The Securities and Exchange Board of India (Sebi) is working on a new payment system for the secondary market, which could prevent brokers from accessing their client funds. It will be on the lines of the Application Supported by Blocked Amount (ASBA) process used for subscribing to initial public offerings (IPOs), where funds move out of an investor's bank account only after the trade is confirmed. Sebi chairperson Madhabi Puri Buch on Wednesday said that despite the challenges, the new system would be ready in a few months.
The haircut for major banks stands at 52 per cent, if the dues of Jaypee Infrastructure, Lanco Infrastructure and Era Infrastructure are kept out of the calculation.
Both lending and deposit rates would be cut, Punjab National Bank chairman and managing director K C Chakrabarty told PTI.
World Bank report on Thursday called for initiatives at the policy and institutional level to tap the economic potential it offers.
'At a time when there's a lot of conversation happening around how AI has made art directors and production designers jobless, we will simply say that if your work speaks for you, you will never be out of work.'
The village in Maharashtra has continuously sent soldiers to the Army since World War I. Every other person you meet is a soldier or a retired soldier or is aspiring to be a soldier.
In the April-June period, bond yields rose by 30 bps.
19 per cent of all travel in India (by bus, train or air) was pilgrimage or religious travel (possibly the single largest after business and family-related travel), discovers Ambi Parameswaran.
The high court further asked the Delhi Development Authority to state its stand on a batch of petitions challenging the action and also seeking a bar on the demolition till a fresh "demarcation report" is prepared.
Hyderabad police on Thursday arrested two senior executives of scam-hit Karvy Stock Broking Pvt Ltd for allegedly involving in diverting funds raised from banks by pledging clients' securities as collaterals. According to a police press release, Rajiv Ranjan Singh, chief executive officer and G. Krishna Hari chief financial officer of Karvy were arrested basing on a complaint by IndusInd bank.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
A snowy fishing village in Greenland, a vulture soaring through the sky in Spain, and a trio of actors gearing up for an opera performance in China all make up the award winners in the 2019 National Geographic Travel Photographer of the Year awards. Chosen from thousands of entries, the winning snap is called Winter in Greenland and was taken by Weimin Chu. It depicts the fishing village of Upernavik in northwestern Greenland. Chu will receive $7,500 (Rs 5.21 lakh) and a post on National Geographic Travel's Instagram account, @natgeotravel. Here we present the winners in each of the three categories.
The common man in India is bogged down by corruption and there is a need to fix accountability at all levels, the Supreme Court observed on Friday as it dealt with a petition seeking debarment of those against whom charges have been framed in criminal cases from contesting elections.
Modi attended the House during Question Hour as Thursday is the day of questions listed against the PM's name.
Non-performing assets of banks have been on the rise for past several months due to slowdown in the economy.
Police found materials that go into making bomb from the rented house in Mysuru of Mangaluru autorickshaw blast accused Mohammed Shariq, who was 'influenced and inspired' by a global terrorist organisation, a senior police officer said on Monday.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
The country's largest public sector lender State Bank of India on Monday fixed its benchmark lending rate at 7.5 per cent following a Reserve Bank directive, a move that will end the practice of sub-prime loan to corporates.
According to a government reply in Lok Sabha, as on June 30, 2017, there were about 109,598 cases pending across debts recovery tribunals, with recovery dues of Rs 635,500 crore.
A private member resolution seeking that the government implement the recommendations of the Sachar Committee report and other reports that have discussed the educational and social backwardness of Muslims and enact a legislation for the prevention of atrocities against minorities was moved in the Rajya Sabha on Friday.
The Congress and JD-S have made much of Amit Shah's remarks about milk co-operatives. 'If the Opposition harps on the statement, it could add to the narrative that Gujarat was trying to take over Karnataka.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Amid slogan shouting by MPs from the Trinamool Congress, the Congress and other opposition parties from the Well of the House, Modi began replying to the debate on the motion thanking the President for her address to the joint sitting of Lok Sabha and Rajya Sabha at the start of the Budget Session, and accused the Congress of adopting only 'tokenism' to solving problems the country faced.
The Assam government on Tuesday began clearing nearly 1,900 hectares of forest and government land in Sonitpur district, affecting 12,000-odd people who were allegedly staying there illegally for decades, a senior official said.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
Mallya has denied that he had fled India and said he would comply with laws.
Godhra is one of the 14 seats which the AIMIM is contesting in the next month's elections to the 182-member Gujarat assembly.
Discrimination between old and new customers have come down after base rate.
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
Messi's image is everywhere, adorning the sides of buildings.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
Govt to chalk out entry of sovereign funds from Abu Dhabi, Qatar into such projects.
The real estate market has seen a decline in affordability due to the recent rise in median loan rates as a result of the 50 basis points (bps) hike in repo rates by the Reserve Bank of India (RBI). A cumulative increase of 0.95 per cent in median home loan rate has impacted the purchase affordability and purchase decisions of homebuyers, according to the Affordability Index by Knight Frank. The Affordability Index tracks the EMI (equated-monthly instalment) to income ratio for an average household.
Panjwar, 63 was involved in drug and weapons smuggling and was designated as a terrorist under the Unlawful Activities (Prevention) Act in July 2020.
In a letter to the chief secretary, government of Uttarakhand, Union Power Secretary Alok Kumar said the land subsidence in Joshimath was a very old issue, dating back to 1976, and the construction of the 4x130 megawatt Tapovan Vishnugad project started only in 2006 by NTPC.
With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' (VIL's) assets, lenders are expecting aggressive bids for VIL's consumer durables and overseas oil assets, which are to be sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months, said a banker. A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also evinced interest in the second round of bids for VIL's consumer durable business. The deadline to submit bids for VIL's assets ended on February 2.
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
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