LIVE: I-T refunds worth Rs 1.36 trn issued to 4 mn taxpayers till Nov 17

CBDT issues refunds of over Rs 1,36,066 crore to more than 4.019 million taxpayers between 1st April, 2020 to 17th November
The Income Tax department on Wednesday issued refunds worth over Rs 1.36 trillion to over 4 million taxpayers so far this financial year. This includes Personal income tax (PIT) refunds amounting to Rs 35,750 crore and corporate tax refunds of over Rs 1 trillion during this period.

The Supreme Court today deferred the hearing of petitions seeking an extension of loan moratorium and waiver of interest on interest on term loans during the six-month Covid-19 moratorium period. On November 5, a three-judge bench of the apex court, headed by Justice Ashok Bhushan deferred the hearing to November 18, after the Additional Solicitor General (ASG) Venkatraman sought adjournment in the hearing, stating that the Solicitor General (SG), Tushar Mehta, was arguing in Central Vista case in another bench.

Amid the rise in Covid-19 cases in the NCR, particularly in the national capital, authorities in Noida have decided that people coming from Delhi to Noida will be randomly tested for the virus from today onwards.

Delhi University's new academic session commenced today.

Stay tuned for the latest news of the day.

LIVE UPDATES

Canada's Intact, Denmark's Tryg agree to buy British insurer RSA for $9.6 billion

Canada's Intact Financial and Denmark's Tryg on Wednesday said they had reached an agreement to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) in cash in one of Europe's biggest financial takeovers this year.


Insurers have become an attractive proposition since the coronavirus crisis despite reputational damage from disputes over business interruption claims, industry sources say. Home-working has led to fewer claims on home and motor insurance while commercial insurance rates have risen sharply.


RSA's directors backed the Intact-Tryg bid unanimously and recommended shareholders vote in favour of the consortium's offer, the company said on Wednesday, having first flagged the approach early this month.

Ericsson takes issue with Swedish ban on Huawei : Report

Sweden's decision to ban China's Huawei from its 5G networks restricts free competition and trade, the head of rival telecoms equipment supplier Ericsson told the Financial Times. Swedish telecoms regulator PTS this month halted 5G spectrum auctions after a court suspended parts of its decision that had excluded Huawei from 5G networks over national security risks.


"I belong in that category that believes competition makes us longer term a better company. It may be painful shorter term but longer term it drives us to be more innovative and make better products for our customers," Ericsson CEO Borje Ekholm told the newspaper. Sweden's Ericsson has won contracts from all three major operators in China to supply radio equipment for 5G networks, while Finnish rival Nokia has not won any 5G radio contracts in the highly competitive market.


Huawei denies being a national security risk and has appealed against Sweden's decision.

Delhi govt may introduce new tax reforms, enforcement measures in near future: Sisodia

The Delhi government may introduce new tax reforms and enforcement measures in the near future, Deputy Chief Minister Manish Sisodia said on Wednesday after signing of an MoU with the Centre for Effective Governance of Indian States (CEGIS) for a study on measures to augment state revenue.

The study aims to help improve governance and public service delivery in Delhi while making tax compliance easy, Sisodia, who is also the finance minister, said.

Kerala Government to approach the Supreme Court challenging the high fee structure set by self-financing medical colleges


IndiGo resumes over 650 weekly flights to and from Uttar Pradesh

IndiGo on Wednesday said it has resumed more than 650 weekly flights to and from Uttar Pradesh. The low-cost carrier has resumed operations from four cities in Uttar Pradesh -- Lucknow, Varanasi, Prayagraj and Gorakhpur, it said in a release. "The airline witnessed highest air travel demand from Lucknow which is directly connected to 13 domestic destinations, including new direct flights to Indore and Raipur.



"In addition, IndiGo also operated approximately 300 Vande Bharat and Air Bubble flights connecting UP with Dubai, Doha, Sharjah, Jeddah, Kuwait, Dammam, Riyadh and Abu Dhabi," it said. According to the release, the airline is currently operating over 650 weekly flights, including the regional connectivity scheme routes, to and from the cities of Lucknow, Varanasi, Prayagraj and Gorakhpur.

Delhi's air quality deteriorates to 'poor', no significant change likely

Delhi's air quality deteriorated marginally and was recorded in the "poor" category on Wednesday as a change in the wind direction increased the share of stubble burning in the city's pollution slightly.
 
The city's air quality index (AQI) was recorded in the "moderate" category in the morning. However, pollution levels increased by a bit as the day progressed. The 24-hour average AQI stood at 211. It was 171 on Tuesday.
 
An AQI between zero and 50 is considered "good", 51 and 100 "satisfactory", 101 and 200 "moderate", 201 and 300 "poor", 301 and 400 "very poor", and 401 and 500 "severe". Weather experts and government agencies said no significant change was likely in the next three to four days. READ ON...

Bengaluru riots: NIA conducts searches at 43 locations, including at SDPI offices

The NIA conducted searches here on Wednesday, including at offices of the Social Democratic Party of India (SDPI), the political wing of the Popular Front of India (PFI), in connection with the rioting and violent attacks on police stations in the city in August, an official said.
 
The searches were carried out at 43 locations in Bengaluru, including at four offices of the SDPI, in relation to the rioting and violent attacks on the D J Halli and K G Halli police stations in Bengaluru on August 11, a National Investigation Agency (NIA) spokesperson said.
 
The cases pertain to large-scale rioting, causing injuries to police personnel, destruction of public and private property, including the police stations' buildings and public and private vehicles, he said, adding that the rioters were armed with lethal weapons.

NGT raps Haryana govt for using forest land to build police training centre

The National Green Tribunal Wednesday rapped the Haryana government for using forest land todevelop a police training centre at Bhondsi in Gurgaon. A bench headed by NGT Chairperson Justice Adarsh Kumar Goel directedChief Secretary of Haryana to take appropriate remedial action in accordance with law within three months, including meaningful legal action against the erring officers and ensuring that such illegalities are not repeated.
 
There is blatant violation of law in using forest land for non-forest purposes without requisite prior clearance. No State governed by rule of law ought to shut its eyes to such patent illegalities, the bench said.
 
The tribunal was perusing a report filed byPrincipal Chief Conservator of Foreststhat there is no negligence on the part of the forest officers as correspondence was pending on the subject at different levels. READ ON...

98% rape accused in Delhi close relatives, acquaintances of victims: Police to parliamentary panel

Almost all of those accused of rape knew their victims, Delhi police told a parliamentary panel on Wednesday. Making a presentation before the Parliamentary Standing Committee on Home Affairs on the heinous crime and the relationship between victims and accused, police said 98 per cent of rape victims in the national capital were either close relatives or acquaintances of the accused.
 
Along with the Delhi Police, officials of the Ministry of Home Affairs and the Ministry of Women and Child Development deposed before the panel, headed by Congress MP Anand Sharma, sources said.
 
The agenda of the panel's meeting was rising crime against women. In 44 per cent of the total rape cases in Delhi, the accused were from victim's family or a family friend, 13 per cent were relatives and 12 per cent neighbours, Delhi Police said.

Sasikala pays Rs 10 crore fine, release expected; TN CM says AIADMK will be away from her

A fine of over Rs 10 crore imposed on late Chief Minister J Jayalalithaa's aide V K Sasikala in a disproportionate assets case was on Wednesday deposited in a Bengaluru court and her release is expected soon, her lawyer said.
 
Chief Minister K Palaniswami, meanwhile, asserted that the anticipated release of Sasikala would not alter the stand of AIADMK to keep her and her kin at bay, both from the party and the government.
 
There shall be no change in the party stand as regards Sasikala, he told reporters at Coimbatore. The fine amount of Rs 10,00,10,000 was remitted to the 34th City Civil Court, Bengaluru, by way of demand drafts, Sasikala's counsel N Raja Senthoor Pandian said.

Tata-Mistry tussle: SC to hear final arguments on December 2

The Supreme Court Wednesday listed for final hearing on December 2 the cross appeals filed by Tata Sons and Cyrus Investments against appellate tribunal NCLAT's order which had restored Cyrus Mistry as the executive chairman of the over USD 100 billion salt-to-software Tata conglomerate.
 
A bench headed by Chief Justice S A Bobde questioned senior advocate C A Sundaram, appearing for Cyrus Mistry and his firms, for filing applications repeatedly when the case was already listed for final hearing.
 
Why are you filing IAs (interlocutory applications)after IAs when the matter is already listed for final hearing, said the bench, also comprising Justices A S Bopanna and V Ramasubramanian, asked Sundaram. When Sundaram said they want to bring something new to the apex court's notice, the bench said, Won't these issues be covered in the final hearing? All the issues which you are raising in these IAs can be taken up during the final hearing. READ ON...

Forest Rights Act being implemented in Jammu and Kashmir

The Forest Rights Act is being implemented in Jammu and Kashmir as efforts are afoot to grant and safeguard the rights of forest dwellers and communities as per the Act of 2006. The deadline for completing 'Record of Forest Rights' has been set for March 31, 2021, officials said on Wednesday.
 
An official statement said Chief Secretary B.V.R. Subrahmanyam chaired a meeting earlier on Wednesday to review the implementation of the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006, and Rules in Jammu and Kashmir which have been made applicable post enactment of the Jammu and Kashmir Reorganization Act, 2019.
 
"Work on this had already begun by the Departments of Tribal Affairs, and Forest, Ecology and Environment in October, 2020," the statement said.

Latest News LIVE: Stubble burning continues in parts of Punjab

Several farmers continue to burn stubble near Jalandhar's Phillaur area in Punjab, on Wednesday.
 
"We are helpless, we don't have any option. The government doesn't help us or provide any kind of subsidy," says a farmer.
 
Stubble burning is a process of setting on fire the straw stubble, left after harvesting of grains, like paddy, wheat etc takes place.
 
The process of burning farm residue is one of the major causes of air pollution in parts of north India, deteriorating the air quality around this time of the year. Combing with vehicular emission, it adversely affects the Air Quality Index (AQI) in the national capital, keeping it between 'very poor' to 'severe' category.

Air quality 'poor' in Noida, Ghaziabad, 'moderate' in Gurgaon, Faridabad

The air quality in Noida, Greater Noida and Ghaziabad slipped into the "poor" zone on Wednesday, while it was recorded in the "moderate" category in Faridabad and Gurgaon in the National Capital Region (NCR), a government agency said. The concentration of major air pollutants, PM 2.5 and PM 10, remained high in the five immediate neighbours of Delhi, according to the air quality index (AQI) maintained by the Central Pollution Control Board (CPCB).
 
According to the index, an AQI between zero and 50 is considered 'good', 51 and 100 'satisfactory', 101 and 200 'moderate', 201 and 300 'poor', 301 and 400 'very poor', and 401 and 500 'severe'.
 
The average 24-hour AQI at 4 pm on Wednesday was 236 in Ghaziabad, 207 in Noida, 228 in Greater Noida, 172 in Faridabad and 141 in Gurgaon, according to CPCB's Sameer app. The average AQI on Tuesday was 166 in Ghaziabad, 172 in Faridabad, 178 in Noida, 186 in Greater Noida and 204 in Gurgaon.

Uttar Pradesh rape victim who attempted self-immolation dies in Delhi hospital

A rape survivor who allegedly attempted self-immolation after being pressurized by the accused's family to withdraw her complaint in Uttar Pradesh's Jahangirabad, passed away at a hospital in Delhi on Wednesday.
 
"We have collected all evidence from the scene. Five of the seven accused have been arrested. Efforts are on to nab the other accused," said Santosh K Singh, Senior Superintendent of Police (SSP).
 
A local court has sent the five accused to 14-day judicial custody, after they were arrested earlier today. The woman on Tuesday attempted to set herself on fire here after she was allegedly pressurized to withdraw her complaint against a man who was arrested for allegedly raping her.

PM Narendra Modi to inaugurate Bengaluru Tech Summit on November 19

PM Narendra Modi would inaugurate Karnataka's flagship annual technology event - Bengaluru Tech Summit 2020 (BTS2020) - on Thursday via video-conferencing. The event is to take place from November 19 to 21.
 
It is being organised by the government of Karnataka along with Karnataka Innovation and Technology Society, the state government's Vision Group on information technology, biotechnology and startup, and Software Technology Parks of India.
 
"We have made elaborate arrangements to make BTS a grand success as the event sessions are going 100 per cent virtual," Deputy Chief Minister and the Minister for IT, BT and S&T C N Ashwath Narayan said after visiting the BTS2020 facilitating centre set up.

Delhi govt to reduce Yamuna's pollution by 90% by March 2023

Chief Minister Arvind Kejriwal on Wednesday said the Delhi Jal Board will reduce the pollution load in the Yamuna by 90 per cent by March 2023. At a review meeting, DJB officials presented a detailed plan to Kejriwal and Water Minister Satyendar Jain in this regard.
 
Major interventions include treatment of around 150 MGD polluted water coming from Haryana and Uttar Pradesh using natural wetlands and the aeration method.
 
"Second, the wastewater in small and big drains will be tapped into sewage treatment plants. Third, steps will be taken to improve the quality of the existing STPs, including upgrading all the equipment and using innovative processes," a DJB statement said.

LIVE: I-T refunds worth Rs 1.36 trillion issued to 4 million taxpayers till Nov 17

The Income Tax department has issued refunds worth over Rs 1.36 trillion to over 4 million taxpayers so far this fiscal. This includes Personal income tax (PIT) refunds amounting to Rs 35,750 crore and corporate tax refunds of over Rs 1 trillion during this period.
 
CBDT issues refunds of over Rs 1,36,066 crore to more than 4 million taxpayers between 1st April, 2020 to 17th November, 2020. Income tax refunds of Rs 35,750 crore have been issued in 38,23,304 cases and corporate tax refunds of Rs 1,00,316 crore have been issued in 1,95,518 cases, the I-T department tweeted.

Vedanta Group submits EOI to buy government's entire stake in BPCL

Anil Agarwal-led Vedanta Group said on Wednesday that it has submitted an expression of interest (EoI) for buying the government's 52.98 per cent stake in Bharat Petroleum Corporation (BPCL).
 
“Vedanta’s EoI for BPCL is to evaluate potential synergies with our existing oil and gas business. The EoI is at a preliminary stage and exploratory in nature,” said a company spokesperson. At least three to four players have reportedly submitted EoIs for the privatisation process of BPCL, once the deadline got over on Monday. The sale of BPCL stake is crucial to meet the divestment target of Rs 2.1 trillion for the current fiscal year. According to reports, other than Vedanta, some private equity funds and/or pension funds have also put in EoIs. READ ON...

Iqbal Mirchi's Rs 500-cr worth assets forfeited under anti-smugglers and narco law: ED

Three properties of late gangster Iqbal Mirchi in Mumbai, worth about Rs 500 crore, have been "forfeited" under the provisions of two central laws against smugglers, foreign exchange manipulators and narcotic operatives, the Enforcement Directorate said on Wednesday. It said the immovable assets named --Rabia Mansion, Mariam Lodge and Sea View-- are located in the Worli area of Maharashtra's capital city.
 
Mirchi wasallegedly the right-hand man of global terrorist Dawood Ibrahim in drug trafficking and extortion rackets.
 
The order for seizure of properties was issued by the competent authority for SAFEMA(Smugglers and Foreign Exchange Manipulators Act)and NDPS (Narcotic Drugs and Psychotropic Substances)on November 9 based on "evidence gathered" against Mirchi and his associates by the ED.

Covid-19 cases in Delhi increasing, but there are enough beds available now: Delhi CM

Markets end at fresh high, Sensex closes above 44,000 for first time

The BSE Sensex and the Nifty50 on the National Stock Exchange (NSE) hit fresh all-time highs on Wednesday, before settling at record closing levels.
 
Sensex touched an all-time intra-day high of 44,215.49 points during the fag end of the trade as the market rebound after a choppy first half. It closed above the 44,000-mark for the first time in its history, settling at 44,180.05, higher by 227.34 points or 0.52 per cent from its previous close of 43,952.71 points.
 
The Nifty50 closed at 12,938.25, higher by 64.05 points or 0.5 per cent from its previous close. Healthy buying was witnessed in banking and auto stocks. The top gainers on the Sensex were Mahindra & Mahindra, Larsen & Toubro and IndusInd Bank, while the major losers were Hindustan Unilever, ITC and Titan Company.

72 students of 12 govt schools in Haryana's Rewari test Covid-19 positive

Punjab govt to launch scheme to empower physically challenged

In a bid to empower persons with disabilities, the Punjab Cabinet on Wednesday approved a new scheme -- 'Punjab Divyangjan Shaktikaran Yojna' (PDSY), to be implemented in a phased manner across the state.
 
The first phase of the scheme will involve strengthening the existing programmes to ensure that their benefits reach the persons with disabilities in a more effective manner, while in the second phase 13 new interventions are proposed to be undertaken for the empowerment of such persons. A decision to this effect was taken in a virtual cabinet meeting chaired by the Chief Minister Amarinder Singh.
 
The scheme, envisaged by the Social Security and Women and Child Development Department, is aimed at providing a barrier-free environment to persons with disabilities in a phased manner, by making government and public-centric buildings, public transportation and websites accessible to them.

57% Bihar ministers have declared criminal cases against them: Report

Eight of the 14 newly sworn-in ministers in Bihar have declared criminal cases against themselves, according to the Association for Democratic Reforms (ADR). Six (43 per cent) of the ministers have declared serious criminal cases against themselves, according to the poll rights group. Serious criminal cases are non-bailable offences with over five years of imprisonment.
 
Affidavits of two out of six ministers analysed from the JD(U), four out of six ministers analysed from the BJP, one minister analysed from the Hindustani Awam Morcha (Secular) and one from the Vikassheel Insaan Party show criminal cases against them, it said.
 
Eight or 57 per cent of the ministers face criminal cases. As many as 13 (93 per cent) are crorepatis with their average assets pegged at Rs 3.93 crores, the report said.

Indian national, who crossed over to Pak illegally, handed over to BSF

An Indian national, who had illegally crossed over to Pakistan in 2016 and underwent four years of imprisonment here, was on Wednesday handed over to the Border Security Force (BSF) personnel at the Wagah Border. Panwasi Lal, son of Kundan Lal, arrived at the Lahore railway station in August 2016 by Samjhauta Express without travel documents and was arrested.
 
Initially, he told the police that his name was Mohammad Aslam and he was a Pakistani. A sum of Rs 500 was recovered from him.
 
During interrogation, it was revealed that his real name was Panwasi Lal and he was not mentally stable. The matter was taken up with the Indian authorities as to how he reached the Lahore railway station without travel documents. He was later imprisoned in the Central Jail Lahore for four years on charges of illegal border crossing. On Wednesday, the Punjab Rangers handed Panwasi over to the BSF at Wagah.

Coronavirus LIVE: 45 doctors, 160 paramedics from CAPFs reach Delhi

A group of 45 doctors and 160 paramedics from Central Armed Police Forces (CAPFs) have reached the national capital as an additional central support to the Delhi government to tame the rising Covid-19 infections that have pushed the hospitals here to their brink.
 
The move comes three days after Union Home Minister Amit Shah took stock of Covid-19 situation in the city in presence of Delhi Chief Minister Arvind Kejriwal.
 
Among many steps taken after the meeting held by Shah on November 15 on Delhi Covid, Home Ministry Spokesperson Nitin Wakankar in a series of tweets informed that "already 45 doctors and 160 para-medics from CAPFs have reached Delhi for deployment at the DRDO (Defence Research and Development Organisation) hospital near Delhi airport and at Covid care centre at Chhatarpur".
 
"Remaining doctors and medics to reach Delhi in next few days," the Spokesperson said.

Delhi LG orders removal of debris from Yamuna floodplains, setting up of CCTV surveillance mechanism

Delhi Lt Governor Anil Baijal on Wednesday issued directions for the removal of debris from the Yamuna floodplains on "top priority" and establishing a CCTV camera-based surveillance mechanism for its protection. Baijal, who is also the chairman of the Delhi Development Authority, gave the directions while chairing a meeting of the DDA to review the progress of work for restoration and rejuvenation of the Yamuna riverfront.
 
The floodplains of Yamuna are a fragile ecological zone and the DDA takes action from time to time to remove encroachments, if any, in the area.
 
"Directed removal of malba on top priority, CCTV camera based surveillance for protection of floodplains," he said.

Noida on alert, police checks intensified after suspected terrorists held in Delhi

The Gautam Buddh Nagar police has stepped up vigilance and intensified checks at its borders with Delhi following the arrest of two suspected terrorists in the national capital, officials said on Wednesday. The Special Cell of Delhi Police had on Monday night held two suspected Jaish-e-Mohammed (JeM) operatives near Sarai Kale Khan.
 
Additional Deputy Commissioner of Police Ranvijay Singh said Noida shares its borders with Delhi and following such developments, the security is beefed up and checkings intensified. We get information through the press as well as at the department level about such happenings in nearby places and, accordingly, step up security, Singh said. We usually have security posts at border points and intensify them upon getting alerts like these (terrorists' arrest in Delhi), he said.

Amazon opens 'made in India' toy store amid Centre's self-reliance mission

In line with government's "Atmanirbhar Bharat" vision, Amazon India on Wednesday launched a toy store where sellers from 15 Indian states will showcase thousands of unique toys across categories like traditional, handmade and educational.
 
The launch of the "made in India" toy store could help local manufacturers to take on the deluge of Chinese toys into the Indian market.
 
Amazon.in said that the store will enable thousands of manufacturers and sellers to sell locally designed and manufactured toys, inspired by Indian culture, folk tales as well as toys that encourage scientific thinking and innovation. READ ON...

Farmers near Jalandhar's Phillaur in Punjab continue to burn stubble

PM Modi to release commemorative coin on Lucknow University centenary on Nov 25

Lucknow University will become the third Indian varsity after Mysore University and Banaras Hindu University to have a commemorative coin of Rs 100 issued on its centenary year. The coin will be released by Prime Minister Narendra Modi, who will virtually join the varsity's foundation day celebration on November 25.
 
He will also release a coffee table book and stamp on the occasion.
 
The coin has been minted at the government mint in Mumbai and would be an asset in Lucknow University's treasure trove. The coin has been hammered out of silver, bronze, copper and nickel.

Vedanta puts in expression of interest to buy govt stake in BPCL

Vedanta Group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying government's stake in Bharat Petroleum Corp Ltd (BPCL). Vedanta's interest in India's second largest fuel retailer is because of synergies with its existing oil and gas business. The government is selling its entire 52.98 per cent stake in BPCL and last date of putting EoI was November 16.
 
"Vedanta's EoI for BPCL is to evaluate potential synergies with our existing oil and gas business," the company spokesperson said in a statement. "The EoI is at a preliminary stage and exploratory in nature."
 
The government had at the close of bidding stated that "multiple" EoIs had been received. It, however, did not reveal the identity of the bidders.

Lakshmi Vilas Bank customers express distress as it's placed under moratorium for 30 days

Supreme Court’s CJI SA Bobde led bench reserves orders in plea by BSF Jawan, challenging Narendra Modi's election from Varanasi in 2019


Kangana Ranaut and Rangoli Chandel summoned by Mumbai police over objectionable comments on social media

Kangana Ranaut and Rangoli Chandel summoned by Mumbai police over "objectionable comments on social media to spread communal tension between groups." Case registered following Bandra Metropolitan Magistrate court order.

Varavara Rao's bail plea: Rao is suffering from multiple organ failure, says advocate Jaising

Jaising : Send him (Varavara Rao) to Nanavati and treat him. He is already suffering from multiple organ failure

Varavara Rao's bail plea: Jaising submits that Varavara Rao is being looked after by his co-accused in the jail

Jaising submits that Varavara Rao is being looked after by his co-accused Vernon Gonsalves and Arun Ferreira who are not medically trained. The family has been kept in the dark about his health . The Taloja jail hospital is incapable of taking care of him.

Bombay High Court starts hearing Varavara Rao's bail application on medical grounds

Senior Advocate Indira Jaising is appearing for the petitioner.

Loan moratorium case: Bench has assembled

Bench has assembled but goes on to pass over the case.

On the last date of hearing, RBI had informed top court that it was facing difficulties

On the last date of hearing, RBI had informed top court that it was facing difficulties due to the interim order which had imposed restrictions on classifying those accounts as NPA’s which were not classified thus as on August 31, 2020.

Supreme Court’ will today take up pleas seeking extension of loan moratorium and waiver of accruing interest

Supreme Court’s Justice Ashok Bhushan led bench will today take up plea(s) seeking extension of the Covid19 induced loan moratorium & waiver of accruing interest.

US election result 2020: Michigan just refused to certify the election results, says Trump

Loan moratorium case: RBI says banks, NBFCs have been asked to take 'necessary actions'

Earlier, the RBI had filed the affidavit saying that it has asked all banks, financial and non-banking financial institutions to take "necessary actions" to credit into the accounts of eligible borrowers the difference between compound and simple interest collected on loans of up to ₹2 crore during the moratorium scheme.
 

Didn't conspire with anyone" to delay release of efficacy results for the Covid-19 vaccine, says Pfizer

Pfizer Inc "didn't conspire with anyone" to delay release of efficacy results for the Covid-19 vaccine it developed with German partner BioNTech SE until after the U.S. presidential election, Chief Executive Albert Bourla said on Tuesday.
 
"The elections were always for us an artificial line. It may have been very important for the president but not for us," Bourla said at New York Times event. "I didn't receive any pressure per se on me to do something that was not appropriate ... I would never do something like that," he said.
 
Last week, Pfizer and BioNTech said their vaccine was more than 90% effective at preventing Covid-19, based on an initial analysis. Read on...

Loan Moratorium Case: Supreme Court to hear case today

The Supreme Court will hear a batch of pleas relating to charging of interest on interest by banks on EMIs which were not paid by the borrowers who availed of the RBI loan moratorium scheme in view of the Covid-19 pandemic. 

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel