Read daily news briefs on the economic issues collected from different sources.
The Adani Takeover of NDTV: Although the cover of the 2020 SEBI order barred promoters from selling shares in the company, the 2009 pact of NDTV with Vishvapradhan Commercial Pvt Ltd (VCPL) leaves a room for the hostile takeover bid for NDTV by Adani Group. [BL]
Supreme Court (SC) prima facie agreed to review the Prevention of Money-Laundering Act (PMLA). It will reconsider the two aspects i.e., first, the enforcement case information report (ECIR) which deprives an accused to get a copy of case information, and second, the transfer of the burden of proof of innocence into the accused shoulders. [BL]
According to the latest report of the National Family Health Survey (NFHS-5), 74% of the urban population is under the two highest wealth quantile living in Chandigarh, Delhi, and Punjab while 54% of the rural population falls under the two lowest wealth quantile Jharkhand, Bihar, Assam, Odisha, and West Bengal. [BL]
The credit growth rate (year-on-year) of the scheduled commercial banks has accelerated to 14.2% in the second quarter while the deposit rate remained under the range of 9.5-10.2%. [BL]
Bharti Telecom, the promoter firm of Bharti Airtel is set to acquire 3.33% stakes in Bharti Airtel which it will buy from Singapore’s Singtel for $1.61 billion. [BS]
Google has removed over 2000 loans app from its India play store. Those apps are removed over the violation of terms, misrepresentation of information, and questionable offline behaviour. [BS]
India’s drug pricing authority has bought the key diabetes drugs under price control [ET]
Delhi high court rejects the plea of WhatsApp and Meta against the policy probe which had been initiated by the Competition Commission of India (CCI) against the new privacy policy of the companies. [ET]
Editor:
Alok Aditya (Junior Research Fellow at ISEC)
Note: BL – Business Line, BS – Business Standard, FE – Financial Express, ET – Economic Times