Industry asked the government to be 'brave and bold' and said that it will rise to the occasion.
India funds have seen almost $1 billion of outflows in the last three weeks, says Brad Durham, MD, EPFR.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
'Both Saina Nehwal and HS Prannoy have been cleared to participate in the ongoing Yonex Thailand Open after the fourth-round tests reports confirmed that both shuttlers have been tested negative for COVID-19.'
India has made a fresh request to Switzerland seeking bank details and names of Indians having unaccounted money in Swiss banks, as the government expands its efforts to combat the menace of black money.
The Reserve Bank on Thursday permitted banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. Bank customers will have to pay Rs 21 per transaction, instead of Rs 20, with effect from January 1, 2022, if they exceed the monthly limit of free transactions. "To compensate the banks for the higher interchange fee and given the general escalation in costs, they are allowed to increase the customer charges to Rs 21 per transaction. "This increase shall be effective from January 1, 2022," the RBI said in a circular.
India's top shuttlers PV Sindhu and Saina Nehwal will be seen in action for the first time since the coronavirus-forced break when they compete in three upcoming tournaments in Bangkok, including the prestigious BWF World Tour Finals.
Indian banks are the 2nd-fastest-growing ones.
For India startups, pulling in the reins now may enable them to live longer - even if it means shedding their unicorn status, says Una Galani.
The Swiss Finance Ministry spokesperson further said the treaty states that "such persons or authorities shall use the information 'only' for such purposes.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
USAID looks forward to working with each to make financial inclusion a long-lasting and sustainable reality in India.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
One Rank One Pension (OROP) will have a significant impact on the country's fiscal bill and the overall cost will be around Rs 16,000 crore.
Though fundraisings for startups still rank amongst the biggest deals struck this year, the average ticket size has fallen sharply, says Una Galani.
'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
Indian parents are willing to make tremendous sacrifices when it comes to educating their children.
Ratnakar Bank to absorb RBS' employees involved in three businesses
"If there is proper debate in parliament, followed by a vote, then even without the Congress' support, we have a chance to pass it," says Union Minister of State for Finance, Jayant Sinha.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
Nearly two million e-mandates for recurring payments have been registered with banks and card networks after the Reserve Bank of India (RBI) made it mandatory from October 1 to take prior consent of a customer before debiting her account, sources in know of the matter said. Industry estimates peg the recurring transactions at approximately 2.5 per cent of the total volume of transactions, and about 1.5 per cent in terms of value. Of these, around 75 per cent of domestic recurring transactions, and about 85 per cent international recurring payments are below Rs 5,000.
Bumper liquidity as a result of global central bank stimulus measures should prevent a sharper downturn.
It has been in force since October 2011.
Tax department has launched 60 prosecutions.
Voicing concern over potential job losses in the United Kingdon, Azim Premji chief of IT major Wipro said a number of large British corporations, including HSBC, Royal and SunAlliance
SpiceJet, India's second-largest private airline, kicked off the process of hiving off its logistics business to its subsidiary SpiceXpress as it looks to raise much-needed capital. On Tuesday, the company sought its shareholders' approval to complete the process and to raise up to Rs 2,500 crore via a qualified institutions placement (QIP). It is in talks with multiple private equity investors as it tries to sell shares in the logistics arm to raise money.
After the crunch period of 2009, the private banking industry, which caters to high net worth individuals, is once again in growth mode.
According to HSBC, the RBI will keep the policy rate on hold next week, although it is likely to cut the CRR by 0.25 per cent to address the lingering liquidity tightness.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
Citigroup's Citibank arm is expanding keenly in India but is wary of taking stakes in local banks because of a cap on foreign equity and limits on voting rights, company officials said
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As many as nine respondents said RBI would hold the repo rate at 8% till March-end, 2015
The monsoon has so far disappointed and if rainfalls do not increase soon it will push up inflation as well as the subsidy bill, further limiting the room for RBI rate cuts, an HSBC report says.
A new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace with effect from January 1, 2018. The funds held by Indians through fiduciaries alone used to be in billions till 2007 but began falling after that amid fears of regulatory crackdown. It is now at second-lowest level in 20 years.
World champion shuttler P V Sindhu on Thursday donated Rs 5 lakh each to the Chief Minister's Relief Funds of Telangana and Andhra Pradesh to fight the dreaded COVID-19 pandemic, which has claimed over 21,000 lives globally. The number of positive cases in India has surpassed the 600-mark, while 13 deaths have been reported so far, prompting the government to put the country under lockdown till April 14 to halt the spread of the virus.
A revival in investment is likely to be a key near-term initiative.
