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If you are a loan borrower, the RBI’s latest revelations on banks’ loan activities might concern you! The apex bank has observed that banks have not been fair and transparent when it comes to handling of loan disbursement and repayment.

New Know-Your-Customer (KYC) regulations effective from 1 April have sent many investors into a tizzy, as they find their accounts locked for failing to meet yet another demand by authorities for verifiable data to establish their identities. Yes, we had a fresh round of KYC compliance. Under revised rules, holders of securities regulated by the Securities and Exchange Board of India (Sebi) had to validate their email IDs in addition to phone and Aadhaar numbers, the latter duly linked with PAN cards issued for taxation.

Missouri voters have gotten a step closer to getting to decide whether to raise the state’s minimum wage to $15 an hour

MUMBAI : KVS Manian’s abrupt exit from Kotak Mahindra Bank Ltd a week after the central bank’s knuckle-rap and barely two months after he was elevated as joint managing director may have derailed the lender’s carefully scripted restructuring. Kotak Mahindra Bank informed the stock exchanges late Tuesday that it had accepted Manian’s resignation with immediate effect, stating that he had “stepped down to pursue other opportunities in the financial services sector". It appears, however, that Manian, 62, who has spent nearly three decades at the bank and had been in consideration for the top role, may not have anticipated having to leave immediately.

Dune: Part Two, starring Zendaya and Timothy Chalamet, alongside Godzilla x Kong: The New Empire and A24's Civil War, both of which have become insane hits owing to their superior storyline, star-studded cast and exhilarating action sequences., according to Collider. Although the summer releases in comparison to the above films may look a bit dull, but they still have the potential to make a significant impact at the box office during the summers when the US residents will be flocking to theatres to watch these movies or binging it on popular OTT platforms available in the US, says a Collider report.

Amit Shah on Wednesday said that the BJP cannot remain with those who commit atrocities against women, referring to the sexual abuse allegations against JDS Lok Sabha poll candidate Prajwal Revanna. He also blamed the Congress government in Karnataka for not acting against the Hassan MP till the Lok Sabha polls in the Vokkaliga belt were over. Prajwal is the grandson of former Prime Minister and JD(S) patriarch H D Deve Gowda and son of former minister H D Revanna. He is seeking a re-election from Hassan on the JD(S) ticket. Just before the elections, a huge cache of explicit videos and photographs, allegedly involving him have gone viral in the social media, following which the Karnataka government constituted the SIT on the request of Karnataka State Commission for Women chairperson Nagalakshmi Chowdhary.

Prajwal Revanna's sex videos: Karnataka Chief Minister Siddaramaiah on Wednesday wrote to Prime Minister Narendra Modi seeking his intervention to get Hassan MP Prajwal Revanna's (JDS) diplomatic passport cancelled and his swift return to India to face the police investigation into the charges of sexual exploitation of women. Within hours, Revanna Jr posted a message on social media saying he has sought time to appear before the SIT, CID as he is not in Bengaluru. Truth will come out soon, he said. His advocate has requested the SIT to give the MP seven days of time to appear before it. He is the grandson of former PM HD Deve Gowda and fought the April 26 Lok Sabha polls as NDA candidate from Hassan.

GTRI) Wednesday said that nearly $700 million worth of India’s spice exports to critical markets are at stake due to cascading regulatory actions in many countries, as concerns are being raised about the quality of Indian spices. It cautioned that if the EU follows suit with a rejection across the bloc, it could impact an additional $2.5 billion of India’s spice exports. The US, Hong Kong, Singapore, Australia, and Malé have raised questions on the quality of spices supplied by leading Indian firms MDH and Everest. India exported spices worth $692.5 million to these countries in FY24. “This issue demands urgent attention and action to uphold the storied reputation of India’s fabled spice garden,” it said, adding that so far the response from Indian authorities has been tepid and formulaic.

YSRCP chief and Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Wednesday claimed that TDP supremo N Chandrababu Naidu is wishing for harm to befall him, but asserted that the people will save him. The chief minister made the allegation at Bobbili in Vizianagaram district during a public meeting as part of the last day of his four-day whirlwind election campaign tour across the state. «I will not forget Chandrababu's remarks in the assembly that my father (Y S Rajasekhar Reddy) would vanish in thin air. Unable to face me, he (Naidu) is making these kind of untoward statements. Back then against my father and now against me,» said Reddy, addressing a public meeting. The YSRCP chief claimed that the alleged statements by Naidu are a demonstration of his «criminal nature». «Chandrababu is saying 'what is wrong if Jagan is killed'. Jagan will not die by Chandrababu's wishes, people will protect Jagan,» he asserted.

Karnataka government is under scrutiny for its delayed response to the sex video case involving JD(S) MP Prajwal Revanna, sparking a contentious debate between the Congress and BJP, with questions arising about political motivations. Congress's decision to postpone action until after the initial phase of voting in the state on April 26 is seen as a strategic move. Sources suggest the party aimed to avoid alienating Vokkaliga voters, predominant in phase 1, due to tensions with the Kurubas, represented by CM Siddaramaiah. The Gowda family, including Prajwal, holds significant influence among the Vokkaliga community, a TOI report stated. Following elections in southern Karnataka, where three members of the Gowda family contested, Siddaramaiah's government established a Special Investigation Team (SIT). Prajwal, the grandson of former PM HD Deve Gowda, is seeking re-election from Hassan as an NDA candidate, while his father, HD Revanna, serves as a JD(S) MLA for Holenarsipur. Both were named in an FIR filed recently, alleging sexual harassment by a former domestic help and her daughter.

India needs to address the quality issue with regard to its spice exports with urgency and transparency as the ongoing quality concerns could threaten over half of the country's spice shipments, a report said on Wednesday. Economic think tank Global Trade Research Initiative (GTRI) said that every day new countries are raising concerns about the quality of Indian spices. This issue demands urgent attention and action to uphold the storied reputation of India's fabled spice garden, it said. «With nearly USD 700 million worth of exports to critical markets at stake, and potential losses soaring to over half of India's total spice exports due to cascading regulatory actions in many countries, the integrity and future of India's spice trade hang in delicate balance,» the report said.

Mint takes a closer look at the importance of good governance practices at startups. Over the past few years, mainly after the pandemic, the startup world has been rocked by several scandals, many of which involved inappropriate behaviour by founders. Given that India has the world’s third-largest startup ecosystem with more than 1.10 lakh such companies, without proper regulation there could be many more such scandals in future.

The Biden administration says it will cancel $6 billion in student loans for people who attended the Art Institutes, a system of for-profit colleges that closed the last of its campuses in 2023 amid accusations of fraud

Congress MLA Dalvir Singh Goldy, who had quit the party over denial of ticket from the Sangrur Lok Sabha seat, on Wednesday joined the AAP. While welcoming Goldy into the party fold, Punjab Chief Minister Bhagwant Mann referred to him as his «younger brother» and a «hardworking youth». «We welcome him along with his supporters,» he said. Goldy worked a lot and became an MLA but he was ignored by the Congress, Mann, who was flanked by AAP candidate from Sangrur seat Gurmeet Singh Meet Hayer, said.

At present, the deadline for all current individual unit holders who own mutual fund units, either alone or jointly, nominate or opt out of nomination is June 30, 2024; otherwise, the folios will be blocked for debits. Mutual fund unit holders must provide nomination details in a specified format and opt out of nomination through a prescribed declaration form. If a holder does not nominate or opt out of nomination by 30 June 2024, folios/demat account will be frozen.

Bank Nifty index. Analysts suggest that breaching this level might not be easy, anticipating the level to act as a resistance point in the near term. Also Read: April Market Review: Nifty 50 soars for 3rd straight month, gains 1.2%; metal index top performer Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

MUMBAI : Mumbai: Minority shareholders of ICICI Securities Ltd are questioning the rationale and intent of mutual funds that bought shares of the brokerage firm in February at a premium only to vote in favour of delisting the company shortly after. By buying the shares at a premium, and then voting for the delisting to get ICICI Bank shares in exchange, the funds hurt the interests of their unit holders, say the minority shareholders.

The Environmental Protection Agency has finalized a ban on consumer uses of methylene chloride, a chemical widely used as a paint stripper but known to cause liver cancer and other health problems

Narayanpur and Kanker districts of Chhattisgarh fought off not just Naxalites, but also a wild bear that attacked him. Constable Mangal Mandavi sustained bite injuries on his leg in the face-off with the wild animal, police said. He was shifted to Narayanpur in a helicopter on Wednesday morning and admitted to the district hospital, they said, adding that his condition is normal. Ten Naxalites, including three women, were killed in the encounter that occurred in the forest between Tekmeta and Kakur villages in Abhujmad area, a Naxalite stronghold, on Tuesday when a joint team of the STF and the District Reserve Guard, both units of the state police, was out on an anti-Naxal operation.

China, India and religious affinities, Prime Minister Lee Hsien Loong said on Wednesday as he appealed for cohesion in his last major speech before stepping down from the leadership of the prosperous city-state in two weeks. «Social cohesion is important and race, language, and religion are traditional fault lines that will never go away for Singapore. While huge efforts have been made to build a shared Singaporean identity, the nation will always be subject to external forces that pull different segments of its population in different directions,» Lee said as he delivered the keynote address at the May Day Rally. «We cannot disavow our diverse ethnic roots and religious affinities — Chinese Singaporeans with China, Indian Singaporeans with their various ancestral homes in India, Malay Singaporeans with the rest of our region, and with the global Muslim Ummah,» Lee said impressing on the citizens of prosperous island state nestled in the heart of Southeast Asia.

taxes to the Canada Revenue Agency.If you don’t, you can lose benefits, pay stiff fines or even face jailtime, an accountant told Global News.“Failing to file taxes by the deadline – there are some serious consequences,” Chartered Professional Accountant Shayan Rashid said.If you owe money, the late filing penalty is “five per cent of your 2023 balance owing, plus an additional one per cent for each full month that you file after the due date, to a maximum of 12 months,” according to the Canadian Revenue Agency (CRA) site.That means you could potentially end up paying 17 per cent of any balance you owe, Rashid said.But if the CRA charged you a penalty for filing late in 2020, 2021 or 2022 and requested a formal demand for return, the agency site says “your late-filing penalty for 2023 will be ten per cent of your balance owing” plus “for each full month that you file after the due date, to a maximum of 20 months.”“That’s just the penalty portion,” Rashid explained.“On the interest portion – this gets fun because now the rate of the CRA is charging is almost 10 per cent … and that compounds daily.”“If you have a balance owing for 2023 and are unable to pay it by the April 30 payment due date,” the agency’s site states, “the CRA will charge you compound daily interest starting May 1, 2024.”Rashid said the CRA can take more severe action if someone consistently files late or ignores repeated requests, like garnishing their wages, freezing bank accounts or placing liens on properties.“We have see the CRA go directly to the employer,” he said, speaking from Oakville, Ont, and that employer would be “required to pay the wages (to) the CRA first” before paying the employee.Extreme cases can result in tax evasion or fraud