BUSINESS
RBI makes 'Legal Entity Identifier' must for Rs 50 cr plus cross-border deals
The LEI is a 20-digit number used to uniquely identify parties to financial transactions worldwide to improve the quality and accuracy of financial data systems. The identifier norm has been introduced in a phased manner for participants in the over the counter (OTC) derivative, non-derivative markets, large corporate borrowers, and large value transactions in centralised payment systems.
MG Motor India to commence exports to other South Asian countries
"MG Motor India is constantly progressing its operations, expanding the market reach, stakeholder base, and adding new customers and partners to the MG family. Taking this spirit forward, MG is geared up to expand its footprint across the other South Asian countries starting with Nepal," MG Motor India President and Managing Director Rajeev Chaba said.
Xiaomi-Poco India market share clubbed together, shows realme's tweet
In the tweet, realme revealed Counterpoint Research's monthly mobile tracker data that showed Xiaomi at the top slot with 20 per cent market share in October (with its independent brand Poco's share included) while showing realme at the second spot with 18 per cent share. "We are not India's No.1 First Smartphone Brand yet. According to Counterpoint, #realme has took the 2nd position in October'21.
SC rejects Aircel founder Sivasankaran's claims of diplomatic immunity
A bench comprising Justices A.M. Khanwilkar, Dinesh Maheshwari and C.T. Ravikumar dismissed the writ petition filed in 2019 by Sivasankaran, who claimed that he was an Ambassador of the Republic of Seychelles. The bench noted that the Madras High Court had rejected Sivasankaran's plea for diplomatic immunity in 2019 and that he had filed the writ petition in the Supreme Court without challenging the High Court judgment, the report said.
Hasina ranked 43rd on Forbes' 100 Most Powerful Women list
"During what she believes will be her final term, Hasina plans to focus on issues such as food security and access to education and healthcare," the magazine mentioned. Hasina, the longest serving Prime Minister in the history of Bangladesh, having served for a combined total of over 17 years and four terms. She won the fourth term after her ruling party, Bangladesh Awami League, won 288 of the 300 parliamentary seats in the 2018 elections.
Hindustan Zinc's stocks rise on interim dividend, co to pay Rs 18 per share
The company's shares settled at Rs 367.40, up 1.56 per cent from the previous close. A day ago, Hindustan Zinc announced an interim dividend of Rs 18 per share to its investors for the financial year FY22. In financial parlance, a dividend is a part of a particular firm's profits, which it pays out to the investors.
Italian watchdog fines Amazon $1.3 bn for abusing its market position
"The investigation found that these are functions of the Amazon.it platform that are crucial for the success of sellers and for increasing their sales. Finally, the stringent performance measurement system to which Amazon subjects non-FBA sellers is not applied to third-party sellers who use FBA, and failure to pass this can also lead to the suspension of the seller's account," the AGCM said in a statement.
India extends ban on international commercial flights till Jan 31
Earlier, India had announced plans to allow resumption of scheduled commercial international passenger services from December 15 with certain conditions. However, on December 1, the Directorate General of Central Aviation (DGCA) said it is "closely monitoring" the situation emerging out of the Covid-19's Omicron variant and the final decision on the resumption of near normal international flight operations will be taken after consultation with stakeholders.
RBI to launch UPI platform systems on feature phones to promote digitisation
With 118 crore users, India is one of the largest mobile phone users base and a large part of the users operate feature phones. So, enabling UPI payment possible on the most widely used device in the country will take India a step closer to advancing digitisation under the Digital India campaign.
Coal shortage cripples non-power sector as supplies to power sector prioritised
The council has highlighted a recent decision of Coal India to enhance the rake supplies for power sector to 296 rakes per day. The decision dated December 2, 2021 has been taken in order to increase coal stocks level in power plants to 14 days from current level of around 10 days. Coal Ministry's move to increase coal rakes for the Power Sector will deprive Captive Power Plants (CPPs) from coal rakes.
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