Jignesh Shah, who is fighting legal cases in the NSEL's Rs 5,600-crore scam, has resigned as the Managing Director of Financial Technologies India, a company set up by him, and will become its Chairman-Emeritus.
Investors will get the money directly in their demat accounts or through their brokers. They won't get physical delivery any more.
The Street is never short of hope and events to look forward to
'I hope the trend is sustainable and that economic activity accelerates going forward.'
The Modi administration has been unable to initiate key reforms.
At face value of Rs 2,893 and interest payout of 2.5 per cent, sovereign gold bonds offer best route to invest in yellow metal, says Tinesh Bhasin
Allegations of a particular market player being favoured over others were flying thick and fast in the early days of the scam.
In his capacity as an member of Parliament from South Mumbai, Minister of State for Telecom and Shipping Milind Deora today wrote to Prime Minister Manmohan Singh and sought his intervention to resolve the settlement crisis facing the National Spot Exchange Ltd.
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
Here are 15 things that would have made 2015 a great year.
Financial shares were the top losers.
Negotiations on with three brokers holding 5% of about Rs 5,500-crore (Rs 55 billion) overall dues
Every student of Classes 9 and 10 will receive Rs 2,200 and that of Classes 11 and 12 Rs 7,500 as scholarships, said the manifesto, which was released by Prasad in Ranchi, in the presence of Chief Minister Raghubar Das, Union Tribal Minister Arjun Munda and BJP's state unit president Laxman Gilua.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
The chances of the posts opening remain slim, with security agencies recently identifying 10 suspects who smuggled in weapons, narcotics and fake currency.
Department seeks investor database on the suspicion of fictitious investors.
23 Nifty companies reported an annual decline in net profit.
What is killing the risk appetite of the bond buyers is the inconsistency in the central bank's approach. It needs to allow the yield to find its own level, gradually. To ensure that, the RBI may adopt a similar approach with which it handles a slipping rupee, asserts Tamal Bandyopadhyay.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
'It could tempt investors to pick stocks that are not fundamentally sound.'
The Indian indices also offer one of the lowest dividend yields.
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
In the first arrest in the NSEL's Rs 5,600 crore (Rs 56 billion) payout scam, a top official of the beleaguered spot commodity bourse, which defaulted on its payment for the eighth time in a row yesterday, was held on Wednesday by Mumbai police's Economic Offence Wing (EOW).
Ashish Chauhan is generous in his praise for his former bosses and doesn't flinch in pointing out the reasons why the BSE lost out in the initial years of the NSE.
Combining affordable IT with native Indian ingenuity and entrepreneurship F C Kohli believed would enable Indian small businesses match anyone and thrive.
'The virus of trust deficit seems to be taking a toll of the friendship built over the years by succeeding leaderships of the two countries,' notes Rup Narayan Das.
Under U K Sinha, Sebi became a pan-India organisation with local offices in 16 cities
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
Broader markers outperformed their larger peers.
States need to create alternative marketing structures for farm produce since middlemen also provide vital services that are otherwise unavailable to the farmer.
The development came a day after the protesting farmers rejected the Centre's offer to start talks as soon as they move to Burari and continued to stay put Singhu and Tikri borders of the national capital.
In yet another setback to it, the National Spot Exchange Ltd on Monday saw non-executive chairman Shankarlal Guru and another director quit, blaming 'bad people' in the management team for the crisis at NSEL.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
India remains North Korea's 2nd-largest import source after China, according to several estimates by multilateral bodies, says Subhayan Chakraborty.
US sanctions against Iran kick in from November 4, which will block payment routes. Sources said India and Iran are discussing reverting to rupee trade after November 4.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
