The apex body also advised "teams and participants entering tournaments during the European and Asian legs" to "not return to their home countries as many would then have to undergo a 14-day quarantine period upon their return."
The policy will be presented in the backdrop of rising inflation.
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.
It is a diversified equity fund, which offers investors an opportunity for saving tax by providing Section 80C benefits.
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.
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.
'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.'
The Hyderabad Open badminton tournament, scheduled to be held from August 11 to 16, was on Thursday cancelled by the world body BWF in view of the coronavirus pandemic. The event was part of the BWF's revised calendar to restart the sport after the pandemic-forced cancellations since March.
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.
India's manufacturing expanded at a faster pace than China
Reserve Bank of India has turned down Hongkong and Shanghai Banking Corporation Ltd's plans to pick up about 20 per cent stake in UTI Bank by restricting its approval for acquisition of only 14.6 per cent stake
Swiss banks seek fresh undertakings from Indians.
Although growth picked up slightly across the world's main emerging markets on an average, rates of expansion remain subdued
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The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, continued its upward trajectory in November on the back of faster manufacturing growth.
The headline HSBC Services Business Activity Index was at a 17-month peak of 54.4 in June rising from a modest 50.2 in May, HSBC said adding that 'the Modi wave has struck the service sector'.
The foreign lender's profit after tax was Rs 2,960 crore
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.
Private sector output in India expanded for the first time in 8 months in February as slump in the services sector moderated and manufacturing grew at a stronger pace, an HSBC survey said.
Indian parents are willing to make tremendous sacrifices when it comes to educating their children.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
The pace of economic growth in emerging markets continued to revive from the stagnation seen earlier in the year.
The HSBC India Services Business Activity Index, that tracks changes in activity at Indian services companies on a month-by-month basis, fell from 51.6 to exactly 50.0 in October.
The index has remained above the 50-mark, below which it indicates contraction, for more than three years now.
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.
It was Sindhu's third successive loss to Marin, who had won both the Super 1000 events in Thailand in January before finishing runners-up at the HSBC BWF World Tour Finals.
HSBC's services purchasing managers index, that maps the activity of around 400 firms, despite a 40 basis points dip, has kept above the 50 mark that signifies growth since November.
New business orders fall at faster pace, with index at 47.6 in March from 49.5 in February.
Tax department has launched 60 prosecutions.
'Spends are likely to increase from the current levels because recovery is yet to fully be over.'
According to the annual HSBC 'Value of Education Learning for Life' report, India has the world's highest proportion of parents (88 per cent) who are willing to send their children abroad for higher studies, ahead of Turkey (83 per cent), Malaysia and China (82 per cent each).
After contracting for 3 consecutive months, manufacturing activity saw an uptick in November, latest data from the HSBC Purchasing Managers' Index shows.
Exports of high-tech products will grow more quickly than exports of other goods over the next 15 years as emerging Asia moves away from being a low-cost production hub for foreign brands and toward developing value-added local products, according to research from HSBC.
The HSBC India Composite Output Index, which maps both services and manufacturing, increased from 48.9 in March to 49.5 in April, but remained below the crucial 50 mark which indicates contraction for the second successive month.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
The Indian team, comprising Olympic hopefuls PV Sindhu, Saina Nehwal and B Sai Praneeth, have been allotted training timings. The players also had their first gym session in the afternoon.
The HSBC India Manufacturing Purchasing Managers' Index for the manufacturing industry climbed from 49.6 in October to 51.3 in November on the back of a rebound in new orders and output.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
Chances of a rate cut in April improve if core inflation continues to ease, growth falling below the projected 7.2% for FY19 and if the global trade slowdown exacerbates.
Of the BRIC (Brazil, Russia, India and China) economies, China, Russia and Brazil posted sharper increases in activity, but India registered a fourth successive decline in output.
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