Posts in category All News
Tuesday Briefing: Dagestan Attack Revives Terrorism Fears in Russia (24-06-2024)
Also, a shift in Israel’s focus and extreme heat in Mecca.
Banks in a GST fix over RBI’s directive to levy penal charges (24-06-2024)
The Reserve Bank of India's directive to levy penalties only in the form of 'penal charges' is posing a tax dilemma for banks. Banks fear that the indirect tax on such levies would attract the goods and services tax (GST). The new rule, which came into force from April 1, 2024, was brought in by the central bank to ensure "reasonableness and transparency" in disclosure of penal interest. However, banks have asked the tax authorities to spell out their stand on the issue.
Reliance Capital lenders set out conditions to grant extension to Hindujas (24-06-2024)
Lenders of Reliance Capital, promoted by Anil Ambani, have submitted an affidavit to the bankruptcy court stating conditions for granting a 90-day extension to the winning bidder, a Hinduja Group entity. The extension would require depositing Rs 2,750 crore into a lender's escrow account and paying 12% interest on the Rs 9,660-crore offer. The National Company Law Tribunal is scheduled to consider Hinduja Group's plea for the extension on Tuesday. Earlier, NCLT had instructed Hinduja Group's IndusInd International Holdings (IIHL) to execute the plan by May 27th.
PM tried to break Constitution: Mallikarjun Kharge’s retort (24-06-2024)
Congress chief Mallikarjun Kharge criticized Prime Minister Modi for repeatedly discussing the imposition of Emergency by Indira Gandhi, accusing him of questionable actions and breaking democratic norms. Kharge alleged that the PM's speech skipped important issues such as the NEET paper leak, caste census, train accidents, and violence in Manipur.
Amid outflow fears, RBI reviews LCR by carrying out special audits with banks (24-06-2024)
Recently, the Reserve Bank of India conducted special audits with banks to verify their holdings of eligible securities for maintaining the liquidity coverage ratio (LCR). This action coincides with the central bank's apprehension regarding potential sudden withdrawals via digital banking channels. Introduced post the 2008 global financial crisis, LCR mandates banks to retain specified amounts of government bonds that can be quickly sold to manage a theoretical 30-day stress period featuring significant cash outflows.
262 Lok Sabha members take oath; ‘Modi, Modi; NEET’ cries heard in house (24-06-2024)
Prime Minister Narendra Modi took the oath as the opening day of the new Lok Sabha began. The BJP MPs raised chants of 'Modi, Modi' and 'Jai Shri Ram'. Opposition INDIA bloc members held up copies of the Constitution during the oath. The 262 members took oaths in Hindi, English, native languages, and Sanskrit. Senior BJP MP Bhartruhari Mahtab presided over the oath-taking of new members.
Lost Lok Sabha seat due to confusion: NCP-SP to ECI (24-06-2024)
The NCP-SP faction protests the Election Commission's decision to assign independent candidates the trumpet symbol, causing confusion with its 'tutari' blow horn. They claim it led to losing a Lok Sabha seat and demand a change for the upcoming polls.
Leadership rebellion brewing within Congress in Jharkhand (24-06-2024)
Ahead of the Jharkhand elections, a rebellion brews within Congress for leadership change, with leaders pushing for new appointments and discussing Cabinet vacancies.
Rahul Gandhi takes front row Lok Sabha seat amid LoP buzz (24-06-2024)
Congress members are expressing hope about Rahul Gandhi acquitting to the Congress Working Committee's resolution to be the Leader of the Opposition in the new Lok Sabha. Gandhi was persuaded by Lower House colleagues to occupy a front row seat, which was allotted to the then Congress floor leader Adhir Chowdhury in the previous Lok Sabha. He has demonstrated his privilege by keeping the resolution of the Congress Working Committee pending since June 8.
Mamata Banerjee objects to Teesta talks with Bangladesh without Bengal, Centre says claim ‘false’ (24-06-2024)
The Centre dismissed West Bengal's claim of not being consulted on the Internal Review of the India-Bangladesh Treaty of 1996 on Sharing of the Ganga/Ganges Waters at Farakka. The state government nominated the Chief Engineer for the committee and conveyed their 30-year demand. CM Mamata Banerjee expressed grievance over exclusion from talks with Bangladesh, emphasizing the importance of consultation.