The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
Official GDP data for the second quarter of the current fiscal year ending March are due to for release this Friday.
Valli Arunachalam had alleged that the group promoters have a gender bias against women getting into the family business and, hence, she and her sister were denied a berth on AIL's board.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.
Setting aside Sebi's direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders' meeting on Tuesday to consider the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal. The ruling comes hours after PNB Housing Finance informed stock exchanges that it has appealed against Sebi's direction on June 18 wherein it was asked to defer consideration of the proposed capital infusion proposal till a valuation of the company's shares is done by a registered independent valuer.
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
Highly-placed sources in the government say that none of the senior ministers had any inkling of Patel's resignation
The government has made it much harder for tycoons to get special dispensations from Delhi
Addressing a rally in Suratgarh town of Ganganagar district, a day after declaring his party would roll out the scheme if voted to power, Gandhi alleged that Prime Minster Narendra Modi gave money to the rich and top industrialists of the country, but the Congress would serve the poor.
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
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RBI's forex swap window for oil marketing companies addresses an urgent issue but what happens when the dollars have to be returned?
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
'There are lots of low hanging fruits and often no real impediment to plucking them.'
Most say a rate cut could come in RBI's June policy.
Jaitley said note ban has compelled people to deposit money into bank accounts.
The inter-meeting rate cut by the Reserve Bank of India (RBI) indicates a shift in its monetary policy stance, the finance ministry's chief economic adviser Arvind Subramanian said on Thursday.
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
The chairman of Parliament's Public Accounts Committee, K V Thomas, on Monday said a meeting with finance ministry officials has been deferred to February 10 in view of the Budget preparations.
For India, Fitch Ratings has 'BBB-' rating.
Political funding of elections has led to the rise in black money in the economy.
Rangarajan said that growth has many dimensions to it.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
Prime Minister Modi felt there were too many silos with no arrangement to take a comprehensive view on national security. The PM has entrusted NSA Ajit Doval to evolve a comprehensive roadmap and get it implemented, reveals Nitin Gokhale, Editor-in-Chief, Strategic News International.
In his new role, Subbarao will take part in various activities at NUS Business School, the Institute of South Asian Studies and the Monetary Authority of Singapore.
'This is happening regardless of the Budget.'
Private players offer convenience for slightly higher rental than banks.
With a net worth of $12.6 billion, Mistry is well known for constructing some of Mumbai's landmarks such as the Reserve Bank of India headquarters, The Taj Mahal Palace and Towers, and the Oberoi Hotels
Exports to Europe shrank by near 2 per cent in the 11 months.
A picture released by the federal agency showed bundles of seized Rs 500 currency notes along with a few in the denomination of Rs 2,000 and Rs 200 stacked together on a bed.
Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, writes Tamal Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, says Tamal Bandyopadhyay.
Among the other names tipped to make it to the Cabinet are Jyotiraditya Scindia, Sarbananda Sonowal, Baijayant Panda.
Progress on the steps taken by Governor Shaktikanta Das' predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution, Subramanian said.
Whereas the headline growth rate appears very respectable, India needs faster to growth to generate jobs.
T C A Srinivasa-Raghavan recalls a tussle between the government and RBI when Rajiv Gandhi was prime minister and how it was resolved.
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