NOT Financial News

To paraphrase the famous line from “Jaws,” “We’re going to need a bigger moat.”

By Chris Warner

By Elizabeth Pineau

RBI's prudential norms does not absolve borrowers from the obligation to show the interest liability on their financial statements, audit regulator National Financial Reporting Authority (NFRA) said in an order. NFRA said that defaulters do not get free from the obligation to recognise interest liability as banks are required to maintain a record of accrued interest on bad loans and do not release the borrower from the contractual liability to pay interest.

Lok Sabha elections due next year, political parties are afoot carving pre-poll alliances and setting narratives. The ruling Bharatiya Janata Party (BJP) retains nearly two-fifths of the popular support in urban India, while the parties in the ambitious Opposition alliance have the combined approval of only 28%, the latest YouGov-Mint-CPR Millennial Survey found. The survey indicated that the BJP was set to keep its dominance with a leadership story centred around Prime Minister Narendra Modi and the lack of consensus on a viable alternative.

At a press conference soon after the Mars orbiter launch in 2013, a foreign journalist asked the same question: why should India send a mission to Mars when millions are in poverty? Then Isro Chairman K Radhakrishnan told him about the benefits of the space programme, but the journalist persisted with his argument. Many might raise the same question about Chandrayaan-3, India's third lunar spacecraft, which is scheduled to land on the Moon today. Though space research has some very obvious benefits such as telecommunication, weather forecasting, GPS, and detecting water bodies and minerals, going to Mars or landing on the Moon is seen by many as a vanity project.

A distinct set of guidelines govern the behaviour of the young members of the Royal Family, setting them apart not just in public appearances but also within the confines of their residences. Embracing Royal etiquette from an early age, Prince George, Princess Charlotte and Prince Louis are not exempt from the rules that define their upbringing. Among these traditions is the curious practice of segregating the young Royals from their parents during formal gatherings, even during festive occasions like Christmas.

Lynne Fennah, non-executive chair of the trust since launch, said shareholders would have been left in a «very difficult» position if the board had stepped down.

The Lottery Corporation chief executive Sue van der Merwe said the aggressive marketing of offshore lotteries has not had a financial impact on the $11.5 billion giant, but claimed the advertising push was concerning newsagencies that a cut from local competitions.

BRICS summit in Johannesburg, South Africa, that started yesterday will discuss many things. It will, however, focus on membership expansion from five members — Brazil, Russia, India, China, South Africa — to a much larger group. South Africa has invited 67 countries to the summit of which 53 are African.

equality. It was the same trite old message that it’s still up to women to prove themselves. This was a golden opportunity to leverage the undeniable success of the tournament that was held in Australia and New Zealand to telegraph a message of acceptance that women are world-class competitors in sports traditionally dominated by men.

airport back-up and helipad support. Indeed, it would not be a surprise if the Centre opts to sweeten the deal in an effort to attract more takers. With a long patch of weak competition in Indian skies expected to give way to an air-capacity boom as a new era of rivalry gets underway, a relaunch will have its advocates.

FTX founder Sam Bankman-Fried has entered a not guilty plea in Manhattan federal court in response to a new indictment that alleges charges of fraud and conspiracy. 

Sam “SBF” Bankman-Fried, the former CEO and co-founder of crypto exchange FTX, has pleaded not guilty to fraud and money laundering charges levied in an updated indictment by prosecutors, according to a report. 

Manmohan Singh who clearly showed that if you do talk to the Pakistanis perhaps out of the public eye in an uninterrupted and uninterruptible way, you can resolve even the issue of Kashmir. After all, there was a four-point agreement that had been drafted and virtually agreed upon and it was not because the Pakistanis withdrew from that four-point agreement on Kashmir, but because the government of (Pervez) Musharraf fell into difficulty and eventually fell that the dialogue was interrupted," he said.

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ILO) said, adding that the impact on employment would be more on high-income countries and among females. According to the ILO study, Generative AI and Jobs: A global analysis of potential effects on job quantity and quality, most jobs and industries are only partly exposed to automation and are more likely to be complemented rather than substituted by the latest wave of Generative AI, such as chatGPT. “Therefore, the greatest impact of this technology is likely to not be job destruction but rather the potential changes to the quality of jobs, notably work intensity and autonomy,” it said. As per the study, 5.5% of total employment in high-income countries is potentially exposed to the automating effects of the technology, whereas in low-income countries, the risk of automation concerns only some 0.4% of employment. The study further shows that the potential effects of Generative AI are likely to differ significantly for men and women with more than twice the share of female employment potentially affected by automation. “This is due to women’s over-representation in clerical work, especially in high and middle-income countries,” it said, adding that one result of Generative AI could be that certain clerical jobs may never emerge in lower-income countries. According to the study, clerical work has the greatest technological exposure with nearly a quarter of tasks considered highly exposed and more than half of tasks having medium-level exposure. On the other hand, the potential for augmentation is nearly equal across countries, suggesting that with the right policies in place, this new wave of technological transformation could offer important benefits for developing countries, the ILO said. According to the ILO, there

Uttarakhand High Court has taken a strict stand in the case of the felling of six thousand trees and illegal construction in the world-famous Jim Corbett Park. The High Court has asked the government why a Central Bureau of Investigation (CBI) inquiry should not be conducted into the matter. During the hearing of the Public Interest Litigation on Monday, the Chief Justice's bench remarked that considering the seriousness of the case and the suspicious role of top officials, why not send it to the CBI? The next hearing has been fixed for September 1. It has been reported that between 2017 and 2022, trees were cut in Jim Corbett for the construction work of Tiger Safari and other tourist facilities. Boundary walls and buildings were also constructed in the National Park.

inflation on an annual basis, Indians are still not opting for high-priced large consumer product packs, a TOI report showed on Tuesday. Citing research from retail intelligence platform Bizom, the report said that the sales growth in high-value packs across FMCG categories shrank in July over the previous year. Low-and-mid-priced packs still figured among the preferred alternatives for most Indians as prices of large packs remain higher than expected. «When the price of a pack rises above a certain psychological threshold — say a Rs 100 pack becomes Rs 110 — then it's difficult to get consumers to purchase these packs. Moreover, e-commerce and quick commerce, where consumers make impulse purchases of small-and-mid-priced packs, continues to grow faster than modern trade where high-value packs are usually bought,» said Mayank Shah, senior category head at Parle Products. He added that consumers are okay with grammage reductions because extra money does not go out of their pockets.

If an individual’s PAN was not linked with Aadhaar by June 30, 2023, then their PAN will be classified as ‘inoperative’. According to income tax rules, an inoperative PAN is the same as an individual not having a PAN. Hence, an individual will not be able to quote PAN, wherever it is mandatory such as for the opening of a bank account, investing in bank FDs etc. If your existing PAN has become inoperative, then you may have questions about banking transactions. For instance, will an inoperative PAN impact credit of salary in a bank account? Will it have an impact on the issue or usage of debit or credit cards? ET Wealth Online spoke to different banks on issues an individual may have with an inoperative PAN. Here is what they had to say.

₹10 lakh, you can buy produce at a higher rate by ₹10 or ₹20 than the retail rate. Those who cannot afford to buy onion, it would make no difference if they do not eat it for two-four months. "Sometimes onion fetches rates of ₹200 per quintal while some times it attracts ₹2,000 per quintal.