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Govt strikes: Twitter loses intermediary status

Criminal action can be initiated against the company for unlawful content
The government sent Twitter a communication on June 5 wherein as a goodwill gesture the company was provided one last chance to immediately comply with the Rules.

Logistics sector ups hiring to keep pace with booming e-commerce

HR consultants say hiring is in full force for every role--delivery executives, pickers, packers, loaders, drivers and of course customer service executives. Teamlease estimates the industry workforce

Harsh Kumar, chief strategy officer, Shipsy said company continues to hire people in the technology, sales and marketing teams.

Covid-19: Novavax says vaccine shows 90% efficacy

The company said the vaccine had 93% efficacy against predominantly circulating variants of concern and variants of interest. There was an 11% efficacy in high-risk populations and 100% efficacy again

This vaccine was scheduled for a September 2021 launch in India. The Indian government expects to get 20 crore doses of this vaccine from SII.

Satellite broadband: Bharti’s OneWeb applies for Satcom licence

DoT can grant licence soon but spectrum allocation will have to wait till Trai decides whether auction is required or not

A query sent to OneWeb regarding the licence application and launch of services remain unanswered till the time of going to the press.

Pradhan Mantri Shram Yogi Maandhan scheme: Enrolment in pension scheme for low earners dipping fast

In the two years and four months since PMSYM was launched, just a little over 45 lakh people secured the pension cover.

In the two years and four months since PMSYM was launched, just a little over 45 lakh people secured the pension cover. And even among those registered, there is an increasing rate of default, when it to comes to making the periodical contributions.

Insolvency Case: NCLT sets up monitoring panel for DHFL until Piramal Group’s resolution plan is implemented

The appointment of monitoring committee is typically done for the smooth implementation of the resolution plan. However, some experts are surprised at the appointment of observer cum permanent invitee

On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one.

Capital Formation: March spending binge salvages states’ capex in FY21

Clearly, additional transfers from the Centre by way of Rs 45,000 crore as tax devolution in excess of the Revised Estimate from the divisible pool due to improved tax receipts in March, eased the str

The FY21 capex target for all states as per their BEs was Rs 6.5 lakh crore, up 30% on year. State capex is believed to have a greater multiplier effect on the economy, than such spending by the Centre and public sector undertakings.

India-European Union FTA: Talks to restart soon on realistic note

Experts, too, suggest that both the sides need to work on less controversial issues first; the more difficult ones can be taken up later, as any deal there will take time to materialise.

The EU, including the UK, was India’s largest destination (as a bloc) in FY20, with a 17% share in the country’s overall exports. Importantly, the UK accounted for 16% of India’s $53.7-billion exports to the EU in FY20.

Satcom spectrum: Jio makes a pitch for auction, Bharti Airtel tight-lipped

"Further, assignment of even Ka/Ku/C band spectrum for Geo/Meo satellite must be done through auction only,” Jio has told the Trai, which has floated a consultation paper on licensing framework for

While Bharti Airtel has maintained silence on the issue of spectrum allocation for Satcom services by not taking a categorical position either for auctions or against it, Reliance Jio and Vodafone Idea are batting for auction of spectrum.

Brands rethinking ad strategies

The remaining 31 IPL matches will now be held in September and October, coinciding with Navratri festivities this year

The league, even though split into two parts this year, is still expected to draw advertiser interest

Covid Disruption: PC shipments under cloud as economic activity down

“In addition, OEMs prioritising fast-moving markets, such as the US and Western Europe, and diverting the bulk of their inventory to these markets, has further aggravated the situation. For most of

Besides, Aithal noted that India could soon become a major manufacturing hub for PCs, as the government has extended its production-linked incentive (PLI) scheme for smartphone manufacturing to the PC industry.

Tax Relief: GST cut for Covid-19 test kits, drugs; no waiver for vaccines as vaccination is free in govt sector

The Union government has been of the view that tax concessions for vaccines are redundant, given that these are mostly made available free to people via government channels, while there is no guarant

While some state finance ministers including West Bengal’s Amit Mitra and Punjab’s Manpreet Singh Badal pitched for a temporary waiver of tax for all Covid drugs, vaccines and equipment, a group of ministers led by Meghalaya chief minister Conrad Sangma recommended slashing of GST rates for items other than vaccines.

Covid-19: National sero survey this month, to cover 21 states

He further said states, too, should also do their own sero surveys as national surveys alone would not suffice. This will be the fourth sero survey by ICMR.

A similar tracking of emerging global variants was also required to be done to prevent future surges in the country, Paul said.

Covid-19: Supreme Court rejects plea for fresh loan moratorium relief

The apex court then vacated a September 3, 2020, stay order that restrained banks from declaring as NPAs loan accounts that were not classified as NPAs prior to August 31, 2020.

On May 6, RBI reopened a one-time scheme under which retail borrowers and small businesses were permitted to recast their loans, without being downgraded to NPAs. The scheme will be available for borrowers with aggregate outstanding dues of up to Rs 25 crore.

Covid Woes: Moody’s downgrades GMR’s Delhi airport

DIAL is the concessionaire for the Indira Gandhi International Airport, in Delhi, and operates under an operations, management and development agreement with the Airports Authority of India.

Given a large majority of DIAL's revenue is linked to airport traffic, Moody's expects revenue to fall in line with the drop in passenger numbers.

SBI likely to transfer Rs 20,000 crore NPAs to National Asset Reconstruction Company

These non-performing assets (NPAs) include Essar Power Gujarat, Coastal Energy and Reliance Naval.

This is primarily attributable to >95% of unsecured credit being offered to government/PSU employees and ~41% of corporate loans being offered to PSUs / govt. undertakings.

Rising Joblessness: EPF sops for industry, workers to be extended by 6 months

If the scheme is extended, a large section of the industrial and commercial establishments in the country and the relatively low-earning new employees joining them till the end of calendar year 2021 w

“As on 17.02.2021 benefits are to be provided (under ABRY) to 8.42 lakh beneficiaries through 38,320 establishments,” labour minister Santosh Kumar Gangwar said in the Lok Sabha on March 28, 2021.

Healthy Growth: Organic farm exports jump 51% in FY21

The products were supplied to 58 destinations, mainly the US, the EU, Canada, the UK, Australia, Switzerland, Israel and South Korea.

Farm exports rose over 17% last fiscal to $41.25 billion when total merchandise shipments shrank by about 7% to almost $291 billion.

Deal undone: Petronet & Tellurian’s $2.5-billion pact shelved

On September 21, 2019, when PM Narendra Modi met CEOs of 17 global energy companies at Houston, US, Tellurian and Petronet LNG had signed an MoU to form a JV, with Petronet investing $2.5 billion in T

The Petronet CEO said that “we need to look for suppliers which meets our expectations of price requirement.”

Agri push: Modest hike in Kharif MSPs to curb inflation

Even as farm law protests continue, crop procurement remains robust, Punjab farmers key beneficiaries

Jaypee Infra: Market value of Yamuna e-way higher than liquidation value, says NBCC

The state-run company emphasised assenting financial creditors (AFCs) can realise up to Rs 4,000 crore for the 90% stake in the e-way SPV being offered to them as part of the insolvency resolution pro

Jaypee Infratech

Highway construction’s pace bulldozes pandemic barriers! Sets new record

Despite the pandemic-induced lockdown and restrictions on mobility in large parts of the country, highway construction grew by 74% on year in April-May of the current financial year to 1,470 km or 24.

The latest highway construction signals that the construction sector of the economy, which posted a recovery with 14.5% growth in gross value added (GVA) in Q4FY21, may somewhat retain the momentum in Q1 this fiscal.

Covid-19 products: WTO to begin talks on patent waiver

The proposal, first submitted in October last year, sought patent waivers to manufacture Covid-related medical products by temporarily suspending certain parts of the global Trade-Related Aspects of I

The TRIPS waiver is a necessary to removing IP barriers and paving the way for more companies to produce Covid-19 vaccines, therapeutics or diagnostics by providing them with the freedom to operate without the fear of infringement of IP rights or the threat of litigation.

PLI scheme: Apple vendors hire 20,000 in 7 months

Foxconn and Wistron step up hiring; Pegatron set to follow

As per their PLI applications, these companies are expected to hire nearly 23,000 employees each, by the end of FY22.
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