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RBI) has lifted the business restrictions on Edelweiss Group's NBFCs, ECL Finance and Edelweiss Asset Reconstruction Co (ARC) after being satisfied with the remedial measures put by both companies. “Having satisfied itself based on submissions and remedial measures put in place by these companies to address the concerns of RBI and their commitment to ensure adherence to the regulatory guidelines at all times and on an ongoing basis, the Reserve Bank has decided to lift the afore-mentioned restrictions placed on ECL Finance Limited and Edelweiss Asset Reconstruction Company Limited, with immediate effect,” RBI said in a press release. On May 29, RBI had imposed restrictions on both companies for what it described as 'material' transgressions that allegedly involved 'evergreening of stressed assets'. ECL Finance was directed to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/ or closure of accounts while Edelweiss ARC was directed to stop acquisition of financial assets including security receipts (SRs) and reorganising the existing SRs into senior and subordinate tranches.

Therefore, any comprehensive regulatory framework on the subject can be effective only with significant international collaborations on evaluation of the risks and benefits and evaluation of common taxonomy and standards, Minister of State for Finance Pakaj Chaudhary said in a written reply in the Lok Sabha. Further, he said, the need to balance investor protection and innovation must be assessed in light of the broader objective of protecting the Indian economy from the risks posed by the VDA sector while maintaining the financial and monetary stability of the economy.

Delhi Pollution Control Committee has directed cow shelters and dairy farms in the city to obtain pollution control consent within 15 days, warning of strict action in case of non-compliance. The Committee issued a public notice on Sunday directing all 'gaushalas' and dairy farms with 15 or more cattle, and all dairies operating in dairy colonies in Delhi to apply for mandatory consent under the Water (Prevention and Control of Pollution) Act, 1974, and the Air (Prevention and Control of Pollution) Act, 1981. The directive has been issued in compliance with recent court orders and must be adhered to within 15 days of the notice, failing which legal action will be initiated. The notice follows the «Guidelines for Environmental Management of Dairy Farms and Gaushalas» issued by the Central Pollution Control Board (CPCB) as per the National Green Tribunal's (NGT) order on May 20, 2020.

transaction growth, and business changes, according to a Sebi circular. Also, they have been asked to submit methodology details to Sebi within three months after approval from the Standing Committee on Technology (SCOT) and the Governing Board.

RBI guidelines and the rates at which they are able to lend in foreign currency,” says Bhavik Thakkar, CEO Abans Investment Managers. In an interview with ETMarkets, Thakkar said: “For NRIs since rates have gone down in global major economies, India FCNR rates relatively becomes attractive, if it further goes up, it may benefit them more,” Edited excerpts:

grievance redress system. Murugan said the mechanism, established under the Cable Television Networks (Amendment) Rules, includes self-regulation by broadcasters, self-regulation by self-regulating bodies of the broadcasters, and an oversight mechanism of the central government. The minister said appropriate action is taken wherever violation of the Advertising Code is found by issuance of «Advisories, Warnings, 'Apology Scroll' Orders and Off-air orders.»

Elon Musk's Grok AI chatbot is no longer tied behind a paywall and can now be accessed by all users for free. Grok was first launched by Musk's xAI in 2023 and was closely integrated with X (formerly Twitter), but users had to purchase an X premium subscription in order to get access to the chatbot, unlike many of its peers like ChatGPT, Gemini and Claude. While xAI is yet to issue a formal statement confirming the availability of Grok for all users, many users have shared their experience on gaining access to Grok without purchasing an X premium subscription. We can confirm that Grok AI has indeed rolled out to our X feed. However, since this feature is available for all users, it does come with some limitations.

unsolicited commercial calls received by consumers. «The Department of Consumer Affairs had started working on prevention of pesky calls, and we had to engage with all the stakeholders in this,» Khare told reporters on the sidelines of a CII event here. The Department of Telecommunications was also coming out with rules, he said, adding, «we slowed down because we wanted to actually give the sector regulator full powers».

Reserve bank of India (RBI) has announced that it has allowed small finance banks to offer the credit line on Unified Payment Interface (UPI) in its monetary policy meet (MPC) held on December 06 2024. Credit line on UPI was launched in September 2023 and was made available to scheduled commercial banks, it has now been decided to permit small finance banks to sanction credit line on UPI, the RBI stated. This move will further deepen financial inclusion and enhance formal credit particularly for new to credit customers.

8th Pay Commission as it will help revise their basic pay, allowances, pension, and other benefits. Pankaj Chaudhary, Minister of State in the Ministry of Finance, said in response to a Rajya Sabha question that no proposal for the establishment of the 8th Central Pay Commission is presently being considered. Legislators Javed Ali Khan and Ramji Lal Suman asked whether the Centre was thinking of making an announcement about the new pay commission in the Union Budget 2025–26, which is likely to be presented on February 1, 2025. The Seventh Pay Commission revamped salary structures, allowances, and pensions, prioritising pay parity. This overhaul positively impacted both central government employees and retired pensioners

WHAT DID THE PARDON COVER? Hunter Biden was pardoned for his conviction by a jury in Delaware and a guilty plea in California. Hunter Biden was also pardoned for federal crimes «he committed or may have committed» between Jan. 1, 2014 through Dec. 1, 2024.

Reserve Bank of India on Monday announced decision to remove its supervisory restrictions on Sachin Bansal's Navi Finserv Limited following several rounds of interaction with the company for rectification of deficiencies. «RBI had several rounds of interaction with the company for rectification of deficiencies. Now, having satisfied itself based on company’s submissions, and in view of adoption of revamped processes, systems, and the company’s commitment to ensure adherence to the Regulatory Guidelines on an ongoing basis, especially for ensuring fairness in the loan pricing, the Reserve Bank has decided to lift the afore-mentioned restrictions placed on Navi Finserv Limited, with immediate effect,» said RBI in the statement. The central bank on October 17, 2024 had issued directions to Navi Finserv Limited, Bengaluru (and three other NBFCs), to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024.

lesser-known destinations into iconic sites and promoting a more balanced distribution of tourists across the country. According to the directives of the Department of Expenditure, the Ministry of Tourism issued operational guidelines for Special Assistance to States/Union Territories for Capital Investment (SASCI) for the development of iconic tourist centres, officials said. The Ministry of Tourism circulated the SASCI guidelines to the state governments with a request to formulate and submit the project proposals to the ministry, which are iconic in nature and can create impactful destinations, they said. By the last date of submission, October 15, 2024, a total of 87 project proposals were received costing more than Rs 8,000 crore, a senior official in the ministry said.

DOCA) to quickly notify guidelines by using its powers under Section 18 of the Consumer Protection Act, 2019, to expedite stringent action against individuals/entities bombarding ordinary consumers with unsolicited and unwarranted business communications (UBC). “The DOCA guidelines, once issued, will cover all sources of UBC – whether through the telecom service provider channel or the OTT Communication channel — and will provide complete protection to the consumers at large,” the Cellular Operators Association of India (COAI), which represents Reliance Jio, Bharti Airtel and Vodafone Idea (Vi), said in an official statement Thursday. The telecom sector lobby body said the present Telecom Commercial Communication Customer Preference Regulation, 2018 (TCCCPR), formulated under the TRAI Act, 1997, is an “incomplete and therefore ineffective solution,” as there are several entities in the ecosystem that are responsible for the UBC that are outside the telecom regulator’s jurisdiction.

Referring to an order issued by the Municipal Corporation of Delhi on Wednesday, the sources said that the 72-year-old man from west Delhi was admitted to the All India Institute of Medical Sciences on November 3 following chest pain. The patient is diabetic (20 years, uncontrolled), has coronary artery disease with CHF, bilateral lower limb weakness and bowel and bladder incontinence, the source said.

Check out oil-filled heaters on AmazonInfrared heaters are often labelled as unsafe, mainly due to their ability to produce intense heat. However, modern infrared heaters are designed with multiple safety features, making them as safe as any other room heater. These include automatic shut-off mechanisms, cool-to-touch exteriors, and tip-over protection.

Subscribe to enjoy similar stories. Mumbai: When comedian Kunal Kamra began posting videos of old, dusty piled up scooters lying before Ola Electric service centres, he seemingly triggered a tidal wave of rants by Ola customers who had long given up on any redressal. Kamra’s X (formerly Twitter) post blew up with photos and videos of non-functional scooters.

GQG Partners, one of the biggest foreign institutional investors in Adani Group, said it is monitoring the charges filed by the US Attorney's Office for the Eastern District of New York and the Securities Exchange Commission against founder Gautam Adani, group companies and executives. GQG said it is «reviewing the emerging details and determining what, if any, actions for our portfolios are appropriate.» Shares of GQG Partners plunged 20% on the ASX (Australian Securities Exchange) on Thursday, eroding nearly ₹8,100 crore (approx. US $950 million) or 16% of its market value.

urban freight efficiency and cut logistics costs, an official said on Wednesday. Under the Indo-German technical cooperation, Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ's) Green Freight Project supported the relevant state authorities in the preparation of the model CLPs and adopting international best practices. This is crucial for reducing congestion, pollution and logistics costs while improving the overall quality of life in cities. Additional Secretary in the DPIIT Rajeev Singh Thakur said that both Delhi and Karnataka governments have provided support for developing these plans.

RBI Deputy Governor Swaminathan J has asked banks to follow KYC guidelines with both «precision and empathy», failing which regulatory actions will be taken against them by the central bank. Addressing a Conference of Directors of Private Sector Banks here on Monday, the Deputy Governor also expressed concern that in many cases, customer grievance mechanisms, including the Internal Ombudsman structure, are treated more as a formality than as a robust, effective resource. The Internal Ombudsman mechanism should be more than words on paper; it should operate with the spirit and diligence necessary to resolve issues impartially and promptly, he said. Bank boards, he said, should work towards building customer-centric banks where every individual, regardless of age, income, or background, feels valued and respected.

value creation strategy. It directed them to cough up an annual dividend of at least 30% of their net profit or 4% of their net worth, whichever is higher. As per the earlier norms, the dividend payment requirement was 30% of the profit after tax or 5% of net worth, whichever was higher. The latest norms, however, specify that financial sector CPSEs like non-banking financial companies need to pay a minimum annual dividend of 30% of their profit after tax, subject to any limit under any extant legal provisions, according to the revised guidelines issued by the Department of Investment and Capital Asset Management (DIPAM). There was no separate directive for financial sector CPSEs in the guidelines issued in 2016. Any exemption from this requirement has to be sought from the finance ministry.