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Electric vehicle company Tesla CEO Elon Musk has sold 7.92 million shares of the company worth around $6.88 billion, media reports say.   Musk's transactions occurred between August 5 and August 9, the US Securities and Exchange Commission (SEC) filings revealed, following Tesla's...

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Moneylife Digital Team 10 August 2022
On Wednesday, the indices opened gap up and ended flat. On the National Stock Exchange (NSE), advance decline ratio was at 0.8, indicating more stock ending in negative after today’s trade. The trend of the major indices on Wednesday’s trading are given in the table below:  

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Moneylife Digital Team 09 August 2022
The shortage of judicial and technical members threatens to halt regular proceedings at the National Company Law Tribunal (NCLT), possibly derailing a big reform of the Narendra Modi government. The shortage of members is a fact and it seemed to be confirmed by an authentic-looking circular...

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Moneylife Digital Team 09 August 2022
National Stock Exchange of India Ltd (NSE) has asked all its members to re-verify and share documents required for know-your-customer (KYC) for all of their clients who have given Sikkim as correspondence or permanent address. According to the sources, this is being done to keep a tab on the...

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Moneylife Digital Team 09 August 2022
Ujjivan Small Finance Bank (USFB) is a subsidiary of Ujjivan Financial Services (UFS), a Bengaluru-based microfinance company registered as non-banking financial company-micro finance institution (NBFC-MFI) with the Reserve Bank of India (RBI). UFS had been operating in the micro finance...

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Are vehicle-owners being cheated by the non-life insurers by charging more than a just price?   It seems so, if one goes by a question that was raised in the Lok Sabha by the Congress party member from Kerala, Hibi Eden.   And there cannot be smoke without a fire goes the...

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Moneylife Digital Team 09 August 2022
Century Ply (Century) reported gross quarterly revenue of Rs881 crore, down 1.56% quarter-on-quarter (q-o-q) but up 96.21% year-on-year (y-o-y). Operating profit was Rs145 crore—down 9.93% q-o-q but up 139.34% y-o-y and net profit was Rs96 crore up 5.49% q-o-q and 182% y-o-y. Even though raw...

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Dr KR Shyam Sundar (The Leaflet) 09 August 2022
Nearly a year is set to expire, yet the government has managed the registration of only a little less than three-fourths of the total estimated unorganised workforce of 380 million.  —– Three major labour laws govern the welfare of often overlapping segments of unorganised workers:

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Sucheta Dalal Sucheta Dalal 09 August 2022
It is over two weeks since Zee Business channel’s investigative report titled “Operation Demat Daka” sent a chill down the spine of investors. Managing editor Anil Singhvi aired conversations and clippings over several episodes to show how the trading accounts of a few investors had been...

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Artha Shastry 08 August 2022
31st July brings trepidation and fear to the hearts of many an honest taxpayer—one suspects that dishonest taxpayers, in any case, are not prone to attacks of conscience. The reason for the trepidation, of course, is that 31st July is the deadline for filing the appropriate income-tax returns...

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Moneylife Digital Team 08 August 2022
The directorate of enforcement (ED) has recorded around 515 cases of bank fraud in public and private sector banks, under the provisions of the Prevention of Money Laundering Act (PMLA), from 2014 to 2022. Further, it has attached properties worth Rs47,099 crore in bank fraud cases and has...

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Moneylife Digital Team 08 August 2022
Customers of registered credit bureaus can now approach the Reserve Bank of India (RBI) for faster resolution of their credit scores and related complaints. Credit information companies (CICs), more commonly known as credit bureaus, will be included under the central bank’s integrated...

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Moneylife Digital Team 08 August 2022
The Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India (RBI), has insured 49% of assessable deposits out of total bank deposits of Rs1.65 lakh crore, the Union government informed the Lok Sabha.    In a written reply, the...

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Moneylife Digital Team 08 August 2022
During the past three years, enforcement agencies working under the Union government have registered 196 cases involving 219 companies, the Lok Sabha was informed.    In a written reply, the minister of state for finance revealed, the government and enforcement agencies have taken...

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Moneylife Digital Team 08 August 2022
During the past five years, life and non-life insurance companies have transferred Rs1,723.20 crore to the Senior Citizens' Welfare Fund (SCWF) as per the provisions of Senior Citizens' Welfare Fund Rules, notified by the government of India and a master circular issued by the Insurance...

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SpiceJet's Hyderabad-Delhi flight passengers had to walk on the Delhi airport's tarmac as the bus meant to carry them got delayed for nearly 45 minutes.   Aviation regulator, the directorate general of civil aviation (DGCA) has started investigation into the matter which took place on...

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A Special court here on Monday sentenced former Coal Secretary H.C. Gupta to three years imprisonment and former Joint Secretary K.S. Kropha to two years jail term in a case related to the allocation of the Lohara East Coal block in Maharashtra.   Special CBI Judge Arun Bhardwaj also...

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After unearthing the use of industrial alcohol in the illicit liquor manufacturing, the Rajkot Municipal Corporation (RMC) health officers have detected another scam. Industrial grade maize starch and chemical grade citric acid were being used for making snacks for devotees fasting in the...

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Moneylife Digital Team 08 August 2022
Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) reported out-of-the-park numbers in Q1FY22-23. Top-line registered an exceptional growth of 59% y-o-y (year-on-year) and 51% q-o-q (quarter-on-quarter) to Rs3,031 crore. This was on account of strong pricing environment in the TAN...

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Moneylife Digital Team 08 August 2022
In Q1FY22-23, PI Industries (PI) reported strong revenue growth of 29% y-o-y (year-on-year) to Rs1,543 crore, backed by 42% y-o-y growth in CSM (custom synthesis manufacturing) segment. The rise in CSM business was on the back of volume growth of 30% y-o-y, due to ramp-up of newer molecules...

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