The government is likely to mop up between Rs 950 crore and Rs 1,000 crore (Rs 9.5 billion and Rs 10 billion) from the public offer of shares in car-maker Maruti Udyog Ltd at Rs 122-125 a share.
HPCL advanced further on Monday on buying support from institutions following reports that a inter-ministerial group is likely to meet on Thursday to shortlist the names of bidders for the state-run oil refiner.
Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution. To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters.
'The idea is to frame the ToR quickly, so that Trai can begin its consultations with industry stakeholders.'
The ministry of information and broadcasting (I&B) on Wednesday held an inter-ministerial meeting with various departments to discuss issues regarding revenue sharing between Big Tech companies and digital news publishers, according to sources. The meeting - chaired by I&B Secretary Sanjay Jaju - invited senior officials from the ministry of corporate affairs (MCA), Competition Commission of India (CCI), ministry of electronics and information technology (Meity) and departments of promotion of industry and internal trade, legal affairs and consumer affairs.
The Centre has conceded most of the demands of potential buyers of Neelachal Ispat Nigam Ltd (NINL). These include lowering the lock-in period for sale of assets to one year and allowing the new buyer to undertake the amalgamation of a special purpose vehicle (SPV) into NINL. An inter-ministerial group led by Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanta Pandey and the core group of secretaries on divestment (CGD) headed by Cabinet secretary Rajiv Gauba have decided that the lock-in period can be reduced to one year from the date of completion of sale, from the earlier three years proposed by Dipam, an official in the know said.
Alleging that something was fishy in the Jet-Etihad deal, BJP today demanded that the Prime Minister's Office should come clean on the issue.
A marginally lower stock of 21.04 million tonnes is to be maintained in the first quarter as on April 1 as against 21.2 million tonnes.
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
The Centre is unlikely to announce an agreement over payment mechanism with Russia until a ceasefire is declared in the Ukraine war, said people in the know. An inter-ministerial group headed by the finance ministry has been meeting regularly for over a month to analyse and discuss payment mechanisms that can work under the current circumstances and ensure the trade between India and Russia is not disrupted. The US had recently said that there would be consequences for countries actively attempting to "circumvent or backfill" American sanctions against Russia.
The Centre is considering relaxing some norms that led to the failure in attracting bids for assets of Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) as they look to restart the auction for their non-core assets. The Department of Investment and Public Asset Management (DIPAM) had listed six properties of BSNL and MTNL for sale through its new e-bidding portal, developed by state-run MSTC, but the auction failed to garner an adequate interest. DIPAM had asked government-appointed property consultants to identify issues in the bidding criteria for resolution.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Sai said the revenue on account of steel exports stood at Rs 29,994 crore (Rs 299.94 billion) in 2013-14.
Several states and UTs including Delhi, Maharashtra, Karnataka and Telangana have decided to opt for global tenders for procurement of anti-coronavirus shots with the domestic supply falling short to meet the rising demand.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
A special task force of the SFIO recently submitted an interim report to the Corporate Affairs Ministry in this regard.
MCA is a legal contract, which prescribes the terms and conditions for executing a road project.
The Centre will provide MI-17 cargo chopper to Uttarakhand to ferry heavy equipment to calamity-hit high altitude areas to expedite reconstruction work in the hill state.
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
Sikh militant group on EU's terrorist list
The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
India's plans to relax foreign direct investment (FDI) rules across a broad spectrum of industries have received the final approval from the Cabinet Committee of Economic Affairs (CCEA).
Janata Party chief Subramanian Swamy on Thursday sought suspension of the new bilateral air services agreement between India and Abu Dhabi, saying prima facie it appeared to be linked with Jet-Etihad deal.
Probe has been completed against 83.
While Moily refused to elaborate on the reasons for the deferment, sources said his ministry had raised concerns over pricing of IOC shares.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Jharkhand, Odisha and Rajasthan do not meet the criteria for being accorded the special category status, while such proposal from Bihar is under consideration, Parliament was informed on Thursday.
The government has asked Indian ships sailing in the Malacca Strait and South East Asia to be 'extra cautious' and take necessary security steps in view of rising incidents of hijacking and robbery
Pursuit of raw material had landed Bhushan Steel in the coal block allocation scam.
India has been mentioned in the report of the Secretary-General on Children and armed conflict since 2010 along with other countries of Burkina Faso, Cameroon, Lake Chad basin, Nigeria, Pakistan, and the Philippines for alleged recruitment and use of boys by armed groups in Jammu and Kashmir; detainment of boys by Indian security forces in J&K for their alleged association with armed groups, or on national security grounds.
The framework for new licences will be ready by end of this financial year.
The move is part of a larger initiative by the government to speed up work in the highway sector.
The triple talaq bill is against the provisions of the Constitution and violates the rights of women, the All India Muslim Personal Law Board said on Sunday, demanding its withdrawal.
The decision was taken by the ministry this week, a top Coal Ministry official said, while refusing to reveal the names of the companies.
According to officials, more clarity might be required with regard to foreign fund managers in the context of Air India divestment.
JSPL, Tata Power, Monnet Power, Jindal Photo in the dock.
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
It, however, does not manufacture devices on its own and rather does it through contract manufacturers.
The apex court observed that it respects the local sentiments but asserted authorities cannot let the law of the land not prevail especially when there is nothing affecting the personal rights or personal laws.
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