Top 10 business headlines: E-commerce policy, illegal deposits, and more

1. Commodity arms of Motilal Oswal, IIFL not 'fit and proper': Sebi

Markets regulator the Securities and Exchange Board of India (Sebi) has declared Motilal Oswal Commodities Brokers (MOCB) and India Infoline Commodities (now IIFL Commodities) as ‘not fit and proper’ to conduct the commodity derivatives broking business directly or indirectly, as part of its action in the National Spot Exchange Ltd (NSEL) case. Read here

2. NBFCs could sell non-core assets worth Rs 15,000 crore, says CLSA

More non-banking financial companies ( NBFCs) could be forced to sell their non-core businesses as they grapple with funding challenges and solvency risks. Brokerage firm CLSA said NBFCs facing this double-whammy could off-load non-core assets worth Rs 15,000 crore-Rs 20,000 crore. More details here

3. We look forward to making India a $10-trillion economy, says PM Modi

Prime Minister Narendra Modi said his government had initiated a slew of economic and social measures that would make India the world’s third-largest economy at $10 trillion and the leader in areas such as electric vehicles and energy storage devices. Click here

4. E-commerce policy draft pushes for data protection; Chinese firms on radar

Protection of consumer data stands out as the dominant theme of the much-awaited e-commerce draft report released on Saturday. Prepared by the Department for Promotion of Industry and Internal Trade (DPIIT) along with a clutch of other ministries, the draft has granted the industry a three-year window for making a shift to the local data storage requirements. Read on

5. CBIC sets up three working groups to facilitate exports, curb tax evasion

Central Board of Indirect Taxes and Customs (CBIC) has constituted three Working Groups to study and recommend measures to facilitate trade, promote exports and improve compliance, the board said in a statement. Read more

6. Want to improve your credit score? Follow these steps to cross 750 mark

The credit score is perceived to be a reflection of one's capability to repay debt. While this is indeed true, your credit score also affects your personal financial life in far more ways, which makes it important that you do your best to improve and maintain it at a high level. Read on

7. New law against illegal deposits is tough, yet investors must remain alert

In the past, scams like Rose Valley and Saradha deprived thousands of investors of their hard-earned money. To curb the menace of illegal deposit raising, the government had introduced the Banning of Unregulated Deposit Schemes Bill in Parliament in July 2018. The Bill was subsequently referred to the Standing Committee on Finance. Recently it was passed by the Lok Sabha, but could not be passed in the Rajya Sabha. On the Cabinet's request, the President has promulgated the Bill as an ordinance. More details

8. Home rates dip in Delhi, unchanged in Mumbai

If you are in the market to buy a house, the cost of property in National Capital Region (NCR), Chennai, Bangalore and Kolkata have declined. Weighted average price across tier I cities dipped marginally by 1% as compared with a year ago and a decrease of 3% was observed in NCR and Chennai, while Bangalore and Kolkata witnessed a 2% drop, according to a report by Liases Foras Real Estate Rating & Research Ltd, a real estate advisory firm, according to a Livemint report.

9. CTTA’s January earnings up 39%

Tea market has opened 2019 on an encouraging note with the auctions of Coonoor Tea Trade Association (CTTA) posting an impressive increase of 39.06 per cent in earnings in January over January 2018, The Hindu BusinessLine reported.

10. Warren Buffett hints at share repurchase by Berkshire, finds prices high for a big acquisition

Legendary investor Warren Buffett on Saturday said among its economic trees (read diverse businesses), a few are diseased and unlikely to be around a decade from now. Many others, though, are destined to grow in size and beauty. He warned investors against owning businesses at sky high prices,  according to The Economic Times report

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