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Ola electric scooters are seen outside the Ola Electric Service Centre, in Thane on the outskirts of Mumbai. File. | Photo Credit: Reuters The Central Consumer Protection Authority has slapped a Show Cause Notice on Ola Electric Mobility Ltd for alleged violation of consumer rights, misleading advertisement and unfair trade practices, Ola Electric Mobility said….
File | Photo Credit: Reuters The rupee rose 6 paise to 83.94 against the U.S. dollar in early trade on Tuesday (October 8, 2024) supported by a weaker greenback and lower crude oil price. However, volatility in the domestic equity markets and FII outflows capped sharp gains in the local unit, forex traders said. At…
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For representative purposes. | Photo Credit: Getty Images The story so far: The Securities and Exchange Board of India (SEBI) on September 30, introduced the liberalised Mutual Funds Lite (MF Lite) framework for passively managed schemes. The framework intends to promote the entry of new players into the MF ecosystem, present diversified investment opportunities for…
Read More “On the need for a different framework for passive MFs” »
Reliance Jio has urged telecom regulator TRAI to come up with a revised paper on spectrum allocation for satellite communication alleging that it ignores the key point of ensuring level-playing field between satellite and terrestrial services. In a letter to the Telecom Regulatory Authority of India (TRAI) Chairman, Anil Kumar Lahoti, Reliance Jio has sought…
The logo of Securities and Exchange Board of India (SEBI). | Photo Credit: Reuters The Securities Appellate Tribunal (SAT) has stayed a SEBI order that barred realty firm Omaxe, its Chairman Rohtas Goel, Managing Director Mohit Goel and others from the securities market for two years for misrepresentation in the company’s financial statements. The latest…
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Fuel consumption in September fell by 1.6% year-on-year to 17.92 million metric tons, its lowest in two years, oil ministry data showed on Monday (October 7, 2024), as above-normal monsoon rains continued to weigh on diesel demand. WHY IT IS IMPORTANT: India is the third-largest consumer and importer of oil. The data is a proxy…
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Bombay Stock Exchange (BSE). File | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty settled lower for the sixth straight session on Monday (October 7, 2024) due to heavy selling in bellwether stocks including HDFC Bank and Reliance Industries amid mixed trends in the global markets and outflow of foreign funds. Falling for the…
Photo used for representation purpose only. | Photo Credit: Getty Images/iStockphoto As part of the comprehensive review of the Income Tax Act announced by Finance Minister Nirmala Sitharaman in the Budget, the Central Board of Direct Taxes (CBDT) on Monday (October 7,2024) invited inputs and suggestions from taxpayers and the public at large. These ideas…
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Image used for representational purpose. | Photo Credit: Reuters The rupee pared its initial gains and settled on a flat note at 83.99 against the U.S. dollar on Monday (October 7, 2024) on selling pressure from foreign funds and weak tone in the domestic markets. Forex traders said elevated crude oil prices and escalating tensions…
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Manish Tiwary was the country manager of Amazon India. File. FMCG major Nestle India on Monday (October 7, 2024) announced a change of leadership with the appointment of Manish Tiwary as the Managing Director of the company after the incumbent, Suresh Narayanan, retires in July next year. Mr. Tiwary, who was the country manager of…