Red Corner Notice (RCN) has been issued by Interpol against fugitive diamantaire Nirav Modi's brother Nehal Deepak Modi in connection with a money laundering case. It is alleged that Nehal had set up entities to launder money which was received by Niral Modi.

Forty-year-old Nehal was born in Belgium and is now under the scanner in connection with the case. Nehal is based out of New York City. Investigations revealed that he was director of now defunctFirestar Diamonds USA.

The Ministry of Electronics and Information Technology on Friday constituted a committee under the chairmanship of Infosys co-founder Kris Gopalakrishnan (pictured) to study issues related to non-personal data and suggest how the government should look at regulating it.

“There is a growing trend towards platformisation of the digital economy, and in such a platform economy, data could play a critical role as a community or public resource,” the ministry said.

A regulatory sandbox will help companies manage risk during the testing phase, which will enable more innovative ideas to be tested in the market, said the insurance regulator on Friday.

If such an idea becomes successful, it will be introduced in the market, said Sujay Banarji, member (distribution) at the Insurance Regulatory and Development Authority of India (Irdai).

New Delhi: Public sector lender Bank of Baroda on Friday said its capital raising committee will meet next week to consider raising funds through bonds.

"The capital raising committee (CRC) of whole time directors of the bank is scheduled to be held on September 18 to consider raising of debt capital for the bank through issuance of Basel III compliant tier II bonds /additional tier 1 bonds," the bank said in a regulatory filing.

Pune: Mahindra & Mahindra, India's biggest utility vehicle maker, on Thursday rolled out a subscription-based service for retail buyers of its personal range of cars to boost sales ahead of festive season and amid worst slowing demand.

Under this scheme, Mahindra's vehicles in Delhi (NCR), Mumbai, Pune, Bengaluru, Hyderabad, Kolkata, Chandigarh and Ahmedabad will be available at a subscription price starting from Rs 19,720 per month.

Oil and Natural Gas Corporation on Wednesday said it would invest more than Rs 13,000 crore in exploring oil and gas in Assam by drilling over 220 wells across the state in the next five years.

The company said in a statement that it has signed an MoU with the Assam government to enhance its exploration and production activities in the state.

Sebi on Thursday asked listed companies to settle their outstanding dues with the capital markets regulator, bourses and depositories before filing “schemes of arrangement” such as mergers and demergers with the exchanges.

The markets regulator also said listed entities will be liable for punitive action in case of furnishing any false information.

The government has set a tall divestment target of ₹1.05 trillion for FY20. Needless to say, it would need to sell stakes in some of the large public sector companies to achieve the target.

Here, state-run oil marketing and refining company, Bharat Petroleum Corp. Ltd (BPCL), seems to be on the radar.

The RBI on Thursday increased loan exposure limit of banks to a single NBFC (excluding gold loan companies) from 15 per cent to 20 per cent of its capital base, a move that will help increase credit supply to the crisis-ridden shadow banking sector.

According to the extant ‘Large Exposures Framework (LEF)’, banks’ exposure to a single non-banking financial company (NBFC) is restricted to 15 per cent of their available eligible capital base, while general single counter-party exposure limit is 20 per cent, which can be extended to 25 per cent by banks’ boards under exceptional circumstances.

The All India Online Vendors Association (AIOVA) claims that Amazon India has implemented a new ‘regional visibility programme’ that restricts products to regional zone visibility. Simply put, a Mumbai-based seller will not be able to sell products to customers in New Delhi unless they stock up inventory at Amazon’s fulfilment centres in New Delhi, an AIOVA spokesperson said.

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