The rupee depreciated 22 paise to a record low of 78.59 against the US dollar in opening trade on Tuesday as persistent foreign funds outflows weighed on investor sentiments. At the interbank foreign exchange, the rupee opened on a weak note at 78.53 against the American dollar, then lost ground to quote at 78.59 -- its all-time low level, registering a fall of 22 paise from the last close. On Monday, the rupee declined by 4 paise to close at its life-time low of 78.37 against the US dollar.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
Even as FIIs have pumped in $15 billion in 2013, key indices have declined 3%.
Portfolio investors based out of the US and other countries with which India does not have favourable tax treaties will have to pay a 15 per cent tax on their derivative transactions, after the Budget decided to classify income from all foreign portfolio investment as capital gains.
The Chinese government is imposing severe restrictions on their tech companies - whether it is on data security, marketing practices or floating an IPO. Should this be music to the ears of Indian start-ups and home-grown private equity (PE) funds? Ask Indian start-ups and the answer is a resounding "yes".
There is confusion over the United Kingdom government's vaccine recognition process for Indian travellers as even though Oxford/AstraZeneca Covishield, the India-manufactured Oxford/AstraZeneca COVID-19 vaccine, is on an updated international travel advisory, India is not yet on a list of 17 approved countries.
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
Diplomats agree that amid stormy relations with China and Pakistan, Modi has posted impressive foreign policy successes, notes Aditi Phadnis.
EOW's superintendent of police Devendra Singh Rajput told PTI that Singh was produced before the court after his arrest.
As the Narendra Modi government nears completing a year in office, the Congress on Wednesday stepped up its offensive against the prime minister accusing him of weakening democracy by running a "one-man show" while scoring maximum on "arrogance" and minimum on governance.
Equity benchmark indices ended flat on Wednesday with Sensex sliding 33 points and Nifty gaining 9 points after an unabated record-breaking rally in the last few trading sessions. Weak global market trends and fall in HDFC twins also spoiled markets party. The 30-share BSE Sensex dipped 33.01 points or 0.05 per cent to settle at 65,446.04.
Most large fund houses, such as HDFC MF, ICICI Prudential AMC, Reliance MF, Reliance MF, Birla SunLife MF and SBI MF, have the backing of large banks or financial institutions, giving them reach and understanding, they say.
Union minister Smriti Irani reacted furiously to the Congress leader's barb at the prime minister over the Rafale purchase and the tense situation in Manipur.
Since 2000-01, the Indian economy has shown the tendency of being unable to absorb all domestic savings as investments.
Take an education loan. Encourage them to freelance while studying.
Norms for e-commerce likely, arm's-length pricing set for change.
Of the amount, the home-grown private equity player founded by Renuka Ramnath plans to deploy $8 billion in various companies as part of its blueprint for growth.
The Army on Monday commemorated the 75th anniversary of the International Day of UN Peacekeepers by paying homage to the fallen soldiers at the National War Memorial in New Delhi.
The volunteering students are studying in China, Uzbekistan and Philippines.
The guidance is certain to cause severe anxiety and uncertainty for the hundreds of thousands of international students who are studying in the country and for those who were preparing to arrive in the US to begin their education when the new academic session begins in September.
Vijay Keshav Gokhale's tenure as foreign secretary promises to guide India's external affairs along paths never taken before, says K P Nayar.
Only the future will tell if Modi can leave his mark on the Ukraine crisis. Nonetheless, it is both a challenge and an opportunity for India's diplomacy, notes Rup Narayan Das.
Asking the Congress members, who were on their feet, to maintain the decorum of the House and not show placards, Birla said they should let the House function.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
According to the US-based Financial Markets International, India's ban on foreign funds into commodity futures market is these days benefiting the Chinese commodity markets. It pointed out that the cumulative effect of foreign investment is undeniably positive. "Limiting foreign investment in India's commodity futures exchanges would deny a key impetus to a rapidly growing sector of the Indian economy," the report said.
The Supreme Court on Tuesday allowed Indian medical students who have returned from Ukraine, China and Philippines due to the Covid-19 pandemic and the war, to clear the MBBS final examination in two attempts in accordance with existing National Medical Commission (NMC) syllabus and guidelines without being enrolled in any medical college in India.
'Indian equity valuations, although not very expensive, are not cheap either.'
Equity benchmark Sensex extended its winning run to the fourth day running on Monday and reclaimed the 58,000-level, tracking firm global trends and fresh foreign fund inflows. Buying in index major Reliance Industries added to the momentum. The 30-share BSE benchmark climbed 545.25 points or 0.95 per cent to settle at 58,115.50. During the day, it jumped 600.42 points or 1 per cent to 58,170.67. The broader NSE Nifty advanced 181.80 points or 1.06 per cent to 17,340.05.
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