Top headlines: WB pegs India's FY22 GDP at 8.3%; Piramal faces a new hurdle

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World Bank projects India to grow at 8.3 per cent in 2021
 

The World Bank on Tuesday projected India's economy to grow at 8.3 per cent in 2021 and 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the Covid-19, the largest outbreak in the world since the beginning of the deadly pandemic. The Washington-based global lender, in its latest issue of Global Economic Prospects released here, noted that in India, an enormous second Covid-19 wave is undermining the sharper-than-expected rebound in activity seen during the second half of Fiscal Year 2020/21, especially in services. READ MORE...
 

RBI asks banks not to destroy CCTV recordings of demonetisation period
 

The RBI on Tuesday asked banks to preserve the CCTV recordings of their branches and currency chests from November 8, 2016, to December 30, 2016, till further orders with a view to assisting the enforcement agencies to take actions against persons involved in illegal activities during the demonetisation period. The government had demonetised the then in circulation high value currency notes of Rs 500 and Rs 1,000 on November 8, 2016, with an aim to check blackmoney and curb terror funding. READ MORE...

FM asks Infosys to fix tech glitches on new income tax e-filing portal
 

Finance Minister Nirmala Sitharaman on Tuesday asked Infosys and its Chairman Nandan Nilekani to fix technical glitches being encountered on the income tax department's new e-filing website, after users flooded her Twitter timeline with complaints.

Infosys was in 2019 awarded a contract to develop the next-generation income tax filing system to reduce processing time for returns from 63 days to one day and expedite refunds. READ MORE...
 

DHFL: 63 moons to challenge NCLT's approval
 

63 moons technologies, which holds around Rs 200 crore worth of non-convertible debentures (NCDs) of Dewan Housing Finance Limited (DHFL), is planning to challenge the National Company Law Tribunal’s (NCLT) order approving the Piramal Group’s resolution plan for the beleaguered home financier. “63 moons believes that the current resolution plan is contrary to law and against the interest of all DHFL's creditors including NCD holders," the company said in a statement. READ MORE...