US Defense Industry Struggles to Source Rare Earth Magnets Without China

Panel proposes lowering minimum director age to 18, raising upper limit to 75

A parliamentary panel has recommended reducing the minimum age for company directors and managing directors to 18 years, while also proposing to raise the upper age limit to 75. The committee has called for dedicated NCLT benches to handle insolvency cases, aiming to improve efficiency in asset resolution. It has suggested retaining the existing Rs 10 crore net profit threshold that determines CSR obligations for companies. The panel also proposed new provisions to allow foreign companies to re-domicile seamlessly to the International Financial Services Centre (IFSC).

BJP chief Nitin Nabin’s Patna bastion falls, Prashant Kishor storms into House

Rajasthan’s Mangarh Dham, once promised national monument status, doesn’t make the cut

Foreign and Private Banks Lead 68% Surge in FCNR(B) Deposit Mobilization

Foreign currency non-resident (FCNR-B) deposits saw a sharp rise between June and July, with banks aggressively tapping into RBI incentives to mobilize funds. Foreign banks recorded the fastest proportional growth in their FCNR(B) holdings during this period. HSBC, SBI, and ICICI Bank were among the top contributors to the overall collection effort. The bulk of the mobilization was concentrated within the ten largest banking institutions. Together, foreign and private banks accounted for over 68% of the total FCNR(B) funds raised.