Business Standard - September 16, 2024
Business Standard - September 16, 2024
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In this issue
September 16, 2024
Banks may face bigger fines for non-compliance
Current penalties may not act as effective deterrent: Experts
2 mins
'Shipbuilders from Japan, Korea keen to invest here'
In what could be a boost for India's nascent shipbuilding industry, companies from Japan and South Korea have expressed interest in investing in the sector, Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal has said.
2 mins
Cost of convenience: Restaurants list higher prices in online menus
The convenience of ordering food online comes at a cost; or, to be more accurate, an 'additional cost'.
3 mins
New-look Chennai town to welcome Ford on its India comeback trail
Henry Ford Road in Maraimalai Nagar, located about 50 kilometres from Chennai, has remained quiet for the past two years since the Ford India plant ceased operations in 2022.
3 mins
'Claims of ICE vehicle demise self-serving'
During the past few months, Bajaj Auto has seen a huge increase in its electric scooter sales, thanks to the massive distribution expansion and launch of models below ₹1 lakh for the first time. Based on Vahan registrations, Bajaj Auto's electric two-wheeler market share stood at 19.3 per cent till August 30. RAKESH SHARMA, executive director, Bajaj Auto in an email interview with Surajeet Das Gupta, talks about company's mega electric vehicle (EV) play. Edited excerpts:
3 mins
'Service outlets not stressed; utilisation full in big cities'
As several major carmakers struggle with a slowdown in India, Mahindra and Mahindra (M&M) has defied the trend with 20.4 per cent year-on-year (Y-o-Y) jump in domestic sales, reaching 209,148 units in the April-August period. NALINIKANTH GOLLAGUNTA, chief executive officer of M&M Automotive Division, spoke with Deepak Patel in an interview in Delhi. Edited excerpts:
4 mins
Govt to pay MTNL's bond interest again: DoT officials
The government will again step in and pay for state-run telecom operator Mahanagar Telephone Nigam Limited's (MTNL) upcoming interest payment on bonds issued by it, officials from the Department of Telecommunications (DOT) have said.
1 min
Adani firms to sign 6.6 Gw power supply pact with Maha discom
Adani group entities Adani Green Energy (AGEL) and Adani Power (APL) on Sunday announced they would sign a longterm power purchase agreement (PPA) with Maharashtra's largest electricity distribution utility to supply the state with a 6.6 gigawatt (Gw) of combined solar and thermal power.
1 min
Regulatory, supply chain issues weigh on medtech sector
Despite India's $10 billion medtech market and the country's potential to become a global manufacturing hub, scaling businesses in the sector remains challenging.
1 min
MHI all set to auction final 10 GWh of ACC PLI scheme
The Centre has kick-started the auction process for the final 10 gigawatt-hour (GWh) of the Advanced Chemistry Cell (ACC) Production-Linked Incentive (PLI) scheme designated for grid-scale battery storage.
2 mins
US lenders counter Byju's claim on debt
Want repayment of full $1.2 bn loan
1 min
Swiggy may file IPO papers this week, to raise ₹8.3K cr
Flood-delivery platform Swiggy is considering filing publicly for its domestic initial public offering (IPO) as soon as this week, people familiar with the matter said, adding to a strong pipeline of share sales in the country.
1 min
Kudos to CBIC for dropping troublesome CGST Rules
In a welcome move, the Goods and Services Tax (GST) Council has decided to omit Rule 96(10), Rule 89(4A) and Rule 89(4B) from the Central GST (CGST) Rules, 2017, with prospective effect.
2 mins
RBI seeks details of select NBFCs' loan book growth
Outstanding product-wise portfolio, annualised interest on them on radar
2 mins
Jan-Dhan a new option for PSBs to mobilise deposits
State-owned banks are increasingly targeting JanDhan accounts to mobilise deposits as they face growing pressure to mop deposits to manage credit growth amid an increasing shift of household savings towards higher-yielding financial instruments.
2 mins
Liquidity may turn deficit this week due to advance tax, GST payments
After remaining in surplus for over two months, banking system liquidity is expected to shift into deficit mode this week due to advance tax payments and goods and services tax (GST) outflows, said market participants.
1 min
Record ₹82K cr GST evasion detected in online gaming
The Directorate General of GST Intelligence (DGGI), the central investigation and anti-evasion arm under the finance ministry, has detected the highest-ever goods and services tax (GST) evasion by the online money gaming industry, amounting to ₹81,875 crore in FY24 across 78 cases.
2 mins
GST Council forms GoM to review tax on health, life insurance
The Goods and Service Tax (GST) Council on Sunday constituted a 13member Group of Ministers (GoM) to suggest GST rate on premiums of various health and life insurance products and submit its report by October 30.
1 min
What's the writing on the wall?
After resignation as Delhi CM, Arvind Kejriwal's party colleagues say he will campaign to reclaim his image as an anti-corruption crusader, and give his successor time to roll out welfare schemes. ARCHIS MOHAN decodes
4 mins
Clerics make an electoral foray
Mosque sermons in Kashmir, for decades, have maintained a calculated distance from political topics. But that might be changing now, writes KALEEM GEELANI
3 mins
A system on life support
Bengal's health care breakdown is a symptom of deeper political illness. It reveals more than dysfunction; it unveils a clash of ideologies. ISHITA AYAN DUTT on Bengal's pulse
4 mins
World girds up for Fed's 1st rate cut since '20
Discussions on Sep 17-18 will likely centre around whether to reduce rates by 25 or 50 basis points
2 mins
Russia claims to destroy 29 drones, Kyiv shoots down 10
Russia's air defence units destroyed 29 drones that Ukraine launched overnight targeting seven Russian regions, Russia's defence ministry said on Sunday.
1 min
Inside Musk's mushrooming security apparatus
The day before Elon Musk spoke at a celebration for Tesla's futuristic Cybertruck pickup in November, a Florida man, Paul Overeem, was arrested near the company's Austin, Texas, factory and accused by the authorities of planning a \"mass casualty event\" there.
2 mins
Affordable health care
Infrastructure needs improvement
2 mins
Underutilised data
GST transactions are a rich mine for policymakers
2 mins
How to get FDI up 10 times
Xi Jinping came to power in China in 2013, and brought a new emphasis on arbitrary state power and nationalism.
4 mins
Sustaining the cotton revolution
A consistent downtrend in cotton yield over the past decade is a clear indication that the cotton revolution, triggered by the introduction of gene-altered and pest-protected Bt-cotton hybrids in 2002, has withered away.
3 mins
India our APAC priority and primary market focus'
With markets looking forward to a rate cut by the US Federal Reserve (Fed) this week, BHASKAR LAXMINARAYAN, chief investment officer and head investment management Asia at Julius Baer, shares with Puneet Wadhwa that a 25-basis- point (bp) cut paired with a strong dovish message could be just as effective as a 50-bp cut with minimal commentary. The impact, he observes, will largely depend on the accompanying message and how it is interpreted. Edited excerpts:
2 mins
United Spirits to distil neat double-digit growth with premium blend of tailwinds
GROWTH ON TAP: Premiumisation and strategic pricing raise the bar for alcobev maker's Prestige and Above portfolio
2 mins
Powerhouse in a small package: Delivering big returns
Launched in September 2010, the Nippon India Small Cap Fund has consistently ranked in the top 30 percentile of the smallcap fund category in the CRISIL Mutual Fund Ranking (CMFR) for four consecutive quarters through June 2024.
2 mins
Delaying buy decision may push costs higher amid rising prices
Pay 20-30% of cost as down payment; EMI should not exceed 40% of take-home salary
3 mins
Bank not liable for lack of pledged goods cover
Shree Shakti Foam had applied to Canara Bank for a cash credit facility against the hypothecation of stocks.
2 mins
There is a case for Al helping the law
The technology can assist in clearing the massive backlog in courts and in research, report ASHUTOSH MISHRA & BHAVINI MISHRA
4 mins
Firms need time to comply with data protection law'
Companies will need time to comply with the Digital Personal Data Protection Act (DPDP) whose rules are to be released, according to VINAYAK GODSE, chief executive officer of Data Security Council of India (DSCI). It's a non-profit non-profit organisation set up by NASSCOM and works in cybersecurity and privacy. \"Companies will need to overhaul processes and adjust operations\", he said in an interview with Ashutosh Mishra in New Delhi. Edited excerpts:
2 mins
UPS: SENSE & SENSIBILITY
As the govt embarks on a new pension scheme, what will be its fiscal implications?
4 mins
Ambiguity over GST food rates in spotlight
The managing director (MD) of a famous restaurant chain in Tamil Nadu supposedly apologising to Union Finance Minister Nirmala Sitharaman in Coimbatore on Wednesday has triggered a political controversy.
3 mins
Four states get six Vande Bharat trains
Prime Minister Narendra Modi on Sunday virtually flagged off six Vande Bharat trains for Jharkhand, Odisha, Bihar, and UP at Ranchi.
1 min
SOM Distilleries debuts in K'taka with Woodpecker beer
Bhopal-based SOM Distilleries and Breweries has entered the Karnataka market with \"Woodpecker\" premium beer, India's first twist cap beer.
1 min
D2C brands hitch their wagon to quick-commerce
As quick commerce gains ground, emerging direct-to-consumer (D2C) brands are betting big on digital channels to drive growth.
2 mins
Business Standard Newspaper Description:
Publisher: Business Standard Private Ltd
Category: Newspaper
Language: English
Frequency: Daily
Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.
Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.
Business Standard's editorial team is led by Shyamal Majumdar.
The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.
The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.
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