Market regulator Sebi has barred 197 foreign funds, including those managed by global financial conglomerates like HSBC, Deutsche Bank and Standard Chartered, and 342 sub-accounts from further trading in stock market.
Contract does not provide for retrospective penalty for 'such' acts
The net proceeds of the fund raising will be used to repurchase certain equity shares issued to Tata Motors and for general corporate purpose.
Analysts welcomed the better Q2 GDP readings of 4.8 per cent, which came in above their expectations, but warned that the planned expenditure cuts by the government will be the key thing to watch out going forward.
India may have provided the fodder to the US tax evasion probe on some clients of HSBC Holdings, with respect to their accounts in the sub-continent nation, according to a finance ministry source.
The November trip to India by United States President Barack Obama will be another clear statement of American support and commitment to the US-India relationship, Secretary of State Hillary Clinton has said.
Growth in export orders also eased marginally at the end of 2010, after registering a record rise in the previous month. However, the growth remained strong and comfortably above the historical trend.
Credit Suisse said $5.6 may work for Reliance Industries' R-Series gas field in the KG-D6 block but the economics for its satellite fields and NEC-25 block are uncertain.
Retirement fund body EPFO on Wednesday said its corpus of about Rs 3.5 lakh crore will now be managed only by one of the existing fund manger, SBI, for a three month period ending June 30 as an interim arrangement.
After the crunch period of 2009, the private banking industry, which caters to high net worth individuals, is once again in growth mode.
For the first time in more than five years, Tiger Woods became reacquainted with life away from the number one spot in the official world rankings.
Stuart A Davis, the chief executive officer at HSBC India, expects the Reserve Bank of India to increase repo and reverse repo rates by 25 basis points in its quarterly monetary policy review on July 27, as concerns over accelerating inflation and uncertain monsoon linger.
The total money of Indians fell by 45 per cent during 2016 to CHF 675.75 million, marking the biggest ever yearly decline in such funds.
HSBC India has announced a new home loan package offering to pay back part of the interest to borrowers. Yes, like the foreign bank claims, it is a first in the home loans business. But if one takes a careful look, it might not be such a big deal after all.
Goldman says the downgrade reflects the more difficult external funding conditions for Asia as markets increasingly anticipate Fed tapering and eventual exit from unconventional monetary policies.
The index, based on a survey of 500 companies, rose to 57.2 in October from 55.1 in the previous month and 57.2 in August. October was the 19th consecutive month in which the index has risen.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
Terming the RBI action on Wednesday as a "pleasant surprise", analysts today cautioned that possibility of a rate hike in the future cannot be ruled out. Urijit Patel committee's report on monetary policy would clear the air on RBI's future stand, they added.
An increasing number of Indians want to increase their savings in the next six months to meet retirement goals and to build up emergency funds, a survey has revealed.
Out of these, no balance has been found in case of 289 accounts
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.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
A survey by five brokerage houses -- SBICap Securities, Angel Broking, ICICI Securities, Motilal Oswal and HSBC Securities -- reveals that after a volatile calendar year which saw input costs rise to record levels in the first half and then fall dramatically in the second half, FMCG companies will now see the benefit, as it usually takes a quarter for falling costs to show in the results.
Regular recruiters such as Deutsche Bank, HSBC Global Research, Standard Chartered Bank, Axis Bank, Yes Bank, FuturesFirst, Johnson and Johnson, ITC, Deloitte Innovation, Knightfrank, Larsen and Toubro, Jindal Steel and Power Corporation, Infosys and CTS among others continued their relationship with the institute this year also.
Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
"Any lingering concern that India's manufacturing recovery was tailing off should be put off. A second consecutive rise in PMI has taken the series to a new cycle high consistent on double digit rise in industrial production," said Robert Prior Wandesforde, senior asian economist, HSBC.
Deutsche Bank could be the next to trim its retail operations.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
About one-fourth of the Indian population is without pension coverage and only 13 per cent of the country's paid employees are under formal pension arrangement, a survey has found.
Major global banks such as Standard Chartered, Barclays and HSBC have paid lesser amounts in advance tax in the third quarter of this fiscal compared to the year-ago period, while the domestic banks have paid higher amounts during the same period.
A summary of sports events and persons who made news on Friday
The churn in investment banks, though less muted than in the heydays of 2007, is gathering speed. "The pent-up desire to move is very high at the moment," says R Suresh, managing director at head hunting firm Stanton Chase.
Jyoti Randhawa shunned aggression for caution and carded a second successive two-under 70 for a share of the sixth spot after the penultimate round of the WGC-HSBC Champions golf tournament in Shanghai on Saturday.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
Just another golfer in his rookie season till some time ago, caddie-turned-pro C Muniyappa is finding it hard to believe that he will rub shoulders with greats like Tiger Woods and Phil Mickelson in the WGC-HSBC Champions starting in Shanghai on Thursday.
Customers will be offered five free third-party withdrawals per month.
Advocate Prashant Bhushan, who is one of the petitioners in the black money case, makes a case for the revelation of all the names of account holders that the government has submitted to the Supreme Court.
Shree Rama Multi Tech Ltd said Company Law Board dismissed a petition filed against the company by HSBC Private Equity India Ltd, a foreign equity investor.
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
'If businesses are focused on de-leveraging, they can hardly be investing. This is the price extracted by investment mistakes during UPA rule, and should have been foreseen. 'But Modi-I must share the blame, for muted reform of the financial sector, partisan policy in telecom, the harm done to exports by an over-priced rupee, and so on,' says T N Ninan.
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