They will have to pay 18 per cent GST regardless of the service they provide

Screenshot

Stocks to watch on Thursday, September 28 2023: Telecom stocks too may see some action after Trai data for July showed considerable new subscriber additions for Jio and Airtel; and loss of market shar

BSE, stock market, sensex

Closing Bell on September 28, 2023: 
Tech M, which sank 4 per cent, was the top laggard on the benchmarks after Morgan Stanley downgraded the stock to 'underweight'

bulls, bears, markets, sensex

Vedanta Ltd.'s parent, Vedanta Resources, will remain the holding company, the people said. Deliberations are ongoing and no final decisions on the structure or timing of the de-merger have been made

Vedanta refinery

RBI says widening due to higher trade deficit, lower surplus in net services and decline in private transfer receipts

current account deficit

The total count of fire sites decreased from 77 to 67 by 2009 and further dropped to 27 by 2021

Forest fire

A unified registration portal for GOBARdhan has been introduced to streamline the registration of compressed bio-gas (CBG) and biogas plants in the country, the Ministry of Jal Shakti said on Monday.
The Department of Drinking Water and Sanitation (DDWS), in a statement, said that more than 1,163 biogas plants and 426 CBG plants registered on the portal are eligible for assistance under the Market Development Assistance (MDA) scheme of the Department of Fertilizers.
According to new guidelines, MDA of Rs 1500/MT will be granted for sale of Fermented Organic Manure (FOM), Liquid Fermented Organic Manure (LFOM), and Phosphate Rich Organic Manure (PROM) produced at biogas and CBG plants under the GOBARdhan initiative.
The GOBARdhan initiative aims to get a boost as the new guideline will increase the uptake of organic fertilizer produced from the plants, the statement said
"Registration of manufacturing plants on the unified GOBARdhan portal of the DDWS and adhering to Fertilizer Cont

Representative Image of Biogas Plant (Source: Wikipedia)

The Reserve Bank has imposed several restrictions on Ahmedabad-based Colour Merchants Co-operative Bank, including capping withdrawal at Rs 50,000 per customer, in the wake of the deteriorating financial condition of the lender.
The restrictions, imposed in the form of 'directions', have come into effect with the close of business on September 25, 2023, the central bank said in a statement. The restrictions will remain in force for six months.
According to the directions, the bank without prior approval of the RBI cannot make any grant or renew loans, make any investment, incur any liability, and accept fresh deposits, among others.
"In particular, a sum not exceeding Rs 50,000 of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn...," the RBI said.
It also said the eligible depositors would be entitled to receive deposit insurance claim amounts of his/her deposits up to Rs 5 lakh from the Deposit Insura

RBI, SHAKTIKANTA DAS, RESERVE BANK OF INDIA

Indian shooters will once again be the main source of medal hopes on Tuesday, September 26, the third Day of the Asian Games 2023 competition. Indian men's hockey team will also play

Indian flag bearers Lovlina Borgohain and Harmanpreet Singh at the Asian Games 2023. Photo: X

Asian Games 2023

The Uttar Pradesh RERA on Monday directed promoters of real estate projects to provide name, designation, mobile number, e-mail ID, residential address, office address etc. of their person authorized for correspondence, officials said.
This has been done to ensure uninterrupted correspondence with promoters, the UP Real Estate Regulatory Authority (RERA) said, noting that contact numbers of some promoters given at the time of project registration are found inaccessible.
"We have come to know through various means that the mobile numbers provided by some promoters at the time of project registration are non-functional/not in use and are switched off.
"Some cases were also received in which either no one picks up the mobile number provided or a suitable response is not received during the conversation," UP RERA said.
To address this issue, UP RERA has issued new guidelines to promoters to ensure uninterrupted communication with their stakeholders, especially buyers.
The promoter mus

Real Estate, Realty sector, Construction, Realty

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

India Canada

India is seeing all-time high peak power and energy demand growth (21 per cent, 15 per cent YoY in Aug'23) and seeing increasing shortage during non-solar hours

coal, fossil fuel

Weak demand, global slowdown add to their woes

Crude oil

Das asserted that directors in UCBs, who are elected to their positions, must possess expertise in diverse banking functions, including risk management and information technology

Shaktikanta Das

Co-working spaces firm EFC India on Thursday said it is exploring various options, including Follow-on Public Offer (FPO), to raise funds for expanding its capacity to 60,000 seats by the end of this fiscal.
The company said in a statement that it has recently signed around 5 lakh square feet of office spaces in Pune, Noida, Hyderabad, and Kolkata.
"We intend to expand the number of seats from the present 25,000-plus to nearly 60,000 by the end of this financial year. We are exploring various options, including FPOs, to raise the necessary funds for these expansions. However, I cannot comment on how much money will be raised at the moment," Umeash Sahhaaii, founder & CEO of EFC Ltd, said.
The company has recently concluded a fundraising round of Rs 90 crore through the preferential issue for future expansion.
The EFC, which commenced its operations in 2012, is into office infrastructure, co-working spaces, and office design segments. The company got listed on BSE through a reverse

rupee, loan, indian rupee

Lok Sabha Speaker Om Birla has referred MPs' complaints on the issue involving BJP member Ramesh Bidhuri's use of objectionable words against BSP's Danish Ali to the Privileges Committee, sources said on Thursday.
While Ali and several other opposition MPs, including Congress leader Adhir Ranjan Chowdhury and DMK's Kanimozhi, demanded action against Bidhuri, several BJP parliamentarians like Nishikant Dubey said the BSP member "incited" the South Delhi MP when he speaking in the House and urged the Speaker to look into this aspect as well.
Sources said the Chair has sent all these complaints to the Privileges Committee headed by BJP MP Sunil Kumar Singh.
In a post on X, Dubey thanked the Speaker for referring the matter to the committee.
"It was possible because the BJP has a majority in Lok Sabha," he said, as he cited several previous incidents to assert that no committee was formed to probe these issues and nor was anyone punished.
In this context, Dubey alleged that the ...

Om Birla, Lok Sabha speaker

Genpact said it was the first company to provide genAI solution for financial crime risk analysis as well as to utilise Amazon Bedrock

Genpact logo

Eutelsat on Thursday announced the completion of a merger with OneWeb, creating the world's first geostationary-low earth orbit (GEO-LEO) satellite space connectivity company.
The completion of Eutelsat Communications' all-share combination with OneWeb was announced following the approval of the Ordinary and Extraordinary General Meeting of Eutelsat shareholders, a statement from Bharti Enterprises said.
Headquartered out of Paris, the merged entity will have Bharti Enterprises as its largest shareholder with a 21.2 per cent share.
The Bharti Group is committed to being a long-term strategic investor in the Eutelsat Group, the statement said
"Today we have created a company, which will bring connectivity to all people around the world and will help us achieve our mission of last-mile connectivity," Sunil Bharti Mittal, founder and chairman of Bharti Enterprises said in a statement.
Sunil Bharti Mittal will be the Vice President (Co-Chair) and Shravin Bharti Mittal, who spearheaded

oneweb satellite launch

CDIL Semiconductors has also partnered with the government's Semi-Conductor Laboratory (SCL) in Mohali

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Co-working firm EFC exploring FPO, other ways to raise funds for expansion

Lok Sabha Speaker refers complaints on Ali-Bidhuri matter to committee

Genpact integrates GenAI in financial crime analysis to save time and costs

Eutelsat, OneWeb merge to create GEO-LEO space connectivity company

CDIL 1st Indian firm to make silicon carbide chips, starts unit in Mohali

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Vedanta Ltd preparing to demerge sprawling operation, says report

Current account deficit widens to 1.1% of GDP in June qtr at $9.2 bn

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