The RBI said on Friday that retail investors would very soon be able to directly buy and sell government securities (G-Secs). A difficult proposition now, once it is allowed, it could open up another avenue for retail investors to look at government-guaranteed, low-risk products for long-term investment.
India can draw satisfaction over Opec leaving the Asian price unchanged for March since it indicates the group is listening to concerns of consumers. India had reacted sharply to the surprise Saudi offer of an additional production cut on January 5, which sent oil prices soaring.
The Reserve Bank of India (RBI) on Friday kept interest rates on hold but promised to retain the policy stance as accommodative to support growth as long as it was required to aid recovery.
Mahindra and Mahindra (M&M) Ltd reported a slump in third-quarter profit on Friday, as the carmaker reported a one-time loss on its South Korean unit Ssangyong Motor which has filed for bankruptcy
As part of further improving, speeding up and fool-proofing the payments and settlement systems, the Reserve Bank on Friday said all the 18,000-odd branches which are outside the centralised clearing system called cheque truncation system will come under it by September.
The department of investment and public asset management (DIPAM) has asked the transaction adviser (TA) for Air India divestment to “strictly maintain the confidentiality of the potential bidders.” It has also mandated that potential bidders will sign a “non-disclosure undertaking” about not revealing their identity. The government has appointed Ernst and Young LLP India (EY) as the transaction advisor for AI.
Reserve Bank governor Shaktikanta Das on Friday said three investors have submitted their offers for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and evaluation for those are underway.
For the first time in its history, tech titan Cognizant Technology Solutions saw its profits contract both, on a quarterly and annual basis by 2.3% and 0.8%, respectively.
Even after stepping aside as CEO, Amazon founder Jeff Bezos will likely keep identifying new frontiers for the world's dominant e-commerce company. His successor, meanwhile, gets to deal with escalating efforts to curtail Amazon's power.
Digital payment solutions provider PayPal on Friday said it will stop offering domestic payment services within India from April 1.The US-based company will instead focus on enabling more international sales for Indian businesses.
The ministry of corporate affairs (MCA) is set to launch random electronic scrutiny of corporate filings later this year as it seeks to use technology to improve supervision and compliance, a top official said.
In a major structural reform, the Reserve Bank of India (RBI) on Friday allowed retail investors to access to the government securities (G-sec) market. Announcing the RBI's monetary policy review for the month of February, governor Shaktikanta Das said that the move will make India join a select group of country offering such facility to investors.
In one of the largest employee stock ownership plans (ESOP) by a startup, payments major PhonePe has issued shares worth over $200 million or Rs 1,500 crore to all its 2,200 staff across all levels, including freshers.
An appellate authority under the consumer affairs ministry has rejected Amazon India’s application to review the fine imposed on it for not displaying ‘country of origin’ details on products on its marketplace.
The Reserve Bank has lowered the retail inflation projection for the current quarter of this fiscal at 5.2 per cent, saying it has returned within the "tolerance band". On the economy, the central bank said it is only going to look upwards from here.
The Reserve Bank of India (RBI) on Friday decided to keep key lending rates unchanged in its February policy review meeting.The six-member monetary policy committee (MPC), headed by governor Shaktikanta Das, kept repo rate unchanged at 4 per cent, while maintaining accommodative stance.
Equity indices continued to surge on Friday with both sensex and Nifty scaling record highs on opening trade ahead of the RBI monetary policy outcome. The 30-share BSE index breached the 51,000-mark for first time ever and was trading 391 points or 0.77 per cent higher. While, the broader NSE Nifty breached the 15,000-level.
RBI governor Shaktikanta Das is widely expected to announce a status quo in his statement on Friday after the monetary policy committee (MPC) meeting. However, the market is keenly awaiting the RBI’s road map for normalising liquidity in the wake of the government’s oversized borrowing programme, which has pushed up bond yields.
Overall, HNI account holders had an average corpus of Rs 5.9 crore. They had average earnings of Rs 50.3 lakh annually - and tax-free under the current dispensation. "The government has done away with this disparity of paying huge sum of tax-free interest to HNIs at the cost of honest average salaried class contributor and taxpayers," an official said, justifying the tax proposal in the Budget.
Indian cricket team captain, Virat Kohli retained his spot as the most valuable celebrity in India for the fourth consecutive year, showed a report. Kohli, valued at $238 million in 2020, is followed by Bollywood celebs Akshay Kumar and Ranveer Singh at $119 million and $103 million respectively.
The S&P 500 gained 1.1 percent to 3,871.74, while the tech-rich Nasdaq Composite Index jumped 1.2 percent to 13,777.74. The Dow Jones Industrial Average was up 1.1 percent at 31,055.86, about 130 points shy of a record.
The third round of airport privatisation, aimed to be completed next fiscal, will cover six to ten airports. The government will this time club small, loss-making airports with profitable ones that bidders wish to acquire, aviation secretary P S Kharola said on Thursday.
The market capitalisation (m-cap) of BSE-listed companies on Thursday crossed the historic Rs 200 lakh crore mark for the first time, driven by a continuous rally in the broader market. Riding high on the bullish investor sentiment, the market capitalisation of BSE-listed companies reached a record Rs 2,00,47,191.31 crore at close of trade.
Fugitive diamond trader Nirav Modi's sister and her husband on Thursday approached a court here seeking cancellation of non-bailable warrants (NBWs) against them in the Punjab National Bank (PNB) fraud case.
Financial services secretary Debasish Panda is responsible for implementing some of the key measures – from privatising two banks and a general insurer to setting up a development financial institution and faster payment of depositors stuck in ailing banks.
The government will provide Rs 1 lakh crore additional income to farmers that will be generated by converting waste into energy, Union petroleum and natural gas minister Dharmendra Pradhan told Rajya Sabha on Thursday.
Describing the Union Budget as "crony-centric", Congress leader Rahul Gandhi on Thursday said the micro, small, and medium enterprises (MSMEs) were given no low interest loans or GST relief which meant that the employers of India's largest workforce were "betrayed".
Equity indices continued to surge for the fourth straight session on Thursday with the benchmark BSE sensex rising over 350 points led by gains in banking and FMCG stocks. After scaling an intra-day high of 50,212, the 30-share BSE index surged 359 points or 0.71 per cent to finish at fresh peak of 50,614; while the broader NSE Nifty settled 106 points or 0.71 per cent higher at 14,896.
Amid criticism over the pAmid criticism over the proposed tax changes for those contributing over Rs 2.5 lakh annually towards provident fund, the government on Thursday said there are only 1.2 lakh accounts of high networth individuals who contribute “huge sums”.roposed tax changes for those contributing over Rs 2.5 lakh annually towards provident fund, the government on Thursday said there are only 1.2 lakh accounts of high networth individuals who contribute “huge sums”.
India's southern state of Andhra Pradesh will use a deepwater port to export rice for the first time in decades amid a global shortage of the grain, according to a government order seen by Reuters, which could raise shipments this year by a fifth.
Bezos, whose email address is public, receives customer complaints that he then forwards to a relevant executive whose team is responsible for fixing the problem. Sometimes landing overnight, these emails from the world's second-richest person had no salutation, no commentary or thank you - just a single question mark.
State Bank of India, the country's largest lender by assets, reported a 7% fall in third-quarter profit on Thursday, hurt by higher provisions. Net profit fell to Rs 5,196 crore ($712.73 million) for the three months ended December 31.
Reliance Industries Ltd (RIL) said on Thursday its unit will sell its interest in certain upstream assets in the Marcellus shale in the United States for $250 million in cash to Northern Oil and Gas Inc.
Petrol prices hit a new record high on Thursday in the national capital with oil marketing companies (OMCs) raising rates by 35 paise a litre to Rs 86.65. Diesel prices were also raised by 35 paise a litre to Rs 76.83 in Delhi.
French IT firm Capgemini has 19,000 open positions this year in India, signalling a positive hiring forecast. Sources told TOI that the funnel would have a mix of freshers and mid-level hires. And there will be hiring for both operational and technology roles, with the latter focused on new digital technologies.
The government has mopped up nearly 80% more road and infrastructure cess levied on petrol and diesel compared to what it had estimated for 2020-21. According to the budget documents, the receipts on this account increased to nearly Rs 2.3 lakh crore in the revised estimates compared to the nearly Rs 1.3 lakh crore, which was projected in the budget.
Parler has fired the chief executive from the ultraconservative-leaning social network embroiled in controversy stemming from the deadly attack on the US Capitol, Fox News reported Wednesday.
In a detailed order, a special Prevention of Money Laundering Act (PMLA) court has held that it appeared former ICICI Bank CEO Chanda Kochhar had misused her official position in granting loans to V N Dhoot of Videocon group companies and got illegal gains through her husband Deepak Kochhar.
The government has no plan to close down loss-making public sector telecom firms BSNL and MTNL, minister of state for telecom Sanjay Dhotre told Lok Sabha on Wednesday. The minister shared that BSNL's loss has swelled to Rs 15,500 crore from Rs 14,904 crore, and that of MTNL increased to Rs 3,811 crore from Rs 3,398 crore between 2019-20 and 2018-19.
The International Air Transport Association (IATA) on Wednesday said pandemic 2020 saw demand plunge by 65.9% compared to the full year of 2019, “by far the sharpest traffic decline in aviation history.”
Market leaders in FMCG food segments, such as, instant noodles and tea, are losing ground to smaller brands in tier-2 and tier-3 towns, showed a report. The minor loss in market share by these top brands, such as by Maggi and Red Label has been the gain of challenger brands, including Ching’s, Yippie, Top Ramen and Wagh Bakri.
Investor wealth has jumped by over Rs 12.31 lakh crore in three days, taking the market capitalisation of all BSE-listed companies to a record Rs 198.43 lakh crore on Wednesday as equities continued their budget-driven rally.
The Securities and Exchange Board of India (Sebi) on Wednesday barred Future Group CEO Kishore Biyani from accessing the securities market apparently for a period of one year.
In a first for Indian carriers, Alliance Air (AA) will soon be using a made-in-India aircraft for scheduled passenger flights. AA is inducting two Dornier 228 turboprops manufactured by Hindustan Aeronautics Ltd (HAL) to its fleet and hopes to start commercial flights on them by this March.
Bharti Airtel on Wednesday posted a net profit of Rs 854 crore for the third quarter ended December 2020, compared to Rs 1,035 crore loss a year ago, on the back of improved realisations and the strong customer addition.
Senior Congress leader Rahul Gandhi on Wednesday slammed the Centre for the Union Budget 2021 stating that the budget is for only 1 per cent of the population. Speaking at a media briefing, he said: "I had expected from the budget that government will provide support to 99 per cent of India's population. But this budget is that of the 1 per cent population."