Bank reserve allows the completion of international trade in Rupee
Reserve Bank of India has allowed the completion of trade between India and other countries in Rupee, a step to facilitate trade with Russia which is hit by sanctions. Development came when Rupees touched the lowest record of the dollar. India’s trade with Russia reached $ 13.1 billion in 2021-22.
Why is it important: the central bank says this will promote trade growth with an emphasis on exports from India and support increased interest in the domestic currency. As the benefits of collateral, pressure on Indian forex reserves is expected to be reduced.
The government to find an explanation of lower compliance by social media companies
The center can look for explanations from social media companies such as Twitter and Facebook about the lower level of compliance by this platform for legal notice served in India compared to other major countries. The Ministry of Electronics and Information Technology is preparing a comparative report from actions taken voluntarily and in response to official notifications in India and abroad to be reviewed in detail.
Why important: India is one of the leading countries to block internet content. The new government has increased the amount of abolition notification on the social platform. This is expected to increase.
Vivo India asks the Directorate of Enforcement to prohibit bank accounts
The Chinese Cellphone maker Vivo India has urged the Directorate of Enforcement to withdraw his bank account so that it can continue his business, argues that the debit freezing of all 10 bank accounts has endangered its existence in the country. Vivo India sent representatives to ED on July 7, two days after the telephone maker and 23 related companies
Why is it important: Indian authority is increasingly targeting Chinese companies operating in India with charges of financial deviations and tax embezzlement. It is impossible to release pressure.
Opening of the Demat Account in June fell to the lowest since February 2021
The new account that opened in June was 1.79 million, the lowest since February 2021. Opening of a new account has moderated after reaching 3.5 million in October 2021, when the highest touched benchmark index for life.
Why is it important: this decline is expected because equity has been beating in recent months, moderating euphoria around investment in the stock market among retail investors.
Adani Group can explore in 5G consumer services from time to time
The Adani Group’s decision to participate in the upcoming auction to obtain a 5G telecommunications spectrum can be part of a long -term strategy to enter this sector in full, including customer service, according to analysts. However, the group said it plans to obtain a 5G spectrum to develop a private network for airport and port businesses.
Why is this important: Bharti Airtel’s shares have been fell after the announcement. The entry of Adani into telecommunications services Consumer can trigger a wave of disturbance and price war, similar to the launch of Reliance Jio in 2016.
The court directs the market regulator to investigate violations by Cairn India
The Securities Appeal Court has ordered the Indian Securities and Exchange Council to conduct an investigation of the Vedanta Cairn Indian subsidiary due to alleged violations of the norms of the Company’s list and laws while governing the appeal submitted by Cairn Energy UK. The British-based company accused that Cairn India, which is now a Vedanta unit, does not pay dividends that are equivalent to RS 340 Crore to Cairn Energy for three consecutive years from 2013-14 to 2015-16.
Why is it important: Cairn India believes that all dividends are transferred to the Indian Income Tax Department, and payments cannot be made to companies based in the UK. Cairn UK accused that India’s liquid continued to withstand dividends even after the attachment order was released.
Why this is important: volatility in commodity prices has put pressure on the seller’s margin, as a result they encourage the Passhrough clause in the contract, which allows them to bear the unexpected cost pressure and protect the margin.
Announcers increase concern for the auction of media rights for the cricket tournament
Indian sports broadcasters have led to concerns about the alleged lack of transparency in the auction of the upcoming media rights for the ICC World Cup, the T20 World Cup and the Champions trophy. The top four-Disneystar, Sony Pictures Network India, Zee Entertainment Enterprises, and Viaom18-who have bought tender documents, have criticized the use of sealed envelope offers that are sealed than e-Later.
Why is it important: India has so far been the largest market for cricket rights and media for important tournaments is a high betting game for announcers.
Cancer Therapy Cancer Therapy in India may worth one tenth of us
Indian pharmaceutical companies and startups can immediately offer cell therapy -based treatment for cancer almost one tenth of the cost of the US. Immuneel Therapeutics, Laboratory Dr. Reddy, Shenzhen Pregene Biopharma and Immunoact are among companies that work to bring car cell therapy for cancer, especially blood cancer, to India in the next two years.
Why is this important: new treatments for cancer are very expensive in the western market, especially the US. Lower maintenance costs in India will bring assistance to domestic patients and also increase medical tourism.