Business Standard - August 22, 2024

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August 22, 2024

Census exercise may finally kick off next month

The government is likely to begin conducting a long delayed population census in September, two government sources said, as Prime Minister Narendra Modi looks to plug important data gaps in his third term.

1 min

I-T officials issue 10,000 notices to reopen cases

These may involve undisclosed income of $15K cr

2 mins

'Smells of predatory pricing": Goyal red-flags e-com boom

Questions Amazon's India investment strategy, says it is to make up for losses

2 mins

PSBs propose to hold govt cash balances now

At a time when deposit growth remains sluggish, trailing credit off take, public sector banks have made a strong appeal to the finance ministry urging that government cash balances be held by them, rather than the Reserve Bank of India (RBI).

2 mins

Ponzi-like tactics of P2P lenders in RBI crosshairs

A series of regulatory violations, including acting like Ponzi schemes, accepting deposits without authorization, and concerns about coercive recovery practices, prompted the Reserve Bank of India (RBI) to crack down on these E-C players, sources aware of the s development said.

2 mins

Lenders seek another round of bidding for KSK Mahanadi

Look to better Adani's ₹27,000 cr offer

1 min

Paytm to sell ticketing, entertainment biz to Zomato for ₹2,048 cr

One 97 Communications Limited, which owns the Paytm brand, on Wednesday, said it will sell its entertainment ticketing business to food delivery platform Zomato for ₹2,048 crore.

1 min

Online vs offline retail: Industry divided over Goyal's comments

Sparks debate over large e-commerce players eating into share of smaller offline retailers

2 mins

Decathlon to invest ₹900 crin India in 5 yrs

French sports goods retailer Decathlon on Wednesday announced plans to invest €100 million (approximately ₹900 crore) over the next five years to expand its presence in the country.

1 min

Maruti to talk CBG production expansion with Centre, states

Maruti Suzuki India (MSIL) will hold discussions with the Centre and state governments on how the production of compressed biogas (CBG), which can be used in vehicles that run on compressed natural gas (CNG), can be expanded in the country, its majority shareholder Suzuki Motor Corporation (SMC) said.

2 mins

Rajesh Nambiar appointed Nasscom president-designate

Steps down as Cognizant India chairman and MD, to succeed Debjani Ghosh

1 min

Trai may clear the air on OTT licensing by mth-end

Telcos reiterate that OTT communication covered under new Telecom Act

1 min

Ex-TechM India prez launches Humanize

Tech Mahindra India's former president Jagdish Mitra (pictured) has announced his entrepreneurial venture with the launch of Humanize, a Generative AI-powered software-as-aservices company.

1 min

Corporate sector employment growth declines to 1.5% in FY24: BOB

The growth of employment in the corporate sector slowed to 1.5 per cent in FY24 from 5.7 per cent in FY23, as merely 90,840 new people got employment, compared to 333,000 people gaining employment in FY23, the latest report released by Bank of Baroda (BOB) on Wednesday showed.

1 min

$300mn earmarked for flood mitigation

The government will spend nearly $300 million (about ₹2,500 crore) in two years to expand water bodies like lakes and build drains in seven cities including Mumbai, Chennai and Bengaluru to mitigate floods and conserve water, Krishna S Vatsa, one of the three members of the National Disaster Management Authority, told Reuters.

1 min

FM tells RRBS to reduce high attrition rates

Union Finance Minister Nirmala Sitharaman has asked regional rural banks (RRBs) to adopt more employee-friendly policies to reduce attrition rates, according to two senior bankers who participated in a meeting held in New Delhi.

2 mins

Govt makes recycling push for non-ferrous metal products

The Centre has come out with a detailed road map to reduce industrial waste, mandating that all new products made from non-ferrous metals will have to contain a minimum of 5 per cent recycled content beginning financial year 2028 (FY28).

1 min

NHAI rolls back free access in case of excess waiting time

The National Highways Authority of India (NHAI), three years after implementing a free-flow policy in the case of excess waiting time, has withdrawn the provision from its toll plaza management guidelines.

1 min

GST notices of ₹80K cr sent out for AY18-22

Alleged shortfall in tax paid, reversal of ITC among reasons

2 mins

IBA to take up foreign bank concerns with RBI

Indian Banks' Association (IBA), a representative body of Indian banks and financial institutions, will discuss the matter of mandatory local data storage with the Reserve Bank of India (RBI) on behalf of foreign banks.

1 min

Funding constraints may slow NBFCs' growth: ICRA

Non-banking financial companies (NBFCs) are expected to face challenges related to funding availability, which could slow their growth compared to the strong expansion seen in the past two financial years, 四 according to a report by ICRA.

1 min

Ireda to float ₹4,500 crore FPO

Public sector non-banking financial company (NBFC) Ireda Limited will issue a follow-on public offering (FPO) of ₹4,500 crore.

2 mins

Deposit rates better mimic policy rate changes than credit

RBI data shows PSBS effected higher increase in interest rates on term deposits compared to their private sector peers

1 min

DMI Finance set to raise funds from MUFG at $3 billion valuation

Indian shadow bank DMI Finance Pvt said it's raising fresh funding from Japan's Mitsubishi UFJ Financial Group Inc.at a valuation of about $3 billion as it seeks to ramp up its lending.

1 min

UK to speed up returns, curb illegal migration

Keir Starmer's government pledged to increase deportations of people with no legal right to stay in the United Kingdom (UK) to the highest rate in five years, an effort to show it is responding to Britons' concerns about rising immigration.

1 min

Walmart sells entire JD.com stake for $3.7bn

REUTERS 21 August Walmart, the biggest shareholder of Chinese e-commerce firm JD.com, has sold its entire stake, according to a person familiar with the matter, exiting an eight-year investment to focus on its own operations in China.

1 min

Obamas electrify crowd but warn of tight race

Barack and Michelle Obama delivered blistering critiques Republican nominee Donald Trump while painting Vice-President Kamala Harris as the heir of their historic political legacy in addresses that capped the second night of the Democratic National Convention (DNC).

1 min

China opens probe into European dairy imports

China has opened an anti-subsidy investigation into imported dairy products from the European Union (EU), a step that appears mainly aimed at Ireland and in response to the bloc's curbs on its electric vehicle exports.

1 min

How tech companies are obscuring Al's real carbon footprint

Tech companies' relentless push into artificial intelligence (AI) is coming at an undisclosed cost to the planet.

2 mins

Ukraine attacks Russia with over 45 drones

Moscow claims it to be the 'biggest' drone attack the city has ever faced

1 min

Investment revival

Among the four drivers of the economy - private consumption, investment, government spending, and exports-government spending, particularly through capital expenditure, has been the predominant force behind India's growth in recent years.

2 mins

Budget's urban plan

As India's urbanisation picks up pace, with over 35 per cent of its population currently living in cities and over 50 per cent expected to urbanise by 2050, the government's push towards prioritising urban development could not have been more timely.

3 mins

Tibet and India's China conflict

Sulmaan Wasif Khan's slim volume of 177 pages is part of the ongoing New Cold War project of the Wilson Centre, drawing upon the wealth of archival material that became available, though briefly, in Russia and the People's Republic of China (PRC) after the end of the Cold War.

3 mins

Who will guard the guardians?

Parliament needs to institute oversight mechanisms for regulators, who oversee markets, without compromising their autonomy

4 mins

Andhra to woo investors armed with green policy

Brookfield to pump ₹50K cr into developing renewable energy project

2 mins

BJP set to win unopposed on nine of 12 Rajya Sabha seats

The 12 vacancies in the Rajya Sabha (RS) are set to be filled without voting, which will see the Bharatiya Janata Party (BJP) win nine seats, including two that it will wrest from the INDIA bloc, helping it inch closer to a 100 seats by the winter session in the 245member Council of States.

2 mins

DSR DAWDLE

Despite all benefits, adoption of direct seeding of rice has been woefully low among farmers due to fear of yield loss because of weeds

5 mins

Lakshadweep takes off, Maldives out of favour

April-June passenger traffic to Indian island doubled from year-ago qtr

2 mins

AIIMS forms panels for safety audits

The All India Institute of Medical Sciences (AIIMS), New Delhi, on Wednesday appealed to striking resident doctors to resume duties in the interest of patient care, saying a collaborative internal security audit will be conducted to assess safety and security measures within the campus.

1 min

Equity exposure of BAFS dips as valuations reach new highs

HDFC BAF's exposure drops below 50%, ICICI BAF's at 20-month low

2 mins

NCLT approves delisting of ICICI Securities

Dismissing objections raised by minority shareholders, the National Company Law Tribunal (NCLT)-Mumbai on Wednesday approved the delisting of ICICI Securities from the stock exchanges.

1 min

Brokerages stop referral schemes after NSE diktat

Several brokerages have discontinued their referral programmes after a circular issued by top bourse National Stock Exchange (NSE) prohibited them from offering incentives to referrers unless they are registered authorised persons (APs).

1 min

Sebi's rights issue reset may need tightrope walk

Legal experts say reduced timeline welcome but some proposals may compromise quality of issuances

2 mins

Keep LTV below 75% to avoid topping up collateral on price fall

Despite the Reserve Bank of India's (RBI) directive in May 2024 limiting cash disbursements ₹20,000, the popularity of gold loans remains undiminished, according to rating agency CRISIL.

2 mins

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