With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
Micro and small enterprises play a crucial role in furthering the objective of equitable and inclusive growth.
Work on a dozen decisions to start by next week.
Industrial Development Bank of India will hire about 1,000 finance professionals over the next few months to meet business expansion needs and also bridge the skills and experience gaps resulting from attrition.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
With huge liquidity in the money market, partly contributed by capital flows, the interest rates are expected to soften in the short term, according to Industrial Development Bank of India chairman V P Shetty.
Jobs specialising in the creation and management of AI tools may witness rising salaries due to the niche expertise they require. Skills in AI research, development and the practical application of AI tools in business settings will also see strong demand.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
India on Sunday signed three agreements with the US for developing smart cities in Ajmer, Allahabad and Visakhapatnam, with the government saying that the agreements would make significant contribution to building such cities in the country.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
Interest rates are seen remaining stable in the short term. Chairmen of State Bank of India, the country's largest bank, and Industrial Development Bank of India said they saw no pressure to raise interest rates for now.
Stung by the controversy over the sudden sacking of the Managing Director at India's largest microfinance institution, SKS Microfinance, lenders have decided to raise corporate governance issues at board meetings of other MFIs.
The new rate will be effective from December 8. The primary liquidity made available to the system through these measures is worth over Rs 3,00,000 crore (Rs 3,000 billion), RBI Governor D Subbarao said in Mumbai.
An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
The Asset Reconstruction Company of India Ltd, promoted by the State Bank of India, ICICI Bank, IDBI and other banks, is slated to start operation by the middle of this month.
Nearly 40 per cent of IITians sitting for placements in 2024 are yet to receive job offers, showing a doubling of the 'unplaced' in the last three years from 19 per cent in 2021-2022 to 38 per cent in 2023-2024.
'People in politics have lost the value of being connected to their own people.' 'Now it's all about vote share, vote bank, how many parties can you break and make them join you.'
Industrial Development Bank of India is looking to expand its presence overseas, including through opening branches in Singapore and Bahrain, a top bank official said.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
In what could brighten India's prospects in exports of equipment and technology in power, railways, automobiles, and pharmaceuticals, Exim Bank has extended the largest ever line of credit to Iran of $200 million for financing the exports to Iran.
Stocks in the automotive, financial, cement, metal, and hotel sectors are likely to benefit if the Narendra Modi-led Bharatiya Janata Party (BJP) comes back to power for a third time. The key investment themes have been identified after analysing the Sankalp Patra - the party's manifesto for the next five years - released on Sunday.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
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