Metropolitan Stock Exchange of India (MSE) plans to raise Rs 120 crore from investors in an attempt to stay afloat. The beleaguered exchange's board has approved issuance of 1.19 billion equity shares of face value Rs 1 at a premium of Rs 1 through private placements, according to a disclosure on its website.
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
Sebi had given the exchanges a 2-year window to comply or exit.
A well-run non-banking company has better margins than a bank, but the objective of setting up Ujjivan was to provide comprehensive financial inclusion, Ujjivan Small Finance Bank MD & CEO Samit Ghosh tells Anup Roy in an interview.
The RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
The union has been demanding appointment of staffs, implementation of proper pension scheme, opposing the idea of one delivery point and one post office system of the government, Union general secretary M Krishnan told reporters in New Delhi on Tuesday.
The government on Friday came out with a new press note stipulating that foreign direct investment in micro and small enterprises (MSE) will be governed by sectoral caps and other regulations instead of the earlier 24 per cent ceiling on the foreign equity holding.
Poor faculty and scholarships also dissuade students.
The Uttar Pradesh Stock Exchange may get permission from the Securities and Exchange Board of India for taking membership of the National Stock Exchange, NSE, as Bhave, the new Sebi chief, seems to be cooperative on the moves that had earlier been opposed by his predecessor. M Damodaran had, almost eight months back, rejected the application of the Madras Stock Exchange for a tie-up with the NSE. But after Bhave took over, this permission has been granted.
Of the six-member rate-setting monetary policy committee, five members voted for a 25 bps cut while one by 40 bps, the RBI said.
Reports have suggested Rs 400-650 as the possible IPO price
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
The move is meant to curb or reverse the export of India's financial markets to overseas trading platforms.
Banks recovered Rs 18,933 crore (Rs 189.33 billion) worth of bad loans during the April-December period.
RBI said inflation in the second half of the current fiscal is projected at 2.7-3.2%. It retained its GDP forecast for the current fiscal at 7.4%
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
Arvind Panagariya speaks about climate change, globalisation and India's economy.
'The government must keep bad news out of the newspapers. If you have news about a fight everyday, it is not a climate where investment takes place.'
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