The Business Guardian - May 24, 2023
The Business Guardian - May 24, 2023
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In this issue
May 24, 2023
Farewell, Rs 2000 notes: Cash swap countdown commences
Reserve Bank of India (RBI) has announced the withdrawal of the 2,000 rupee currency notes from circulation, while stating that they will continue to remain as legal tender. This decision was made in an effort to phase out the high-value denomination, which was primarily introduced during demonetization to replenish the value of money being taken out from the system. The RBI has advised banks to cease the issuance of 2,000 rupee banknotes immediately.
2 mins
PM Modi strengthens ties with Australia's business elite
Prime Minister Narendra Modi kicked off his visit to Australia with a series of significant meetings in Sydney.
2 mins
MOODY'S: INDIA'S GDP SOARS, INVESTMENT BARRIERS LOOM
India’s rapid economic ascent and its potential for future growth have positioned it as a key player in the global economy
2 mins
India to open consulate in Brisbane: PM Modi
In a highly anticipated move, Indian Prime Minister Narendra Modi revealed on Tuesday that India will be establishing a consulate in Brisbane to cater to the longstanding demand of the Indian diaspora.
2 mins
UK economy set for positive growth in 2023
The International Monetary Fund (IMF) has projected that the UK economy will steer clear of a recession and continue experiencing positive growth throughout 2023. This optimistic outlook is largely attributed to the recovery in demand, propelled by the decline in energy prices.
1 min
RBI conference focuses on bank governance for stability
In a bid to address the crucial aspects of governance in public sector banks, the Reserve Bank of India (RBI) convened a conference for directors on the Boards of these banks. The event took place on Monday in New Delhi and was inaugurated by RBI Governor Shaktikanta Das.
1 min
Srinagar shines as G20 showcases heritage and modernity
In a notable display of India’s commitment to global responsibility, Union Minister Jitendra Singh emphasised the significance of hosting the G20 meeting in Srinagar. Singh, the Minister of State in the Prime Minister’s Office, described Srinagar as a city that seamlessly blends traditional heritage with modern infrastructure and cutting-edge technology. His remarks came during the inaugural session of the third tourism working group meeting of the G20 countries held at the Sher-e-Kashmir International Convention Centre (SKICC).
2 mins
Ravneet Kaur makes history as CCI chairperson
In a significant milestone, Ravneet Kaur took charge as the Chairperson of the Competition Commission of India (CCI) on Tuesday, becoming the first woman to hold the position on a full-time basis. This historic appointment marks a turning point in the fair trade regulator’s history.
1 min
INDIA'S 5G AND 6G POTENTIAL PROPELS DIGITAL INNOVATION: US AMBASSADOR
India, with its vast population, thriving digital economy, and technological advancements, is positioned to harness the transformative power of 5G and, in the future, 6G, propelling itself to the forefront of digital innovation, according to US Ambassador to India Eric Garcetti. Speaking at the US-India 5G and Next Generation Networks workshop organised by the US Trade and Development Agency (USTDA), Garcetti emphasised the importance of trust in 5G networks and highlighted the commitment of both India and the US to collaborate on deploying secure and reliable solutions.
2 mins
BIDEN AND MCCARTHY SEEK DEBT CEILING RESOLUTION
Following the meeting, President Biden conveyed his commitment to resolving the issue, stating, \"Biden and I will talk every day until we get this done.”
1 min
Digi Prinfinity secures investment, expands presence
Digi Prinfinity Pvt Ltd, a leading player in the personalized gifts industry, has secured a significant investment from the renowned Adidhala Group for its customized gifts franchise startup, OOTBox. The investment marks a strategic alliance between the two companies, aiming to expand OOTBox’s presence and establish it as a household name in the gift giving industry. Alongside the investment, OOTBox has already garnered attention by winning the prestigious Innovative Franchise of the Year award at the SuccessPreneur Awards 2023, solidifying its potential in the market.
1 min
Vedanta approves Rs 18.5 dividend, reports strong performance
The board of directors of Vedanta, a leading mining company, made a significant announcement on Monday as they approved the issuance of an interim dividend for the financial year 2023-24. Shareholders were delighted to learn that the first interim dividend stands at an impressive Rs 18.5 per equity share, reflecting a substantial yield of 1850 percent on the face value of Rs 1 per share. With a total payout of Rs 6,877 crore, this move underscores the company’s commitment to rewarding its investors generously.
1 min
DRONE DESTINATION FILES DRHP WITH NSE EMERGE
The company also making strides in drone recreation, gaming, and amusement segment
2 mins
BETTERPLACE LAUNCHES BETTERPLACE MONEY: EMPOWERING 10MN FRONTLINE WORKERS
BetterPlace, the largest frontline workforce management SaaS platform in Asia, has recently entered the financial services sector by introducing BetterPlace Money. This new initiative aims to address the significant lack of access to formal credit for over 80% of the labour force in India and Southeast Asia. Through BetterPlace Money, the company intends to empower more than 10 million global frontline workers with creditworthiness by 2025.
2 mins
JAMMU AND KASHMIR HIGH COURT: HALTS GURUDWARA BOARD ELECTIONS CITING VIOLATIONS OF SIKH GURDWARAS AND RELIGIOUS ENDOWMENT ACT
The Jammu and Kashmir in the case Satinder Singh Vs UT of J&K observed and has stayed the operation of the notification which pertains to the conduct of elections to the Gurdwara Parbandhak Board which was being issued by the Divisional Commissioner of Jammu and Kashmir
2 mins
AAR; NO GST ON THE DIFFERENCE BETWEEN PURCHASING, SELLING PRICE OF SECOND HAND GOLD JWELLERY
The Karnataka Authority of Advance Ruling, AAR in the case observed and has ruled that purchasing of second-hand gold which being in the form of jewellery and also the parts of jewellery from unregistered individuals and from selling it to be registered or to the unregistered dealers after meeting it in the form of lumps of gold, the same cannot be subject to GST on the margin difference which being between the sale price and purchase price as it is stipulated under Rule 32(5) of the CGST Rules, 2017.
1 min
Kerala High Court: Lawyer Moved Seeking Rs. 1 Crore Compensation For Family Of Kollan Doctor Stabbed During Checkup To Death By Man In Custody
The Kerala High Court in the case Adv. Manoj Rajagopal v. State of Kerala & Ors observed wherein seeking Rs. 1 Crore compensation for the bereaved family members of the 23 years old house surgeon who is named Dr. Vandana Das, who was brutally being killed by an injured man who was being brought to the government hospital in the police jeep, in the Kottarakkara, Kollam.
2 mins
PATNA HIGH COURT: DETAILS MUST BE MENTIONED BY COMPLAINANT, GIST OF COMPLAINT IN STATION DIARY BEFORE PROCEEDINGS FOR VERIFICATION
The Patna High Court in the case Kumar Gaurav vs. State of Bihar & Ors observed and has stated that the police, wherein before carrying out a verification exercise, must first be mentioned the name of the complainant, the details of his and the gist of the complaint in the station diary and then the court proceeds for the verification.
1 min
Patna High Court Dismissed PIL For Additional PHC On Land Identified BY Gram Sabha: Health Centre's Location Essentially Issue Of Executive Policy
The Patna High Court in the case Munilal Yadav & Ors. vs. State of Bihar & Ors observed and has stated that a decision as to where a healthcare centre should be located being essentially an issue of executive policy and the said court cannot interfere with it.
1 min
DELHI HIGH COURT: DELHI MAYOR'S DECISION SETS ASIDE FOR RE-ELECTION OF MCD STANDING COMMITTEE
The Delhi High Court in the case Kamaljeet Sehrawat v. Office Of Lieutenant Governor Of Delhi And Ors and othe connected matter observed and has set aside the decision taken by Mayor Shelly Oberoi in order to hold re-election for six members of the standing committee of the Municipal Corporation of Delhi.
1 min
Peace despite fresh violence in Manipur
Manipur remained tense but relatively calm on Tuesday following incidents of violence that occurred the previous day in the northeastern state. Since May 3, at least 70 people have lost their lives in ethnic violence.
1 min
SIDDARAMAIAH AS CM FOR 5 YEARS: MINISTER ASSERTS
Reports suggest high command proposed rotational CMs to resolve deadlock
1 min
Madarsa Board considers college exam centers
Officials have revealed that the Uttar Pradesh Board of Madarsa Education is considering a significant change by using intermediate colleges as examination centers for its students, rather than relying solely on madrassas.
1 min
Women secure top 4 ranks in civil services exam
In the civil services examination 2022, women claimed the top four ranks, as announced by the Union Public Service Commission (UPSC) on Tuesday.
2 mins
The Business Guardian Newspaper Description:
Publisher: ITV Network
Category: Newspaper
Language: English
Frequency: Daily
The Business Guardian is a monthly business magazine published in India. It was launched in 2005 and is one of the most popular business magazines in the country. The magazine is known for its in-depth coverage of the Indian economy, as well as its insights from leading experts in the field. It covers a wide range of topics related to business, including:
* Economic news and analysis: The Business Guardian covers the latest economic news and trends from India and around the world. The magazine also provides in-depth analysis of the Indian economy, as well as its impact on businesses and individuals.
* Industry news and trends: The Business Guardian also covers the latest news and trends from different industries, such as technology, finance, healthcare, and manufacturing. This coverage helps readers to stay informed about the latest developments in their respective industries.
* Corporate news and profiles: The Business Guardian also features corporate news and profiles of leading companies in India. These profiles provide readers with insights into the strategies and operations of these companies.
* Management and leadership: The Business Guardian also features articles on management and leadership. These articles help readers to develop their skills and knowledge in these areas.
The Business Guardian is a valuable resource for anyone who is interested in business in India. It is a must-read for anyone who is looking to stay informed about the latest economic and business trends in the country, or who is looking for insights from leading experts in the field.
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