Finance Minister Nirmala Sitharama on Thursday stated the government is planning to provide a relief package of Rs 1.7 lakh crore to the underprivileged, poor and migrant workers affected by the lockdown amid the coronavirus outbreak. The scheme has been named the Pradhan Mantri Garib Kalyan Scheme.
'We will infuse the next tranche of recapitalisation by mid-December. Close to Rs 42,000 crore remain to be infused as capital in public sector banks in the current financial year,' a senior finance ministry official said.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
With this, total inflows have reached Rs 3.98 lakh crore in the first 11 months of the current fiscal (2016-17). In comparison, Rs 2.07 lakh crore was invested in various mutual fund products during April-February period of 2015-16.
Is looking to raise Rs 3,000 cr.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
The Reserve Bank Officers Cooperative Credit Society, which caters to the credit needs of RBI officers posted all over India, has a fixed deposit of Rs 105 crore in the bank on which the RBI has placed various curbs for six months following revelations of irregularities.
The minister, who made an aerial survey of badly affected areas in Idukki and Ernakulam districts, said the rains and floods had caused 'massive damage' to the farm sector and infrastructure like roads and power.
At the BSE, 1,879 companies declined, while 685 advanced and 131 remained unchanged.
During the first quarter ended June, gross tax collections fell 31 per cent driven down by a massive 76 per cent plunge in advance tax mop-up, as the country was in a full lockdown due to the pandemic.
Bajaj Auto has amended its dividend distribution policy as it seeks to reward its shareholders and boost return ratios. The amended policy will also consider the surplus the company has when calculating the dividend payout as a percentage of profits after tax, the Pune-based firm said in a stock exchange filing on Thursday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
HR Guru Mayank Rautela offers practical advice.
What could be more uncertain than Virat Kohli's agonising wait for a century for over two years? Perhaps it's what you will pay tomorrow morning to fill your vehicle's tank. Pump prices have joined cricket scores as the country's favourite discussion topic. Steep increases invite widespread protests, while moderate additions make the government anti-reformist. The ongoing fuel price conundrum is no different.
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The general public is allowed to travel in the suburban trains from the time of start of services for the day till 7 am, from 12 noon to 4 pm, and from 9 pm till the closure of services for the day.
Rishad, who joined the company in July 2007, is currently chief strategy officer of the Bengaluru-based company.
Finance Minister Nirmala Sitharaman said: "This will cover 99.3 per cent of the companies. Now only 0.7 per cent of companies will remain outside this rate."
Congress' senior spokesperson Anand Sharma Sharma said Prime Minister Narendra Modi must 'walk the talk' and announce the measures required by giving money in the hands of the poor and small and medium enterprises to help reboot the economy.
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Senior government officials said the company would be allowed a harmonious exit.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
"Lot of misinformed speculation is going around in media. Government's fiscal math is completely on track. There is no proposal to ask RBI to transfer Rs 3.6 or 1 lakh crore, as speculated," Economic Affairs Secretary Subhash Chandra Garg tweeted.
Diageo, under a share purchase agreement (SPA) with UBHL and various other sellers, had acquired 21,767,749 shares (14.98 per cent) in USL
She has been in custody as an undertrial since her arrest in 2018.
The 61-year-old saffron clad BJP leader is the 19th accused to depose before the court in the over 27-year-old case. 13 other alleged accused, including former deputy prime minister LK Advani and senior BJP leaders MM Joshi and Kalyan Singh are yet to be examined at this stage.
There was broad-based rally with participation across sectors creating enormous wealth for investors but starting 2018, the rally got concentrated into select large-cap companies with under performance in broader markets.
Nearly 400 stocks hit their 52-week low on BSE on Thursday.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
The net collections for Corporate Income Tax (CIT) showed a growth of 19.2 per cent and Personal Income Tax (PIT) at 18.6 per cent.
Thomas Cook India's internal data had highlighted Lucknow region as a high potential source market for holiday business.
Vodafone Idea and Airtel have made provisions for their liabilities arising from the Supreme Court order in their latest September quarter results.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
HR Guru Mayank Rautela offers practical advice.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
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