Banks submitted bids amounting to Rs 4.75 trillion, around 2.5 times of the notified amount of Rs 1.75 trillion, at the Variable Rate Reverse Repo (VRR) auction conducted by the Reserve Bank of India (RBI) on December 22, a day after the liquidity deficit in the banking system widened to Rs 2.5 trillion. In the most recent VRR auction held by the RBI on December 15, bids totaling 2.7 times the notified amount were received. Banks secured Rs 1 trillion at a weighted average rate of 6.63 per cent.
India spends significantly less on defence than could be expected from a country that faces simultaneous armed threats from two hostile neighbours -- China and Pakistan.
India head coach Rahul Dravid on Monday said the team management does not ask for rank turners while playing at home and it is tough to predict how a particular pitch would play out over the course of five days in a Test.
Spinner Maheesh Theekshana took 4-31 as Sri Lanka claimed victory over Netherlands by 128 runs in the final of the 2023 Cricket World Cup qualifier tournament.
The improvement in the performance of actively managed mutual fund (MF) schemes is acting as a key tailwind for the nearly Rs 50 trillion industry, Kotak Institutional Equities (KIE) said in a report. The report adds that the two largest listed asset management companies (AMCs) - HDFC and Nippon India - are likely to be the biggest beneficiaries. "The industry has a solid track record of delivering alpha on 10-year returns (70-80 per cent of assets under management (AUM) beat the benchmark), with shorter duration performance also on an upswing.
Retirement fund body EPFO recorded a net addition of 17.21 lakh members in September, according to payroll data released on Monday. Month-on-month comparison of payroll data shows an increase of 21,475 net members over August 2023, a labour ministry statement said. Year-on-year comparison of payroll data reflects an increase of 38,262 net members over September 2022.
Industry experts say that the government needs to further relax FDI norms to attract investors to the sector.
All six members of the Reserve Bank of India's (RBI's) monetary policy committee (MPC) expressed caution over food inflation during the December review, while two external members warned about high real interest rates as headline inflation approaches its target of 4 per cent. The central bank continued to maintain the status quo on both the repo rate and the stance in the December monetary policy. India's retail inflation in November rose to 5.5 per cent - its fastest pace in three months - due to higher food prices.
Dinesh Karthik hit a quickfire half-century as Tamil Nadu overcame a jittery start to down Baroda by 38 runs.
Despite high headline numbers, the output of one-third of the segments in the manufacturing sector in August stood below even that in the same month in 2011-12, when the new index of industrial production (IIP) series started. This is despite the fact that manufacturing grew 9.3 per cent in the month, driving up IIP growth to a 14-month high of 10.3 per cent. Part of it is due to the devastation of these product categories by lockdowns induced by Covid waves and subdued export conditions, while part of it needs to be assessed further.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
The FBI said that its Legal Attache' office in Israel was actively working with partners on the ground to locate and identify US citizens afftected by the terror attacks.
New business orders fall at faster pace, with index at 47.6 in March from 49.5 in February.
Her reasoning is simple, "It's a Tata company. No shareholder will let go of this opportunity," she told Business Standard. When asked if the other reason for lining up for the IPO is the technology sector and the fact that the combination of Tata and tech is happening after almost two decades, she replied: "The name of the company and the group matter. Tata means stability and credibility," she added.
After their colleagues had departed following breezy fifties on a good M Chinnaswamy Stadium track, Iyer (128 not out) struck his fourth ODI ton before Rahul (102) exploded as the duo lit up the stage on the Hindu festival of Diwali to get India to 410-4.
Lenders of debt-ridden Jet Airways on Tuesday filed an appeal in the National Company Law Appellate Tribunal (NCLAT) against implementation of the resolution plan by the Jalan-Kalrock consortium, according to sources. The sources said the lenders have maintained that the condition precedent mentioned in the resolution plan of the consortium has not been met. And therefore, the plan is not valid. "The lenders want the plan to be circled back to the committee of creditors (CoC) for fresh consideration," the sources said.
Prime Minister Narendra Modi has undertaken 21 trips abroad since 2019 and over Rs 22.76 crore was spent on these visits, the government said on Thursday.
The 2023-24 (FY24) July-September quarter (second quarter, or Q2) proved to be a mixed period for asset management companies (AMCs). While the two largest listed AMCs, HDFC and Nippon, reported robust growth in both revenue and profits, the other two, Aditya Birla Sun Life and UTI, experienced profit declines. HDFC AMC reported an 18 per cent year-on-year increase in Q2 revenue to Rs 765 crore, while Nippon's revenue rose 15 per cent to Rs 475 crore.
For the last four years since abrogation of Article 370, Kashmir-based political parties have been struggling to forge an alternate narrative to the one forcibly snatched from them. The BJP is bound to go hammer and tongs at them now that their armoury is reinforced with the Supreme Court judgment, notes Mohammad Sayeed Malik, the veteran commentator on Kashmir affairs.
The Adani group will be generating almost 90 percent of its Ebitda (earnings before interest, tax, depreciation, and amortisation) from infrastructure business by 2025 as compared to 83 per cent generated from these businesses currently, top company officials told bankers recently. Of the infrastructure business, 49 per cent of the profits are currently contributed by energy and utility, another 25 per cent by transport and rest by cement and logistics businesses. This will go up substantially as several new projects like Navi Mumbai airport and other projects get commissioned and contribute to the overall Ebitda pie, bankers were told.
Heavy rain washed out the third day of the already weather-disrupted third and final Test between Australia and South Africa at Sydney Cricket Ground on Friday.
The markets have given a thumbs down to Jubilant FoodWorks results for the April-June quarter (Q1) of 2023-24 (FY24). The company, which owns and operates Domino's Pizza and Popeyes chain of stores, reported a (standalone) net profit of Rs 75.2 crore in Q1 of FY24 - a drop of 25.5 per cent year-on-year (YoY) from Rs 101 crore, but a quarter-on-quarter (QoQ) rise from Rs 47.5 crore. What's worrying the Street is the likelihood of a dismal Q2FY24 performance, which it feels will be marred by soaring milk, cheese and vegetable prices.
Wipro, Power Grid, Larsen & Toubro, Mahindra & Mahindra, Tech Mahindra, NTPC, Titan, Tata Consultancy Services and HCL Technologies were among the other major winners. Bajaj Finance, IndusInd Bank, Asian Paints, Hindustan Unilever, Axis Bank, ICICI Bank, Reliance Industries and HDFC Bank were among the laggards.
This is India's fourth ODI World Cup final.
IndusInd Bank was the biggest gainer on the Sensex chart, rising 4.75 per cent, followed by M&M, L&T, NTPC, ITC, Ultra Cement, Tata Steel, Maruti and SBI. In contrast, Bajaj Finance, Tech Mahindra, Infosys and Sun Pharma were among the losers, shedding up to 2.30 per cent.
Images from Day 2 of the third Test between Australia and South Africa at the Sydney Cricket Ground on Thursday
Highlighting the low representation of women in the Central Armed Police Forces, a parliamentary committee has asked the Union home ministry to take steps to encourage them to join the services, besides recommending a reservation for transgenders.
With these additions, the state's overall COVID-19 tally rose to 78,87,086, while the death toll increased to 1,47,860, the department said in a bulletin.
The incident happened while the Kochi-bound Boeing 737-800 aircraft was taxiing and after the warning, the passengers were evacuated as a precautionary measure, the source said.
The Eternal Gandhi Museum is the only Gandhi-related museum in the United States, dedicated to Gandhi, to preserve and promote his ever-lasting legacy of nonviolent conflict resolution.
Investors' wealth climbed Rs 3.20 lakh crore as markets staged a smart comeback on Wednesday after falling in the last eight trading sessions. The BSE Sensex rallied 448.96 points or 0.76 per cent to settle at 59,411.08. During the day, it jumped 513.33 points or 0.87 per cent to 59,475.45.
The stock has gained over 10 per cent in the last month but it could still have an upside, with valuations between Rs 5,200 and Rs 5,700 from several analysts and strong 'buy' consensus.
North East were 65 for 2, 475 runs in arrears, when bad light and rain forced an early closure to their first dig on Thursday.
There's an entire gurdwara dedicated to immigration. People present tiny airliner models here in the hope that Waheguru will soon give them a ticket, passport and visa to leave, reveals Shekhar Gupta.
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
Yashasvi Jaiswal is a quick learner and has the ability to excel not just for his IPL franchise but also India, feels Rajasthan Royals head coach Kumar Sangakkara.
Poor turnout for the third and final ODI in Thiruvananthapuram, on Sunday raised serious questions about the relevance of the 50-over format
I stumbled upon shares worth around Rs 300,000 in my late father's name, which are currently with the Investor Education & Protection Fund, points out Harsh Roongta.
Jet Airways has been hit by three top-level resignations ahead of its relaunch. The three senior executives who have resigned include Captains Niraj Chandan (head of flight safety), Vishesh Oberoi (head of operations) and Sorab Variava (head of training). These posts are critical and generally senior pilots are nominated for the roles.
Pravin Jadhav and Kulin Shah, Co-Founders at Wishberg share with us the 14 lessons they learnt while setting up their business.
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