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R Balakrishnan R Balakrishnan 19 August 2022
For years, the stocks of hotel industry have disappointed. In the 1990s, Indian Hotels was a glamour stock; East India Hotels was a close competitor; Leela was always followed by a question mark; and ITC Hotels (then a listed stock) was kind of tolerated in the marketplace. For years, I have...

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TruthInAdvertising.org 19 August 2022
These days, it may seem like every celebrity is shilling non-fungible tokens – or NFTs – on social media. What’s behind these posts?   Today, TINA.org sent letters to more than a dozen celebrities who have promoted NFTs on their social media accounts, including Gwyneth Paltrow, Eva...

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Moneylife Digital Team 18 August 2022
While rejecting the claim of an appellant, the principal bench of the national company law appellate tribunal (NCLAT) held that the doctrine of res judicata (a matter decided) applies to proceedings under the Insolvency and Bankruptcy Code (IBC). Challenges to the findings in the incidental...

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Moneylife Digital Team 18 August 2022
Market regulator Securities and Exchange Board of India (SEBI) imposed a penalty of Rs20 lakh on Pantomath Stock Brokers Pvt Ltd (now known as Pentagon Stock Brokers Pvt Ltd) for deliberate disregard of its obligations towards its clients, while putting in jeopardy the interests of lakhs of...

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Vinita Deshmukh Vinita Deshmukh 18 August 2022
Last week, the office of the comptroller and auditor general of India (CAG) tabled in Parliament, the audit report on the preservation and conservation of monuments, which exposes the archaeological survey of India (ASI), known to deny information under the Right to Information (RTI) Act and...

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Most banks are increasing their deposit rates for boosting deposits to support rising credit offtake as liquidity in the banking system has narrowed.   The hike in deposit rates is in line with the Reserve Bank of India's (RBI) 50bps (basis points) hike in repo rate in the August...

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The Supreme Court was told on Thursday that the central board for direct taxes (CBDT) has accused makers of Dolo-650 tablet of distributing freebies around Rs1,000 crore to doctors as consideration for prescribing the tablet.   Senior advocate Sanjay Parikh, representing Federation of...

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The Reserve Bank of India (RBI) released a discussion paper on "Charges in Payment Systems" for public feedback, the central bank said in a release.   Feedback may be provided in respect of questions raised therein, including other relevant suggestions, through e-mail on or before 3...

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Chinese digital loan apps were utilising the loophole in the regulatory guidelines to dupe Indian clients. As fintech companies were unlikely to get fresh non-banking financial companies (NBFC) license from RBI to offer loans, they devised the Memorandum of Understanding (MoU) route with the...

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The number of domestic air passengers dipped to 9.70mn (million) in July compared to 10.5mn June, the directorate general of civil aviation (DGCA) said in its latest air traffic data.   According to DGCA data, the number of passengers carried by domestic airlines during the...

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In light of the rising Covid cases in several parts of the country, the aviation regulator Directorate General of Civil Aviation (DGCA) on Wednesday made it mandatory for passengers to follow Covid protocols and wear masks inside the aircraft.   The regulator said that in view of the...

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AC Thompson (ProPublica) 18 August 2022
This story was originally published by ProPublica.   In a Q&A with ProPublica reporter A.C. Thompson, former intelligence officer and data scientist Welton Chang explains how conspiracy theorists and violent racists fled to smaller platforms. Once there, their remarks festered and...

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Moneylife Digital Team 18 August 2022
We had mentioned in Wednesday’s closing report that Nifty and Sensex marching ahead on lower crude. On Thursday, the indices opened lower and ended in green. On the National Stock Exchange (NSE), advance decline ratio was at 1.23 continuing the positive sentiment but indicating more declines...

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Sponsored Post 18 August 2022
Personal loans are unsecured forms of credit offered by NBFCs and financial institutions on various conditional factors, including income level, repayment capability, occupation, and credit history. This loan enables borrowers to meet their financial needs. However, there are specific strict...

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India reports 15,754 fresh COVID cases, 47 deaths 19-08-2022 11:10 India on Friday reported marginal rise at 15,754 fresh Covid-19 cases in the last 24 hours, against 12,608 infections on Thursday, said Union Health Ministry. In the same period, the country has reported 47 more...

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Sucheta Dalal Sucheta Dalal 17 August 2022
On 12th August, the bench of justices S Abdul Nazeer and JK Maheswari of the Supreme Court of India (SC) were pleased to issue a notice to the ministries of finance, corporate affairs, Reserve Bank of India (RBI) and Securities & Exchange Board of India (SEBI) in the public interest...

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Moneylife Digital Team 17 August 2022
While finding out weak monitoring mechanism in the income-tax (I-T) department for the gems and jewellery sector, the comptroller and auditor general of India (CAG) noticed 230 instances of non-compliance to the provisions of the I-T Act involving potential tax effect Rs38,449.59...

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Moneylife Digital Team 17 August 2022
The central consumer protection authority (CCPA), while asking to recall 598 sub-standard pressure cookers, has imposed a penalty of Rs1 lakh on Flipkart.    "The CCPA has directed Flipkart to notify consumers of all 598 pressure cookers sold on its platform, recall the pressure...

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Moneylife Digital Team 17 August 2022
New fund offers (NFOs) seem to be the flavour of the season. This could be the reason why asset management companies (AMCs) have launched more than 20 NFOs in the past six weeks. The rush by fund houses to launch new schemes comes after the market regulator, Securities and Exchange Board of...

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Moneylife Digital Team 17 August 2022
Sales of Devyani International (Devyani) in Q1FY22-23 doubled year-on-year (y-o-y) to Rs705 crore, on the back of highest ADS (average daily sales) in KFC and 30% same store sales growth (SSSG) in PH (Pizza Hut). It added net 70 new units in Q1FY22-23 and was able to protect its margin,...

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