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New norms: Threat of criminal action pushing social media firms to move court

The penal provision in the earlier IT rules with regard to imprisonment was limited, in the sense that if social media firms failed to remove/block/monitor/intercept content if directed by the governm

Section 79 of the IT Act provides social media companies intermediary status, which provides them exemptions and certain immunity from liabilities for any third-party content and data hosted by them.

Tata Digital pumps $75 m into CureFit; co-founder & CEO Mukesh Bansal to continue to lead fitness start-up

Tata Digital recently completed its acquisition of e-grocer BigBasket, and is understood to be close to acquiring a significant stake in online pharmacy 1mg. Mukesh Bansal, the founder & CEO of CureFi

Working capital days was reduced to 39 in FY21 from 87 in FY20 — driving strong FCF generation. Starbucks is now present in 18 cities with 221 outlets.

First phase: Rs 89k-crore loans to be moved to NARCL

The chairman of Indian Banks’ Association (IBA), Rajkiran Rai G, said banks have identified accounts which can go to the ARC in the first phase and have arrived at this number. “However, once the

The government’s plan, as outlined in the Union budget for 21-22, is to create an ARC and an AMC to take over and resolve bad loans.

NCLT okays Piramal’s bid for DHFL with some conditions

The tribunal also rejected the plea of former DHFL promoter Kapil Wadhawan to get access to a copy of the resolution plan.

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.

Free Covid-19 vaccines for all, Centre to foot bill

Those who want to pay for the doses can get vaccinated at private hospitals, which can continue to procure 25% of the jabs, said the Prime Minister. However, these hospitals can charge a maximum servi

The country’s vaccination drive can also get a significant boost, if the ongoing research on a nasal spray vaccine succeeds, he said.

Free grains for 80 crore poor till Diwali: PM Modi

The beneficiaries will continue to get an additional 5 kg of rice or wheat and 1 kg of pulses, every month under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY). This distribution is over and abo

So, if all the free grains are lifted, it may cost the exchequer around Rs 1.2 lakh crore this fiscal, roughly the same as last.

Trade Talk: China is now second-largest export destination, behind only US

Analysts, however, caution against reading too much into the FY21 data, saying “one swallow doesn’t make a summer”. As such, the pandemic year isn’t the ideal time to forecast a trend on its b

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.

Asset monetisation: NHAI to wait till traffic is normal

According to rating agency Icra, toll collections fell by around 10% in April 2021 over March 2021 and estimated to have declined by 25-30% in May 2021 over April 2021.

Apart from InvIT, NHAI has two other means to raise funds through monetisation of assets – toll-operate-transfer (TOT) model and toll securitisation. Proceeds from the asset monetisation programme are used to repay debt and develop highways.

Power Crisis: Despite PFC-REC loan, discoms’ dues rise 8% at April-end

Invoices cleared in the month in April was still 76% higher than the value of bills paid in April FY21, thanks to PFC-REC loans received by dicsoms under the Rs 1.25-lakh-crore liquidity infusion sche

Discoms

Fresh stimulus unlikely in Q1, focus shifts to undertaking budgetary capital spending

Certain amount of demand stimulus part of Budget FY22, more steps at this stage could stoke inflation, feel officials

So, any package to spur demand may be approved only after a careful assessment of its necessity and hinges on the fiscal space, he added.

Production-Linked Incentive scheme reset: Govt may shift smartphone PLI by a year

Outlay, investment & sales targets, and incentive structure would remain the same

Companies that did not meet the FY21 incremental sales target now have time till FY26; FY21 will now be treated as Year Zero year meant to make preparations.

Jaypee Infratech acquisition: Suraksha Realty seeks week for new bid; NBCC submits plan

In November 2019, the Supreme Court directed the completion of JIL insolvency process within 90 days and ordered that the revised bids to be invited only from NBCC and Suraksha group.

Jaypee Infratech

Real Estate: Noida leads in office space uptake in Delhi-NCR, pips Gurgaon

Noida is attracting corporates as it boasts of better road and metro connectivity, affordable housing, abundant power, Grade-A offices, competitive rentals and upcoming international airport and logis

During the January-March 2021 quarter, Delhi NCR witnessed a net absorption of 1.07 million sq ft (MSF), a 5% growth Q-o-Q, JLL India said, adding that Noida contributed 55% of the net absorption followed by Gurgaon at 38%. Noida has been consistently outpacing Gurgaon since April-June 2020.

Review Meet: Finance minister asks states, insurance companies to expedite settlements of claims under key schemes

During a review of the Pradhan Mantri Garib Kalyan Package (PMGKP) Insurance Scheme for health workers fighting the pandemic, the minister observed that only 419 claims amounting to Rs 209.5 crore hav

Faster claim settlements have assumed greater significance in recent months, given the ferocity of the pandemic that has claimed 3.44 lakh lives in the country.

Govt gets tough: Twitter gets final notice to comply with new rules

The government has said though the new rules came into force from May 26, “as gesture of goodwill, Twitter Inc is hereby given one last notice to immediately comply with the rules, failing which the

Even before the new IT rules came into force, the government and Twitter have been at loggerheads over the latter not complying with a direction of removing 'manipulated media' tag from some tweets of BJP leaders on an alleged Congress toolkit used to target the Centre over its Covid-19 handling.

Govt notifies PLI scheme of Rs 6,238 crore for white goods

The incentives will flow in from the next fiscal at 6% (if the investments start from FY22) and will be reduced to 5% by FY25 and then to 4% in FY27.

Under the scheme, eligible investors in air-conditioners, LED lights and such components will get incentives of 4-6% on incremental sales (to be calculated over the base year of 2019-20) of products manufactured in India. The total incentives of Rs 6,238 crore will be disbursed over five years.

RBI keeps interest rates unchanged, announces measures to support economy

Pranjul Bhandari, India chief economist, HSBC, observed that while India’s CPI inflation is under the 6% upper limit of RBI’s tolerance band, it has been higher that the 4% target for the last 19

Expectedly, the central bank retained its accommodative stance so as to keep bond yields in check and facilitate the government’s gigantic borrowing programme.

Review meet: Finance minister asks ministries, CPSEs to front-load capex to stimulate growth

This was the fourth such review meeting held by the finance minister with various ministries and departments and second in a series of meetings scheduled for the infrastructure road map after the pres

During the meeting, capital expenditure plans of various ministries and related CPSEs, status of implementation of budget announcements and measures to expedite infrastructure investment were discussed, according to a statement by the finance ministry.

Biological E Covid-19 vaccine capacity at 75 million a month from September

Zydus Cadila vaccine emergency use licensure in two weeks

On the fiscal impact of this and extension of free food programme till November, she added that the associated fiscal cost works out to be 0.4 per cent of GDP.

Biological E to get Rs 1,500-crore advance for 30-crore doses

The National Expert Group on Vaccine Administration for Covid-19 (NEGVAC) has approved the Biological E vaccine. The MoHWF said this arrangement with Biological E was part of the plans to encourage in

Trade Winds: Commerce secretary Anup Wadhawan says India to start FTA talks with UK, EU this year

Since its pull-out of the Beijing-dominated RCEP trade negotiations in November 2019, India has been seeking to expedite talks with key economies for “fair” and “balanced” trade pacts.

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.

Privacy concern: Stop WhatsApp from forcing users to accept its new privacy policy, govt urges Delhi High Court

Alleges the messaging platform is obtaining consent of subscribers through trick

WhatsApp,

Rural India driving Internet user base, says report; cheaper data plans and devices fuelling growth

Vernacular, voice and video are projected to emerge as major game-changers for the digital ecosystem over the next few years.

Norway’s Scatec buys 50% in Acme’s 900-MW solar project in Rajasthan

Acme will be the turn-key engineering, procurement and construction provider with scheduled completion in 2022, the statement added. The deal marks Scatec’s foray in India’s renewable energy space

Tata Power wins 210-MW solar EPC contract from NTPC

With this contract addition, the order pipeline of Tata Power Solar stands at about 2,800 MW with an approximate value of Rs 13,000 crore, the company said.

Covid tracker: SII may make Sputnik V in India

SII has sought permission from the Drug Controller General of India (DCGI) and has submitted an application, (C-10), on Wednesday for test analysis and examination. Once these permissions are receive

SII has committed to make 100 million Covishield vaccines a month from June. It has started manufacturing the Novavax vaccine, in small batches, at its Pune plant, even as it awaits regulatory clearance in the US and subsequently in India.

Terming vaccine policy ‘arbitrary’, SC asks Centre for spend details

At present, the Centre’s vaccination policy provides for free vaccination for those 45 and above and a paid system for those between 18-44 age group.

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