Category: Economy
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RBI fines 4 PSUs ₹2000 cr for delayed investment reporting: Report
RBI fines 4 PSUs for late reporting of overseas investments RBI has fined ONGC Videsh, Indian Oil Corporation, GAIL (India) and Oil India Limited ₹2,000 crore for delayed reporting of overseas investments, Mint reported. The PSUs may make efforts to secure an extension from RBI for the fine. The Oil Ministry reportedly believes responsibility to…
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DLF’s Promoter KP Singh sells entire 0.59% stake for ₹731 crore
Chairman Emeritus Kushal Pal Singh offloads shares worth Rs 731 crore in DLF Promoter and Chairman Emeritus Kushal Pal Singh has offloaded his entire shareholding of 1.45 crore shares worth ₹731 crore in DLF via open market transactions on Tuesday. The total promoter and promoter group’s shareholding in the real estate company was 74.95% as…
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SC denies request to cut 4,000 trees around Taj Mahal for industrial hub project
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in Environment, Central India, Culture, Economy, Events, History, India, Law, Legal, North India, Science, TravelSC refuses tree cutting around Taj Mahal, stalls proposed industrial hub in Agra The Supreme Court on Tuesday denied a request to cut over 4,000 trees around Taj Mahal in Agra for Uttar Pradesh government’s manufacturing hub project. The court said that Agra isn’t short of industries but it’s short of trees. “We cannot appreciate…
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K’taka, IBC sign MoU for ₹8,000 crore lithium-ion battery plant
Karnataka and US-based IBC sign MoU for Rs 8,000 cr recyclable Lithium-ion battery plant Karnataka and US-based International Battery Company (IBC) on Tuesday signed an MoU to establish a recyclable lithium-ion battery manufacturing unit with an investment of ₹8,000 crore. IBC Founder and CEO Priyadarshi Panda said the pilot plant in Korea is nearing completion,…
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Flipkart IPO remains a long-term ambition: Walmart
Walmart Says Flipkart IPO Remains ‘Long-Term Ambition’ After Tiger Global Stake Buyout After buying Tiger Global’s stake in Flipkart for $1.4 billion, Walmart said an IPO of the Bengaluru-based e-commerce company remains its “long-term ambition”. “[The IPO] will come at the right time,” a spokesperson said. “We remain confident in the future of Flipkart and…
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US facing possible new COVID-19 wave
US facing possible new COVID-19 wave US’ Centers for Disease Control and Prevention has stated that hospitalizations due to COVID-19 are increasing in US, adding that it could be indicative of a new COVID-19 wave. “We’ve seen the early indicators go up for the past several weeks…We’ve seen hospitalisations tick up as well. This could…
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India’s foreign exchange reserves decline to lowest level in nearly 3 months, trade deficit narrows to $20.13 billion
India’s foreign exchange reserves decline to lowest level in nearly 3 months, trade deficit narrows to $20.13 billion India’s foreign exchange reserves declined to 49.75 lakh crore in July, while bond yields fell to their lowest level in a month. The goods trade deficit also decreased, but inflation and geopolitical tensions continue to pose risks.…
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Supreme Court Directs Centre To Reconsider Reward Paid To Person Who Informed About Tax Evasion
Supreme Court Directs Centre To Reconsider Reward Paid To Person Who Informed About Tax Evasion The Supreme Court of India has issued a directive to the reward committee, which was established by the Ministry of Finance under the “Reward to Informers” policy, to reconsider the amount of reward granted to an individual who provided information…
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Grain sales to states under OMSS stopped to maintain stock: Govt
Sale of wheat, rice to states under OMSS stopped to maintain adequate buffer stocks, control prices State governments of Karnataka, West Bengal and Tamil Nadu have requested wheat and rice under OMSS (D) Policy, which was not acceded to due to the discontinuation of the sale of wheat and rice to states under OMSS(D) 2023.…