Sebi said that Karvy despite not having any legal right to create a pledge on these securities and generate funds did so in securities to the tune of  ₹2000 crore. (Reuters )
Sebi said that Karvy despite not having any legal right to create a pledge on these securities and generate funds did so in securities to the tune of 2000 crore. (Reuters )

Sebi bars Karvy for 2000 crore client fraud

  • Sebi said that Karvy despite not having any legal right to create a pledge on these securities and generate funds did so in securities to the tune of 2000 crore
  • The regulator has initiated a forensic audit to establish the extent of alleged misuse of client pledges

DHFL is set to become the first non-bank lender
Uddhav Thackeray outside the BMC office in Mumbai on Friday.

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US President Donald Trump and first lady Melania Trump. (REUTERS)
US President Donald Trump and first lady Melania Trump. (REUTERS)

Hong Kong would be 'obliterated in 14 minutes' if not for me: Donald Trump

  • Trump's comments come as he mulls signing congressionally-approved legislation in support of the pro-democracy activists
  • Donald Trump cast his relationship with Xi as the bulwark keeping China from moving against the pro-democracy movement that has rocked Hong Kong

Launched last year, the scheme is critical to Prime Minister Narendra Modi's plans to reform the country's health system.
Launched last year, the scheme is critical to Prime Minister Narendra Modi's plans to reform the country's health system.

India courts private hospitals to boost 'Modicare' insurance programme

  • Currently, 60% of the approximately 20,000 hospitals registered under the programme are in the private sector
  • The 'Modicare' programme offers families health cover of up to Rs500,000 a year for serious ailments

A sign is pictured outs a Google office near the company's headquarters in Mountain View, California.  (REUTERS)
A sign is pictured outs a Google office near the company's headquarters in Mountain View, California. (REUTERS)

A billion people's data left unprotected on Google cloud server

  • The unprotected data didn’t reside on a People Data Labs’ server, but rather was on a Google Cloud server, Troia said
  • Troia says he doesn’t know who left the data on that server, saying it could be malicious hackers or People Data Labs’ own customers

Muthoot Finance will acquire IDBI Asset Management for  ₹215 crore  (Prajakta Patil/Mint)
Muthoot Finance will acquire IDBI Asset Management for 215 crore (Prajakta Patil/Mint)

Muthoot Finance to buy IDBI AMC, foray into mutual fund space

  • The deal is expected to be completed by February-end 2020
  • Currently, the country's mutual fund industry has 44 players managing assets to the tune of more than 26 lakh crore

Adverse regulatory orders and intense competition have put the telecom sector under severe stress.pradeep gaur/mint
Adverse regulatory orders and intense competition have put the telecom sector under severe stress.pradeep gaur/mint

Airtel, Vodafone-Idea move SC, seek review of order to pay 92,000 crore to DoT

  • A three-judge bench headed by Justice Arun Mishra will decide if the review plea will be allowed
  • The matter pertained to the DoT’s claim that telecom companies had underreported their revenues, paying less levies to the government

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The changes will be effective from Monday, December 23, 2019, Asia Index said (PTI)
FFC chairman N.K. Singh also sought the simplification of the goods and services tax, which could yield more revenue receipts.  (Photo: HT)
FFC chairman N.K. Singh also sought the simplification of the goods and services tax, which could yield more revenue receipts. (Photo: HT)

15th Finance Commission seeks say in GST Council amid Centre-states row

  • Tax cuts, exemptions decided by Council affect FFC’s goal of optimizing revenue targets, says NK Singh
  • Singh’s comments hint that the FFC’s suggestions could be more tight-fisted than states expect.

Ridham Desai, managing director, Morgan Stanley India
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Simon Taufel, former cricket umpire and author of ‘Finding The Gaps’. (Aniruddha Chowdhury/Mint)
Plain Facts
Photo: PTI

How livable is your city?

1 min read . 19 Nov 2019
Retired Chief Justice of India Ranjan Gogoi (right) interacts with his successor Sharad Arvind Bobde. Since the inception of SC, the average CJI’s tenure has been 18 months; but in recent years, this figure has fallen. (Photo: ANI)

What the numbers say about CJIs

3 min read . 19 Nov 2019
Long Reads
A manufacturing facility of Uttam Galva Steels Ltd, the Indian unit of ArcelorMittal, in Khopoli, Maharashtra (Photo: Bloomberg)

The pressing need to recode the IBC

9 min read . 22 Nov 2019
As farmers lost interest, the area under the flagship crop insurance scheme fell 17% in the two years to kharif 2018. (Photo: Hindustan Times)

Crop insurance flaws fuel farm distress

10 min read . 19 Nov 2019
It is important to have a strong technical secretariat comprising administrators, economists, accountants and lawyers to advise the GST Council.

What the new GST should look like

9 min read . 19 Nov 2019
INDICES
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The Star Rating label change for compressor-based products like room air conditioners (RAC) and refrigerators by the Bureau of Energy Efficiency (BEE) would be effective from January 2020.  (AP)
The Star Rating label change for compressor-based products like room air conditioners (RAC) and refrigerators by the Bureau of Energy Efficiency (BEE) would be effective from January 2020. (AP)

New energy label norms: Five-star refrigerators to cost 6,000 more

  • The Star Rating label change for compressor-based products like room air conditioners and refrigerators
  • The labelling guidelines will mandate the manufacturers to shift to vacuum panels from the traditional foams for cooling for the five-star range of refrigerators

A still from Aamis
Other purposes for allowing such a move are for export or import invoicing and business related transactions outside International Financial Service Centre. (Mint )
Other purposes for allowing such a move are for export or import invoicing and business related transactions outside International Financial Service Centre. (Mint )

RBI enhances scope of non-resident rupee accounts

  • Further, the RBI, in consultation with the government, decided to rationalise certain other provisions for SNRR Account
  • Other purposes for allowing such a move are for export or import invoicing and business related transactions outside International Financial Service Centre, all in INR

The ED had attached Bhushan Power and Steel assets worth  ₹4,025 crore.  (Photo: Bloomberg)
The ED had attached Bhushan Power and Steel assets worth 4,025 crore. (Photo: Bloomberg)

Former BPSL chief Sanjay Singal arrested by ED

  • The ED has recently attached assets worth 4,025 crore of Bhushan Power and Steel Ltd (BPSL)
  • Sanjay Singal will be produced before a court here on Saturday to seek further custody, the official said

Reserve Bank of India (Photo: PTI)
Reserve Bank of India (Photo: PTI)

RBI mulling new rules on corp governance; wants banks to disclose more

  • Deputy Governor N S Vishwanathan urged banks to recognise losses because of NPAs as early as possible and not to defer the same
  • The comments come at a time when the system continues to go through the issues of asset quality, even though the new additions have slowed down

From last month DGCA has made the alcohol testing mandatory for all airside workers as well (Hindustan Times)
From last month DGCA has made the alcohol testing mandatory for all airside workers as well (Hindustan Times)

DGCA conducts surprise breath analyser test on airside staff at Mumbai airport

  • Under the regulations, any person if found positive in the BA test would be suspended for three months
  • During similar exercises across airports last month, 18 people, including staff from airlines, were tested positive for an alcohol test

Mark to Market
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The apex court’s judgement for the demolition of flats housing 350 families had triggered massive protests and snowballed into a major political issue in the state.  (HT)
The apex court’s judgement for the demolition of flats housing 350 families had triggered massive protests and snowballed into a major political issue in the state. (HT)

Supreme Court orders Maradu demolition to continue but will hear review plea

  • The apex court asks state government to abide by its order to demolish the apartments within 138 days
  • The apex court had ruled that the Maradu apartments were built in violation of CRZ norms

CasaOne operates out of Chicago, New York, Los Angeles, Seattle, the San Francisco Bay Area and Washington, D.C  (Hemant Mishra/Mint)
CasaOne operates out of Chicago, New York, Los Angeles, Seattle, the San Francisco Bay Area and Washington, D.C (Hemant Mishra/Mint)

CasaOne raises $16 million in funding round led by Accel

  • CasaOne operates out of Chicago, New York, Los Angeles, Seattle, the San Francisco Bay Area and Washington, D.C
  • The San Francisco-based company will use the fresh capital to expand its footprint, hire technology and engineering talent, besides adding new product categories to its portfolio

DHFL was scheduled to announce its financial result on 25 November (Pradeep Gaur/Mint)
India play their first ever day-night Test against Bangladesh in Kolkata.
The development is significant as it could pave way for government formation in the state after facing a political deadlock for nearly a month now. (ANI )
The development is significant as it could pave way for government formation in the state after facing a political deadlock for nearly a month now. (ANI )

Uddhav Thackeray to lead Maharashtra government: Sharad Pawar

  • In the assembly polls, the BJP won 105 seats and Shiv Sena 56, while the Congress-NCP combine won 98 seats
  • The development is significant as it could pave way for government formation in the state after facing a political deadlock for nearly a month now

The directions would be in place pending forensic audit. (Aniruddha Chowdhury/Mint)
The directions would be in place pending forensic audit. (Aniruddha Chowdhury/Mint)

Sebi bars Karvy Stock Broking from taking new clients

  • The directions would be in place pending forensic audit
  • The findings recorded in the order are based on the prima facie examination of facts and prima facie violation of securities law

RBI requires banks to provision fully for their entire exposure over four quarters if they decide a loan account involves fraud
RBI requires banks to provision fully for their entire exposure over four quarters if they decide a loan account involves fraud

Banks face possible $5 billion NBFC writeoff

  • DHFL has been struggling to repay its loans as the spreading NBFC crisis has shut off new credit to the sector
  • The company’s shares are down more than 90% so far this year

Among the top 15 fund houses in terms of fixed income assets, 78.9% of Franklin Templeton’s fixed income assets lie in securities rated AA & lower; the most in such companies.
Among the top 15 fund houses in terms of fixed income assets, 78.9% of Franklin Templeton’s fixed income assets lie in securities rated AA & lower; the most in such companies.

Franklin Templeton Mutual Fund enables side pocketing in its debt schemes

  • Franklin Templeton Asset Management has amended its schemes to enable side pocketing
  • Unit holders will be allowed to exit the Franklin schemes in question without paying exit load from November 25th to December 24th, 2019

India’s more than 15-month-old credit crisis has dragged economic growth down to its slowest in six years
India’s more than 15-month-old credit crisis has dragged economic growth down to its slowest in six years

Aadhar Housing Finance dumps small-builder portfolio

  • The RBI this week seized major non-bank lender DHFL, which held a controlling share in Aadhar until selling it to Blackstone in June

A file photo of Union Railway Minister Piyush Goyal. (PTI)
The overall forex reserves increased to $448.24 billion from $447.80 billion reported for the week ended November 8 (Mint)
The overall forex reserves increased to $448.24 billion from $447.80 billion reported for the week ended November 8 (Mint)

India's forex reserves rise to over $448 bn

  • RBI's weekly data showed that the value of the country's gold reserves went down by $200 million to $26.70 bn

India needs to find the perfect balance between burning fossil fuels for growth and lowering greenhouse gas emissions. Getty Images
India needs to find the perfect balance between burning fossil fuels for growth and lowering greenhouse gas emissions. Getty Images

Decoding India’s climate future

A new edited volume takes a comprehensive look at India’s attempts to balance climate change mitigation with development goals

Visa applicants to Oman must have a return ticket and confirmed hotel reservation in order to be granted the non-sponsored tourist visa. Photo: iStock (iStock)
Visa applicants to Oman must have a return ticket and confirmed hotel reservation in order to be granted the non-sponsored tourist visa. Photo: iStock (iStock)

H1-B visa policy changes need US Congress approval

  • H1-B is the most sought-after visa that Indian IT companies use to deploy their Indian staff on overseas projects
  • H1-B visa costs account for a significant chunk of IT companies’ expenses

To implement the Automatic Exchange of Information (AEOI) standard, necessary domestic legal framework was put in place in 2015
To implement the Automatic Exchange of Information (AEOI) standard, necessary domestic legal framework was put in place in 2015

Tax dept launches web portal for exchange of information

  • CBDT Chairman P C Mody inaugurates the web portal on Income Tax website
  • The web portal will be a repository of policy and technical circulars, guidance and notifications issued by the CBDT, and provide links to relevant circulars and guidance

WhatsApp was in the crosshair with the Indian government in October for the spyware attack that was first reported in May. (Bloomberg)
WhatsApp was in the crosshair with the Indian government in October for the spyware attack that was first reported in May. (Bloomberg)

How government plans to regulate social media without spying on users

  • The recent privacy concerns involving WhatsApp has strengthened call for making social media companies more accountable
  • The traceability clause has emerged as a major bone of contention between the government and privacy advocates worldover

Representative image. Photo: Hemant Mishra/Mint
The Dadra and Nagar Haveli and Daman and Diu (Merger of Union Territories) Bill 2019 is part of the proposed government business for the next week, Meghwal said. (HT)
The Dadra and Nagar Haveli and Daman and Diu (Merger of Union Territories) Bill 2019 is part of the proposed government business for the next week, Meghwal said. (HT)

Govt plans to merge 2 Union Territories-Daman and Diu, Dadra and Nagar Haveli

  • Dadra and Nagar Haveli has just one district while Daman and Diu has two
  • The merged UT is likely to be named as Dadra, Nagar Haveli, Daman and Diu and its headquarters could be Daman and Diu

Home ministry through an ordinance on Wednesday allowed law enforcement agencies to search premises for e-cigarettes and vaping devices without a warrant. (Sonu Mehta/HT)
Home ministry through an ordinance on Wednesday allowed law enforcement agencies to search premises for e-cigarettes and vaping devices without a warrant. (Sonu Mehta/HT)

Bill to ban e-Cigarettes introduced in Lok Sabha

  • E-cigarettes are battery-operated devices that produce aerosol by heating a solution containing nicotine
  • Vaping organisations, harm reduction advocates and some medical professionals are opposing the Bill and calling for regulation instead of complete ban

A manufacturing facility of Uttam Galva Steels Ltd, the Indian unit of ArcelorMittal, in Khopoli, Maharashtra (Photo: Bloomberg)
A manufacturing facility of Uttam Galva Steels Ltd, the Indian unit of ArcelorMittal, in Khopoli, Maharashtra (Photo: Bloomberg)

The pressing need to recode the IBC

  • Despite repeated changes, IBC has failed to live up to expectations. What should IBC 2.0 look like?
  • The govt is taking steps to improve the efficacy of IBC by increasing the number of NCLT benches and insolvency professionals, and running awareness campaigns

Sundaram AMC has built up some experience in international investing. (iStock)
Sundaram AMC has built up some experience in international investing. (iStock)

Should you choose a mutual fund that invests in your favourite foreign brands?

  • Sundaram Global Brand Fund is country-agnostic and does not force you to pick a market like the US, Europe or China
  • Among the various international funds investing out of India, the best performer is also a passive fund the Motilal Oswal Nasdaq ETF which delivered 22.05% over the past 5 years

WhatsApp has recently submitted a new update through the Google Play Beta Program, bringing the version up to 2.19.345 (Bloomberg)
Twitter is offering more control to its users over the conversations they start. (AP)
Leaders from the AAP said that the water quality report was fabricated to benefit RO companies
The real estate industry has been grappling with stalled projects and a high level of inventory
The real estate industry has been grappling with stalled projects and a high level of inventory

Property market set for modest lift from government measures: Analysts

  • House prices in Bengaluru and Chennai were expected to rise around 2% over the next two years
  • Property prices in Delhi, the National Capital Region (NCR), and Mumbai were forecast to be stagnant in 2020

The quinquennial survey showed a decline in average real consumption spending.  (Photo: Ramesh Pathania/Mint)
Photo: Mint (Mint)