Paytm's $2.2 billion IPO is facing an unusual hurdle while the ATM body seeks review of RBI's penalty rule if ATMs found with no cash. Meanwhile, retail inflation fell to a three-month low of 5.59 per cent in July from 6.26 per cent in the previous month.
Govt's retro tax settlement with Cairn Energy may hinge on Vedanta case
The Union government’s offer of settling the retrospective taxation case with Cairn Energy may hinge on Vedanta withdrawing the ongoing arbitration from the Singapore Tribunal on the same issue. Read more...
Ex-director seeks to stall $2-bn Paytm IPO, company calls it harassment
Paytm's $2.2 billion IPO is facing an unusual hurdle - a 71-year-old former director has urged India's markets regulator to stall the offering, alleging he is a co-founder who invested $27,500 two decades ago but never got shares. Read more...
Food items drag retail inflation to three-month low of 5.59% in July
Retail inflation fell to a three-month low of 5.59 per cent in July from 6.26 per cent in the previous month as the rate of price rise in food items, particularly vegetables, declined. However, economists cautioned that inflationary pressures might come back if supply is disrupted and demand rises with the economic recovery later in the current financial year. Read more...
ATM body protests RBI's penalty rule if found with no cash, seeks review
Shocked by the latest decision of Reserve Bank of India (RBI) to impose penalty on banks if an automated teller machine (ATM) runs out of cash for more than ten hours in a month, the Confederation of ATM Industry (CATMi) has protested the decision and sought a review of the rule. Read more...
Forex reserves for hedging, can't use them to fund projects: Experts
The country's foreign exchange (forex) reserves are accumulated from investment flows and are not "ours" as there are liabilities against them. Hence, the forex kitty works as a buffer against exchange rate volatility and is not for deploying to fund projects, said analysts and experts. Read more...
Funding at a glance: SoftBank expects a bonanza from seven Indian start-ups
The value of its Chinese investments might have plummeted due to Beijing tightening control of companies like Alibaba, TikTok or Didi where it has substantial exposure but SoftBank’s value of its investments in India are expected to go up, thanks to seven start-ups going for an IPO in the next 12- 24 months. Read more...
Future group promoters and holding companies approach the SC against Amazon
Kishore Biyani, Rakesh Biyani and other family members of the Biyani family along with the holding companies Future Coupons, Future Corporate Resources, Akar Estate and Finance has filed SLP against Amazon.com NV Investment Holdings LLC before the Supreme Court, said a regulatory filing by a group firm Future Retail Ltd. Read more...
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