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Saturday , October 20 2018
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RBI Announces Steps To Increase Liquidity Flow To Non-Banking Financial Conmpanies

Mumbai: The Reserve Bank of India has issued a statement announcing more measures to increase liquidity flows to the non-banking financial companies. The move will help provide liquidity to housing finance companies (HFCs) and non-banking finance companies (NBFCs) which have come under pressure following a series of default by IL&FS group …

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HC Seeks IRDAI Explanation On Denial Of Insurance Cover To People Suffering From Congenital Anomalies

New Delhi: The Delhi High Court has asked the Insurance Regulatory and Development Authority (IRDAI) to explain the reason for not granting insurance cover to people suffering from congenital anomalies. Congenital disorders, also known as congenital diseases or birth defects, are conditions present from birth. “What is the objection to giving insurance cover to …

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CJI Ranjan Gogoi Gives Nod To Suspend RCT Judge Involved In A Scam

NEW DELHI: Chief Justice of India Ranjan Gogoi has given clearance for the removal of the Railway Claims Tribunal judge RK Mittal, who was found guilty of financial impropriety worth Rs 50 crore in January this year. This came nine months after the Railway ministry wrote to the CJI’s office, as …

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India Urges OPEC For Responsible Pricing Of Oil

New Delhi: India, the world’s third-biggest oil consumer, pressed OPEC to move to the responsible pricing of oil and gas saying the recent spike in rates are far detached from market fundamentals and are hurting importing nations. A combination of crude oil climbing to four-year high and rupee dipping to its …

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US-Based ITServe Files Lawsuit Against US Immigration Body Over Shorter H-1B Visas

A US-based trade association,  ITServe alliance, recently filed a lawsuit in a US district court against US Citizenship and Immigration Services (USCIS). A recent policy change was introduced by US Citizenship and Immigration Services (USCIS), which has resulted in a grant of H-1B visas for a few days or months as opposed …

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NTPC To Raise $150 MN In Foreign Currency Loan To Finance Its Capital Expenditure

New Delhi: NTPC Ltd, India’s largest electricity producer, plans to raise USD 150 million in foreign currency term loan to finance its capital expenditure, according to a company document.  NTPC invited offers for arranging of a term loan in Japanese yen for an aggregate amount of USD 150 million equivalent with …

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Delhi High Court Formulates Scheme For Redressal of Grievances Of Lawyers

The Delhi High Court has formulated a scheme to address the grievances of Members of the bar in Delhi District Courts and the High Court. The scheme was framed by Chief Justice Rajendra Menon and was notified by an order dated October 10, 2018. He stated in the order that during the course of the functioning …

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Major Changes To H1-B Visa Rules Underway: Trump Administration

As a part of the Unified Fall Agenda, Trump administration said that it is coming out with a new proposal to revise the definition of ‘specialty occupations’ under H1-B visas as well as the definition of ’employment’ under this foreign work visa category. The U.S. Citizenship and Immigration Services have planned …

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UIDAI Asks Digital Payment Companies And Mutual Funds Registrars To Stop Offering Aadhaar-Based Services

After tightening the rope at Telecom companies, the Unique Identification Authority of India (UIDAI) has now shifted its focus on digital wallets companies, and mutual funds registrars asking them to stop authentication using the 12-digit unique identification number. The Unique Identification Authority of India also asked digital wallets to provide a …

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Delayed Delivery Of Possession Will Attract Higher Interest And Compensation Cost Than Offered In The Contract: NCDRC

Bringing a sigh of relief to many, the National Consumer Disputes Redressal Commission (NCDRC) in an order ruled that the builder cannot hide behind the clause in the builder-buyer agreement to pay Rs. 5 per square feet per month as compensation for delay in handing over the property to the buyer. A …

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