The Competition Commission of India (CCI) has fined Meta ₹213 crore over WhatsApp's 2021 privacy policy update. The company must stop unfair business practices and make changes, including giving users the option to control their data sharing and stopping the use of user data for advertising. The penalty comes from Meta's misuse of its dominant position in the messaging and advertising markets.
NALCO shares jumped over 9% on November 18 after the company reported a five-fold increase in its quarterly profit. The company earned a net profit of ₹1,062 crore for Q2 FY 2024-25, up from ₹206 crore in the same period last year. Its total income grew by 32% to ₹4,001 crore, and the company also declared an interim dividend of ₹4 per share.
The Income Tax Department has warned taxpayers that not reporting foreign assets or income in their income tax return (ITR) could lead to a fine of up to Rs 10 lakh. The warning comes as the deadline for filing belated and revised ITRs approaches, with the final date being December 31. Taxpayers are encouraged to report all relevant foreign assets and income to avoid penalties under the Black Money Act.
Domestic air travel crossed 500,000 passengers for the first time on Sunday, driven by affordable fares, a long weekend, and the wedding season. A total of 5,05,412 passengers flew on 3,173 flights that day. Passenger numbers have stayed high, consistently reaching over 4.9 lakh daily. Airlines have benefitted from cheaper fares and more flights, which helped boost demand after the Diwali season.
Diljit Dosanjh reacted to Telangana's ban on songs about alcohol and violence ahead of his concert in Hyderabad. He raised concerns about the unfair treatment, saying foreign artists get more freedom than Indian performers.
Narayana Murthy, founder of Infosys, emphasizes putting employee welfare before high executive salaries. He calls for "compassionate capitalism," where business leaders focus on meeting the basic needs of their lowest-paid workers first. Murthy also warns about uncontrolled tech growth, advocates for job creation in rural areas, and promotes responsible use of AI.
Lenders are finding that women are less likely to default on loans than men. In FY23, women had a loan default rate of just 1.9%, while men’s rate was 2.5%. The number of women taking out loans and the size of their loans both grew in 2023. Government programs and better access to e-commerce have helped more women become part of the financial system. Banks are focusing more on offering loans to women, especially in self-help groups and joint liability groups, where women’s involvement in deposits and credit is rising.
The US has returned over 1,400 stolen antiquities worth $10 million to India, including sculptures taken from Madhya Pradesh and Rajasthan. The items, seized from New York’s Metropolitan Museum, were recovered as part of investigations into criminal trafficking networks. Around 600 more antiquities are expected to be returned soon.
The Punjab Police, working with authorities in Maharashtra, have arrested Akash Gill, a member of the Lawrence Bishnoi gang, in connection with the murder of NCP leader Baba Siddique. Gill, from Fazilka, Punjab, is accused of helping the shooters involved in the October 12 killing. He is now in Mumbai Police custody for further investigation.
Republican Senator Cynthia Lummis from Wyoming has introduced a bill that would sell part of the Federal Reserve’s gold to buy 1 million Bitcoin, aiming to reduce the national debt. The purchase would cost about $90 billion. Lummis argues that the plan wouldn’t impact the U.S. balance sheet since gold certificates could be swapped for Bitcoin. Despite support from Trump and some crypto-friendly lawmakers, critics are concerned about Bitcoin's volatility and whether the bill will pass in Congress.