Author: Roshni Kumari

With the help of Sir Graham Brady, the chairman of the Conservative backbench 1992 Committee, Boris Johnson decided to resign from his role. Boris Johnson will quit as prime minister of the United Kingdom on Thursday, after a vote of no confidence from his cabinet and Conservative Party members who declared he was no longer able to lead. In the wake of the resignations of eight ministers, including two secretaries of state, a source claimed Johnson was on the verge of declaring his resignation later on Thursday. Downing Street announced that Johnson will speak to the nation later. A succession…

At 12:45 p.m the BSE share price of SpiceJet was down by 0.93% at Rs 37.30. On Wednesday, the price of a share of SpiceJet plunged as much as 7 percent, hitting a low point not seen in the previous year. The price of the airline’s shares on the BSE dropped to Rs 35, which is a new 52-week low. This happened in the wake of many mechanical issues that have been plaguing SpiceJet aircraft in recent weeks. SpiceJet’s share price was down 0.93 percent and was trading at Rs. 37.30 on the BSE at 12.45 o’clock in the afternoon.…

Officials said 44 locations were searched as part of a money-laundering probe into Vivo and other Chinese smartphone manufacturers. The Enforcement Directorate (ED) conducted raids on at least 44 locations around the nation on Tuesday as part of an investigation into allegations of money laundering involving the Chinese smartphone maker Vivo and affiliated businesses, according to the authorities. The searches were conducted at sites in several states, including Delhi, Uttar Pradesh, Meghalaya, and Maharashtra, by provisions of the Prevention of Money Laundering Act (PMLA). A spokesman for Vivo India said that the company is working along with the authorities. “Vivo…

The government is letting wheat shipments go out as long as irrevocable letters of credit (L/C) were issued on or before May 13, when the export ban on the food grain was put in place to keep prices from going up. In response to the prohibition order of May 13, the DGFT, an arm of the commerce ministry, has granted registration certificates for around 1.6 million tonnes of wheat to exporters with a valid letter of credit, an official has said. There are exceptions for L/Cs issued before May 13, when the export embargo on wheat was enforced to keep…

Fraud cases exceeding Rs 100 crore in public sector banks (PSBs) dropped from 167 to 80 in FY22, while those over Rs 100 crore for private sector lenders dropped from 98 to 38. More than Rs 100 crore in fraud in the banking industry was reported in 2021-22, although that’s a huge drop from the previous year’s Rs 1.05 lakh crore in reported instances. Official statistics show that the number of fraud cases in private and public sector banks decreased from 265 in FY 2020-21 to 118 in FY2022. There were 80 incidents of fraud exceeding Rs 100 crore in…

Elon Musk, the CEO of Tesla and SpaceX, finally broke his 10-day Twitter blackout on Saturday, revealing that he had been feeling a little bored during that time. Musk went on his longest “digital detox” from Twitter in over five years, allowing his over 100 million followers and the media to speculate about his whereabouts. The 22nd of June was the last time he tweeted before he stopped using the microblogging site, which he had been using to break news and help others. “Are you possibly feeling a little bit bored?” a tweet from Elon Musk Immediately after that, a…

Foreign portfolio investors (FPI) have been consistently selling shares in the Indian markets over the last nine to ten months owing to a variety of factors, one of which is the tightening of monetary policy. The falling value of the rupee, an appreciating dollar, and increasing bond rates in the United States have all contributed to a widening current account deficit. According to the most recent statistics from the National Securities Depository, foreign portfolio investors (FPIs) exported a total of Rs 50,203 crore worth of equity holdings from India during the month of June. Since the beginning of the last…

According to authorities, students throughout Chennai were sold illegally obtained pills from Mumbai. They were found with more than 600 pills and 100 syringes. On Thursday, investigators from the Chennai police department said they had broken up a three-member gang reportedly supplying addictive medications to college students and other individuals near Tambaram. They added that over 600 tablets and 100 syringes were confiscated from the suspects. According to the police, based on a tip that addictive pills were being distributed near college grounds and other areas in Tambaram, a special team was formed to apprehend the perpetrators following the directives…

The accused sexually assaulted the mother and her daughter when they were riding in a vehicle on the evening of June 24 in the Roorkee region of the Haridwar district in the state of Uttarakhand. The girl was six years old at the time. Two of the people who have been detained are suspected of having ties to a farmer’s organization. At the time when they committed the heinous murders, the suspects were under the influence of alcohol. On Thursday, SSP Yogendra Singh Rawat made the claim that he had solved the case of gang rape that occurred on June…

A hybrid note issued by Indiabulls Housing Finance in June 2012, with the option to redeem it 10 years later, contained features of both debt and equity. When interest rates rose at the quickest rate in at least two decades, one of India’s most prominent mortgage lenders, Indiabulls Housing Finance Ltd., opted not to redeem its rupee-denominated perpetual bonds. With an option to redeem them 10 years later, Indiabulls Housing Finance had issued the so-called hybrid notes, which possessed the features of debt and equity, in June 2012. Instead of returning the 10.6 percent notes on June 28, the business…