CBI arrests former NSE CEO Chitra Ramkrishna in co-location case
The Central Bureau of Investigation (CBI) on Sunday night arrested former managing director (MD) and chief executive officer (CEO) of National Stock Exchange Chitra Ramkrishna in Delhi in the co-location case after her anticipatory bail plea was rejected by a Special CBI court on Saturday. “She will be presented before a Delhi court on Monday morning,” a CBI official said under condition of anonymity. Read more
81 high-impact infrastructure projects make it to Gati Shakti list
The industry department has identified 81 high-impact projects under various infrastructure ministries for the government’s Gati Shakti initiative. These projects will be closely monitored in 2022-23, according to officials. Major industrial corridors of National Industrial Corridor Development Corporation (NICDC), key expressways and highways, such as Amritsar-Jamnagar expressway, Delhi-Mumbai expressway, others will be among the government’s priority. Read more
Investments via UAE to face more scrutiny after FATF grey list inclusion
The United Arab Emirates (UAE) has become the latest addition to the grey list put out by the Financial Action Task Force, a global financial crime watchdog. The country’s inclusion may reduce its attractiveness as an investment hub for foreign inflows into India and raise the level of scrutiny by India’s financial regulators. Read more
Ukraine crisis: Russian oil companies offer big discounts to India
As stringent sanctions imposed by the European Union and US are crippling business and trade, desperate Russian oil companies are offering huge discounts to India, provided a payment mechanism to bypass the SWIFT ban is quickly approved by the government. According to sources familiar with the development, Russian oil firms are offering 25-27 per cent discount to the dated Brent crude prices. Read more
Malaria to pneumonia vaccines: SII now betting on non-Covid shots
The world’s largest vaccine maker, Serum Institute of India (SII), is working out plans on redeploying its installed capacity after the demand for Covid-19 vaccines wanes. Key pipeline vaccines like those against malaria, pneumonia, and HPV are likely to go into production within the next few months to a year or so, and that would take care of capacity utilisation. Read more
India Inc busy with back-to-office drill as Covid-19 cases decline
With a sharp decline in the rate of Covid-19 infections, companies across sectors that had switched to work from home, are now ready to welcome their employees back to office. However, there is a clear divide emerging amongst sectors — between those that want 100 per cent of their employees to work from office, and those, led by the IT companies and startups, that are opting for a hybrid workplace model. Read more
GST body finds more instances of tax fraud at fintech firm BharatPe
The Directorate General of Goods and Services Tax Intelligence (DGGI) has found instances of fraud at BharatPe, and the tax probe body has recovered Rs 12.5 crore so far from the fintech firm, a person aware of the development said. The fintech firm — at the centre of corporate governance lapses — has agreed to having issued more invoices to non-existent vendors, and has additionally deposited Rs 1.5 crore with the tax authorities. Read more
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