Assuming the private bank issues 20 billion shares at Rs 10 apiece (with face value of Rs 2 each), the total capital raise will be Rs 20,000 crore. And for the 49 per cent stake, SBI will need to put in about Rs 10,000 crore.
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
'The meanness of the board statement apart, it nowhere answers the most fundamental and damaging aspects of the deteriorating work culture among top company executives to which Narayana Murthy had been repeatedly drawing attention,' says B S Raghavan, the distinguished civil servant.
The Bharatiya Janata Party has released its manifesto for the upcoming Nagaland assembly elections, promising a special package for the eastern part of the state and establishment of a board for the holistic development of the region if the party returns to power for the second time in a row.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
Capital expenditure by 54 large central public sector enterprises and five departmental arms, having a capex minimum target of Rs 100 crore, rose 93 per cent year-on-year (YoY) in the April-May period to Rs 1.39 trillion. The National Highways Authority of India (NHAI) and the Railways have started this financial year's capex cycle on a stronger note. In the first two months of FY24, the 54 CPSEs, along with the departmental arms, achieved 19 per cent of their combined budget target of Rs 7.33 trillion, Business Standard has learnt.
'Our people are crazy about cricket, but they are more crazy about their country, and their armed forces.' 'To the people of India, there is nothing that is above the nation, not even cricket.'
Bharatiya Janata Party parliamentary board will finalise its strategy for opposing Foregin Direct Investment in retail in the coming winter session of Parliament at a meeting on November 20.
Referring to the arguments advanced by Chidambaram's counsel on Tuesday that ED wanted to humiliate him by arresting him, Mehta had said, "A victim card is sought to be played. They are saying humiliation. It is not. It is prevention, prevention and prevention with capital P. I am serious about this".
The finance ministry had last year notified a new investment pattern for EPFO.
In a significant development, India is believed to have placed a funding request of around $55 million in its first call with the Pandemic Fund of the World Bank, sources said. The fund has been set up to finance critical investments in a bid to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries. It was created in the aftermath of the Covid-19 global pandemic.
Demonetisation is the biggest reason for the rise in preference for small savings.
Some unions have opposed EPFO investing in share markets.
'There can be no bigger compliment than people walking away, carrying the film in their hearts, and thanking you for it.'
In its set of recommendations, the China Committee said that economic sanctions against China in case of an attack on Taiwan will be most effective if key allies such as G7, NATO, NATO+5, and Quad members join, and negotiating a joint response and broadcasting this message publicly have the added benefit of enhancing deterrence.
"Looking at the films come to life on set was a lot of fun. The lensing, the art direction and Prakash Sir's detailed eye. It felt like something special was brewing," says Naina Bhan.
Govt reconstitutes body, says will not interfere in senior PSB appointments
The Qatar Investment Authority deal follows Byju's raising money from the Canada Pension Plan Investment Board, which was also the first direct investment by the Canadian pension fund in an Indian start-up. In March, Byju's had raised $540 million at a valuation on $5.4 billion, making it the most-valued ed-tech company in the world.
Media rights for the Indian cricket team is always a prized scalp and it was Viacom18 who bagged the deal on Thursday to broadcast India's home matches for the 2023-28 cycle.
Reliance ADA group is also planning to develop the railway infrastructure for transporting coal.
IPL: TV remains relevant but be more takers for digital medium
The state with the most people has displaced the state with the largest economy in terms of investor additions. Uttar Pradesh (UP) added 126,000 new investors in April, reveals National Stock Exchange (NSE) disclosures. This is higher than Maharashtra's 118,000. Maharashtra, which is home to India's financial capital of Mumbai, has traditionally been the biggest source of investors.
Is Chandrababu Naidu being in jail an opportunity? How will the TDP capitalise on it? Or will it implode with nothing more than a sigh?
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
Kamran Akmal announced his retirement from all forms of cricket after being named on the national selection committee.
Ms Usha may soon discover that winning four gold medals at the Asian Games and qualifying for the Los Angeles Olympics is a walk in the park compared with the challenges of stabilising governance at the IOA, observes Kanika Datta.
'Trading is about psychology; 75% of it is about keeping your emotions in check.'
India's role as a leader of the global south may require it to give up its ambition to serve as a bridge between the warring halves of the international community, points out Mihir S Sharma.
Sebi is learnt to have written to several regulators including those in Bermuda, Luxembourg, and Switzerland, seeking detailed information on some FPIs.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
India led the way in the development of Test cricket under former skipper Virat Kohli, according to South African legend Graeme Smith, who reckons only five or six countries may be playing the longest format in the coming years.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
The Congress-led opposition stepped up its attack on Friday against the government over the Adani row and demanded that there should be a thorough investigation into what they alleged was a 'mega scam' as it involved public money.
Prima facie, there was evidence to indicate that there was a 'conspiracy' between Hasina Parkar (Ibrahim's sister), Salim Patel (alleged associate of Ibrahim) and Malik to grab the land owned by Munira Plumber and her mother Mariyum Goawala, said R N Rokade, special judge for cases under the Prevention of Money Laundering Act (PMLA).
Etihad to have 2 directors even if it dilutes stake to 15%
Mutual funds, as experts and custodians of another set of retail investors' savings, play a speculative game they are neither supposed to nor equipped to do, cautions Debashis Basu.
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
Prime Minister Narendra Modi on Friday flagged off the Gandhinagar-Mumbai Vande Bharat Express semi-high speed train.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
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