The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
Tamil Nadu electricity minister was arrested under the Prevention of Money Laundering Act (PMLA), official sources said, making him the first minister in the M K Stalin-led government to face such an action from a central agency.
Noting that various mathematical models meant for predicting coronavirus waves have repeatedly failed to give reliable results due to a small sample size, the Centre on Tuesday said it is closely following the virus trajectory globally, given the emergence of its new variants.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
Corporate social responsibility rules that kicked in on Friday also set a three year time-limit for any CSR project, among a series of other amendments introduced by the government.
Former Prime Minister Manmohan Singh, who is hailed as the architect of economic reforms in the country, is a member of the Parliamentary Standing Committee on Finance, it was announced on Tuesday.
Senior Congress leader Shashi Tharoor on Monday met Sonia Gandhi and expressed his intention to contest the upcoming AICC chief polls, while the Congress president conveyed that she would stay "neutral" in the elections, sources said.
Observing that there is liquidity overhand of Rs 13 lakh crore in the system, RBI Governor Shaktikanta Das said on Friday that the exceptional measures undertaken during pandemic will be dealt in sync with macroeconomic developments to preserve financial stability. Since the onset of the pandemic, the Reserve Bank has maintained ample surplus liquidity to support a speedy and durable economic recovery, he said while announcing the outcome of the Monetary Policy Committee (MPC) meeting. The level of surplus liquidity in the banking system increased further during September 2021, with absorption under fixed rate reverse repo, variable rate reverse repo (VRRR) of 14 days and fine-tuning operations under the liquidity adjustment facility (LAF) averaging Rs 9 lakh crore per day as against Rs 7 lakh crore during June to August 2021, he said.
If implemented after stakeholder consultations, migrant voters do not need to travel to their home district to exercise their franchise.
There is, between Rao's tenure as PM and the current Modi regime, a powerful resonance of how transition can be managed. Rao's tenure saw many scams -- one where he was supposedly approached by Harshad Mehta with a bribe for making the securities scam go away. The Opposition insisted on a JPC. Despite knowing a JPC report would undermine him politically, Rao agreed to one, saying he had 'nothing to hide'.
Six cases of the new COVID-19 Omicron variant have been identified in Scotland on Monday, taking the UK's total to nine following three cases detected in England earlier.
The Sri Lankan government has appointed an advisory committee comprising eminent economic and fiscal experts to provide guidance on addressing the current debt crisis and engaging with the International Monetary Fund (IMF) and other lenders as the country struggles to combat the unprecedented shortage of foreign reserves.
The party last saw a contest for the post in November 2000 when Jitendra Prasada had lost to Sonia Gandhi.
The Delhi Disaster Management Authority (DDMA) on Friday allowed Chhath Puja celebrations at designated sites in the city except the banks of Yamuna river.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
As the COVID wave gradually shifts to rural areas, several states are gearing up to check its spread through self-proclaimed lockdowns by Panchayati Raj institutions, creating a database of migrants and providing free online medical consultation to the sick.
The Income Tax Appellate Tribunal has accepted BCCI's submission that the latter's objective is the promotion of cricket and it enjoys the power of holding IPL for achieving its objective, reports Indivjal Dhasmana.
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
The US on Thursday raised concerns over India's Personal Data Protection (PDP) Bill and draft non-personal data governance framework, claiming these could potentially threaten innovation and economic growth. In its latest 'Special 301' Report, the US Trade Representative (USTR) kept India on the priority watch list, maintaining the country remains one of the world's most challenging major economies with respect to protection and enforcement of intellectual property (IP). In December 2021, a joint parliamentary committee released a report recommending changes to the PDP Bill, 2019, that could undermine important IP protections in India.
The Chaturvedi Committee and the public sector oil marketing companies have suggested that all industrial and commercial establishments including the state transport undertaking and the railways, which are the largest consumer of diesel in the country, should pay for the fuel at the market rate. The public sector oil marketing companies sell diesel and petrol at highly subsidised prices in order to shield customers from the rise in crude oil prices.
The Congress on Sunday announced that elections for its president will be held on October 17 with the winner being declared two days later, asserting that it is the only party in the country which undertakes such a democratic exercise.
'Was the entire place properly sanitised by the police before he was brought out of the prison for this medical check-up?' 'Once he filed a plea in the Supreme Court stating there was a threat to his life, the UP police should have maintained stricter vigilance.'
Leader of Opposition Mallikarjun Kharge and some other members sought that the bill be referred to a standing committee for scrutiny.
Bach's two-day visit to Tokyo is likely to bolster Japan's efforts to stage the Olympics, but will do little to assuage the concerns of a public deeply worried about the spread of the virus.
In his letter to Lok Sabha Speaker Om Birla, Tharoor took strong objection to Dubey's remarks on Twitter that 'the Chairman of Standing Committee does not have the authority to do anything without discussion of the agenda with its members'.
Sending out a clear message to Congress ranks, Sonia said the party will have to change its style of functioning with changing times and urged them to keep the organisation above their personal ambitions.
Senior Congress leader Priyanka Gandhi on Tuesday asserted that her party, if voted to power in Assam, will bring a new law to 'nullify' the Citizenship Amendment Act (CAA) in the state.
An apex committee under DoT Secretary R Chandraskehar has been set up to oversee the required policy decisions and institutional framework for an alliance between the two public sector undertakings which have been incurring losses.
A high-powered probe committee set up by Lieutenant Governor Manoj Sinha visited the site and appealed to the general public to share videos, statements or any other evidence about the incident.
Amway maintains the action was related to a case in 2011 and it has been cooperating with the investigative agency.
These are the highlights of the seventh bi-monthly monetary policy statement for 2019-20 by the RBI amid COVID-19 pandemic:
Seeking to reach out to the fishing community in poll-bound Kerala, Congress leader Rahul Gandhi on Wednesday interacted with the fishermen at Thangassery beach in the district.
James Wilson tracks down discrepancies in the much-hailed demonetisation policy and the subsequent statements of the government and the Reserve Bank of India.
The government should occasionally grant thousands of crores of rupees to Air India for its functioning as withdrawal of flights from profitable routes and unresolved issues relating to its merger do not augur well for the carrier, a parliamentary committee has said.
A report by parliamentary standing committee on commerce noted that Indian industry was getting decimated by China dumping its cheap products in India.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
'The much-awaited decision could be a welcome change at a time when the Indian armed forces are crying for self-reliance and the defence industry is looking forward to more indigenisation,' notes Nitin A Gokhale.
The Supreme Court on Wednesday said that One Rank-One Pension (OROP) in Armed forces is a policy decision and suffers from no constitutional infirmity.
In a report to the Planning Commission, the panel headed by former SAIL chairman S K Roongta suggested at least 30 central PSUs be listed in the next three years, going up to 50 over five years.
