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On 8 March 2022, the enforcement directorate (ED) at Hyderabad issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) against C Parthasarathy, founder of the Karvy group of entities, his sons Adiraj Parthasarathy and Rajat Parthasarathy, and the following...

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The past two years after global lock-downs were triggered by the COVID-19 pandemic, India's investor population has almost doubled due to the rush of new investors. Strangely, however, the brokerage business is seeing a huge churn with scores of broker defaults and even more trading members...

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Moneylife Digital Team 21 May 2022
When Ola Cabs began to offer outstation services, most people thought it was a safe and smooth way to book vehicles, especially for family, children and senior citizens to travel out of town. But the absolute lawlessness and thuggery allowed to recovery agents of banks and finance companies,...

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On 6 May 2022, Elcid Investments Ltd, listed on the Bombay Stock Exchange (BSE), a name unknown to many until then, with an issued share capital of 2,00,000 equity shares of Rs10 each, with the promoters holding 1,49,950 shares, announcing that the postal ballot to initiate the delisting...

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Does the game change?   An article of a 1,000 words is too small to explain the significant challenges that one faces in a digital world. That is why my colleague (Brian Almeida) and I wrote a book titled Marketing in a Data/ Digital World (available on Amazon). This was a book...

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Moneylife Digital Team 21 May 2022
We had mentioned in previous week’s closing report that Nifty, Sensex remain weak but with chances of corrective bounce.   The major indices opened higher this week and closed with gain.     On a weekly basis Nifty Metal and Nifty Auto were the biggest gainers whereas...

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Moneylife Digital Team 21 May 2022
The inspection report of Bank of Baroda (BoB) for 2019, inadvertently shared by Reserve Bank of India (RBI), reveals financial divergence in as many as 779 accounts. As per the report, there was a shortfall or additional provision worth Rs4,512 crore was required in these...

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GPay, as Google Pay is popularly known, is being widely used these days—right from shopping online, paying bills or for making payments to individuals for food, groceries or even to vegetable vendors. Often, when joint purchases are made or when you have to share bills in a restaurant, GPay...

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Moneylife Digital Team 21 May 2022
INDIAN MARKET TRENDS From 13th May to 20 May 2022, ML Small-cap Index rose 6%. ML Mid-cap Index and ML Large-cap Index rose 5% and 4%, respectively. ML Mega-cap Index, ML Micro-cap Index, The NIFTY and Sensex, rose 3% each.                                       FUND...

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Moneylife Digital Team 21 May 2022
Paying heed to anger among common people over increased fuel prices, the Union government on Saturday decided to reduce excise duty on petrol by Rs8 per litre and on diesel by Rs6 per litre. Further the government will also give Rs200 per cylinder subsidy for Ujjwala Yojana beneficiaries for...

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The CBI on Saturday launched a search operation on brokers at over ten locations in connection with the National Stock Exchange (NSE) co-location scam involving the financial institution's former MD and CEO Chitra Ramkrishna and the ex-Group Operating Officer Anand...

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The Haryana Real Estate Regulatory Authority (HRERA), Gurugram, has issued a notice directing the freezing of all accounts associated with a real estate firm.   The company M/s Mahira Infratech ltd, previously known as M/s Sai Aaina Farms Pvt. Ltd, was developing a real estate project...

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Moneylife Digital Team 21 May 2022
Guidelines                                          1. The Grader captures the first two of the three intrinsic factors that drive a stock: valuation, returns and growth. Since growth is volatile and difficult to capture through a metric, we have used only the first two factors. In...

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Moneylife Digital Team 21 May 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 1 crore on IIFL Securities Ltd for violating regulations  in 2014.  SEBI had conducted multiple audits of IIFL's books of accounts and discovered that the company had violated the SEBI 1993 Circular,...

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India reports 2,323 new COVID cases, 25 deaths in past 24 hours 21-05-2022 10:30 India on Saturday reported 2,323 fresh Covid cases, an increase against the 2,259 infections registered the previous day, the Union Health Ministry said. In the same period, 25 new fatalities were...

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Moneylife Digital Team 20 May 2022
Ever since March 2016, when the market regulator, Securities and Exchange Board of India (SEBI), mandated mutual fund (MF) houses to disclose how much fund managers, directors of the asset management company (AMC) and other key employees invest their own money into their schemes, the data has...

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The Central Consumer Protection Authority (CCPA) on Friday issued notices to Ola and Uber for unfair trade practices and violation of consumer rights, slamming the ride-hailing platforms over lack of proper consumer grievance redressal mechanism, deficiency in service, unreasonable levy of...

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When it comes to cyber crimes, we often consider poor or less educated people more susceptible to fraud. However, highly educated people or professionals are more likely to fall prey to fraudsters. This week, we will see how a chartered accountant (CA) lost about Rs13 lakh in a job fraud and...

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Axis Mutual Fund has sacked its chief trader and fund manager Viresh Joshi, with immediate effect, the fund house said.   On 4th May, Axis AMC had suspended Mr Joshi and another fund manager.   Axis MF, in an official statement, said, "Axis AMC has been conducting a suo moto...

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To ensure speedy redressal of consumer complaints, the department of consumer affairs on Friday asked registrars and presidents of national, state, and district commissions not to grant adjournment for more than one month to ensure adhering to the timelines provided under the Consumer...

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