Several smaller fintechs have tie-ups with banks and non-bank finance companies for small-ticket personal loans

banks, loans, bank regulations, fintech

Reuters

The 2023-24 sugar season started in October, while the ethanol supply year (ESY) started in November

sugarcane juice, ethanol

Business Standard

Tata wants to construct the factory in Hosur in the southern Tamil Nadu state, according to people with knowledge of the matter.

iPhone

Bloomberg

Tata Steel, Vedanta, NMDC among mining giants exploring the opportunity

mineral block, mining

Stock market LIVE on December 8, 2023: The Nifty took 60 trading sessions to cross 21,000 from the 20,000 mark that it touched on Sept 11

NSE, Stock market

The state-owned insurer is ranked after Allianz SE, China Life Insurance Company and Nippon Life Insurance Company

LIC. life insurance corporation

Meta had announced Messenger support for Instagram in 2020 that allowed cross-platform messaging support between Facebook and Instagram accounts

Instagram and WhatsApp are the main source of FB’s $56-bn business

Instagram and WhatsApp are the main source of FB's $56-bn business

Right-wing group Shri Rashtriya Rajput Karni Sena's president Sukhdev Singh Gogamedi was shot dead by unidentified assailants here on Tuesday, police said.
According to police, the incident took place in the Shyam Nagar area this afternoon.
"As per initial reports, four people entered a house where Gogamedi was present and opened fire at him. One of Gogamedi's security personnel and another person were injured in the firing," Rajasthan Director General of Police (DGP) Umesh Mishra told PTI.
Jaipur Police Commissioner Biju George Joseph told PTI that Gogamedi was rushed to a private hospital, where he succumbed to his injuries.

Rashtriya Rajput Karni Sena activists, Karni Sena, Rajput activists

Press Trust of India

The Enforcement Directorate (ED) has confiscated assets worth Rs 15,186.64 crore under the stringent prevention of money laundering law and almost all of these have been restituted to public sector banks, Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday.
Replying to supplementary questions in the Rajya Sabha, the minister said specific actions through various legal provisions are being taken against defaulters and as a result, "huge monies" are going back to the banks.
Sitharaman informed the House that as of March 31, 2023, legal suits were filed for recovery against 13,978 loan accounts, action under the SARFAESI Act has been initiated in 11,483 cases, FIRs have been filed in 5,674 cases, and an aggregate amount of Rs 33,801 crore has been recovered.
"As of December 1, 2023, assets amounting to Rs 15,186.64 crores under the PMLA have been confiscated by the ED out of which Rs 15,183.77 crores have been restituted to the Public Sector Banks," she said.
Chair

Nirmala Sitharaman, Rajya Sabha

As many as 71 show cause notices have been issued to online gaming companies for alleged GST evasion of over Rs 1.12 lakh crore during financial years 2022-23 and 2023-24, the finance ministry said on Tuesday.
The total Goods and Services Tax (GST) evasion detected by central GST officers in the current fiscal (till October, 2023) was Rs 1.51 lakh crore, while 154 persons have been arrested. A recovery of Rs 18,541 crore was made so far this fiscal.
Giving details of detection of GST evasion, Minister of State for Finance Pankaj Chaudhary said in 2022-23 fiscal, evasion to the tune of over Rs 1.31 lakh crore was detected and 190 persons were arrested. A total of Rs 33,226 crore was recovered during the fiscal.
In 2021-22, 2020-21 and 2019-20, GST evasion stood at Rs 73,238 crore, Rs 49,384 crore and Rs 40,853 crore, respectively.
To a question in the Rajya Sabha on the amount of tax evasion and number of show cause notices issued to online gaming companies, Chaudhary said: "71 show

GST, Gaming

As rescue boats retreat from the flooded streets and crocodiles return to their habitat, a pressing question remains: What about our focus on urban planning?

Chennai flood

Shares of Adani Total Gas zoomed 20 per cent to Rs 1,053.80 in intraday trade today on the back of heavy volumes

Sensex, Nifty, stock brokers

It is Western "universalism", the old wolf of imperialism in lamb's clothing, that is questionable

nationalism

Deputy Governor Swaminathan J on Friday said the Reserve Bank wants the lenders to "curtail" consumption loans or unsecured credit, where the end-use is undefined.
In the comments, which come within weeks of the RBI raising risk weights on unsecured lending to protect financial stability, Swaminathan clarified that the intent of the RBI is not to deny or ration credit.
Replying to a question on whether fears of unsecured loans being used to punt on the equity market led the RBI to put some restrictions on unsecured lending, Governor Shaktikanta Das said the question is "very hypothetical" but admitted that there have been some anecdotal write-ups.
" What we would like to curtail and expect the lending institutions to provide for more by way of additional risk weight, is some of those consumption-led segments or unsecured credit which do not have a defined end use," Swaminathan told reporters.
He said, if there has been a recalibration of the growth number in such credit which sugge

Reserve Bank of India, RBI

Set in the mid-1960s, the film signals virtues through reference to corporate greed, gender politics, and global warming, but delivers solutions that are too easy

Archies

The Maharashtra government did not take any step and woke up only after the court issued an order, the Bombay High Court censured it on Friday, after it was informed that the notification for fire safety rules and regulations would be issued by May 2024.
The high court earlier this week came down heavily on the state government for dragging its feet on the implementation of fire safety rules and regulations despite a report submitted by an expert committee in February this year.  The court had sought to know from the Principal Secretary of the State Urban Development Department a timeline by when the notification would be issued.  On Friday, additional government pleader Jyoti Chavan submitted to a division bench of Chief Justice D K Upadhyaya and Justice Arif Doctor that by May 2024 the mandated procedure would be completed and the final notification would be issued.  The bench, while accepting this statement, remarked that had the government acted on the committee's report in ...

Gavel, law

Maharashtra Deputy Chief Minister Devendra Fadnavis on Friday told the legislative assembly that the state government was taking necessary action on the demand to withdraw cases filed against pro-Maratha reservation protesters in Jalna district.  The police had used mild force against the Maratha protesters in Jalna, he said, adding that 79 police personnel and 50 persons were injured during the face-off.
Fadnavis, who also holds the home portfolio, said this in his written reply to questions asked by more than 20 legislators on the Maratha quota issue.
"The state government will review the cases filed against the protesters involved in the Maratha quota agitation and take appropriate action. The government has also sent some of the police officials on compulsory leave and later transferred them out of the district," he said.
Activist Manoj Jarange had sat on an indefinite fast in the last week of August at his native Antarwali Sarati village in Jalna district. However, the agitatio

Devendra Fadnavis

The Bombay High Court on Friday pulled up the Maharashtra government for not releasing or spending the entire budgetary allocation for procurement of drugs and medical equipment, citing that it was letting the amount lapse at the cost of the healthcare system.
A division bench of Chief Justice D K Upadhyaya and Justice Arif Doctor sought to know from the government what steps have been taken to spend the budgetary allocation, the reasons for not releasing the amount entirely in the past and for not using the released sum.
The court was hearing a bunch of petitions, including one initiated suo motu (on its own), raising concerns over the high number of deaths at government hospitals in Nanded and Chhatrapati Sambhajinagar districts.
Advocate General Birendra Saraf informed the bench that as per earlier orders, the government has now appointed a chief executive officer for the Maharashtra Medicines Procurement Authority, and the process of issuing tenders to procure drugs and equipmen

Earlier, Union Railway Minister Ashwini Vaishnaw on Thursday also had shared a spectacular video of India's first bullet train terminal built at Sabarmati Multimodal transport hub in Ahmedabad

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'The Archies' review: Vapid nostalgia that avoids talking about politics

Maharashtra govt woke up only after court order: HC on fire safety rules

Will demand to withdraw FIRs against Maratha protesters: Fadnavis

HC raps Maharashtra govt for letting budgetary allocation for drugs lapse

Bullet train to be functional within 3 yrs, Ayodhya airport by Dec end: Min

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