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"These 138 betting and gambling websites and 94 loan apps were engaging in illegal money laundering and were posing threat to financial security of our nation," an official source had said. (Representative image) The Ministry of Electronics and Information Technology (MeitY) met with several digital lenders in relation to the blocking of their websites and on platforms such as Google Play Store on February 8. Over the weekend, several domestic online lending platforms like Kissht and PayU-backed LazyPay were spiked after MeitY banned and blocked 138 betting apps and 94 loan lending apps that reportedly had Chinese links. The blocking orders were given under Sec 69A of the Information Technology Act 2000 on an ‘urgent’ and ‘emergency’ basis. Under Sec 69A of the IT Act, the Central government, represented here by MeitY, or any other specially-authorized officer, can issue blocking orders under specific grounds such as the interest of sovereignty and integrity of India, … [Read more...] about Digital Lenders meet Meity officials to seek more clarity on app ban directive

Share to Twitter Share to Linkedin Updated Wed., April 15, 2020 In late March, the federal government passed the CARES Act in response to the coronavirus crisis. As part of this new legislation, individual workers, independent contractors, gig workers, and freelancers are immediately entitled to receive a onetime $1,200 payment ($2,400 for married couples) from the IRS, plus an additional $500 per dependent 16 years or younger. In order to qualify for the full amount, you have to have earned $75,000 or less in the prior year ($150,000 or less if married). Above those income levels, the stimulus payment decreases until it stops altogether for single people earning $99,000 or married couples who have no children and earn $198,000. If you haven’t prepared your 2019 tax return, you can use your 2018 return to see if you meet the required income level. How can you make sure you get this stimulus payment quickly if you do qualify? The key is for the IRS … [Read more...] about How To Get Your $1,200 Stimulus Payment Direct Deposited To Your Bank Account

Share to Twitter Share to Linkedin President Biden’s State of the Union Address hammered home the point that drug prices must come down. He reminded viewers that he and his Democratic colleagues are doing something about the problem, as he touted the Inflation Reduction Act’s drug pricing provisions. Moreover, the President reproached pharmaceutical companies for making record profits from insulin, adding that he seeks to expand the $35 per month cap on out-of-pocket costs to the entire population, not just Medicare beneficiaries. Furthermore, Biden said his recently enacted Inflation Reduction Act is “taking on powerful interests to bring your healthcare costs down.” Well, that may be true. But, absent from the speech was any mention of health insurers and pharmacy benefit managers. In the U.S., multiple stakeholders have created a dysfunctional healthcare system, in which an enormous cost burden is imposed on the patient. The ever-increasing financial … [Read more...] about Biden’s SOTU Targets Drug Companies, But Misses Opportunity To Challenge Health Insurers And Pharmacy Benefit Managers

Share to Twitter Share to Linkedin InnovationRx is your weekly digest of healthcare news. To get it in your inbox, subscribe here . C VS Health announced its plans to acquire Oak Street Health in a $10.6 billion deal on Wednesday, as the pharmacy retailer and parent company of health insurer Aetna looks to expand its reach into primary care. As Forbes senior contributor Bruce Japsen writes , the move comes amid a broader primary care clinic buyout wave by other retailers. This includes Amazon’s $3.9 billion bid for One Medical in July and investments by Walgreens Boots Alliance and health insurer Cigna in VillageMD. The deal values Oak Street at $39 per share, which is 16% above the $33.68 share price at Tuesday’s market close. The Chicago-based company, which employs 600 primary care providers across 169 medical centers, enters into value-based contracts with insurers to manage the care of seniors in the Medicare program. The company … [Read more...] about InnovationRx: CVS Bid For Oak Street; Plus, Covid Strains In Beijing

Indian Oil Corporation Ltd hopes that its green hydrogen initiatives and collaborations will accelerate the conversion of grey hydrogen to green and help achieve the ‘1-1-1 goal,’ Chairman Shrikant Madhav Vaidya, told Moneycontrol at the ‘India Energy Week 2023’. [Green Hydrogen 1-1-1 refers to the aim of reducing the price to $1 per 1 kilogram in 1 decade. ] Indian Oil Corporation is the largest state-owned oil refining company, with a capacity of 70.05 million metric tonnes per annum. It is also one of the leading petrochemical producers in India. Vaidya talked about the company’s petrochemicals expansion plan, the role of fossil fuels, and talent availability for its clean energy ventures, including green hydrogen. Edited excerpts: Q: Indian Oil has made a move towards clean energy in the green hydrogen space. What kind of targets do you have? A: Hydrogen and the refining industry go hand-in-hand. It's a raw material for me. So when I talk of hydrogen, basically, it's … [Read more...] about Hope to achieve ‘1-1-1 goal’ for Green hydrogen, petrochemicals to be integral part of Indian Oil’s growth story: Chairman

Lupin Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Drug maker Lupin on Thursday said it has received approval from the US health regulator to market a generic medication, used before a surgery to decrease the volume of secretions from mouth, lungs and stomach, in the American market. The company has received approval from the US Food and Drug Administration (USFDA) for Glycopyrrolate Injection, a generic equivalent of Hikma Pharmaceuticals' Robinul Injection, the Mumbai-based drug maker said in a statement. The product marks the first approval from the company's new injectable facility in Nagpur, it added. "We are committed to building a strong injectable business as part of our growth strategy," Lupin CEO Vinita Gupta said. With the approval of the product from the Nagpur facility, the company can now fast-track its … [Read more...] about Lupin bags USFDA nod to market generic product in US market

From left: AgniKul Cosmos co-founder and COO Moin SPM and CEO Srinath Ravichandran Agnikul Cosmos, a Chennai-based space tech startup, is planning a full-scale commercial launch of their rocket Agnibaan in March/April 2023, according to co-founder and CEO Srinath Ravichandran. Agnilet, the startup's single-piece 3D-printed engine, was recently successfully tested at the Indian Space Research Organization's (ISRO) Vikram Sarabhai Space Center (VSSC) in Thiruvananthapuram. The startup is planning a test launch of its two-stage booster Agnibaan in December 2022. And, based on the findings of the test launch, the startup plans to conduct a commercial launch with customer payloads in March or April 2023, Ravichandran said. "There are a lot of people who have expressed interest to be part of the launch. So I think once our test is done, we will start converting them into like actual contracts," Ravichandran said. Ravichandran and Moin SPM, an operations specialist, founded … [Read more...] about Agnikul Cosmos plans commercial launch of Agnibaan around March 2023

Representative image In a relief for Flipkart, the company received an interim stay from the Karnataka High Court in a demand exceeding Rs 1,100 crore from the Commissioner of Income Tax - Appeals (CIT(A)) on January 31. The demand pertains to the assessment years 2016-17 and 2018-19, and Flipkart had been directed to deposit the same within four days. The company had filed writ petitions against the demand notices issued by the CIT(A), after upholding addition on account of capitalising discount as marketing intangibles and disallowing ESOP cross charges amounting to about Rs 4,500 crore and Rs 180 crore respectively for the two assessment years. Flipkart contended that the issue of capitalisation of marketing intangibles was decided in its favour by Income Tax Appellate Tribunal (ITAT) for 2015-16, and the allowability of ESOP cross charges is covered by rulings in the Madras and Delhi High Courts. The e-commerce major’s primary grievance was that reasonable time was … [Read more...] about Flipkart gets interim stay from Karnataka HC in Rs 1,100 crore tax demand case

Representative Image(Source: ISRO) The policy for foreign direct investment (FDI) in space sector and the National Space Policy are in the process of securing final approval from the government, Minister of Science and Technology Jitendra Singh said in the Parliament on February 8. Singh was responding to a query on whether the government has “accepted” the involvement of private sector companies, start-ups in the space technology businesses, and the current policies to support such business. Earlier, Moneycontrol reported that the stakeholders in the space tech industry were pitching for a 74 percent foreign direct investment , which would be in line with the FDI for the defence sector. In 2022, the Indian Space Research Organisation (ISRO) Chairman S Somanath had said that a policy in this regard would be released soon. The government had also released the draft Indian Space Policy in 2022, which was reviewed by the Space Commission , and underwent consultation … [Read more...] about ‘Final approval’ awaited for National Space Policy and FDI in the space sector: Union minister

Representative image Indian Space Research Organisation (ISRO) chairman S Somanath on October 26 said that the foreign direct investment (FDI) policy for the space sector will be released soon. Somanath, speaking at the inaugural session of the Indian Space Congress, said, "Foreign direct investment opportunities are also being described and that policy will be out soon." In order to encourage more commercial activities and integrate space into India's larger economy, Somanath suggested that the way in which space is viewed needed to change. "The whole approach of looking at space technology has to change. This is precisely what the government looked at while coming up with the space sector reforms... The whole idea of reforms is to look at how the demonstrative capabilities can be monetised and create a scale of economy where the space sector could grow," Somanath explained. Moneycontrol was the first to report that the Indian space sector was seeking 74 percent FDI . … [Read more...] about FDI policy for space sector to be released soon, says ISRO chairman S Somanath