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BusinessToday.In
New Delhi, July 16, 2018
PNB's NPA recovery in first quarter tops FY'18 level  Scam-hit PNB's recovery of over Rs 7,700 crore in bad loans during the first quarter in the current fiscal has surpassed the total amount it recovered in the entire 2017-18 financial year, indicating that it has embarked on the turnaround path, the bank's top official has said. The Insolvency and Bankruptcy Code (IBC) resolution process has greatly helped Punjab National Bank, which was hit by nearly USD 2 billion fraud allegedly carried out by jeweller Nirav Modi and his associates, he said. \"In the first quarter itself, 2-3 big accounts have been resolved. As a result, the bank has got over Rs 3,000 crore only through the resolution process,\" PNB Managing Director Sunil Mehta told PTI. Govt sets up 10-member panel to review penal provisions under companies lawThe Ministry of Corporate Affairs on Sunday announced that it has constituted a 10-member committee to review the penal provisions under the companies law and examine decriminalisation of certain offences. The high-level committee, chaired by Corporate Affairs Secretary Injeti Srinivas, would submit its report in 30 days to the government. The Ministry of Corporate Affairs seeks to review offences under the Companies Act, 2013 as some of the offences may be required to be decriminalised and handled in an in-house mechanism, where a penalty could be levied in instances of default. De Beers to focus on smaller cities in India for expansion Global diamond producer De Beers is looking to partner local retailers in smaller cities to boost sales which it claims grew at 100 per cent last year. The company sells its diamond jewellery through250 partnered retail stores in the country under the brand 'Forevermark'. Sales during January-June, 2018 remained robust and the overall sales volumes may double as compared to the last year.The Forevermark brand has 30 per cent market share in India. EU urges big powers to prevent trade 'conflict and chaos'  The European Union has called on the United States, China and Russia to work together to avoid trade \"conflict and chaos\" to prevent it spiralling into violent confrontation. \"It is the common duty of Europe and China, but also America and Russia, not to destroy (the global trade order) but to improve it, not to start trade wars which turned into hot conflicts so often in our history,\" EU Council President Donald Tusk said in Beijing. The EU -- the world's biggest single market with 28 countries and 500 million people -- is trying to buttress alliances in the face of the protectionism unleashed by US President Donald Trump's \"America First\" administration. China economic growth slows to 6.7 pc in second quarter  Chinese growth slowed slightly in the second quarter as the world's number two economy faced a snowballing trade fight with the United States. The economy expanded by 6.7 per cent in April-June, down from 6.8 per cent in the first quarter and in line with a 6.7 per cent rate tipped in an AFP survey of economists. Despite the quarterly deceleration, growth was still higher than the annual target of around 6.5 per cent set by the government.


Mail Today Bureau
July 16, 2018
The Ministry of Corporate Affairs seeks to review offences under the Companies Act, 2013 as some of the offences may be required to be decriminalised and handled in an in-house mechanism, where a penalty could be levied in instances of default.


BusinessToday.In
July 15, 2018
In last one year of GST regime, the revenue authorities have come across numerous cases of tax evasion where companies used fake bills to claim input tax credit.


PTI
July 15, 2018
After the data breach came to light, the Ministry had in March and April this year shot off communications to Facebook and Cambridge Analytica seeking clarification on the issue from them.


BusinessToday.In
July 14, 2018
On June 28, the US Immigration Department came out with a policy memorandum which allows the USCIS to issue 'Notices to Appear' in cases where, upon the denial of an application or petition, an applicant is unlawfully present in the United States.


Virendrasingh Ghunawat
July 13, 2018
An executive chairman does not enjoy a free hand and cannot assume that majority shareholders and the board would be at his beck and call, the NCLT order said.


PB Jayakumar
New Delhi, July 12, 2018
India's target is to achieve 175 gigawatt (GW) of renewable energy by 2022 and rooftop applications are supposed to contribute 40 GW of the total 100 GW of targeted solar capacity.


BusinessToday.In
New Delhi, July 12, 2018
Significantly, Ola CEO's email to his team underscored the point that the company has not sacrificed top line growth or ceded market share to Uber to achieve this goal.


BusinessToday.In
New Delhi, July 12, 2018
The ministry has said the RBI will decide about the kind of data that will be stored in India and the six-month timeline. At present, only certain payment companies and their outsourcing partners store customer data, either partly or completely, in India.


BusinessToday.In
New Delhi, July 11, 2018
Five years after Endhiran's release, Shanmugham, announced that he would be coming up with a sequel. The makers started the shoot of 2.0 in 2015, and the primary shooting was wrapped up in 2017.


E Kumar Sharma
July 11, 2018
The TCS stock touched a 52-week high on the Bombay Stock Exchange in early trade on July 11 and some analysts believe it's adding to a growing perception that the IT sector is coming out of the woods.


BusinessToday.In
New Delhi, July 10, 2018
Motorola launches Moto E5 Plus in India at Rs 11,999Motorola has launched the Moto E5 Plus in India at Rs 11,999. The device is the younger sibling of Moto E5 which is priced at Rs 9,999. The new Moto E5 Plus comes with a 6-inch HD+ display which comes with an aspect ratio of 18:9. The device is powered by Snapdragon 430, which is coupled with 3GB of RAM and 32GB Of storage. The device gets a dedicated MicroSD card slot. One of the biggest USPs of the device is a 5000mAh battery that the company claims can provide 1.5 days worth of use. The device will be available via Amazon India's website and Moto Hub Stores. WhatsApp wants you to go through these 10 steps before forwarding a text/imageWhatsApp is going through a critical phase in India due to the spread of fake news leading to mob lynching. The personal nature of the application, end to end encryption and lack of any supervision on content being shared have made it a breeding ground for the spread of fake news and messages.The instant messaging company owned by Facebook has launched various features to keep a check on the spread of fake news on the platform. Recently, WhatsApp launched an 'Admins Only' feature which only allows admins to post in a group. Secondly, forwarded messages will be demarcated clearly in order to help users understand where the message is coming from. Yesterday, the company launched another feature for beta users which will highlight suspicious links shared on the platform in red. The use of this feature is still being tested and may make it to the stable build soon.Apple rolls out new update 11.4.1 that introduces USB Restricted ModeApple on Monday launched iOS 11.4.1 update that contains a crucial security feature called USB Restricted Mode. The feature allows protection against the use of USB devices -- that connect through a Lightning port -- used by cops in the US or private companies to crack iPhones by evading security features. Experts suggest the security feature could help in securing the privacy of the iPhone users but it also puts Apple at loggerheads with the police authorities, who during investigations need to access mobile devices.


BusinessToday.In
New Delhi, July 10, 2018
Experts suggest the security feature could help in securing the privacy of the iPhone users but it also puts Apple at loggerheads with the police authorities, who during investigations need access to mobile devices.


BusinessToday.In
July 10, 2018
If HCL Technologies does follow through on the move, it will be the second leading IT firm to take the buyback route this year. Just last month, Tata Consultancy Services had announced a Rs 16,000 crore share buyback plan.


BusinessToday.In
July 10, 2018
Once the amendments are finalised by the revenue department, they will be moved to the GST Council for approval. After that, they will be placed before Parliament and state legislatures for amending the GST law.


BusinessToday.In
July 10, 2018
NCLT bench members B S V Prakash Kumar and V Nallasenapathy said that Mistry was ousted as chairman because the Tata Sons' Board and its majority shareholders had lost confidence in him.


BusinessToday.In
New Delhi, July 9, 2018
The DoT nod is significant as reports suggest the process of the proposed deal is being closely watched by the PMO. Being one of the biggest merger deals in telecom makes it even more interesting for foreign investment companies looking for future deals in India.


Dipak Mondal
New Delhi, July 9, 2018
Pronab Sen, former chief statistician of Indian and an economist, explains why it is difficult to measure the impact of GST on the unorganised sector.


Sumant Banerji
New Delhi, July 9, 2018
After displacing Samsung from pole position in smartphones, Xiaomi aims for a bigger play in Indian consumer durables.


Deepika Asthana
New Delhi, July 9, 2018
Online aggregators are doing much more than connecting the customer with the service provider. Their future depends on ability to keep innovating.


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