In its order that rejected a proposal by NCDEX to slash the transaction charges in its evening session of trade, FMC said the exchange's settlement guarantee fund has fallen to meagre Rs.5.05 lakh at the end of calendar year 2008. Performance audit done by the auditors at the behest of FMC shows that the exchange also earned an interest of Rs.24.87 crore on this fund during March 2004 to March 2006.
The Finance Act, 2020, has inserted a sub-section, mandating a seller to deduct tax equal to 0.1 per cent of sale proceeds if the value of goods sold exceeds Rs 50 lakh in a financial year.
In a bid to make primary markets more efficient, the Securities and Exchange Board of India on Saturday said listing time gap would be reduced further from 6 days after the IPO currently, while listing will be allowed for security receipts issued by asset reconstruction company.
Prime Minister Narendra Modi on Saturday released Rs 20,946 crore to 10.09 crore farmers across India as the 10th installment of financial aid under the PM-KISAN scheme and said there was a need for innovation in agriculture along with promotion of natural farming. Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, a financial benefit of Rs 6,000 per year is provided to the eligible farmer families, payable in three equal installments of Rs 2,000. The PM-KISAN scheme was announced in the February 2019 Budget.
Chokshi and Chokshi, which was given December-end deadline to complete the audit of e-series contracts at NSEL, had sought extension to finish the work.
Unlike mutual funds, an ETF trades like a common stock.
NSEL, promoted by Jignesh Shah-led Financial Technologies (India) Ltd, is facing the problem of settling Rs 5,500 crore.
The National Commodity and Derivatives Exchange Ltd has launched a web based e-learning platform on it portal to provide a wide array of information to farmers and other commodity market participants.
The majority of global equity trading and a significant proportion of trading in bonds, currencies, commodities and derivatives, is done on electronic platforms
The government has reopened the case for convergence between the capital market and commodity futures regulator, a move that has attracted opposition from the Forward Markets Commission, which regulates the commodities futures business.
Hope floats for higher trading volumes; warehousing and cold chain facilities get tax incentives.
The Over-The-Counter (OTC) markets are essentially spot markets and are localised for specific commodities. Almost all the trading that takes place in these markets is delivery based.
'India is a pharma dada. We can manufacture enough for our people and for the world.'
India plans to launch trading of government bond futures within the next two months as part of efforts to deepen its financial markets, according to several sources involved in the discussions with the central bank.
All the principal markets including commodities, stocks and forex will remain closed on Friday, August 15, on account of Independence Day
The rise was on account of robust volumes in gold, silver and energy.
Funds collected by the mutual fund will be invested in gold and hence the net asset value of the ETF will be largely dependent upon price of gold minus the administrative costs of the AMC and the mutual fund.
The industry is expecting double-digit growth on a year-on-year basis, helped by a possible price correction after softening of raw material inputs and factors such as positive sentiments, pent up demand and improving economic conditions. Besides, a shift in consumer behaviour from price consciousness towards technologically advanced premium products with quality, value proposition and safety aspects leading to a rise in demand for home automation products is making the industry upbeat. With the government's production linked incentive (PLI) scheme for white goods, which has witnessed a committed investment of Rs 4,614 crore, in place, many manufacturers are gearing up to make the most out of the opportunity as well as take steps towards reducing their dependency on imports and make products more affordable.
Investigation to be over by weekend, Mumbai police EOW to lodge FIR thereafter.
Reliance Retail's shareholders will get one share of its listed parent, Reliance Industries, in exchange for every four shares, according to the scheme of arrangement.
Despite the low prices, commodities are risky investments
Historically, tensions in West Asian regions have provided support to gold prices.
HDFC Bank was the top gainer in the Sensex pack, rallying nearly 4 per cent, Infosys jumped over 3 per cent. Sun Pharma, NTPC, HCL Tech, Tech Mahindra, HDFC, RIL and TCS also closed with gains. On the other hand, Axis Bank was the top laggard, followed by ITC, ICICI Bank, IndusInd Bank and Maruti Suzuki.
'You should always maintain an allocation to gold as it has the ability to counterbalance any correction in the equity market.'
For several years the Chinese authorities have been taking steps to internationalise the use of the yuan.
'We expect the bull run to continue until economic growth continues.'
The regulator has doubled the deposit money that a trader is required to keep with exchanges for trading in turmeric following unusual price movement.
'Gold could benefit from the resulting risk aversion, as happened last year.'
Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
In an effort to make awareness among farmers about the benefits of Futures trade in commodities, NCDEX and Forward Market Commission jointly organised an awareness programme here recently.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
FMC has been asked to go ahead with the appointment of 20 experts, which the commission had sought earlier.
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
Barring bullion, all other commodity markets as well as forex and money markets, the Bombay Stock Exchange and the National Stock Exchange remain closed on Tuesday on account of Mahavir Jayanti.
The Securities and Exchange Board of India, which had earlier rejected the MCX-SX's plea, was asked by a bench of justices Aftab Alam and C K Prasad to reconsider it within three months.
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Sebi keen to attract larger number of retail investors
Bajaj Finance was the top laggard in the Sensex pack, slumping over 10 per cent, followed by M&M, Titan, Hero MotoCorp, ICICI Bank and Tech Mahindra. On the other hand, L&T, Bharti Airtel, IndusInd Bank, UltraTech Cements and NTPC were among the gainers.
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Amidst debate over control of Jet Airways post UAE's Etihad buying stake, the RBI on Thursday notified FDI guidelines defining control of a company, saying that a firm will be said to be controlled by non-residents if they have powers to appoint majority of the directors.
In a fresh development in NSEL's Rs 5,600 crore scam, the Enforcement Directorate (ED) on Monday registered a preliminary inquiry into the payment crisis, suspecting large-scale money laundering in the beleaguered spot exchange, a senior official said.
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