

Buying a multi-year policy will also help you rein in costs

3 mins

How to make tax officials accountable

A friend, Kalpesh, recounted an interaction with an Income Tax Officer (ITO) from a decade ago.

2 mins

Idea behind SROs is not to make them more regulatory'

In March, the Reserve Bank of India came out with a framework on self-regulatory organisations (SROs). Since then, industry bodies in finance have shown interest in setting up SROs. It is early days even as there are concerns over dual membership and SROs' scope. ANISH MASHRUWALA, partner, JSA Advocates and Solicitors (and co-chair of the finance practice and head of its banking & finance group), spoke with Raghu Mohan on these issues in a telephonic interview. Edited excerpts:

3 mins

PET PROJECTS

Why state-run oil companies are spending billions on petchem capacity, amid oversupply and weak margins

4 mins

Bank deposits: Barking up the wrong tree?

Despite efforts to boost deposit growth, credit growth is outpacing deposits. Traditional strategies are not working. Are we missing the big picture?

5 mins

Prices spoil the taste of platter

Following the monetary policy committee meeting last week, Reserve Bank of India (RBI) Governor Shaktikanta Das said that India's inflation targeting could not ignore the \"pressures\" of food inflation.

1 min

Nehruvian who fell out with Cong

Kunwar Natwar Singh, former foreign minister, India's ambassador to Pakistan during a critical period in the relations between the two countries, and an important influence in guiding India's foreign policy that went far beyond the formal positions he held, died in Delhi at 93.

2 mins

More friendly: IEPFA reaches out to investors

The Investor Education and Protection Fund Authority (IEPFA) is coming up with a raft of measures, including holding an investors' appeals event, to make it more approachable and claimant-friendly, besides resolving some of its systemic issues, according to official sources.

1 min

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