The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
After three consecutive years of infusing huge funds, foreign portfolio investors retreated from the Indian equity markets in a big way in 2022 with the highest-ever yearly net outflow of nearly Rs 1.21 lakh crore. The huge outflow, which surpasses by a big margin the previous record of Rs 53,000 crore net withdrawal in 2008, came amid aggressive rate hikes by central banks globally but 2023 is expected to be better on positivity about overall macroeconomic trends in India, experts said. Apart from global monetary tightening, volatile crude, rising commodity prices along with Russia and Ukraine conflict led to an exodus of foreign money in 2022.
It shows that states would require a compensation to the tune of at least Rs 1.67 trillion in 2024-25, as none of them would be able to achieve a 14 per cent growth every year.
Apart from physical stores, the company operates 2,700 digital touch points in the form of web pages, which is gaining good traction from tier-II and III centres.
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
The National Consumer Disputes Redressal Commission, while setting aside the Punjab state commission's order, asked the Chandigarh branch of the Life Insurance Corporation India to pay the sum along with compensation Rs 25,000 and litigation cost Rs 5,000 within 45 days to Punjab-resident Neelam Chopra.
Lenders now use your phone data, utility bill payment records and other non-traditional parameters to determine if you are creditworthy.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
Mathai George George Muthoot joined the family business as an office assistant and in 1979 he became the managing director and group chairman in February 1993.
Nehal, 41, is charged in a New York Supreme Court indictment with Grand Larceny in the First Degree, Manhattan District Attorney Cy Vance, Jr. said.
Spending money to make this day special is the easiest way out, but also very predictable and boring. Some creative thinking and you can indeed spend less money and have more fun!
With unlimited youthful energy, a capacity to earn more and wonderful years ahead of them, students definitely need to learn about handling money matters early in life. Here's a good starting point
Though another 75 candidates are in the fray, the Elangovan-Thennaruasu fight has become a prestige battle for the DMK and AIADMK, points out N Sathiya Moorthy.
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The Reserve Bank has asked troubled digital wallet firm MobiKwik, which is facing data breach allegations, to get a forensic audit done without any delay. Though the Gurugram-based firm has been claiming that its systems are secure and that there is no basis to the allegations of data breach, a group of hackers on Tuesday said that they accessed personal and financial data of nearly 10 crore MobiKwik customers. On Wednesday, sources in the know of the development told PTI that the RBI has ordered an immediate forensic audit of the company's systems by a certified auditor. When contacted, an RBI spokesperson refused to comment. MobiKwik refused to give a direct answer to a query on whether the RBI has ordered a forensic audit.
Experts at coding, Web development, and digital marketing, will be on every organisation's hiring list, points out Narayan Mahadevan.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
The temptation to get into businesses that are hot is perhaps too great for any politician, no matter what his public slogans are. Nehru plunged into hot sectors of his time -- engineering and iron and steel. Modi has plunged into digital payments -- the hot sector of his time, notes Debashis Basu.
India already allows 100 per cent ownership of greenfield pharma businesses.
The agency has written to the Interpol to issue a Red Corner Notice which would mean that the member countries of the Lyon-based international police cooperation agency can arrest and extradite Nirav Modi
It had been pointed out to the banking regulator that one-day default was difficult to monitor in large companies, especially where cash flows are dependent on government payments.
After a stellar run in 2021 that saw the S&P BSE Sensex and the Nifty50 clock gains of 20 per cent and 22 per cent respectively, global equity markets, including India, are gearing up to welcome 2022 on a cautious note. For one, new variants of the Covid -19 infection that make current vaccines less effective is one of the key risks worth flagging, analysts said. Inflation was also a risk for this asset class in 2021, although most market participants expect that the current elevated inflation levels will be transitory.
In all, 292 allegedly fraudulent LoUs and 224 foreign letters of credit were generated and money sanctioned to Nirav Modi's companies since 2011
Born in poverty and subjected to inhuman abuse, Kalpana Saroj overcame all hurdles to emerge a success story.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
A GST roll-out by April 1 looks difficult, giving the companies some succour.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
Telecom regulator TRAI on Tuesday suspended the newly-implemented norms for commercial text messages for one week, following major disruptions in SMS and OTP deliveries for banking, payment, and other transactions.
Each scam that comes out in the open shows the regulators to be miles behind.
'There is a weak link between the economy and the stock market.'
By the time the security failure is discovered and fixed, the damage is already done. A CIO survey by Forcepoint and Frost & Sullivan found that 69 per cent of Indian organisations were at risk of data breach. Whenever there is data breach, there is a potential disaster waiting to happen.
In a blogpost, Adobe said its security team discovered sophisticated attacks on its network, involving the illegal access to customer information as well as source code for numerous Adobe products.
The broad contours of their assignment are expected to be making independent assessment of recovery prospects, and estimating haircuts for restructuring cases.
Sebi on Friday imposed a penalty of Rs 50 lakh on Kotak Mahindra Asset Management Company (AMC) and barred the fund house from launching new fixed maturity plan (FMP) scheme for six months for violating regulatory norms. The markets regulator has directed the fund house to refund a part of the investment management and advisory fees collected from the unitholders of the six FMP schemes along with a simple interest at the rate of 15 per cent per annum. The case relates to the fund house's investment in certain FMPs. These FMPs of Kotak AMC had invested in Zero Coupon Non-Convertible Debentures (ZCNCDs) issued by Essel Group entities.
The Department of Commerce alleged that Huawei was engaged in activities that are contrary to US national security or foreign policy interest.
