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Last updated on 6 Sep,2024 08:10 AM
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Refresh- Sebi employees protest outside HQ, seek boss Madhabi Puri Buch's resignationMadhabi Puri Buch's resignation demanded: Disgruntled Sebi employees staged a silent protest outside the Mumbai headquarters, demanding the withdrawal of a statement blaming 'external forces' for their grievances and seeking the resignation of their boss. The protest follows an unprecedented complaint to the finance ministry about a toxic work culture under Sebi's leadership.
- Why Sebi officers with Rs 34 lakh starting salary are protesting against Madhabi Buch: Explained in 5 points Sebi officers have protested against chairperson Madhabi Puri Buch, alleging a toxic work culture marked by excessive monitoring, unrealistic targets, and poor treatment. Despite high salaries, employees cite increased stress and fear, demanding changes. Sebi dismisses claims as a response to failed salary negotiations.
- A bigger share of bank deposits comes at higher rates nowBanks in India are offering higher interest rates on deposits to attract savers, with more than two-thirds of deposits earning 7% or above by June 2024. This shift is driven by the need to meet rising credit demand, which continues to outpace deposit growth.
- Karnataka wants to create 4-5 more Bengalurus: state IT ministerIn a recent post on microblogging portal X, Kharge said Karnataka is the fourth largest technology cluster in the world and the leader in the country in many verticals. The southern state has over one-third of India’s tech talent and close to 25,000 startups, 52 unicorns (startups with valuation of $1 billion or more) and 47 soon to be unicorns.
- Kenya airport: Adani sharpens India's challenge to China's global cloutChina and India are competing for influence in smaller countries. While China pledges $51 billion for Africa, India's Adani Group faces protests over its plans to manage Nairobi's airport. Adani aims to invest in global infrastructure, challenging China's dominance and enhancing India's strategic footholds worldwide.
- Reliance Industries bonus share issue approved in 1:1 ratioReliance Bonus Shares: Mukesh Ambani-led RIL has announced a significant corporate move: the board has approved the issuance of bonus shares at a 1:1 ratio, as disclosed during the company's AGM. The record date for this bonus issue will be provided at a later date. The bonus shares will be distributed from the securities premium account, general reserve, or retained earnings as of March 31, 2024.
- Sebi chief Madhabi Puri Buch in trouble. 4 major allegations against 'Unilever wife'Sebi Chairperson Madhabi Puri Buch faces mounting allegations from various quarters, including Hindenburg Research, Congress, Zee's Subhash Chandra, and internal employee protests. The accusations range from conflicts of interest to fostering a toxic work environment. All parties involved have issued denials or clarifications regarding the claims.
- SC reserves order in Arvind Kejriwal's bail plea; Delhi CM claims CBI made 'insurance arrest' after bail in ED caseThe Supreme Court has reserved its decision on Delhi CM Arvind Kejriwal's bail plea in a money laundering case linked to the now-scrapped Delhi excise policy. Kejriwal argues his arrest by the CBI was strategic, while the CBI claims it was necessary due to potential witness influence.
- NRI homebuyer to get Rs 1.26 crore as refund and compensation from Godrej Properties against cancellation of flat bookingMahaRERA: A non-resident Indian (NRI) paid Rs 97 lakh to book a Godrej flat, however when Godrej cancelled the flat booking, entire money (Rs 97 lakh) was allegedly forfeited by Godrej. After a 6 year fight MahaRERA appelate tribunal ordered Godrej to pay Rs 97 lakh plus State Bank of India (SBI) highest MCLR interest rate plus 2% to the NRI. By calculation this comes to Rs 1. 26 crore.
- India is likely to benefit if Trump wins US elections: Nomura Global ResearchA Nomura global market research report suggests that a Donald Trump victory in the US Presidential election could benefit India. The report highlights India's domestic demand-driven growth model, lower commodity prices, and supply chain shifts as key factors. Despite potential trade and immigration frictions, India's large forex reserves and fiscal discipline can handle volatility, ensuring robust economic and strategic ties with the US.
- Congress demands independent probe into allegations against SEBI chiefThe Congress has called for an independent inquiry into allegations against SEBI Chairperson Madhabi Buch, citing concerns from foreign investors and doubts about the integrity of India's stock markets. They demand Buch step aside during the probe to restore trust. Allegations include conflict of interest and a toxic work environment under her leadership.
- Why are titans like Ambani and Adani doubling down on this fast-moving market?India's corporate giants like Reliance, Adani, and Tata are investing heavily in the FMCG sector to compete with established leaders. With India's economy growing rapidly, these companies aim to capitalize on rising disposable incomes and consumption trends. This expansion highlights the lucrative opportunities in India's evolving consumer market.
- Will SEBI get savvy, or shut its gate?Madhabi Puri Buch, the first private sector head of Sebi, faces scrutiny over alleged conflicts of interest. The article discusses the need for stricter regulations to address potential conflicts and suggests that appointing bureaucrats without regulatory changes could be short-sighted. The debate continues on whether private sector leaders should helm Sebi.
- Lawlessness prevails in Bangladesh as radicals force several authorities to resignLawlessness in Bangladesh is escalating as Jamaat-e-Islami and radicals dominate, leading to the forced resignation of officials and violence against minorities. Parliament has been dissolved, judges removed, and secretaries arbitrarily appointed. Financial chaos ensues with changes in bank boards, while unrest closes garment factories and releases convicted terrorists.
- PM Modi should apologise to every Maharashtrian, say sorry for note-ban, anti-farmer laws too: Rahul GandhiRahul Gandhi has called on Prime Minister Narendra Modi to apologize for multiple issues, including the collapse of Chhatrapati Shivaji Maharaj's statue, demonetisation, anti-farmer bills, and GST. Speaking at a public meeting in Sangli, Gandhi criticized Modi for allegedly favoring certain business groups and demanded accountability for various policies.
- India wants to create 'several Singapores' of its own, says PM Modi; hails nation as global inspirationPrime Minister Narendra Modi, during his visit to Singapore, praised the city-state as a model for developing nations and expressed India's aim to create 'several Singapores.' He highlighted the growing bilateral cooperation in various sectors and emphasized the strategic partnership between India and Singapore, noting significant trade and investment growth over the past decade.
- BJP trying to manipulate polls via Independents: Omar AbdullahOmar Abdullah, NC vice-president, filed his nomination from Ganderbal constituency and accused BJP of using independent candidates to manipulate the assembly elections. He urged voters to reject BJP's tactics and promised to serve the people of Ganderbal. Abdullah faces his former party colleague Ishfaq Jabbar, who recently floated his own political party.
- Putin says Russia ready for talks with Ukraine, but there's a conditionRussian President Vladimir Putin expressed readiness for talks with Ukraine, based on a previously aborted deal from 2022. This comes after Kyiv's offensive into Russia's Kursk region in August. Putin emphasized negotiations should be grounded on the Istanbul agreement, claiming external influences prevented its implementation.
- Anant Ambani’s Vantara Foundation reaches out to Namibia to prevent wildlife loss amid droughtThe Vantara Foundation, led by Anant Ambani, has offered aid to Namibia amidst a severe drought threatening wildlife. Known for its animal welfare efforts, Vantara proposes providing lifelong care or temporary refuge to prevent culling. This initiative aims to collaborate with Namibian authorities to explore humane alternatives and protect endangered species.
- Reliance plans Rs 3.9k-cr infusion into FMCG unit to step up playReliance is set to inject up to ₹3,900 crore into its FMCG division, Reliance Consumer Products Ltd (RCPL), through a combination of equity and debt. This significant capital infusion aims to enhance its competitive stance against major players like Hindustan Unilever, ITC, and Coca-Cola.
- Mounting worries for Madhabi Buch: Sebi officials flag ‘toxic’ work culture to governmentSebi officials have complained to the finance ministry about a toxic work culture under chairperson Madhabi Puri Buch. The letter accuses the leadership of using harsh language, setting unrealistic targets, and monitoring employees excessively. Sebi claims issues have been addressed, but concerns about mental health and work-life balance persist.
- Sebi chief Madhabi Puri Buch in trouble. 4 major allegations against 'Unilever wife'Sebi Chairperson Madhabi Puri Buch faces mounting allegations from various quarters, including Hindenburg Research, Congress, Zee's Subhash Chandra, and internal employee protests. The accusations range from conflicts of interest to fostering a toxic work environment. All parties involved have issued denials or clarifications regarding the claims.
- Sebi employees protest outside HQ, seek boss Madhabi Puri Buch's resignationMadhabi Puri Buch's resignation demanded: Disgruntled Sebi employees staged a silent protest outside the Mumbai headquarters, demanding the withdrawal of a statement blaming 'external forces' for their grievances and seeking the resignation of their boss. The protest follows an unprecedented complaint to the finance ministry about a toxic work culture under Sebi's leadership.
- Why Sebi officers with Rs 34 lakh starting salary are protesting against Madhabi Buch: Explained in 5 points Sebi officers have protested against chairperson Madhabi Puri Buch, alleging a toxic work culture marked by excessive monitoring, unrealistic targets, and poor treatment. Despite high salaries, employees cite increased stress and fear, demanding changes. Sebi dismisses claims as a response to failed salary negotiations.
- US election 2024: Kamala Harris has her hand on India's raw nerveUS election 2024: Kamala Harris has rarely spoken of her Indian roots though she has spoken about her Indian mother often. In her speech in which she formally accepted the Democratic Party’s nomination for the presidency, she spoke about her mother, Shyamala Gopalan, but not about India, the country she visited as a child. Chennai was the hometown of Harris's mother. The year 2009 was the last time she visited Chennai carrying her mother's ashes to scatter them in the Indian Ocean waters.
- HRA, toxic culture concerns of staff misguided by external elements: SebiResponding to reports on the housing rent allowance (HRA) and toxic work culture issues raised by the staff, market regulator said these concerns are misguided by external elements and perhaps misplaced.
- India losing to smaller rivals in manufacturing, World Bank saysIndia's global trade share has not kept pace with its growing economy, losing out to Bangladesh and Vietnam as low-cost manufacturing hubs.
- A bigger share of bank deposits comes at higher rates nowBanks in India are offering higher interest rates on deposits to attract savers, with more than two-thirds of deposits earning 7% or above by June 2024. This shift is driven by the need to meet rising credit demand, which continues to outpace deposit growth.
- Madhabi Puri Buch case: Congress latches on to new row over alleged "toxic" work culture at Sebi, calls it shockingCongress has taken note of allegations of a toxic work culture under Sebi chief Madhabi Puri Buch. A significant number of Sebi employees have accused the leadership of fostering an environment of fear and public humiliation. A complaint was sent to the Finance Ministry, calling for accountability and reform within the organisation.
- Karnataka wants to create 4-5 more Bengalurus: state IT ministerIn a recent post on microblogging portal X, Kharge said Karnataka is the fourth largest technology cluster in the world and the leader in the country in many verticals. The southern state has over one-third of India’s tech talent and close to 25,000 startups, 52 unicorns (startups with valuation of $1 billion or more) and 47 soon to be unicorns.
- Kenya airport: Adani sharpens India's challenge to China's global cloutChina and India are competing for influence in smaller countries. While China pledges $51 billion for Africa, India's Adani Group faces protests over its plans to manage Nairobi's airport. Adani aims to invest in global infrastructure, challenging China's dominance and enhancing India's strategic footholds worldwide.
- Reliance Industries bonus share issue approved in 1:1 ratioReliance Bonus Shares: Mukesh Ambani-led RIL has announced a significant corporate move: the board has approved the issuance of bonus shares at a 1:1 ratio, as disclosed during the company's AGM. The record date for this bonus issue will be provided at a later date. The bonus shares will be distributed from the securities premium account, general reserve, or retained earnings as of March 31, 2024.
- SC reserves order in Arvind Kejriwal's bail plea; Delhi CM claims CBI made 'insurance arrest' after bail in ED caseThe Supreme Court has reserved its decision on Delhi CM Arvind Kejriwal's bail plea in a money laundering case linked to the now-scrapped Delhi excise policy. Kejriwal argues his arrest by the CBI was strategic, while the CBI claims it was necessary due to potential witness influence.
- Civil aviation Minister KR Naidu indicates India's plans to manufacture indigenous planesThe government plans to establish a special purpose vehicle to advance aircraft manufacturing in India, according to Union Civil Aviation Minister K Rammohan Naidu. Speaking at a conference, Naidu highlighted efforts to initiate aircraft manufacturing within the next five years. India is among the fastest growing civil aviation markets globally.
- Rahul Gandhi bats for J&K statehood; slams Centre for snatching identity, rightsWhile addressing an election rally in Ramban ahead of the Jammu and Kashmir Assembly Election, the Congress leader said, "For the first time in the history of India, statehood has been snatched away. Union Territory was first made a state... A state has been abolished and the rights of the people have been snatched away. First of all, the statehood of Jammu and Kashmir has to be returned because not only your state has been snatched away, your rights, your wealth, everything is being snatched away from you."
- NRI homebuyer to get Rs 1.26 crore as refund and compensation from Godrej Properties against cancellation of flat bookingMahaRERA: A non-resident Indian (NRI) paid Rs 97 lakh to book a Godrej flat, however when Godrej cancelled the flat booking, entire money (Rs 97 lakh) was allegedly forfeited by Godrej. After a 6 year fight MahaRERA appelate tribunal ordered Godrej to pay Rs 97 lakh plus State Bank of India (SBI) highest MCLR interest rate plus 2% to the NRI. By calculation this comes to Rs 1. 26 crore.
- Congress demands independent probe into allegations against SEBI chiefThe Congress has called for an independent inquiry into allegations against SEBI Chairperson Madhabi Buch, citing concerns from foreign investors and doubts about the integrity of India's stock markets. They demand Buch step aside during the probe to restore trust. Allegations include conflict of interest and a toxic work environment under her leadership.
- Maruti, Toyota may have a reason to worry: 48% GST on hybrid cars, 5% on EVs to continueThe Indian government will maintain a significant tax difference between electric vehicles and hybrids to promote zero-emission technologies. G20 Sherpa Amitabh Kant confirmed the policy at a Mercedes-Benz event, emphasizing the push for electrification. This decision impacts auto companies like Maruti Suzuki, Toyota, and Honda, who have been lobbying for lower GST rates on hybrids.
- View: India needs more lending — but not to everyoneIndia's Reserve Bank plans to introduce a 'unified lending interface' to expand digital payments into lending. This system aims to help farmers and small businesses access credit more easily. However, there are concerns about the potential impact on household debt, which is already rising.
- Kim Jong Un executes officials after deadly floods, media saysNorth Korea executed several government officials after severe flooding in late July caused significant casualties and damage in the northern region. The floods destroyed homes, infrastructure, and farmland, leading to thousands of deaths. Kim Jong Un vowed strict punishment for those who neglected their duties during the disaster.
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