ECONOMY


Sanjeev Sharma (IANS) 23 September 2021
India's outperformance of other emerging markets is at previous peaks and such periods are usually followed by the country's underperformance, Jefferies has said in a report.   While India is viewed to be a beneficiary of the China turmoil, India's NIFTY has already outperformed...

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Moneylife Digital Team 15 September 2021
In a curious turn of events, Inveso Developing Market Funds, which was welcomed by Zee Entertainment managing director (MD), Punit Goenka (elder son of Zee group founder Subhash Chandra), as a major investor in 2019, has now turned on him.   At Zee Entertainment, two largest...

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Moneylife Digital Team 15 September 2021
India's household debt increased on an average by 1.5 times between 2012 and 2018. The state-wise trend indicates that the rural households' average debt more than doubled in 18 states for the six years ended 2018, while seven states witnessed the same for urban households. Over the next...

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Moneylife Digital Team 14 September 2021
The Kolkata-headquartered SREI group, which includes SREI Infrastructure Finance (SIFL) and SIFL’s wholly-owned subsidiary SREI Equipment Finance (SEFL), has been under stress for about a year now. In December 2020, the Kolkata bench of the National Company Law Tribunal (NCLT) had issued an...

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Moneylife Digital Team 11 September 2021
The Madurai Bench of Madras High Court has issued a notice to the Reserve Bank of India (RBI) and Union finance ministry on a public interest litigation (PIL) petition filed against challenging the mandatory positive pay system in the country.   The litigant K Krishna, an advocate...

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IANS 11 September 2021
The Central Board of Direct Taxes (CBDT) has extended deadlines for several compliances, including the filing of Income Tax returns for the Assessment Year (AY) 2021-22.   The due date of furnishing of returns of income for the assessment year 2021-22, has been extended to December...

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Moneylife Digital Team 09 September 2021
Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked shareholders of Zee Entertainment, not to re-appoint independent directors, Ashok Kurien and Manish Chokhani, on the company's board.   Raising concerns of corporate governance, IiAS highlighted that Ashok...

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Moneylife Digital Team 08 September 2021
A subscriber of Moneylife forwarded to us an email sent by the office of the banking ombudsman, Delhi with a link to an online survey to evaluate the customer satisfaction level with respect to the complaint resolution process of the ombudsman.    Manish Kapoor (name changed) had...

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Moneylife Digital Team 07 September 2021
The Supreme Court (SC) has dismissed a special leave petition (SLP) filed by the Securities and Exchange Board of India (SEBI) against an order of the Securities Appellate Tribunal (SAT) in the CARE Ratings Ltd matter. In June this year, SAT reduced the penalty imposed by SEBI on CARE Ratings...

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Moneylife Digital Team 07 September 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs2 lakh on Sarvodaya Co-operative Bank Ltd for contravention directions issued by the banking regulator on know your customer (KYC).    “The Reserve Bank of India has imposed, by an order dated September 06, 2021, a...

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Moneylife Digital Team 06 September 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs50 lakh on Bombay Mercantile Co-operative Bank for non-compliance concerning certain regulatory directions.   Bombay Mercantile Co-operative Bank has been charged for non-compliance with directions issued by RBI...

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Easing Covid restrictions, along with pent-up demand, accelerated output of India's eight major industries in July on a year-on-year basis.   The Index of Eight Core Industries (ICI) readings for the last month showed an expansion of 9.4 per cent from a decline of 7.6 per cent in...

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Moneylife Digital Team 31 August 2021
In March last year, the National Stock Exchange (NSE) announced the expulsion of the New Delhi-based Goldstreet Securities Ltd under rules 1 and 2 of chapter IV of the rules of the Exchange, through a public notice. NSE told Moneylife, “Since there were certain issues noticed with Goldstreet...

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Moneylife Digital Team 28 August 2021
Future Retail, on Saturday, has filed a new case against Amazon.com Inc at the Supreme Court. This is the Kishore Biyani-led company’s latest attempt to seek clearance for its $3.4 billion retail assets sale, which Amazon has challenged.   Earlier this month, the Supreme Court had...

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Moneylife Digital Team 28 August 2021
The Reserve Bank of India (RBI) has imposed a penalty totalling Rs9 crore on five payment system operators, citing non-compliance with its norms on prescribed transaction limits and ATM deployment.   The RBI has imposed a penalty of Rs3 crore on Transaction Analysts (India) for...

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Moneylife Digital Team 28 August 2021
The Reserve Bank of India (RBI)’s expert committee on primary (urban) co-operative banks (UCBs) has recommended a regulatory nudge for weak UCBs to explore voluntary merger or conversion into a non-banking society at an early stage.    The committee has submitted its report, which,...

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Moneylife Digital Team 26 August 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs27.5 lakh on Thrissur-headquartered Dhanlaxmi Bank for non-compliance with specific provisions issued by the central bank on crediting eligible amounts to the Depositor Education and Awareness Fund (DEA Fund).   In a...

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Moneylife Digital Team 26 August 2021
Moody’s Investors Service says the second COVID wave has increased asset risks for Indian banks, but a severe deterioration is unlikely.   The second infection wave will lead to new problem loans in the retail and SME segments. Still, a severe asset quality decline is unlikely, it...

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Moneylife Digital Team 25 August 2021
The Securities and Exchange Board of India (SEBI) has ordered unfreezing bank accounts as well as shares and mutual fund holdings of Rana Kapoor, former managing director (MD) and chief executive (CEO) of Yes Bank. Mr Kapoor is currently in judicial custody after being arrested in March 2020...

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Moneylife Digital Team 25 August 2021
ICICI Bank has filed a case against Karvy Stock Broking Ltd (KSBL) and its founder promoters C Parthasarathy and Meka Yugandhar Rao for allegedly defaulting the Bank to the tune of Rs563 crore.    According to a statement released by Cyberabad police, a case is registered under...

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