'EPFO's investments this financial year should be Rs 1 lakh crore'
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
HNI investors need an optimal mix of oversubscription and listing-day gain to make money on leveraged bets, notes Sanjay Kumar Singh.
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Kotak Bank, IndusInd Bank, NTPC, ICICI Bank, Axis Bank and HDFC Bank. On the other hand, HUL, ITC, L&T, Bajaj Finserv and Tech Mahindra ended with gains.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
Jet's operating fleet reduced from 103 planes in October 2018 to 35 now, leading to massive cancellations and a surge in airfares
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
Inflation indexed bonds assure a positive return over inflation.
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
In another development, SBI Capital Markets, which had issued the expressions of interest on April 8, extended the deadline for submission of initial bids to April 12.
As and when the GST comes in, Budget projections will have to be unbundled and revised. In fact, the pragmatic decision would be to present another Budget! This makes the passage of the Finance Bill with its multiple unrelated amendments seem even more dubious, says Devangshu Datta.
State Bank of India hikes lending rates, and other banks pick up the signal.
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
The Employees' Provident Fund Organisation and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
In the 30-share Sensex constituents, 16 ended lower and 14 gained, helping the benchmark indices trim losses.
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
The central bank is the money manager of the government, and not a guarantor of any debt.
A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'Mostly, the relief, if needed, would be for housing loans where a person has lost a job and is unable to pay his EMI or there has been a temporary salary cut.'
In 2015, foreign investors slowed net buying of Indian equities.
This is following revival of demand from the corporate sector and small and medium enterprises (SMEs), even as a nascent economic recovery is taking shape. Credit growth of scheduled commercial banks had accelerated to 9.2 per cent year-on-year (YoY) by the end of December 2021 after breaching the 7 per cent-mark in November, for the first time since April 2020.
Asian Paints was the top gainer in the Sensex pack, rising around 3 per cent, followed by Kotak Bank, Axis Bank, HDFC Bank, Infosys, Reliance Industries and ITC. Broader NSE Nifty rallied 136.15 points or 1.02 per cent to its new record high of 13,529.10.
India has been relatively insulated from the severe headwinds in the West. However, with a third of the global economy expected to slip into recession in calendar year 2023, the impact will strongly be felt on India's exports and trade economy, leading economists said in a panel discussion at the Business Standard BFSI Insight Summit in Mumbai on Wednesday. The panel comprised former Reserve Bank of India executive director and former Monetary Policy Committee member Mridul Saggar, State Bank of India Chief Economic Advisor Soumya Kanti Ghosh, Citibank India Chief Economist Samiran Chakraborty, ICRA Chief Economist Aditi Nayar, and IndusInd Bank Chief Economist Gaurav Kapoor. The topic of the panel discussion was No recession in sight: Is India decoupled from developed economies?
The quarter also saw exits worth $1.9 billion across 37 deals, 59 per cent higher YoY. This was driven by one of India's largest PE-backed IPO exit, the $1-billion partial exit by Carlyle in the SBI Cards IPO.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
C S Ghosh, founder of Bandhan Bank, believes his unique business model is not comparable to any financial institution in India -- neither small finance banks, nor big private sector banks -- and hence the valuations are justified.
High rates of such schemes deter banks from dropping borrowing rates - and thus lending rates
Out of the 30-share Sensex pack, 21 ended lower and one remained unchanged
Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates. The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3 per cent for the current financial year. Last week, the RBI said that the Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
With home loan rates headed north, experts advise how borrowers should cope with their rising liabilities.
The ED was investigating the case for the alleged contravention of the Foreign Exchange Act (FEMA) in transferring over Rs 243 crore out of the country to host the 2009 IPL in South Africa.
The 50-share NSE Nifty gained 53.30 points or 0.61 per cent to 8,778.
