As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
The Reserve Bank of India has imposed caps on inter-bank liabilities from April 1, 2007, as several banks, particularly the smaller ones, have been borrowing heavily to tide over tight liquidity.
The real issue in India is not between Make or Made/Create in India or basic or applied research. We need both. The solution is to create an eco-system where new ideas can flourish and convert themselves into new technologies and products, says Colonel Anil A Athale (retd).
One of the biggest advantages of index funds and ETFs is their low cost, points out Sarbajeet K Sen.
'We never go overboard on any stock, no matter how good it may seem.'
Before you invest, check the fund manager's track record in managing such a strategy, asserts Sarbajeet K Sen.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
Due to tax associations with the fiscal-ending, April is a month of SIP renewal. So, the April numbers will be important and may perhaps, mark a change in retail attitude.
During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
Non-banking financial companies, that used to comprise at least 70 per cent of the issuance in the corporate bond market, are witnessing a credit freeze as investors shun bond issued by lower-rated firms.
In April, the inflows into equity schemes dropped 60% compared to the previous month to Rs 4,608 crore, the lowest since Sept 2016.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
SBI got Rs 1.93 lakh cr in cash deposits from November 10-25.
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stock to last way beyond the three-week nationwide lockdown, as all plants and supply locations are fully operational, Indian Oil Corp (IOC) chairman Sanjiv Singh said.an Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite the loss of his father on the day the 21-day lockdown was declared, said there was no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.
Banks have not cut rates yet as March is typically a busy season.
Any revision in loan rates would be visible next month.
'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
Year 2017 will be a benign year for FII flows into India feels Akash Singhania, deputy chief investment officer, DHFL Pramerica Asset Managers.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
RBL Bank is no Yes Bank. It's not fraught with fraud. It's a story of limitless ambition and greed for growth under a leader who doesn't want to give up, says Tamal Bandyopadhyay.
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
So long as there are concerns about world trade, growth and oil prices, the domestic market will remain volatile.
With time the start-up action plan will need to be tweaked and will need to move in the direction of removing both hurdles and privileges.
The bank said that it has retained interest rate on savings bank deposit at 3 per cent for customers with balances above Rs 100,000. Customers with SB balance up to Rs 100,000 will continue to get the rate of interest at 3.50 per cent despite cut in the repo rate by the RBI earlier this month.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
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 trade-war between the US and China is prompting investors to flee from risky assets, such as equities, to safe-haven bets, such as gold and treasuries
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Normally, kharif sowing of vegetable seeds starts during the first week of May across the country. Farmers start preparing their fields to make them suitable for kharif sowing during the second fortnight of April. Now, however, faced with the lockdown, farmers are in a hurry to clear their fields of rabi crop and prepare for kharif planting. With a normal monsoon forecast this year, they are doing all they can to take advantage of pre-monsoon showers.
India's near-term growth has improved: IMF
Dabba trades also allow investors to avoid SEBI registration requirements or the margin requirements set by exchanges.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
The BRICS Summit tonight decided to establish the new development bank with an initial authorised capital of $100 billion.
In a surprise move, the Reserve Bank on Wednesday left the repo rate unchanged at 7.75 per cent, while the cash reserve ratio too is retained at 4 per cent.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
Being more financially savvy helps women choose the right balance between consumption spending vs investing for future and can hold them in good stead as life hands out various twists and turns along the way, says Piyush Baranwal
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