Month: February 2025

Hope to introduce new income tax bill in Lok Sabha next week: Nirmala Sitharaman

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Union Finance Minister Nirmala Sitharaman, Reserve Bank of India Governor Sanjay Malhotra and Directors during the 613th Meeting of Central Board of Directors (CBD) of the RBI in New Delhi on February 8, 2025. | Photo Credit: PTI Finance Minister Nirmala Sitharaman on Saturday (February 8, 2025) said she is likely to introduce the new…

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Business

NCLAT directs NCLT to decide on BCCI-Byju’s settlement within a week

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Photo used for representation purpose only. | Photo Credit: Reuters Appellate tribunal NCLAT has directed NCLT to decide within a week over BCCI’s plea for settlement and withdrawal of insolvency matter against ed-tech firm Byju’s. A two-member bench comprising Justice Rakesh Kumar Jain and Jatindranath Swain on Friday directed the National Company Law Tribunal (NCLT)…

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Business

SEBI bans financial influencer Asmita Patel, five others from market, impound illegal gains of more than ₹53 crore

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Asmita Patel. File | Photo Credit: Photo Courtesy: YouTube Markets regulator Securities and Exchange Board of India (SEBI) has banned six entities, including Asmita Patel Global School and fin-influencer Asmita Patel, from the capital markets for alleged unregistered investment advisory services and directed to disgorge more than ₹53 crore collected as fees from the course…

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Business

Accenture scraps diversity and inclusion goals, memo says

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Julie Sweet, CEO and Chair of Accenture. File | Photo Credit: Reuters Accenture has scrapped its global diversity and inclusion goals after an evaluation of the changing U.S. political landscape, according to an internal memo seen by Reuters on Friday (February 7, 2025). The company will start “sunsetting” the diversity goals it set in 2017,…

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Business

ISRO successfully carries out vacuum ignition trial of cryogenic engine

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ISRO’s C20 cryogenic engine. File | Photo Credit: The Hindu ISRO on Saturday (February 8, 2025) said that it has successfully carried out the ignition trial of the indigenous CE20 cryogenic engine powering the upper stage of LVM3, with a multi-element igniter under vacuum conditions, which simulates the engine ignition in the vacuum condition of…

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Science

RBI to set up Working Group to review trading and settlement timings of markets

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The Reserve Bank of India (RBI) has decided to undertake a comprehensive review of trading and settlement timings across various market to synchronise it to facilitate benefits of efficient price discovery and optimisation of the liquidity requirements.  “Over the last few years, there have been several developments including increased electronification of trading, availability of forex…

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Business

Mahindra & Mahindra Q3 profit rises 20% to ₹3,181 crore

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Mahindra & Mahindra Ltd on Friday reported a 20% rise in consolidated profit after tax (PAT) to ₹3,181 crore in the December quarter. The company had posted a consolidated PAT of ₹2,658 crore in the year-ago period. Revenue for the quarter under review grew 17% year-on-year to ₹41,470 crore from ₹35,299 crore a year earlier,…

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Business

Union Budget is pro-rich, says Opposition

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Trinamool Congress MP Abhishek Banerjee, Samajwadi Party MP Akhilesh Yadav, party MPs Dharmendra Yadav, Dimple Yadav and Anand Bhadauriya in the Lok Sabha during the Budget Session, in New Delhi on February 7, 2025. | Photo Credit: ANI/Sansad TV Terming the Union Budget “pro-rich”, Opposition members in the Lok Sabha on Friday (February 7, 2025)…

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Business

Tax cut won’t mitigate high prices for cancer, rare diseases medicines, say patient advocacy groups

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Photo used for illustration purpose only. | Photo Credit: Getty Images/iStockphoto The recent Union Budget announcement provided custom duty waivers to 36 exorbitantly priced cancer and rare diseases drugs, but patient advocacy groups highlight that the tax cut doesn’t tackle the underlying problem of high prices due to patent monopolies that block local production and offer very little to ease…

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Business