The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
The ceremony to inaugurate the new Parliament building will begin with an early morning havan and a multi-religion prayer on Sunday followed by a formal opening in the Lok Sabha chamber by Prime Minister Narendra Modi.
Both the BJP leaders in their notices to Lok Sabha Speaker Om Birla have alleged that Gandhi's comments were baseless and that he made "contemptuous, unparliamentary and dishonourable" allegations.
Grasim Industries has announced a rights issue of around Rs 4,000 crore with the promoters committed to fully subscribing to their entitlements and to covering any unsubscribed portion. This is to part-fund capital expenditure (capex) of Rs 10,000 crore in a new foray into the paints business. The company has already invested Rs 3,640 crore in the paints business (by Q1FY24). The management has outlined a capex of Rs 5,700 crore for FY24, which includes Rs 4,280 crore allocated for the paints business, of which Rs 1,050 crore has already been spent in Q1FY24.
100 years ago, Dr Annie Besant was interned by the British in a bungalow in Ooty.
Opposition leaders have slammed the Bharatiya Janata Party over its Lok Sabha member Ramesh Bidhuri, who is in the eye of a storm for his derogatory comments against Bahujan Samaj Party MP Danish Ali, being given poll responsibility by the party in Rajasthan's Tonk district.
A few hundred gold coins of Maurya Gupta and Mughal eras and gold artefacts, which could be worth several hundred crores, were recovered from a hidden strongroom in the house of late Priyamvada Birla.
A plea has been filed in the Supreme Court seeking a direction to the Lok Sabha secretariat for inauguration of the new Parliament building by President Droupadi Murmu.
Bharatiya Janata Party (BJP) MP Nishikant Dubey on Wednesday wrote to Lok Sabha Speaker to move a breach of privilege motion notice against Congress leader Rahul Gandhi a day after his speech in Lok Sabha where he made certain allegations about Prime Minister Narendra Modi and his association with industrialist Gautam Adani.
The sale of the Lincoln House in the Breach Candy area of south Mumbai, which used to house the US consulate, to the billionaire chairman of the Pune-based Serum Institute, makes it the largest real estate deal in the country's financial capital.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Joshi said, "(BJP leader) Nishikant Dubey issued a notice to Rahul Gandhi for making baseless allegations (against the PM). What they say has to be supported with evidence but they haven't produced any. We all are answerable to the people of this country. This time action will be taken on this notice."
Highly-rated finance firms and housing finance companies are expected to benefit from the absence of Housing Development Finance Corp (HDFC) from the bond market once it merges with the HDFC Bank in early FY24. Post merger, the bond market is expected to become less crowded, which will ease fund raising conditions for other players in the field. It may perhaps also compress the spread for debt instruments floated by housing finance companies (HFCs) over 10-year government bonds, subject to demand and supply conditions.
"If you don't take care of the parliamentary practices, then how will the parliamentary process strengthen? My endeavour is that all members get adequate time to raise their issues and give them their due respect."
'Whoever is questioning the government on the Adani issue is being harassed'
Opposition protests over the Pegasus snooping row, farm laws and other issues had continuously marred the proceedings since the start of the session on July 19.
TV Today stock rises 15.23% on sale buzz
This is the fifth consecutive day that the Parliament has been adjourned without transacting any business since the second part of the Budget session began on Monday due to uproarious scenes in the House.
As soon as the Question Hour ended, Congress' Leader of the House Adhir Ranjan Chowdhury demanded that a discussion on the 'Indo-China border situation be held', saying late Prime Minister Pandit Jawaharlal Nehru had allowed a discussion in Lok Sabha on the India-China war in 1962.
Gandhi and Birla, in spite of their closeness, too differed.
A sixth arrest has been made in the Parliament security breach case -- Mahesh Kumawat from Rajasthan's Nagaur who was allegedly in contact with the other accused for the last two years for hatching the conspiracy and had destroyed their mobile phones to get rid of the evidence, police said on Saturday.
Over the last 50 years, the number of sittings of Parliament has been declining and has halved since the 1950s and the 1960s, the report stated.
Maybe, the need for secrecy may have tied the government's hand from sharing details in Parliament. Still, it should consider the need of sharing the utmost within any consultative committee, so that relative secrecy is still maintained. But such a course should involve the prime minister or home minister, as it is much more serious than is being made out to be, argues N Sathiya Moorthy.
The 91-year-old expressed his joy, saying he never thought that he would sit in a new Parliament building in his lifetime.
The inauguration new parliament building will take place in two phases.
Parliament was adjourned for the day on Wednesday due to uproar by the Opposition members over Lakhimpur Kheri killings in Lok Sabha and the suspension of 12 members in Rajya Sabha.
The old Parliament building will now be known as 'Samvidhan Sadan', Lok Sabha Speaker Om Birla said on Tuesday as the functioning of Parliament shifted to its new building in New Delhi.
However, members requested the government and the presiding officers of both the House to end the proceedings early citing the festive season and New Year celebrations ahead.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
On Friday, Biden announced his intent to appoint 14 people to the advisory committee, which provides overall policy advice to the United States trade representative on matters of development, implementation, and administration of the US trade policy.
More than five questions and supplementaries, mostly related to agriculture and horticulture, were taken up before the proceedings were first adjourned till noon. The Question Hour went on for nearly 40 minutes.
'With one more year remaining in the term, and 58 average sitting days a year, the 17th Lok Sabha is unlikely to sit for more than 331 days.' 'This could make it the shortest full-term Lok Sabha since 1952.'
The Opposition intensified its noisy protests in Lok Sabha on Wednesday over Pegasus snooping, farm laws and other issues with some unruly members even hurling papers and torn placards in the House, but the government went ahead with its legislative agenda and three bills were passed amid the din.
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
Congress leader Rahul Gandhi on Sunday said that the President should inaugurate the new Parliament building and not the prime minister.
Taking to Twitter, AAP's Sanjay Singh shared a video of leaders greeting President Kovind at the farewell ceremony in the Central Hall of Parliament.
In a letter to Birla, Karti Chidambaram also said that over the course of the past few years, his family and he himself have become targets of a 'relentless campaign by the present government and its investigating agencies which are trying to silence our voices of dissent by foisting one fake case after another'.
It is thanks to the policy of liberalisation conceived by Manmohan Singh and enforced by P V Narasimha that the Indian economy has now become the world's 5th largest economy by nominal GDP, asserts Dr Sudhir Bisht.
Lok Sabha proceedings were washed out for the second consecutive day on Wednesday after the House was repeatedly adjourned due to protests by opposition members who were demanding a separate discussion on the farm laws issue.
Congress leader Adhir Ranjan Chowdhury on Tuesday sought to give credit to his party for the women's reservation bill but Home Minister Amit Shah refuted his claim, saying that the legislation brought by the Manmohan Singh government had lapsed following the dissolution of the 15th Lok Sabha.
