Top headlines: LIC virtual road shows underway, Ukraine tensions drag on

Europe is tense as a senior Joe Biden administration official says Russia’s declare of withdrawing troops from the border with Ukraine is “false”. Head additional down for extra on this and different tales in our morning wrap.

Govt plans to faucet round 180 traders for LIC IPO

For the street exhibits of Life Insurance coverage Company of India’s (LIC’s) itemizing, the federal government will method giant traders who haven’t but anchored any Indian preliminary public providing (IPO) and those that focus solely on giant public choices, officers within the know mentioned. The federal government is making an attempt to attach with greater than 180 traders. As the federal government prepares for the biggest-ever public itemizing in India, digital street exhibits with traders have began, officers mentioned. Learn extra

Banks advised to tighten monitoring, have ironclad KYC

The alarming enhance in on-line frauds in latest instances has prompted the regulator to ask industrial banks to shore up monitoring and make know-your-customer (KYC) credentials ironclad earlier than opening accounts in particular districts of concern throughout the nation.

Based on bankers, the web fraud which began in Jharkhand’s Jamtara – notorious as India’s phishing capital – just a few years again has unfold its tentacles to ensnare the gullible in Noida, Gurugram, Mewat, Alwar, and Ahmedabad. Learn extra

Govt prone to suggest 18% GST on crypto mining

The Middle will take a proposal to the Items and Providers Tax Council (GST Council) to levy GST on entities that present a mining platform for cryptocurrency belongings and those that use digital digital belongings as a medium of trade in purchases.

Whereas the Central Board of Oblique Taxes and Customs (CBIC) is inspecting the matter, its chairman Vivek Johri advised Enterprise Commonplace the proposal may very well be to tax these of 18 per cent. Learn extra

Tata Sons to infuse extra Rs 2,420 crore in Tata Tele

Tata Sons, the holding firm of the Tata group, will infuse an extra Rs 2,420 crore in its loss-making unlisted subsidiary, Tata Teleservices, which is able to, in flip, use the money to repay its lenders earlier than March.

Based on a banking supply, Tata Teleservices must pay Rs 1,530 crore to banks by February finish and one other tranche of Rs 890 crore by March 11. Learn extra

US rejects Russia’s declare of withdrawing troops

A senior Biden administration official on Wednesday advised reporters that america believes Russia’s declare it was withdrawing troops from the border with Ukraine is “false.”

“So yesterday, the Russian authorities mentioned it was withdrawing troops from the border with Ukraine. They acquired a number of consideration for that declare, each right here and all over the world. However we now understand it was false,” the official mentioned. The official didn’t supply particulars or present proof for the way it knew that. Learn extra

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