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Sebi will soon take action against some market operators and senior staff members of about a dozen listed blue-chip firms for their alleged involvement in leak of price-sensitive information through WhatsApp . The companies may also face censure action by the market watchdog for alleged lapses in safeguard mechanism to check leak of unpublished price sensitive information (UPSI), including financial results before they were made public for all investors, regulatory sources said. The regulator is close to completing its probe into the matter, including for suspected unlawful gains through insider trading on the basis of leaked information, and is collating the details it had sought from all concerned companies, the officials said. Almost all the companies have replied to Sebi 's queries in this regard. According to top officials, the regulator is taking a tough stand on the companies that fail to fix individual responsibility for any leak of price-sensitive informa...

British Prime Minister Theresa May on Sunday told US President Donald Trump that she has "deep concern" at his decision to raise tariffs on steel and aluminum. A Downing Street spokesperson said May had a telephone call with Trump earlier Sunday, in which May also said that multilateral action was the only way to resolve the problem. "The Prime Minister raised our deep concern at the president's forthcoming announcement on steel and aluminum tariffs, noting that multilateral action was the only way to resolve the problem of global overcapacity in all parties' interests," the spokesperson said in a statement, Xinhua reported. Trump has said he plans to slap a 25-percent tariff on steel imports and 10 percent on aluminum next week. He has also threatened to increase taxes on European cars if the EU retaliates against his steel and aluminum tariffs. May's Cabinet Office minister, David Lidington, also rebuked Trump when speaking on ...

Pushed with the aid of decrease refunds and a demonetisation-subsidized better base, direct taxes have come to the help of the government in its warfare to satisfy its financial deficit target for 2017-18. Direct tax series, net of refunds, has risen 18.7 in step with cent till Monday, in opposition to the 15.7 in step with cent projected within the Budget Estimates (BE). In absolute terms, the parent touched Rs 6.89 trillion, representing 70.3 in keeping with cent of the BE of Rs nine.8 trillion. which includes refunds, gross direct tax collection rose thirteen.five in step with cent to Rs eight.11 trillion. This may be attributed to lower refunds, to the music of Rs 1.22 trillion as on Monday, in opposition to Rs 1.34 trillion at this time a 12 months earlier than, in addition to a higher tax base due to demonetisation. Direct tax series has proven significant improvement throughout all parameters, in terms of increase in each zone. The increase of general gross dire...

The much-awaited movie 'Agnyaathavaasi' of leading Telugu actor Pawan Kalyan was released on Wednesday at 1 am. Hundreds of his fans danced on the roads outside the movies halls in excitement. The film will have seven shows in cinema theatres here in Andhra Pradesh and five in Telangana. While the Andhra Pradesh government granted permission to the cinema halls to screen three special shows from 1 am to 10 am, in addition to four regular shows between 10 am to midnight, the Telangana government on Tuesday allowed theatres to screen a special show from 8 am. The star's fans and cinema enthusiasts in both the Telugu states are expected to enjoy 'Sankranthi' holidays as both the states have relaxed the rules for screening the movie between January 10 and January 17. Telugu is leaving no stone unturned to cash in on the craze and make 'Agnyaathavaasi' a big hit at the US box office. They are promoting the movie heaving and as a part ...

The Shri Rajput Karni Sena on Wednesday called for a ' Bharat Bandh ' (shutdown) on December 1 if Sanjay Leela Bhansali's movie " Padmavati " releases on that date, while the Maharashtra government provided a precautionary security cover for the filmmaker in view of the increasing controversies and growing threats. "We will hold rallies across the country, including Gurugram, Patna, Lucknow and Bhopal before the release date," Lokendra Singh Kalvi, founder-patron of the Shri Rajput Karni Sena, an organisation of the Rajput community, told media persons in Jaipur. He said all communities, including Muslims, supported the Sena on the issue. "We demand a complete ban on the film. Now, we don't want any pre-screening of the movie. All we want is a ban," he said. He claimed that as per the Cinematography Act, the government can withhold the release of a movie for three months even after a go-ahead by the Central Board of Film C...

The government has notified the Banking Regulation (Amendment) Act under which it can authorise the RBI to issue directions to banks to initiate insolvency resolution process to recover bad loans. The banking sector is saddled with non-performing assets (NPAs) of over Rs 8 lakh crore, of which Rs 6 lakh crore is with public sector banks (PSBs). Earlier this month, Parliament had approved the Act, which replaced an ordinance in this regard. The government in May had promulgated an ordinance authorising the Reserve Bank of India (RBI) to issue directions to banks to initiate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Following the ordinance, the RBI had identified 12 accounts each having more than Rs 5,000 crore of outstanding loans and accounting for 25 per cent of total NPAs of banks for immediate referral for resolution under the bankruptcy law. The loan defaulters identified by the RBI include, Essar Steel, Bhushan Steel, AB...

Insurance Regulatory and Development Authority of India (Irdai) on Monday said though Aadhar is not a mandatory requirement for Know Your Customer (KYC) in the insurance sector, it is the most simple form of KYC document. "Aadhar is not mandatory for the (insurance) sector but is the most simple one. On the government level they are creating a platform for all the KYC. "We are also working with the government for very simple KYC. But what can be simpler than a Aadhar," IRDAI Chairman T S Vijayan told reporters on the sidelines of CII's 19th Insurance Summit here. Talking about Life Insurance Corporation's (LIC) shareholdings in listed companies, Vijayan said regulation for investment is 15 per cent, in exceptional circumstances sometimes exemptions are given to invest more. "All the investment should be for the benefit of policy holders and investors and the companies should not be locking the money in and they should use the funds for the polic...

As many as 600 people have died of swine flu so far this year, a more than two-fold rise in such deaths as against last year, the government informed the Rajya Sabha today. Maharashtra alone accounted for almost 50 per cent of all deaths, as it recorded 284 deaths out of the 2,324 cases reported till July 9, Union Health Minister J P Nadda said in a written reply. Gujarat recorded 75 deaths out of 289 infections, while in Kerala 63 out of 1,127 people succumbed to H1N1 complications. In Rajasthan, 59 persons died out of 407 reported cases. Karanataka had 15 deaths out of 2,377 cases, while Telangana and Tamil Nadu registered 17 and 15 deaths out of 1,443 and 2,896 cases, respectively. The country has registered 12,460 swine-flu cases so far this year as compared to 1,786 cases reported last year. Nadda further said the central government has been closely monitoring the seasonal influenza outbreak situation and was in regular touch on the issue. To ensure wider availa...

The Supreme Court on Monday granted the last opportunity to the Maharashtra government to remove illegal encroachments on 908 square metre area on the approach road and near the historic Haji Ali Dargah Shrine in south Mumbai. A bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud granted two weeks to the concerned authorities to remove these encroachments and asked the deputy collector to ensure that its order is complied with. The direction came after the Haji Ali Dargah Trust, which had earlier volunteered to remove the encroachments, expressed inability in completing the task. The court made it clear to the deputy collector of Colaba zone of south Mumbai that "serious consequences" would follow if its order for removing encroachments is not complied within two weeks from today. On May 9, the apex court had lauded the efforts of the Dargah Trust in its attempts to remove encroachments. More News: Financial News Latest Financial News ...

In the 60s and 70s, having a government job added stars to the prestige of an Indian family. It was a phenomenal aspect of one’s personal life. That one Offer Letter from a government organization made solved all the problems of the family including marriage which highly hinged upon it. Then, the entry of foreign companies into the country in the 90s due to the LPG model adopted by the Government under the finance ministry of Dr. Manmohan Singh, followed by the rise of IT sector dishing out lucrative jobs in the 2000s overshadowed the presence of government jobs. However, sensing the impact of geo-political developments of countries at a global level on their jobs and professional undertakings such the Trump government’s impact on the Indian IT sector, the youth have realized the value of government jobs in recent times. The 6th and 7th Pay commission have cemented their aspirations to pursue government jobs that offer the matchless perks and prestige. The 7th Pay commission...

Last year, govt allowed 100% FDI in multi-brand food retail Global e-commerce major   Amazon   is aiming to enter the food retailing sector in India with investment plans of $515 million over the next 5 years. Food Processing Industries Minister Harsimrat Kaur Badal on Thursday confirmed the company’s investment plans while adding that Metro Cash & Carry has also shown interest in food retailing. Back in January, Amazon had filed its application with the Department of Industrial Policy and Promotion (DIPP). Online players Grofers and Big Basket also have also submitted FDI proposals regarding retail trading of food items. While Amazon is one of the major e-commerce players in India, Grofers and Big Basket are into online grocery space. Last year, in June, the government allowed 100 per cent FDI in multi-brand food retail, including through e-commerce. However, the food products have to be produced, processed or manufactured in the country. However, while th...

The government on Monday asked  State Bank of India (SBI) to reconsider its decision to levy penalty on non-maintenance of minimum balance, which the bank plans to hike manifold from April 1 impacting over 310 million savings bank account holders. SBI, according to a source, has also been asked to reconsider charges it proposes to levy on cashtransactions and ATM withdrawals over specified limits. The country’s largest lender has announced imposing penalty ranging from Rs 20-100 on non-maintenance of minimum average balance (MAB) in savings bank accounts from April 1. The penalty is as high as Rs 500 in case of current accounts. The penalty for breach of MAB is being reintroduced after a gap of five years. The bank has also increased the minimum balance requirement by many times, which is as high as Rs 5,000 for account maintained with branches in six metro cities.  Read More