Top Headlines: PSBs to hire on monthly basis, Sebi goes to SC, and more

With the number of employees in public-sector banks steadily declining over the past 10 years, the government has asked the lenders to chalk out a plan to improve staff strength. The Securities and Exchange Board of India (SEBI) has moved the Supreme Court against New Delhi Television (NDTV), the media company said in an exchange filing. Read more on these in our top headlines.

Govt declares PFI as unlawful association for 5 years with immediate effect

The Central Government on Tuesday declared the Popular Front of India (PFI) and its associates or affiliates or fronts as an unlawful association with immediate effect for a period of five years. "PFI and its associates or affiliates or fronts operate openly as a socio-economic, educational and political organization but, they have been pursuing a secret agenda to radicalize a particularsection of the society working towards undermining the concept of democracy and show sheer disrespect towards the constitutional authority and constitutional set up of the country," said the government notification. Read more

Amid falling staff strength, PSBs may soon start hiring on a monthly basis

With the number of employees in public-sector banks steadily declining over the past 10 years, the government has asked the lenders to chalk out a plan to improve staff strength. In a meeting of chiefs of state-run banks with top finance ministry officials last week, the ministry suggested to them preparing a plan for recruitment every month, sources aware of the development told Business Standard. Read more
 

Sebi moves Supreme Court against NDTV over SAT order

The Securities and Exchange Board of India (SEBI) has moved the Supreme Court against New Delhi Television (NDTV), the media company said in an exchange filing on Tuesday. The markets regulator has filed an appeal in the apex court over an order passed by the Securities Appellate Tribunal (SAT) on July 20, NDTV said, coming within days of the founder-promoters of the broadcast company moving the Supreme Court over the same order. Read more

India's $2-billion online gaming industry jolted by taxing times

Trumped by twin shocks — a Rs 21,000-crore show-cause notice from the Directorate General of GST Intelligence on Gameskraft, and the Tamil Nadu cabinet’s nod to an ordinance seeking a ban — stakeholders in India’s $2-billion online gaming industry are asking for the sector to be treated as entertainment and not gambling. Sameer Barde, CEO, E-Gaming Federation, pointed out that a Group of Ministers (GoM) was formed to give recommendations for a fair and equitable GST regime for all forms of gaming. Read more

Telecom may be first strategic sector to be picked up for privatisation

Telecommunications (telecom) may be the first strategic sector to be shortlisted for privatisation under the new Public Sector Enterprises (PSE) Policy, 2021, since a series of meetings have been held to discuss recommendations made by the NITI Aayog, an official told Business Standard. Read more

Consumer companies expect strong sales revival this festival season

Fast-moving consumer goods (FMCG), consumer durables and e-commerce companies see strong sales this festival season as the impact of the Covid-19 pandemic wanes. While consumer durables sales picked up last year itself, FMCG companies expect a stronger revival this year compared to the 2019 festival season, aided by increased rural spending due to good monsoon rains and higher rabi crop realisations. There are expectations of a good kharif crop as well. Read more