FROZEN FUNDS
Mount Everest's highest camp is littered with frozen garbage, and cleanup is likely to take years
A Nepal-funded team led by Ang Babu Sherpa and soldiers removed 11 tons of garbage and four bodies, starting in 1957, from Everest’s South Col. Waste sent to Kathmandu for Agni Ventures recycling. Up to 50 tons of garbage remain. Adverse weather hinders cleanup. Bodies sent to Tribhuvan University Teaching Hospital. Spring climbing season facilitated efforts.
EPF new rules: EPFO issues SOP on how to freeze, defreeze UAN
In order to detect probable situations of suspicious accounts or transactions where there may be a risk of impersonation or fraudulent withdrawals, multiple stages of verification for MIDs, UANs, and institutions will be carried out as part of the SOP. Here is a look at EPFO's latest SOP freezing and defreezing UANs of EPF subscribers.
G7 leaders agree to lend Ukraine billions backed by Russia's frozen assets. Here's how it will work
The Group of Seven leaders have reached a historic agreement to provide a $50 billion loan to support Ukraine in its ongoing conflict with Russia. This loan will be backed by interest earned on profits from Russia's frozen central bank assets, with details currently being finalized at the G7 summit in Italy. President Joe Biden hailed the agreement as a crucial step in providing sustainable support for Ukraine, while Ukrainian President Volodymyr Zelenskyy expressed gratitude for the international assistance.
Sebi rules on nomination in mutual funds, demat accounts. 10 things to know
Sebi has announced simplification of compliance for investors by lifting freeze on demat accounts and mutual fund folios due to non-submission of nomination.
Best tax saving mutual funds or ELSS to invest in June 2024
Tax -saving mutual funds or Equity Linked Savings Schemes (ELSSs) helps you to save income tax under Section 80C of the IT Act. You can invest a maximum of Rs 1.5 lakh in ELSSs and claim tax deductions on your investments every financial year. Are you interested?
Demat, MF A/cs won't be frozen for not filing nomination
Sebi announced it won't freeze demat accounts and mutual fund folios for existing investors without nominations. New investors must provide mandatory nominations, ensuring smoother processes and compliance in the market.
- Go To Page 1
Demat and mutual fund accounts won't be frozen for not filing nomination: Sebi
In a circular, the markets regulator said, based on representations received from participants, for ease of compliance and investor convenience, non-submission of 'choice of nomination' shall not result in the freezing of demat accounts as well as MF folios. In a circular dated December 27, 2023, Sebi extended the deadline for submitting "choice of nomination" for demat accounts and mutual fund folios to June 30, 2024. Accounts and folios without nomination details by this date will be frozen for debits.
G7 officials make progress but no final deal on money for Ukraine from frozen Russian assets
G7 finance officials are nearing an agreement on using frozen Russian assets to benefit Ukraine, with final decisions to be made at a June summit of national leaders.
G7 will try to use frozen Russian assets to help Ukraine
The G7 froze some $300 billion of Russian assets shortly after Moscow invaded its neighbour in February 2022. "We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine," the draft statement said.
World Bank chief Ajay Banga open to managing G7 loan to Ukraine
World Bank President Ajay Banga is open to managing a fund for Ukraine, disbursing a G7 loan using earnings from frozen Russian assets for non-military purposes.
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
Ukraine's allies are debating how to use frozen Russian assets to support Kyiv's war effort amid Russia's territorial gains. The issue of $260 billion in Russian assets frozen abroad is a key concern at the G7 meeting in Italy.
EU signs off on using Russian asset profits for Ukraine
The European Union on Tuesday formally approved using the profits from frozen Russian central bank assets to arm Ukraine, as the United States presses for a more ambitious plan. The final approval of the EU scheme, after months of legal wrangling, comes as the United States and Britain are pushing for a more far-reaching plan at the G7.
5 world market themes for the week ahead
Markets are hoping for evidence that will solidify a brightening global economic outlook, though rising trade tensions are casting a cloud, while G7 finance ministers gather in Italy.
Outcome of tax disputes holds key to Xiaomi’s ops
Xiaomi Technology India's ability to continue as a going concern depends on the outcome of multiple regulatory and tax disputes and additional funds from the Chinese parent. However, the company doesn't see a threat "for the foreseeable future" based on legal opinions obtained and cash flow projections. Xiaomi has faced multiple investigations and legal proceedings launched by income tax authorities, the Directorate of Enforcement, and the customs department on matters such as alleged evasion of custom duty and irregularities in royalty payments.
Mutual fund investment frozen for KYC? Know who can do re-KYC online and who has to do it offline
KYC for mutual funds: It is a regulatory requirement that re-KYC be completed by many investors by April 1, 2024. Although the process of completing re-KYC is easy enough, the lack of clarity among investors is causing issues. There are reports of people's KYC getting 'registered' status and not 'validated'. Then there is the issue of using Aadhaar, etc.
Bank account was frozen after protests against Adani port, reveals Kerala's Latin church
Vizhinjam, a coastal hamlet in the state capital, had witnessed strong protests against the seaport, which also resulted in violence in November 2022. In a pastoral letter read during Sunday Mass, the Latin church said it was facing a funds crunch due to the freezing of its bank accounts by the authorities.
Not enough money for campaigning as party accounts frozen: Congress
Congress candidates facing financial crunch for Lok Sabha due to frozen accounts. Party workers supporting despite lack of funds. Confidence in public fundraising. V D Satheesan emphasizes democracy over money in Kerala polls.
Congress has multiple bank accounts, just 3-4 of them attached, 'not frozen': BJP
BJP accuses Congress of misleading claims on bank account attachments for tax dues ahead of Lok Sabha poll. Rs 125 crore frozen by Income Tax department due to violation of Income Tax rules with multiple PAN numbers. Congress holds Rs 1,000 crore and Rs 500 crore fixed asset.
Samara Capital eyeing 50% in Del Monte Foods as well as a minority stake in Godrej Tyson Foods
The proposed deals reflect increasing investor interest in the ready-to-eat packaged foods categories, as convenience and accessibility drive aspirational demand of western-style foods even in tier-3 and 4 markets. On top of that, quick commerce and ecommerce are enabling impulse consumption and deeper reach. Both potential deals are expected to be housed in the new $150 million roll-up platform for packaged foods.
Moves to unlock value of frozen Russian assets 'necessary and urgent': Janet Yellen
U.S. Treasury Secretary Janet Yellen, speaking at a news conference ahead of meetings with her G7 and G20 counterparts, said the U.S. and its allies were evaluating different options for some $285 billion in Russian assets immobilized in 2022 and the associated risks.
Minor child turns major: Do this to avoid mutual fund account being frozen
Parents who had invested in mutual funds in name of their minor child must ensure to convert the status of the said mutual fund investments when their now child has become adult. If the status is not changed from minor to major when the child turns 18, the investments would be frozen.
'NewsClick' claims its bank accounts frozen by I-T dept
Prabir Purkayastha, the editor-in-chief and founder of the portal, and administrative officer Amit Chakraborty were arrested by the Delhi Police after the October searches. They are in judicial custody at present. The Delhi Police moved a court here on Tuesday seeking more time to complete its probe in the case lodged under anti-terror law Unlawful Activities (Prevention) Act (UAPA) over allegations that the portal received money to spread pro-China propaganda.
Russia tries to unfreeze gold reserves for climate funds at COP28
Russia said on Saturday it was looking into whether its frozen gold reserves, taken after Russia invaded Ukraine, could be used to fund the climate damage fund to help developing countries.
Assets of those named by UNSC for terror funding to be frozen within 24 hours: Govt to agencies
India, as per official records, enacted the law as per its commitment to the country specific efforts under UNSC resolution 1718 (2006) and 2231 (2015), and their successor resolutions, as mandated under section 2 of United Nations (Security Council) Act, 1947.
Your Demat, MF investments might be frozen if nominated details are not updated by Sept 30
On June 15, 2022, Sebi made the nomination mandatory for the existing mutual fund folios, including the jointly held ones by August 1, 2022. The deadline was then extended to October 1, 2022, then to March 31, 2023, and then to September 30, 2023.
Give nominee details for mutual funds by this date to avoid MF folio getting frozen
MF nomination last date: To avoid having their folios frozen for debits, all current holders of individual mutual fund units must designate themselves or choose not to before the deadline.
US okays prisoner swap deal with Iran, to release $6 bln in frozen Iranian funds
The US has cleared the way for $6 billion in oil proceeds to be returned to Iran as part of a secret deal. In return, five Iranians will be released, allowing five American citizens detained in Iran to return home. Secretary of State Antony Blinken notified Congress of a waiver that will allow certain banks to transfer the money from South Korea without violating US sanctions.
India asks US to allow release of funds frozen over suspected Russia diamond link
India has asked the U.S. to allow the release of $26 million belonging to at least two Indian diamond firms that was frozen due to their alleged trade links with sanctioned Russian diamond major Alrosa. The freeze is the first known punitive sanctions measure against any Indian business since Russia's full-scale invasion of Ukraine last year and subsequent Western sanctions on Russian entities.
India asks US to release funds frozen over suspected Russia diamond link: Sources
India has requested the US to release $26 million frozen by the Office of Foreign Assets Control (OFAC) due to alleged trade links with sanctioned Russian diamond firm Alrosa. The frozen funds were being transferred by UAE-based units of Indian diamond firms to buy rough diamonds, but it is unclear whether the money was meant for Alrosa or another party.
Load More
