RBI imposes restrictions on two co-op banks; customers can’t withdraw funds

RBI imposes restrictions on two co-op banks; customers can’t withdraw funds

Wednesday, 20 July 2022 | PTI | Mumbai

Customers of Karnataka-based Sri Mallikarjuna Pattana Sahakari Bank Niyamita and Maharashtra-based Nashik Zilla Girna Sahakari Bank will not be able to withdraw funds from their accounts with the RBI imposing restrictions on the lenders. The restrictions have been imposed on the two cooperative banks by the Reserve Bank of India in...

Management capability of Indian firms has risen: AIMA-KPMG study

Tuesday, 19 July 2022 | PNS | New Delhi

The 2022 study of management capability of Indian enterprises by All India Management Association (AIMA) and KPMG has produced a higher overall score compared to the previous edition of the study in 2018. This year's overall Management Capability Development Index (MCDI) score stands at 74.5 compared to 71.6 in 2018. In...

Beer market gaining prominence in India

Tuesday, 19 July 2022 | Agencies | New Delhi

The beer market is gaining prominence in India owing to a rise in disposable incomes, popularity of low-alcohol beverages and growing social acceptance, said United Breweries Ltd. The company, which is controlled by Dutch brewing firm Heineken NV, intends to enhance its product line through innovation thus catering to a larger...

Govt declares ‘zero coupon zero principal instruments’ as securities

Tuesday, 19 July 2022 | PTI | New Delhi

In the run up to setting up a social stock exchange, the Government has declared “zero coupon zero principal instruments” as securities. Zero coupon zero principal instrument means an instrument issued by a Not for Profit Organisation (NPO) which will be registered with the social stock exchange segment of a recognised...

Ramp up safety oversight: Scindia to airlines’ chiefs

Tuesday, 19 July 2022 | Pioneer News Service | New Delhi

Union Civil Aviation Minister Jyotiraditya Scindia held one-on-one meetings with chiefs of Indian carriers on Monday, asking them to ramp up safety oversight. There have been multiple technical malfunction incidents in Indian carriers' planes during the last one month.  Scindia told each airline to take all necessary steps that are...

Indigo bars LDF convenor, YC activist from flying for onboard unruly behaviour

Tuesday, 19 July 2022 | Pioneer News Service | New Delhi

IndiGo has barred Kerala's ruling Left Democratic Front's convenor E P Jayarajan and two Youth Congress activists from flying with the airline over their alleged unruly behaviour onboard a flight in which Chief Minister Pinarayi Vijayan was travelling to Thiruvananthapuram from Kannur last month. The ban is up to three weeks...

Ola to invest USD 500 mn to set up battery innovation centre in Bengaluru

Tuesday, 19 July 2022 | PTI | Bengaluru

Ola Electric on Monday announced the investment of USD 500 million for setting up its state-of-the-art Battery Innovation Centre (BIC) in Bengaluru. BIC will be one of the world’s largest and most advanced cell R&D facilities with more than 165 “unique and cutting-edge” lab equipment to cover all aspects of cell...

Stock exchanges, persons dealing in securities market to pay 18 pc GST on Sebi’s fee

Tuesday, 19 July 2022 | PTI | New Delhi

Market infrastructure institutions, including stock exchanges, and persons dealing in the securities market will need to pay a GST of 18 per cent on the fees charged by the regulator Sebi. The new tax rate will be effective from Monday, the Securities and Exchange Board of India (Sebi) said in a...

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