Business Standard's opinion pages this week focused on RBI’s rate hike, the Prophet Muhammad controversy, stagflation, and much more.

Business Standard's opinion pages this week focused on RBI's rate hike, the Prophet Muhammad controversy, stagflation, and much more.

BS Views of the week: Rate hike, Prophet Muhammad, stagflation, and more

Moody's said that the impact of the derivatives transactions, coupled with the ongoing stress in the retail unsecured loans, is likely to hurt the bank's profitability, capital and funding

Food delivery aggregator Zomato may face an insolvency plea as one of its operational creditors has moved the National Company Law Tribunal (NCLT), seeking restoration of its previous petition.
Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9 of the Insolvency & Bankruptcy Code in 2024.
In 2024, NCLT had dismissed it due to non-prosecution and now Nona Lifestyle has requested to restore its old petition.
It has filed an application under Rule 11 of NCLT Rules, 2016, which provides the tribunal inherent power that can also be used for restoration purposes.
It has requested the Delhi-based NCLT bench "to admit the accompanying application and pass an order for initiating the CIRP against the Corporate Debtor (Zomato) here in under Section 9".
CIRP stands for Corporate Insolvency Resolution Process.
The matter was listed on Monday before a two-member bench of the NCLT, ...

Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9 of Insolvency & Bankruptcy Code in 2024

The Kulasekarapattinam spaceport in Tamil Nadu's Thoothukudi district, the second launch complex for ISRO outside Andhra Pradesh, will see the maiden launch with the Small Satellite Launch Vehicle (SSLV) in 24 months, chairman of the space agency V Narayanan said on Monday.
The Indian Space Research Organisation (ISRO) SSLV will primarily support polar launches of upto 500 kg, with Indian industry involved in its production.
"All facilities will be commissioned for launch in 24 months. The first launch will take place in two years. Don't think it will be literally small in size. It will be a 500 kg satellite," Narayanan told reporters after inaugurating a new research centre at the Indian Institute of Technology Madras - S Ramakrishnan Centre of Excellence for Research in Fluid and Thermal Science (ISRO-IITM).'
Named after the former director of ISRO's Vikram Sarabhai Space Centre and a distinguished alumnus of IIT Madras, the Centre inaugurated in the presence of IIT-Madras directo

The Indian Space Research Organisation (Isro) SSLV will primarily support polar launches of upto 500 kg, with Indian industry involved in its production

The result is a new kind of supercomputer - a collection of up to 100,000 chips wired together in buildings known as data centers to hammer away at making powerful AI systems

Tension gripped central Nagpur on Monday when stones were hurled at police amid rumours that the holy book of the Muslim community was burnt during an agitation by a right-wing body for the removal of Aurangzeb's tomb, leaving four persons injured, officials said.
Police fired tear gas shells and resorted to cane-charge to disperse the mob in Chitnis Park and Mahal areas. Violence also reportedly spread to Kotwali and Ganeshpeth in the late afternoon, officials said.
Officials said the Chitnish Park to Shukrawari Talao road belt was most affected by violence as per the preliminary information, where some four-wheelers were set afire by rioters. Stones were also thrown at the homes of residents.
Police are trying to disperse mobs believed to be in thousands.
The trouble began late afternoon shortly after Bajrang Dal members demonstrated near the Chhatrapati Shivaji Maharaj statue in Mahal area.
According to police, rumours spread that the Quran was burnt during the agitation. Video

Police fired tear gas shells and resorted to cane-charge to disperse the mob in Chitnis Park and Mahal areas. Violence also reportedly spread to Kotwali and Ganeshpeth in the late afternoon

The Gujarat government has collected Rs 33.98 crore in taxes in two years from sale of liquor through 28 hotels in Ahmedabad and Gandhinagar districts, the state assembly was informed on Monday.
During Question Hour in the ongoing Budget Session, Congress MLA Imran Khedawala raised the query related to number of hotels having permits to sell liquor in these two districts and the tax collected by the government during the last two years.  In his written response, Gujarat Chief Minister Bhupendra Patel, who handles Prohibition and Excise department, said 22 hotels in Ahmedabad and six hotels in Gandhinagar district have been given permits to sell liquor.  The state government earned Rs 14.45 crore in 2023 and Rs 19.53 crore in 2024 as tax on the sale of liquor at these hotels, Patel said.  Patel added that no permit has been cancelled during the last two years.  Notably, Gujarat has been a 'dry' state since its inception and sale of liquor is regulated by the government.

Gujarat Chief Minister Bhupendra Patel, who handles Prohibition and Excise department, said 22 hotels in Ahmedabad and six hotels in Gandhinagar district have been given permits to sell liquor

With a focus on tourism, rural development and green energy, Chief Minister Sukhvinder Singh Sukhu on Monday presented the annual Budget of Rs 58,514 crore for 2025-26.
While presenting his third annual Budget for FY26, Sukhu said the year 2025-26 is full of financial challenges as revenue deficit grant has been reduced and GST compensation has been stopped which will impact the state's economy.
The Revenue Deficit Grant (RDG) has been reduced from Rs 10,949 crore in 2021-22 to Rs 3,257 in 2025-26, while Himachal Pradesh incurred a loss of Rs 9,478 crore till 2023-24, despite Good and service Tax (GST) compensation given by the centre to the state, he said.
The government will focus on promoting religious and eco-tourism besides exploring lesser-known tourist destinations, he said, adding that tea estates would be developed as eco-tourism destinations.
Operators were selected for seven eco-tourism sites in 2024 and 78 new eco-tourism sites would be allocated in the next phase and .

The Chief Minister also announced to give arrears of pensioners in the age bracket of 70-75 years in the first phase in May

CM Saini made various announcements in the budget, including earmarking Rs 5,000 crore for 'Lado Lakshmi Yojana' under which Rs 2,100 will be given to the state's women

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Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

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BS Views of the week: Rate hike, Prophet Muhammad, stagflation, and more

Business Standard's opinion pages this week focused on RBI’s rate hike, the Prophet Muhammad controversy, stagflation, and much more.

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