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IANS 29 September 2022
The Finance Ministry on Thursday clarified that premature closure of an account under the Senior Citizens' Savings Scheme (SCSS) does not get triggered due to the death of account holder, but is applicable only when the account holder requests for the account's closure before the maturity...

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Moneylife Digital Team 29 September 2022
Here is some bad news for those who want to visit the US on a nonimmigrant visa. In India, the waiting time for an appointment for a visitor visa is a minimum of 582 days at Hyderabad to 848 days at the US consulate in Mumbai. In comparison, the waiting period for US visitor visas in Beijing...

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Yogesh Sapkale Yogesh Sapkale 29 September 2022
With the Reserve Bank of India (RBI)'s deadline for card tokenisation ending on 30th September (unless it is extended again), many debit and credit card holders are worried about making payments online after 1st October. As per RBI's framework for card-on-file (CoF) tokenisation (CoFT),...

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Moneylife Digital Team 29 September 2022
The Enforcement Directorate (ED) has virtually 'exonerated' Republic TV and R. Bharat -- English and Hindi news channels owned by Arnab R. Goswami, but the agency has booked 16 others of various private television channels and a market research group, for alleged money-laundering charges in...

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IANS 29 September 2022
The Enforcement Directorate (ED) on Thursday said it has frozen the bank balance to the tune of Rs 21.14 crore of OctaFx and related entities in the case of illegal online forex trading through international brokers namely OctaFx Trading App and website octafx.com under...

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Moneylife Digital Team 29 September 2022
Capital market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of stock broker Ficus Securities for mis-managing clients' funds and securities. The stock broker flouted regulatory norms during the period April 2015 to January 2018, SEBI said in its...

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IANS 29 September 2022
Cyber-security researchers on Wednesday revealed that hackers have compromised the swachh.city platform, an initiative of the Swachh Bharat Mission in association with the Ministry of Housing and Urban Affairs, that could put "critical information" of nearly 1.6 crore (about 16 million) users...

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Moneylife Digital Team 29 September 2022
Market regulator Securities and Exchange Board of India (SEBI) has levied a penalty of Rs10 lakh on ARG Management Solutions Pvt Ltd for indulging in manipulation of the share prices of Nutraplus India Ltd.   The order came after the market regulator conducted an investigation into...

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TruthInAdvertising.org 29 September 2022
This article highlights a trend in class-action litigation as identified by our Class-Action Tracker.    I scream, you scream, we all scream for … protein?   As the protein craze enters its ninth year, a wave of class-action lawsuits is challenging quantitative protein content...

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Sucheta Dalal Sucheta Dalal 28 September 2022
Now that the Gujarat International Finance Tec-City (GIFT City) is out of the shadows of the beleaguered Infrastructure Leasing and Financial Services (IL&FS), it is finally on its way to achieve a part of the promise showcased at Vibrant Gujarat in 2007, just before the global financial...

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Moneylife Digital Team 28 September 2022
Trouble seems to be brewing in the way Repco Home Finance Ltd (RHFL), a listed company with institutional holding, is being run. Moneylife has received exclusive information that the company's promoter, Repatriates Cooperative Finance and Development Bank (Repco Bank), has been trying to...

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Moneylife Digital Team 28 September 2022
The securities appellate tribunal (SAT) has stayed the Securities and Exchange Board of India’s (SEBI’s) order that had imposed a penalty of Rs30 lakh on Reliance Industries Ltd (RIL) and two of its compliance officers, Savithri Parekh and K Sethuraman, for not promptly disclosing the stake...

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Moneylife Digital Team 28 September 2022
Even as the Indian rupee has depreciated, to trade at an all-time low of 81.93 against the US dollar after the surge in the dollar index on Wednesday, State Bank of India (SBI) feels that the Reserve Bank of India (RBI) should allow the domestic currency to depreciate a bit further and find...

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Moneylife Digital Team 28 September 2022
Defence stocks have been buzzing lately as India is doubling down on indigenisation to cut down on imports. This creates new opportunities for India’s defence industry which has already delivered robust returns to investors in the past few months. Share prices of defence companies continued...

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IANS 28 September 2022
In an attempt to reduce claims litigation costs, individual policyholders complaints to Insurance Ombudsman, government owned National Insurance Company Ltd has decided to hire an Internal Ombudsman.   According to the company, the Internal Ombudsman shall deal with all...

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The Leaflet 28 September 2022
A division bench of the Supreme Court held on 23rd September that in a suit seeking permanent injunction, the unregistered document or agreement to sell on Rs10 stamp paper would not be admissible in evidence.   “Having conscious [sic] of the fact that the plaintiff might not succeed...

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IANS 28 September 2022
Cloud major Oracle will pay the US Securities and Exchange Commission (SEC) more than US$23mn (million) to settle charges against the company for bribing officials in India, Turkey and the United Arab Emirates (UAE), thus violating provisions of the Foreign Corrupt Practices Act (FCPA) in...

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IANS 28 September 2022
Some of the biggest Wall Street companies have been fined a total of US$1.8bn (billion) by US financial watchdogs after staff discussed deals and trades on their personal devices and apps.   The Securities and Exchange Commission (SEC) says the investigation uncovered 'pervasive...

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IANS 28 September 2022
In a high-profile media feed hacking, US-based business news publication Fast Company on Wednesday said its content management system (CMS) was hacked and two obscene and racist push notifications were sent to users via its Apple News alerts.   Apple immediately addressed the incident...

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Yogesh Sapkale Yogesh Sapkale 27 September 2022
Whenever anyone questions bad loans of scheduled commercial banks, the Union government and banking regulator often claims that written off does not mean that there would not be a recovery of dues. However, data available in the public domain from TransUnion CIBIL Ltd (CIBIL) shows that as of...

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