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Government monitors Pandora Papers probe, Maruti expects production to drop 40% and more in October

The Reserve Bank of India (RBI) replaced the boards of directors of Srei Infrastructure Finance Ltd & Srei Equipment Finance Ltd on Monday and appointed an administrator. Digital payment and finance company Paytm is preparing for an initial public offering (IPO) ahead of Diwali. A multi agency group led by the CBDT chairman will oversee the investigation into the Pandora Papers case. For all of these stories and everything in between, here’s some top news of the day

ECONOMY / BUSINESS

RBI replaces board members of Srei Infra & Srei Equipment Finance, appoints administrator

The Reserve Bank of India (RBI) replaced the boards of directors of Srei Infrastructure Finance Ltd & Srei Equipment Finance Ltd on Monday and appointed an administrator.

“In exercising the powers conferred under Section 45-IE (1) of the Reserve Bank of India Act of 1934, Reserve Bank today replaced the directors of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL.)), Due to of governance concerns and failures of the above companies in meeting their various payment obligations, “said RBI. Continue reading

Zee-Invesco Hearing: Invesco says NCLT must make a Mandatory Order to Call EGM

The National Company Law Tribunal (NCLT) must order the convening of an Extraordinary General Meeting (EGM), said senior attorney Mukul Rohatgi, who represented Invesco Developing Markets at the NCLT hearing. Continue reading

Maruti expects production to decrease 40% in October; The problem with the lack of chips is slowly resolving

Passenger car (PV) major Maruti Suzuki sales fell 46 percent in September due to the global semiconductor shortage facing the automotive sector.

“In September production fell by almost 55 percent. This month we also told the exchange that we are projected to decrease production by 40 percent, ”said Shashank Srivastava, ED Marketing and Sales at Maruti Suzuki, in an interview with CNBC-TV18. Continue reading

MARKETS

IPO Market: Why Paras Defense’s Strong Show signals the return of investor excitement

The appeal of public offerings seems to be returning to Dalal Street after a lull. Paras Defense & Technologies has surpassed 39 other new entrants, making it the best IPO this year to date. The performance of the Paras share on the trading day was also the best so far in 2021. Read more

Divi’s Labs stocks are winning the most at Nifty50; Reached all-time high

Divi’s Laboratories shares rose as much as 10 percent on Monday, hitting an all-time high of Rs 5,313.8. The stock was the top winner on the Nifty50 index. In a key development, US companies Merck and Ridgeback Biotherapeutics announced that their investigational oral antiviral drug molnupiravir could have the chance to significantly lower the risk of hospitalization or death for those at highest risk of severe COVID-19 infection . Continue reading

Paytm Prepares to Launch Ahead of Diwali IPO; FIIs show interest

Digital payment and finance company Paytm is preparing for an initial public offering (IPO) ahead of Diwali. CNBC-TV18 has learned that foreign investor demand is building and the IPO valuation is in the range of approximately $ 20 billion to $ 22 billion. Continue reading

INTERNATIONAL

David Julius and Ardem Patapoutian win the Nobel Prize in Medicine in 2021

American scientists David Julius and Ardem Patapoutian received the Nobel Prize in Physiology or Medicine in 2021 for their discoveries of receptors for temperature and touch. Continue reading

Whistleblower Says Facebook Makes A Profit Before Curbing Hate Speech

Frances Haugen, who worked as a product manager on Facebook’s civic disinformation team, appeared on the television show “60 Minutes” on Sunday, revealing her identity as a whistleblower who contributed to a Wall Street Journal investigation and Senate hearing on Instagram for harm teenage girls. Continue reading

2 Korea restores hotline despite northern missile tests

The restoration of an inter-Korean hotline on Monday came three days after North Korea said it had tested a newly developed anti-aircraft missile in the fourth round of gun downings in recent weeks. Continue reading

INDIA

Agricultural laws have been suspended, what you protest against: SC to the farmers’ chamber

A bank of Judges AM Khanwilkar and CT Ravikumar said where the issue of protest is when a party has already turned to the court to challenge the validity of the law. Continue reading

Violence in Lakhimpur Kheri: Leaders storm straight into the district

One day after the violence in the Lakhimpur Kheri district of Uttar Pradesh during the peasants’ protest, in which eight people, including four farmers, were killed, the political exchange of blows has intensified. Here are the latest updates

Pandora Papers: “Financial Secrets” Revealed from 380 Elite Indians

The data also reveals financial secrets of celebrities, business people, religious leaders, and drug traffickers from multiple nations, including India, Pakistan, Russia, the United States, and Mexico. All you need to know

You I

Important credit card mistakes to avoid during the upcoming festival season

The holiday season generally sees an increase in credit card usage, given the large pool of benefits and discounts. However, with all the fervor surrounding the festivities, it is important to remain financially disciplined when using credit cards. Continue reading

Securing financial well-being at a young age is crucial: Here’s why

In recent years there has been an increasing emphasis on health and wellbeing around the world – not just physically and mentally, but also financially. Because of this, financial literacy outside of academic and career-related activities is one of the most important aspects that will help secure your future. Continue reading

WhatsApp is working on a new feature that is likely to introduce a global voice messaging player

Facebook’s WhatsApp instant messaging app is working on a new feature to improve the existing voice messaging functionality on their platform – with a global voice messaging player that will allow its users to listen to voice messages while they review other current chats. Continue reading

(Edited by: Anshul, Aditi Gautam)

Initial published: Oct 04, 2021 at 8:05 PMIST

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