The Reserve Bank of India (RBI) has decided to crack the whip on banks’ statutory auditors whose certification of banks’ books has later been found to have lapses.

“In the interest of improving audit quality and with a view to instituting a transparent mechanism to examine accountability of statutory auditors (SA) in a consistent manner,

Even as speculation continues around the launch of WhatsApp Payments in India, the company seems to be at loggerheads with the authorities over storage and processing of user data. The company’s privacy policy specifies that users in the country should agree to their payments data being stored in the US and other countries.

New Delhi: Air India will not be sold during the remaining tenure of the Modi government and the process could be started afresh only after 2019 general elections, a top government source told Financial Chronicle.

The source, who is directly involved in the strategic disinvestment process of the loss-making carrier, said there is a broad thinking in the government to retain the ‘swadeshi’ tag for the national carrier and hence investment proposals from a foreign carrier would neither be pursued nor entertained.

The Congress on Thursday came out all guns blazing against the Modi Government and said that it is trying to politically exploit the surgical strikes by the Army against terror launch pads in Pakistan-occupied Kashmir (PoK) in 2016.

The party reacted after some TV channels telecast a video of the surgical strikes on Wednesday night. The Congress alleged that the surgical strikes were “shamelessly politicised” by the BJP for the March 2017 Uttar Pradesh Assembly elections.

NEW DELHI: Hyundai, the country’s second-biggest carmaker, has come out strongly against the removal of consumer benefits from electric cars and said the move will result in slowing down the pace of electrification.

Y K Koo, MD of Hyundai India, said that new technologies, especially the clean-fuel drivetrains, require government support as well as consumer subsidies to gain traction.

Mumbai: The findings of an investigation into Fortis Healthcare Ltd have exposed former promoters Malvinder Singh and Shivinder Singh to further legal trouble with Sebi initiating a forensic audit and the Serious Fraud Investigation Office (SFIO) suspecting fraud, two people with direct knowledge of the matter said.

Congresswoman Pramila Jayapal, the first Indian-American woman to be elected to the US House of Representatives, has been arrested here during a protest against the Trump administration’s “inhumane” “zero-tolerance” border policy.

The administration’s controversial “zero tolerance” policy of separating immigrant parents and their children on the US border resulted in the separation of nearly 2,000 children from their parents and guardians, sparking a public outcry.

Reversing a two-session slide, the benchmark BSE Sensex rose over 200 points and the Nifty reclaimed the 10,600-mark in early trade on Friday on fresh buying by investors as the July derivatives contracts started on a strong note amid recovery in the rupee.

The 30-share Sensex bounced back by 200.13 points, or 0.57 per cent, at 35,237.77.

Amid reports that insurance behemoth LIC is likely to pick up a majority stake in the state-run IDBI Bank, the board of insurance regulator IRDAI will meet on Friday. The meeting may see discussion on issues such as hike in investment limit for a particular insurance firm beyond 15 percent in the interest of policyholders, PTI reported. An insurance firm can’t hold over 15 percent stake in the listed financial companies currently, according to existent norms.

Telecom Commission, the highest decision-making body in the Department of Telecommunications (DoT), is expected to meet on Friday and take up the National Digital Communications Policy (NDCP), which charts the road map for development of the telecom and digital space.

Sources said the meeting of the Telecom Commission will review the NDCP among other issues including some additions to the public Wi-Fi project by the DoT.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.