Prime Minister Narendra Modi will on Friday launch two schemes of the Reserve Bank of India (RBI) that may go a long way in changing how the household sector invests, and complains if anything goes wrong with their savings. These schemes - retail direct and an integrated ombudsman - will be launched by the Prime Minister virtually, in the presence of Finance Minister Nirmala Sitharaman. With the introduction of retail direct, a common man can directly take a position in government securities (G-Sec), considered to be the safest asset class a sovereign can offer.
Using buyback as a divestment tool is not new, the amount raised this year is phenomenally high.
Notwithstanding the challenges posed by the pandemic, the deal street remained buoyant pushing the overall deal value to a three-year high of $90.4 billion during the first nine months of 2021, a 35.1 per cent increase in value over the same period last year, according to an industry report. During the third quarter ending September, total deals grew by a tepid 3.8 per cent, according to the leading provider of financial markets data and infrastructure globally Refinitiv, an LSEG Business. The report also noted that IPOs alone grabbed as much as $9.1 billion of the deal value during the year.
The agreement came in after the Ruias agreed to clear most of the Rs 26,000-crore dues to the lenders on completion of the transaction.
Life Insurance Corporation of India is recruiting Apprentice Development Officers.
As many as 10 public sector banks could be out of the infusion plan because of Sebi's minimum public shareholding norms.
Debt-ridden firm Reliance Capital on Monday objected to the proposed 33.12 per cent stake sale of Prime Focus Ltd (PFL) by Credit Suisse to PFL's promoter group at Rs 44.15 per share. Anil Ambani's Reliance Group company Reliance Capital in a statement termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group. However, Reliance Capital did not share the details of the "blatant abuse of the purported rights".
The new business premium of life insurance companies usually sees the highest growth in the March quarter.
Regulator fears the insurer may get away without making an open offer.
The listing day gain-to-loss ratio for FY21 was 71 per cent, the highest since FY17, when it was 85 per cent.
The Central Bureau of Investigation on Wednesday arrested eight people, including the chief executive officer of LIC Housing Finance, for allegedly giving corporate loans for monetary considerations.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, will answer your queries.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
The Reserve Bank did not issue the final merger scheme for Lakshmi Vilas Bank (LVB) with DBS India on Friday as stated earlier and is likely to do so only next week, according to a central bank official. While placing LVB under a moratorium and then issuing a draft amalgamation scheme on November 17, the RBI had said it would issue the final merger scheme on November 20 (Friday) so as to help complete the resolution for the 94-year-old lender by December 16. However, as of 2200 hrs on Friday, the central bank did not issue the final merger scheme. When contacted, a senior RBI official told PTI that the same would now be issued early next week.
Nine days after their arrest in a cross-country housing loan scam, a special CBI court on Friday granted bail to all the eight accused, including LIC Housing Finance CEO Ramchandran Nair, after observing that their custody is not required further.
There are four public sector general insurance companies.
It has so far managed to raise only Rs 1,700 crore (Rs 17 billion), by divesting a 5% stake in Steel Authority of India.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
State-run Life Insurance Corporation of India has raised its holding in cement and construction major Larsen & Toubro by about one percentage point to 18.4 per cent.\n\n
SBI comes second and Bharti Airtel is third
Players seek separate deduction for long term savings, or alternatively hike in exemption limit U/s 80 C; also seek longer period of carry forward of losses under Income Tax Act and also to increase FDI limit from 26% to 49%
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
With a 20 hour average delay, the New Jalpaiguri Express is the queen among late-running trains.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
To attract capital into infrastructure projects, the ratings system needs a fresh look.
'Kindly advise about the following stocks. Can I hold or exit?'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Life Insurance Corporation of India, the country's largest institutional investor, is planning to pump in at least Rs 75,000 crore in equities during the next financial year.
.jpg)
Samsung which leads the global list takes the 10th spot in India.
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances