Action Financial News

₹400,000 in India for the first year of treatment, and ₹200,000 for subsequent years due to lesser dosage requirements. In the US, it is listed at $2,190, subject to insurance coverage variations. "…(R)etinal conditions are often diagnosed late or neglected, leading to vision loss," said V Simpson Emmanuel, chief executive and managing director, Roche Pharma India.

China's blueprint for its economy in 2024 is replete with goals and promises, but it's also notable for not spelling out specific moves to attain long-promised reforms that foreign businesses and investors have been hoping for

Reserve Bank of India on Wednesday barred JM Financial Products from doing any form of financing against shares and debentures after it found 'serious deficiencies' that are detrimental to the interest of the customers, during a review of its books. With immediate effect, JM Financial Products has been asked to cease and desist from doing any form of financing against shares and debentures. This includes sanctioning and disbursing loans against IPO of shares and subscription to debentures. RBI has allowed the company to service its existing loan accounts through the usual collection and recovery process.

Scheme creditors, or investors in the fund at the time of suspension, are likely to receive their first redress distribution related to Link Fund Solutions' role in the collapse of the fund this April. The Financial Conduct Authority-backed scheme became effective at 9am this morning, following two court hearings and a vote on the proposal. FCA reasserts proposed Woodford redress is 'subset of total losses' as sanction decision delayed Creditors need to take no action to receive their first distribution, with the payments arriving in their accounts in the same form any of the past ...

Fantom Foundation, the team that builds Fantom Network, has received a favorable judgement from the High Court of Singapore in its legal action against the cross-chain protocol Multichain.

Rajiv Kumar on Tuesday said strict instructions have been issued to the West Bengal bureaucracy to ensure a level playing field for all political parties, and asserted that any form of violence will not be tolerated during the upcoming Lok Sabha polls. Kumar, addressing a press conference here, said the goal of the Election Commission is to ensure a free, fair and violence-free elections in the state. «There is no place for fear or intimidation in elections. Partisan approach of the bureaucracy will not be tolerated; we have made this clear,» he said. Kumar said sufficient number of central forces will be deployed in West Bengal, and it will be done in an «impartial manner».

Bengaluru residents.

Paytm founder Vijay Shekhar Sharma voiced confidence that his digital payments pioneer will overcome regulatory setbacks in India this year and stage a comeback as a stronger company. “The biggest thing that I’ve learned is that many times your teammate and adviser may not be getting it correct,” Sharma said at a financial technology conference in Tokyo Tuesday, his first public appearance since Indian regulators ordered his banking affiliate to halt certain activities. “And it is important for you, yourself to be taking care of it versus just letting a teammate or a adviser suggest that what should it be.” Sharma is fighting to put his digital-payments company back on stable footing after regulators placed severe curbs on the banking affiliate, the backbone for much of its financial and payments services. Both Paytm and Paytm Payments Bank are part of the billionaire’s fintech empire, but the bank isn’t controlled by the publicly traded mobile wallet pioneer.

FSSAI) has confirmed that McDonald’s India uses 100% real cheese, Westlife Foodworld said in a stock exchange intimation on Tuesday. «The verification confirms the brand’s assertion that it uses 100% Real Cheese and that it does not use any cheese analogues or substitutes in any of its products,» the company said. Further, the west and south zone of McDonald’s India has also received results of tests done by an NABL-accredited lab, confirming use of 100 per cent real cheese across its products, Westlife said.

Supreme Court on March 5 quashed proceedings initiated against Karnataka Deputy chief minister DK Shivakumar in a 2018 money laundering case. Shivakumar was first arrested in the case in September 2019 following several rounds of questioning in a case that emerged from an Income tax department action against him. The Delhi High Court had granted him bail in October of that year.

The Vidhana Soudha police, earlier on Monday arrested three people for allegedly raising «Pakistan Zindabad» slogans in the corridors of Vidhana Soudha during the victory celebrations of Rajya Sabha member, Syed Naseer Hussain. Deputy Commissioner of Police, Central Division, Shekhar H.T., confirmed that the arrest is based on the FSL report, circumstantial evidence and statements of the witnesses gathered at the event.

Chakshu portal and under the Sanchar Sathi initiative. The portal aims to empower subscribers to report suspected fraud calls and messages, as well as instances of leaked phone numbers by businesses. The new platforms, 'Chakshu' and 'Digital Intelligence Platform (DIP)', will integrate with the Sanchar Saathi portal, enabling prompt sharing of intelligence among various stakeholders. Ashwini Vaishnaw, the Union IT and Communications Minister, emphasized the effectiveness of digital measures in fighting fraud and crime. Over the past nine months, these measures have resulted in citizens saving approximately Rs 1,000 crore and freezing Rs 1,008 crore in bank accounts linked to fraudulent transactions. Subscribers can utilize the Chakshu portal to report incidents of leaked mobile numbers, with appropriate action promised against wrongdoers.

South Korea’s government is pressing ahead with its vow to suspend the licenses of thousands of junior doctors who ignore its repeated demands to end their collective walkouts

income tax return (ITR) filed by taxpayers. These mismatches are relating to financial year 2021-22 and 2022-23. It is important to fix these mismatches as tax experts say that if an individual is unable to explain the reason behind the mismatch, they may get an income tax notice. To help individuals find the mismatch and then take action, a new on-screen online functionality has been made available on the income tax portal at https://eportal.incometax.gov.in by the Central Board of Direct Taxes (CBDT). The name of this web portal is 'Compliance portal' and the scheme is being called 'E-Verification Scheme 2021'. «In some cases of Income Tax Returns (ITRs) filed for A.Y. 2021-22 (F.Y. 2020-21), a ‘mismatch’ has been identified, between the information filed in the ITR vis-à-vis information of specified financial transactions, as available with the Department. In cases where ITRs for A.Y. 2021-22 have not been filed and, the Department is in possession of information of specified high value financial transactions, the same also needs to be examined,» said the Income-tax department in a press release dated March 4, 2024.

₹478.50 on Tuesday after the Reserve Bank of India (RBI) barred IIFL Finance from sanctioning and disbursing gold loans with immediate effect on certain material supervisory concerns. "The Reserve Bank of India, in the exercise of its powers under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, directed IIFL Finance Ltd to cease and desist, with immediate effect, from sanctioning or disbursing gold loans or assigning/ securitising/ selling any of its gold loans," the RBI said in a press release.

Digant Haria, Co-Founder, GreenEdge Wealth, says once more details of the merger come out, most of the people would like to be in the passenger vehicles part of the demerged business, the one which is doing well and that has a lot of potential. The CV finance division and the CV division, both will be a part of the same entity. That is something which is very, very cyclical and which has given pain to this company in the past as well. So yes, excitement will be there. But the long term story is still with the passenger vehicle part. What is it that you have made of the Tata Motors demerger and what should investors who own Tata Motors shares now look forward to? Digant Haria: The best part about Tata Motors still remains the success in the domestic premium car market. Electric vehicles are still only a story. And China has already taken a big lead in electric vehicles. Even Tesla is struggling. So the story here still is about passenger vehicles and we all know that commercial vehicles (CVs) are deeply cyclical. So once more details of the merger come out, most of the people would like to be in the passenger vehicles part of the demerged business, the one which is doing well and that has a lot of potential.

Sensex rose 66.14 to settle at an all-time high of 73,872 and the broader Nifty jumped 27 points to close at a lifetime high of 22,405. Stocks that were in focus included names like Data Patterns, which rose 5.22%, Max Healthcare, which fell 2.97%, and Tata Steel, whose shares declined 1.45% on Monday.

Jharkhand Police has handed over a compensation of Rs 10 lakhs to the husband of a Spanish woman who was allegedly gang-raped in Dumka on Friday. According to the police, the Spanish woman was gang-raped in Hansdiha police station limits when she was en route to Nepal from West Bengal. «We did a fast investigation and from the side of district administration, we are providing all the help to them (rape survivor and husband). Under the victim compensation scheme, we have given them Rs 10 lakh. We will try for a speedy trial and conviction of the accused,» Anjaneyulu Dodde, Deputy Commissioner, said on Monday.

dollar held steady on the yuan on Tuesday as markets digested a welter of policy statements out of China, while a rebound in Tokyo inflation seemed to take Japan a step closer to the end of negative interest rates. There was more action in bitcoin, which gained 1.2% to $68,341 after surging more than 7% on Monday. The blockchain asset has benefited from flows into cryptocurrency exchange-traded funds, most notably in the United States.

«The broader market could remain under pressure given the profit booking and adverse advance-decline ratio. Hence we suggest traders be very selective in mid/small caps,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

By David Shepardson