March 05, 2021

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IMC EVENTS

 

6
Mar

Energising the Startup Ecosystem in Maharashtra : A Conversation with Aaditya Thackeray

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10
Mar

Seminar on "Government Initiatives: New Opportunities for Commodity Market"

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10
Mar

IMC LW- IMPACT 2021 - Talk by Ms. Ritu Dalmia (Celebrity Chef And Restaurateur)

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10
Mar

Online Interactive Session ‘Innovate, Integrate, Motivate – Leadership Mantra 2021’

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12
Mar

IMC India Calling Conference 2021

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12
Mar

Online Seminar on “Commodity Gold: Options in Goods Contract”.

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17
Mar

IMC LW-IMPACT 2021 - Talk by Ms. Palki Sharma Upadhyay (Executive Editor, WION)

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20
Mar

IMC LW- IMPACT 2021 - Talk by Dr. Harish Shetty (Renowned Psychiatrist)

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24
Mar

IMC LW- IMPACT 2021 - Panel Discussion on Women Innovators

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30
Mar

IMC LW- IMPACT 2021 - Talk by Ms. Gajra Kottary and Ms. Ridhi Sarda (Authors & Tv Serial Scriptwriters)

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10
Apr

IMC Digital Technology Awards 2020 Application Date extended

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Notifications

 
INCOME TAX

4
Mar

Circular No.2 of 2021 (Delhi)
Residential status of certain individuals under Income-tax Act, 1961

4
Mar

Notification No. 10/2021 (Delhi)
S.O. 966(E).—In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (38 of 2020) (hereinafter ref

RBI

1
Mar

RBI/2020-21/105 (Delhi)
Investment by Foreign Portfolio Investors (FPI) in Defaulted Bonds - Relaxations

INCOME TAX

1
Mar

Notification No. 8/2021 (Delhi)
In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Haryana State Po

1
Mar

Notification No. 09/2021 (Delhi)
In exercise of the powers conferred by section 3 of the Direct Tax Vivad se Vishwas Act,2020 (3 of 2020), the Central Government hereby makes the following amendments in the notification of the Govern

CUSTOMS

1
Mar

Notification No. 25/2021 (Delhi)
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962)

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INDIAN ECONOMY

Haryana reservation law sparks fears of ripple effect in other States, rise in unemployment

Twenty-three-year-old Shabbir Mohammed moved from his home town in Purulia, West Bengal to Jhajjar, Haryana, in early 2020 to seek employment opportunities. He found seasonal jobs and was hoping for a full-time role at an electronics company when a shocker hit in the form of a reservation policy in Haryana. ...

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India’s High-Frequency Indicators Plateau After A Spurt

After a quick rebound in economic activity starting October, several high-frequency indicators have plateaued in the last four-to-six weeks. The flattening of economic momentum comes alongside rise in new cases in some states, most notably Maharashtra and Kerala. Economic momentum seems to be getting weaker t...

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Ficci says Haryana job quota law will 'spell disaster' for industrial development in the state

Industry body Ficci on Thursday said the Haryana government's new legislation that provides reservation in private jobs for local candidates will "spell disaster" for industrial development in the state. Ficci President Uday Shankar said the government's move to reserve 75 per cent jobs for the local populati...

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Indian merchants almost halt exports to Iran as its rupee reserves fall: Officials

Indian merchants have almost entirely stopped signing new export contracts with Iranian buyers for commodities such as rice, sugar and tea, due to caution about Tehran's dwindling rupee reserves with Indian banks, six industry officials told Reuters. "Exporters are avoiding dealing with Iran since payments...

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Govt launches drive to ensure FPO scheme’s success

The government has launched a drive to ensure the farmers producer organisations (FPOs) scheme becomes successful to unite mainly the small and marginal farmers, estimated at 12 crore, amid the stand-off over the three farm laws that allowed freedom of choice to farmers and traders in buying-selling of agri p...

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MARKET & FINANCE

Market turnover zooms on higher volatility, institutional participation

The overall derivatives and cash turnover on the exchanges has surged to record highs in the past few months, amid a surge in volatility and greater institutional participation, especially from overseas investors. The daily average turnover in the futures & options (F&O) segment for February stood at Rs 45...

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Foreign institutional investors dump debt, bulk up on equity, shows data

Global investors’ strategy on Indian stocks and bonds is diverging. They bought $5.5 billion worth of Indian shares this year, among the highest in emerging Asian economies, while selling $1.8 billion worth rupee-denominated bonds. Double-digit growth forecasts are luring foreigners to Indian stocks, said ...

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GLOBAL CORPORATE

Apple faces UK antitrust investigation into App Store

UK antitrust authorities said they plan to investigate Apple Inc.’s App Store to probe whether it is abusing its market power to restrict competition. The Competition and Markets Authority said it plans to investigate Apple’s potentially “dominant” position in the supply of apps on iPhones and iPads. “C...

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Lufthansa sees delayed recovery after $8.1 billion record loss

Deutsche Lufthansa AG posted a record 6.7 billion-euro ($8.1 billion) annual loss and said it will take longer than previously anticipated to achieve a full recovery from the coronavirus crisis. Europe’s biggest airline group said Thursday it will struggle to make money on flights before the end of this ye...

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Apple-supplier Foxconn flags strong start to year as lockdowns spur electronics demand

Apple supplier Foxconn said it expects first-quarter revenue to rise more than 15 percent from a year earlier, boosted by strong iPhone sales and robust demand for electronics during lockdowns worldwide to curb the COVID-19 pandemic. The world's largest contract electronics manufacturer has previously fore...

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INCOME TAX

Relief to NRIs facing double taxation: Information to be submitted by this date

The Central Board of Direct Taxes (CBDT) has received various representations requesting for relaxation in the determination of residential status for the previous year 2020-21 from individuals who had come on a visit to India during the previous year 2019-20 and intended to leave India but could not do so du...

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‘Software tax’: SC ruling to force tax dept to cough up a tidy sum

The revenue-starved government will have to cough up tens of thousands of crores of rupees over the next few months towards honouring the claims of refunds of the 10% ‘royalty tax’ to scores of non-resident software suppliers to Indian companies, following Tuesday’s Supreme Court (SC) ruling, tax experts said...

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RBI

RBI announces simultaneous bond buy, sale on March 10

The Reserve Bank of India (RBI) on March 4 said it will conduct simultaneous purchase and sale of government bonds on March 10 under the so-called Open Market Operations (OMOs). OMOs refer to purchase or sale of government bonds by the central bank. “On a review of current liquidity and financial condition...

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Banking

ICICI, HDFC, SBI will have to offload Rs 1.2 lakh cr if RBI caps stake in insurance arms: Report

Just State Bank of India, HDFC and ICICI Bank will have to offload equity worth Rs 1.21 lakh crore if the central bank goes ahead with its reported plan to make banks cap their stakes in insurance arms at 20 per cent, says a report. Quoting unnamed RBI officials, a media report earlier this week said the m...

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GLOBAL ECONOMY

Trade Report
Country Month Link
Switerzland July 2019 Click
Inflation rise expectation, long-term borrowing show US markets at risk

Stocks fell with US futures on Thursday as traders awaited remarks from Federal Reserve Chairman Jerome Powell following a renewed bout of bond volatility. Treasury yields stabilized. The Stoxx 600 Index slipped 0.7%, dragged l...

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South Korea economy shrank in 2020 for first time in over two decades

South Korea's central bank says the country's economy shrank for the first time in 22 years in 2020 as the coronavirus pandemic destroyed service industry jobs and depressed consumer spending. Preliminary data released by the B...

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Global air cargo demand recovers to pre-Covid levels: Global body IATA

The International Air Transport Association (IATA) has released January data for global air cargo markets showing that demand returned to pre-Covid levels for the first time since the onset of crisis. January demand also showed...

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World food price index rises in February for ninth month running - FAO

World food prices rose for a ninth consecutive month in February, hitting their highest level since July 2014, led by jumps in sugar and vegetable oils, the United Nations food agency said on Thursday. The Food and Agriculture ...

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China charges ahead with a national digital currency

Annabelle Huang recently won a government lottery to try China’s latest economics experiment: a national digital currency. After joining the lottery through the social media app WeChat, Huang, 28, a business strategist in Shenz...

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INDIAN CORPORATE

Rival telcos' deft moves in spectrum auction may compound Voda Idea's woes: Report

The positioning of Vodafone Idea which picked up modest 11.80 MHz spectrum - could potentially "worsen" as rival telcos will be able to boost their coverage and capacity after buying additional radiowaves in the just-concluded au...

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Walmart’s Flipkart explores US listing with SPAC as option; likely to seek at least $35B valuation

Walmart Inc.’s Flipkart is exploring going public in the U.S. through a merger with a blank-check company as it seeks to quicken its listing process, according to people familiar with the matter. The Bengaluru-based online retaile...

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ArcelorMittal plans new steel unit in Odisha, to invest Rs 50,000 crore

India-born billionaire Lakshmi Mittal is revisiting a plan to set up a large greenfield steel plant in the mineral-rich Odisha. ArcelorMittal-Nippon Steel India (AM/NS India), a 60:40 joint venture between world’s largest steelmak...

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Big Bet: Wipro buys British consultancy firm Capco in $1.45-billion deal

In what will be its biggest acquisition, software services giant Wipro said on Thursday it would buy privately-held British consultancy firm Capco for $1.45 billion. The Azim Premji promoted firm said the acquisition would it c...

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COMMERCIAL LAW

FDI equity inflows rise 40% to $51.5 billion during April-December 2020

Defying the Covid-induced disruptions, foreign direct investment (FDI) in equities in India surged 40% in the first three quarters of this fiscal to a record $51.5 billion. Gross FDI inflows — which include FDI in equities, rei...

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GST

GST Amnesty: SC refuses to direct finance ministry to extend scheme

The Supreme Court on Thursday refused to direct the finance ministry to extend the goods and services tax (GST) amnesty scheme till the Covid -19 pandemic exists in India, saying it was “a policy decision exclusively within the domain of the government”. A Bench led by justice DY Chadrachud rejected one Bi...

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SEBI

Sebi puts in place procedure for change in control of AMCs

Markets regulator Sebi has put in place a procedure for change in controlling interest of asset management companies and issued guidelines for new sponsors of mutual funds. This comes after Sebi, in February, relaxed profitabil...

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