Highlights of the day: Byju's arranges for alternative credit, begins March salary payouts

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10:15 PM

Total solar eclipse begins in the middle of the Pacific and will sweep across North America, reports AP.

9:13 PM

I-T dept finds mismatch in rent paid by employees against amount received by recipients

The Income Tax Department on Monday said it has found mismatch between rent paid by salaried employees vis-a-vis rent received by the recipient for 2020-21 fiscal year and conducted data analysis for high-value cases. Refuting reports that there is a special drive by the department to reopen cases regarding House Rent Allowance (HRA), the Central Board of Direct Taxes (CBDT) said the verification of rent paid by the tenant and the rent received by the recipient was done in a "small number" of cases.

8:46 PM

Byju’s arranges for alternative credit, begins March salary payouts

 

Embattled edtech major Byju’s on Monday told staffers that it has commenced salary disbursements for the month of March and will complete the same by April 18, reports ET.

 

“Unfortunately, despite our efforts, we haven’t yet secured approval to access the rights issue funds, because of the action of four foreign investors. However, we have arranged an alternative line of credit to ensure timely payments,” the management team wrote in an email, reviewed by ET.

 

8:26 PM

Bain Capital to sell stake worth $431 mn in Axis Bank, says report

Private equity firm Bain Capital is likely to sell stake worth $431 million in India's Axis Bank via a block deal, CNBC-TV18 reported on Monday, citing sources.

8:25 PM

Fire breaks out at chemical factory in Punjab's Mohali district

A fire broke out at a chemical factory in Derabassi town in Punjab's Mohali district on Monday, officials said. There was no report of any casualty in the incident, they said. Thick, billowing smoke could be seen rising from the factory as several fire tenders were pressed into service to douse the flames.

8:14 PM

SC bats for effective SOP for trouble-free access of airports to persons with disability

The Supreme Court on Monday underlined the need for an effective standard operating procedure (SOP) to ensure trouble-free access of airports across the country to persons with disability. A bench headed by Chief Justice D Y Chandrachud was hearing a plea filed by a wheelchair-bound woman who had faced difficulties at Kolkata airport on January 30.

7:58 PM

Suspended Maldivian minister mocks Indian flag; apologises after criticism

A Maldivian minister, who was suspended in January for her derogatory remarks against Prime Minister Narendra Modi, has now mocked the Indian flag after including parts of the flag in an altered campaign poster of the opposition Maldivian Democratic Party (MDP), according to a media report on Monday. In a post on X, former deputy youth minister Mariyam Shiuna has apologised for the content of her post. "I would like to address a recent social media post of mine that has garnered attention and criticism. I extend my sincerest apologies for any confusion or offense caused by the content of my recent post.," she wrote.

7:34 PM

BJD alleges misuse of EC's name by BJP leaders in Odisha

The BJD on Monday lodged a complaint with the Election Commission (EC), alleging that certain leaders and candidates of Odisha BJP are exploiting the poll panel's name and intimidating state government officials on election duty with transfers if they do not support saffron party nominees in the polls. Six IPS and two IAS officers from Odisha were recently transferred by the EC. According to Sasmit Patra, BJD's general secretary and national spokesperson, Odisha BJP candidates and leaders are leveraging these transfers as a means to threaten government officials involved in election duties.

6:49 PM

33,207 Palestinians killed, 75,933 injured so far in Israel's offensive in Gaza

At least 33,207 Palestinians have been killed and 75,933 others wounded in Israel's military offensive on Gaza since Oct.7, Gaza's health ministry reported on Monday. The last six months of the war has left most of its 2.3 million people homeless and many at risk of famine.

6:32 PM

NSE declares May 20 as trading holiday for elections in Mumbai

India's stock exchange operator NSE on Monday declared May 20 as a trading holiday on account of parliamentary elections to be held in the country's financial capital Mumbai.

6:28 PM

RBI imposes curbs on Shirpur Coop Bank over deteriorating financial position

The Reserve Bank of India (RBI) on Monday imposed several restrictions on Maharashtra-based Shirpur Merchants' Co-operative Bank, including withdrawal of funds by customers, in the wake of the lender's deteriorating financial position. In a statement, the RBI said from the close of business on Monday, the bank will not grant or renew any loans and advances, make any investment, incur any liability, transfer or otherwise dispose of any of its properties or assets, without prior approval of the central bank in writing.

5:51 PM

Delhi Police detains TMC leaders holding dharna outside EC office

TMC leaders were detained by Delhi Police on Monday while they were holding a dharna outside the Election Commission's office, demanding that the chiefs of CBI, NIA, ED and Income Tax Department be changed. A 10-member delegation of Trinamool Congress (TMC) had announced the dharna after meeting a full bench of the Election Commission (EC) to press their demand.

 

TMC MPs Derek O'Brien, Mohammed Nadimul Haque, Dola Sen, Saket Gokhale and Sagarika Ghose, MLA Vivek Gupta, former MPs Arpita Ghosh, Santanu Sen and Abir Ranjan Biswas, and party's students' wing West Bengal vice president Sudip Raha were detained.

5:36 PM

Gold rises by Rs 350 to hit new record high of Rs 71,700

Gold prices in the national capital hit an all-time high on Monday and jumped Rs 350 to Rs 71,700 per 10 grams following a pick-up in safe-haven demand for the precious metal, according to HDFC Securities. The yellow metal prices have seen remarkable gains so far in 2024, becoming costlier by over Rs 7,700 per 10 grams. In the previous session, gold had ended at Rs 71,350 per 10 grams.

5:18 PM

India's Tata Motors says JLR sales up 11% in Q4

Indian automaker Tata Motors said on Monday its Jaguar Land Rover's fourth-quarter sales rose 11% from a year earlier to 114,038 units, driven by increased production and sustained global demand.

5:00 PM

How many will be jailed before polls?: Supreme Court asks, giving relief to Tamil Nadu YouTuber

The top court today reinstated the bail granted to YouTuber Sattai Duraimurugan, who was accused of making derogatory remarks against Tamil Nadu Chief Minister MK Stalin. The Supreme Court observed, "If before elections we start putting behind bars everyone who makes allegations on YouTube, imagine how many will be jailed."