The District Consumer Disputes Redressal Commission, South Mumbai, directed LIC to pay Rs 2 lakh claim to a widow, noting her deceased illiterate husband was unaware of policy…
06/06/20241 min read
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The District Consumer Disputes Redressal Commission, South Mumbai, directed LIC to pay Rs 2 lakh claim to a widow, noting her deceased illiterate husband was unaware of policy…
The Foreign Exchange Management Overseas Investment Directions, 2022, have been amended to clarify the regulations regarding investments in overseas funds. The amendments allow…
The Supreme Court criticized the Delhi High Court for extending the stay on a lower court's order granting bail to a money-laundering accused, Parvinder Singh Khurana. \r Justices…
The Allahabad High Court allowed the Vice-Chancellor and Members of the Executive Council of King George's Medical University to seek discharge of notices in pending contempt…
India amended the Banking Regulation Act via a presidential decree, bringing cooperative banks under the regulatory purview of the Reserve Bank of India RBI . The amendment…
RBI Governor Shaktikanta Das urged banks to reassess their business strategies to address the persistent gap between credit and deposit growth. He mentioned potential actions to…
RBI Governor Shaktikanta Das affirmed the stability of the banking, NBFC, and MFI sectors but emphasized vigilant monitoring. While acknowledging occasional outliers, he…
RBI Governor Shaktikanta Das emphasized the need for banks to ensure their information technology systems' capacity aligns with their business growth. He reiterated the central…
The Competition Commission of India CCI has initiated a consultation process to revamp its general regulations, seeking feedback until July 8. Proposed changes include appointing…
The Kerala High Court ruled that a man cannot challenge a child's paternity if his conduct shows otherwise. In 2022, the petitioner sought a DNA test, but the Family Court…
Senior advocate Kapil Sibal called for a reconsideration of three new criminal laws set to take effect on July 1, suggesting they be reviewed by the new government. He highlighted…
Four employees of Bajaj Allianz General Insurance Company in Pune have been accused of forging 97 reimbursement claims, resulting in a loss of Rs 2.23 crore. The complaint was…
SEBI has cautioned investment bankers that their upcoming public offering documents face the risk of being rejected if there are any shortcomings in disclosures. They've…
Fitch Ratings predicts that despite the National Democratic Alliance's NDA narrower majority post-election, India's growth will persist at 7% in FY25. The agency anticipates…
In May, overall deal activity declined by 3% to USD 5.023 billion compared to April's USD 5.192 billion, with mergers and acquisitions plummeting by 58% to USD 1.05 billion while…
Dixon Technologies is actively seeking merger and acquisition M&A opportunities in India to boost its growth in the electronics manufacturing sector. With a robust balance sheet…
Delhi Court granted bail to Congress leader Karti P Chidambaram in an Enforcement Directorate ED money laundering case related to an alleged Chinese visas scam. Judge Kaveri…
Ram Kishor Arora was granted bail in the ₹700 crore money laundering case by a Delhi Court. Additional Sessions Judge Devender Kumar Jangala of Patiala House Courts approved…
In April 2024, gross bank credit to MSMEs under priority sector lending norms surged by 18.1%, totaling Rs 24.6 lakh crore compared to Rs 20.84 lakh crore in April 2023. Credit to…
The Nifty PSU Bank index surged up to 4.4% in intra-day trading, marking the second consecutive session of gains, following a 2.5% jump on June 5, after the confirmation of the…
The Reserve Bank of India, under Section 35A read with Section 56 of the Banking Regulation Act, 1949, extends the Directions issued to The Imperial Urban Cooperative Bank Ltd.,…
The Government of India Floating Rate Bond 2031 FRB 2031 will have a rate of interest of 7.98% per annum for the period from June 07, 2024, to December 06, 2024. The bond's coupon…
The Government of India has announced the sale re-issue of Government Securities totaling ₹29,000 crore, scheduled for auction on June 07, 2024. The underwriting auction, in…
The Delhi High Court ruled that the Central Information Commission CIC lacks jurisdiction to comment on the utilization of Members of Parliament Local Area Development Scheme…
India’s markets regulator, SEBI, issued a warning to ICICI Bank for pressuring ICICI Securities I-Sec shareholders to vote for delisting in March. SEBI's letter dated June 6 noted…
Mirae Asset Investment Managers India awaits SEBI's approval to launch India's pioneering electric vehicles EV and new-age automotive-focused exchange-traded fund ETF . This…
Sebi issued a Show Cause Notice to Yashish Dahiya, CEO of PB Fintech, regarding a $2 million investment in a Dubai-based marketing company in 2022. The investment, made through PB…
Sebi introduced a framework for "financial disincentives" applicable to market infrastructure institutions MIIs like stock exchanges for lapses in detecting abnormal trading…
CoinDCX introduced CoinDCX Prime on June 6, targeting High-Net-Worth Individuals HNIs , family offices, and institutional investors seeking personalized crypto investment…
Indian Overseas Bank has inaugurated an exclusive branch in the city aimed at serving startups and budding entrepreneurs. The branch, launched by top officials, will provide a…
The Allahabad bench of the Customs, Excise & Service Tax Appellate Tribunal CESTAT abated an appeal filed by M/s Moser Baer India Ltd. as no application was made by the official…
Simpl, a Buy Now Pay Later BNPL startup, reportedly handed out termination notices to approximately 30 more employees, following the layoff of 160 staff less than a month ago. The…
Congress leader Rahul Gandhi has called for an investigation into stock market fluctuations preceding India's recent elections, alleging Prime Minister Narendra Modi provided…
The Bangalore bench of the Income Tax Appellate Tribunal dismissed the valuation of bonus shares under Section 55 2 aa B of the Income Tax Act, as the taxpayer admitted to not…
Jar, the digital gold micro-savings platform, plans to expand into the health and general insurance segment by the end of 2025, aiming to offer comprehensive financial services.…
The Chennai bench of the Customs Excise and Service Tax Appellate Tribunal CESTAT remanded a case concerning service tax liabilities of the Coimbatore City Municipal Corporation…
In May, domestic air passenger traffic grew by 5.1% year-on-year to an estimated 138.9 million, surpassing pre-Covid levels by around 14%, according to Icra. For FY24, domestic…
Issuances of certificates of deposit CD and commercial paper CP surged in May due to tight banking system liquidity and diversified borrowing by non-banking finance companies…
Andrew Holland, CEO of hedge fund Avendus Capital Alternate Strategies, expressed optimism about the Indian banking sector, attributing it to the upcoming favorable interest rate…
The Delhi High Court overturned a decision regarding a Show Cause Notice SCN due to the lack of thorough consideration by the Proper Officer. The petitioner contested the order…
New Delhi: The Centre has no plans to merge public sector banks PSBs in FY25 but will continue with privatization efforts, according to sources. Currently, there are no proposals…
The Gauhati High Court ruled that an accused cannot be convicted solely based on an unsigned confessional statement without additional evidence Shri Kedukhoyi v. State of Nagaland…
The Kerala High Court directed the National Faceless Assessment Centre NFAC to decide within 2 months due to a delay in deciding to stay the application against the Income Tax…
The Supreme Court lamented that delays in case disposal are often blamed on the courts, even though lawyers and litigants contribute. A vacation Bench of Justices PV Sanjay Kumar…
The income tax department has reiterated the importance of validating and re-validating bank accounts to facilitate income tax refunds efficiently. Emphasizing the significance of…
The Income Tax Appellate Tribunal ITAT of the New Delhi bench ruled that assessment or reassessment in a search-related case requires proper approval from the competent authority.…
The Kerala High Court ruled that benefits under Section 80P of the Income Tax Act were denied due to late filing of Income Tax Returns ITR . The Muvattupuzha Agricultural…
The Delhi bench of the Income Tax Appellate Tribunal ITAT annulled a penalty, citing a limitation issue. The penalty order, passed on 25.02.2016 by the Joint Commissioner of…
SBI General Insurance Company has announced the withdrawal of its Arogya Plus policy effective from October 5, 2024, adhering to regulatory requirements mandating a 90-day advance…
As Prime Minister Narendra Modi prepares for his third term inauguration on June 9, the upcoming government faces a packed agenda including legislative bills and a revised 100-day…
The District Consumer Disputes Redressal Commission, South Mumbai, directed LIC to pay Rs 2 lakh claim to a widow, noting her deceased illiterate husband was unaware of policy…
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