Issue No: 21
Moneta
July 2017
NEWS SNIPPETS
1.
Mallya has ceased to be the
company's
director
following
market regulator SEBI's order
against him. Earlier this year,
SEBI restrained Mallya from
holding director or key managerial
personnel position at any listed
company that
hasn't
been
vacated till date. Notably, Mallya,
who left for UK in 2016, owes
₹9,000 Cr. to banks.
FM Jaitley launches new
exchange-traded
fund
'Bharat 22'
Finance Minister Arun Jaitley on
Friday launched 'Bharat 22'
exchange-traded-fund (ETF) to
divest government assets in 22
state-run and private firms. The
fund will have a diversified
portfolio of companies from six
sectors with a 20% cap on each
sector and a 15% cap on each
stock. ICICI Prudential will
manage the fund, he added.
2.
4. Unusual deposits of 1.7
lakh Cr. detected during
note ban
The 'unusual' cash deposits in
specific accounts, which are
usually less active, are estimated
to be ₹1.6-₹1.7 lakh Cr, an RBI
paper revealed. It said excess
deposits accrued to the banking
system due to demonetisation are
estimated at ₹2.8-₹4.3 lakh Cr.
Notably,
second
phase
of
Operation Clean Money detected
5.5 lakh people whose note ban
deposits didn't match tax profiles.
Venezuela's
currency
now worth less than gold
in video game
Venezuela's currency bolivar, is
worth less than fake gold in
online role-playing game 'World
of Warcraft'. A Twitter user
made the observation last
month,
noting
that
on
Venezuela's black market, one
can get $1 for 8493.97 bolivars
while a "WoW" token is worth
8385 gold per dollar. According
to DolarToday, the currency has
since slipped further to 12,197
per dollar.
3.
5. If you're rigid like a tree,
you
fall
and
break:
Raymond MD
Raymond Group's Chairman and
MD Gautam Hari Singhania said,
"If you are rigid like a tree, you fall
and break." "People who are not
going to change are going to fall
by the wayside", he added. His
statement comes amid claims
United
Breweries
removes Vijay Mallya as
its director
United Breweries has said that
absconding businessman Vijay
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