Sebi orders Growpital to shut down MUMBAI: Markets regulator Sebi has ordered Growpital Platform, an unauthorised collective investment scheme (CIS) that had mobilised about Rs 192 crore to invest in agricultural farms for tax-free returns to investors, to wind up and return investors’ money along with 12% interest. Twenty eight entities associated with Growpital have…
Pension Fund Regulatory and Development Authority (PFRDA) Chairperson S. Ramann MUMBAI: To ensure regulatory guardrails around pension products while giving customers greater choice, Pension Fund Regulatory and Development Authority plans to roll out a suitability platform that will assess NPS subscribers’ risk appetite and ask suitability-related questions before they select a scheme.“Suitability and risk appetite…
IIP surges 8% in August, nearly doubles year-ago growth on manufacturing, power boost NEW DELHI: Industrial production rose 8% in Aug as against 4.7% expansion recorded a year ago, on account of robust growth in manufacturing and electricity sectors.Sequentially also, industrial production witnessed acceleration from an upward revised figure of 7.4% in July, latest data…
UAE investors plan fresh $25 billion India bet, aim to take total to $100 billion: Goyal MUMBAI: Union minister of commerce Piyush Goyal said UAE investors have expressed intent to invest another $25 billion, on the back of $25 billion already invested, with an eventual objective of taking investments in India to $100 billion.Citing the…
Piyush Goyal to meet US counterparts on trade deal during G20 visit NEW DELHI: Commerce and industry minister Piyush Goyal, who will visit the US for the meeting of G20 trade ministers, will meet his American counterparts to discuss the bilateral trade deal.The two sides have been engaged on the issue but a final outcome…
iMa.ai raises $150 million to power next-gen AI chips for robotics, drones BENGALURU: SiMa.ai, a US-India AI platform company focused on physical AI, has raised $150 million at a $1.4 billion valuation. The funding brings its total capital raised to $500 million as the company prepares to scale its next-generation AI silicon for robotics, drones…
Aashirvaad eyes dairy growth in eastern India on rising demand for branded milk BENGALURU: ITC is strengthening its presence in the fresh dairy segment in Eastern India through its flagship Aashirvaad brand, betting on rising demand for branded milk and value-added dairy products across Bihar, West Bengal and Jharkhand. The diversified conglomerate entered the fresh…
The UFBU agreed to defer the agitation programmes and strike actions that had been planned, its statement said. Bank customers dreading a delay in transactions due to the proposed three-day bank strike have reason to cheer as the United Forum of Bank Unions (UFBU) has decided to defer the move.This means that all banks across…
Gold prices fell sharply on Monday, extending losses to more than 2%, as a surge in oil prices stoked inflation concerns and strengthened expectations that the US Federal Reserve could keep interest rates higher for longer.Spot gold fell 2.1% to $4,198.10 an ounce as of 9:35 am IST, putting it on track for its biggest…
While examining the ITR, the ITAT Delhi found that the bank account details had been provided through Form 3CD. (Image for representative purpose only) You make large cash deposits in your bank account, but report a much lower income in your tax return. The bank reports the deposits to the Income Tax Department as part…
