The initiative is being undertaken by the government of Karnataka, considered one of the leaders in the technology space. Currently, India doesn't have such a platform and, globally, there are very few privately-run platforms.
'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
Now that almost 10 infrastructure ministries have submitted a fresh list of their core infrastructure assets, the government has realised it stands to make much more money from asset monetisation than previously thought. Two persons in the government said it stood to garner over 30 per cent more than the earlier estimates of Rs 2.5 trillion over the next four years under the National Monetisation Pipeline (NMP). The NMP, which is being prepared by Niti Aayog, is in the advanced stages of finalisation and is expected to be unveiled in August.
It is easy to invest in exotic products but difficult to exit them. Think carefully before investing rather than being blown away by expected returns alone, suggests Mrin Agarwal, founder, Finsafe India.
With incidents of data pilferage threatening India's image as an outsourcing destination, the government on Monday approved amendments in the IT Act, 2000 to check information theft and online frauds.\n\n
'Why is the government asking parents to be careful rather than coming up with strict rules and regulations for the companies?'
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
After a recent fall in profit, Masayoshi Son of SoftBank announced that the Japanese tech investor will look at dramatic cost-cutting. Before he does that, investments in India for calendar year 2022 (CY22) will fall radically, observed sources in the know. Last year, the company had invested around $3.2-3.5 billion in the Indian start-up ecosystem - almost 10 per cent of the total investment the sector received. For CY22, the investments may not even touch $1 billion.
Jack Ma, founder of China's e-commerce giant Alibaba suffered a major setback on Tuesday as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of $39.7 billion of the group's subsidiary - the Ant Group, 48 hours before the highly-anticipated trading was due to start. The Shanghai Stock Exchange surprised market investors with an abrupt announcement late on Tuesday that it will suspend Ant Group's IPO, as regulators and the public debate the balance between financial innovation and risk control, state run Global Times reported. According to media reports, the Hong Kong exchange followed suit several minutes later.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Stock exchanges and other market infrastructure institutions as well as their top officials are liable to face penalties for lapses in handling and recitfying technical glitches, with Sebi putting in a place a stricter compliance system driven by "financial disincentives". The markets watchdog has come out with a detailed Standard Operating Procedure (SOP) for Market Infrastructure Institutions (MIIs) less than five months after a technical glitch halted trading at the country's largest bourse NSE for nearly four hours. There will be a "financial disincentives" structure for MIIs -- stock exchanges, clearing corporation and depositories -- for any business disruption beyond pre-defined time, according to a circular issued on Monday.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
Covering 37 different legislations such as the Partnership Act of 1932, Insolvency and Bankruptcy Code, and laws on environmental protection, consumer protection and labour interests, the recommendations have been shared with Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
While the market may remain volatile this year, analysts expect equities to deliver positive returns by outperforming inflation and government bonds, supported by the fiscal stimulus in the US.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
'Eat that frog' implies that you do a daunting task first so it is out of your way and doesn't stress you, advises Dr Deep Lalvani, founder, Sublime Life, a sustainable beauty care brand.
Can only suspend non-compliant companies at present owing to a lack of jurisdictional clarity.
However, rural demand continued to remain a concern for FMCG companies during the quarter.
Tech giant Alphabet on Monday launched a privacy feature on its app marketplace Google Play Store that will require developers to give people more information about how apps collect, share and secure users' data. Users will start seeing the data safety section in Google Play on Tuesday, and developers are required to complete this section for their apps by July 20. As app developers update their functionality or change their data handling practices, they will show the latest in the apps' data safety section.
The ruling mean FPIs cannot seek treaty protection against the new withholding tax that companies are required to deduct at source. The apex court order pertains to when the cricketing bodies of Pakistan, India, and Sri Lanka formed a joint committee to conduct the 1996 Cricket World Cup.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
Making it easier for companies to raise funds through genuine equity or debt offers, Sebi unveiled a slew of measures to bring to book those running illegal money-pooling schemes and indulging in other fraudulent activities.
Court orders probe into Union minister Gajendra Singh Shekhawat's role in a complaint linked to Sanjivani Credit Cooperative Society, in which thousands of investors allegedly lost Rs 900 crore a year ago.
Sebi chief Ajay Tyagi on Wednesday said many companies are lacking on the disclosure front and asked such firms not to treat it as a check box exercise. Sebi rules primarily require listed firms to have two sets of disclosures - periodic disclosures where formats have been prescribed by the regulator; and disclosures of material events where certain events have been deemed as material and must be disclosed, and the others to be disclosed if considered by the company and its board to be material.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The new norms also seek to ensure that sufficient safeguards are put in place to avoid any misuse of its new powers and the required privacy of individuals is granted while conducting search and seizure operations.
In a 43-page order, SEBI said it will bar DLF and its chairman KP Singh along with five other company executives from accessing India's capital markets for three years.
'India will soon have the world's largest and youngest population -- just imagine what tomorrow's citizens of India will be able to accomplish, given the right education, training, and opportunity.'
Moreover, Ravi Narain and Chitra Ramkrishna -- who had served as MD and CEO of the exchange -- have been asked to disgorge 25 per cent of respective salaries drawn during a certain period.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
'Investors should restrict themselves to a few category schemes with high quality portfolios apart from overnight and liquid funds.'
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
Initial public offering (IPO)-bound Life Insurance Corporation (LIC) of India's assets under management (AUM) increased to Rs 38 trillion as of September 2021, compared with Rs 37 trillion as of March 2021, said sources in the know. Its AUM is almost 3x the AUM of all the private life insurers in the country and over 15x more than the AUM of the second largest life insurer, SBI Life, as of September 2021. SBI Life's AUM was approximately Rs 2.4 trillion as of September 2021, said sources.
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
Prime Minister Narendra Modi hailed as "historic" the jump.
In the past four months, $7.5 billion has flowed back into domestic stocks, helping the benchmark indices bounce back more than 40 per cent from their 2020 lows.
