The regulator is more carefully scrutinising applications by infrastructure investment vehicles that have a limited number of investors. They have been asked to broaden their investor base before application approval, according to two people familiar with the matter. The Securities and Exchange Board of India is concerned about the structure being used for getting around tax requirements, according to one of the sources.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
The decision was taken at the BRICS Summit in Durban which also launched a Business Council to encourage investment and trade in member countries and to expand business cooperation.
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
The number of deals announced in the month were the highest ever at 102 for any month, compared to 75 in the same period last year and 92 deals in March.
The government will formulate a strategy to make India self-reliant in edible oils by boosting domestic output of oilseeds and launch a comprehensive programme to support dairy farmers, Finance Minister Nirmala Sitharaman announced on Thursday. India imports a large quantity of edible oils to meet the domestic demand. During the 2022-23 marketing year (November-October), the country imported nearly 165 lakh tonnes of cooking oils, valuing a whopping Rs 1.38 lakh crore.
Rajan said too many infra projects do not have forex earnings thus are unable to pay in dollars or yen
Cash-strapped Air India will have to raise Rs 8,165 crore (Rs 81.65 billion) out of its own resources or borrowings to fund its fleet acquisition programme as the Union Budget focused primarily on aviation infrastructure development, giving a total budgetary support of Rs 190 crore (Rs 1.9 billion).
which currently does an average daily turnover of Rs 8,000 crore (Rs 80 billion) - almost twice that of the Bombay Stock Exchange - has been valued at $2.5 billion.
Moody's has a 'positive' outlook on its 'Baa3' rating on India.
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.
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
Smart City Mission has unleashed an unprecedented enthusiasm and expectations both within and outside the country.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'Three decades of intensive discussions, protocols and Confidence Building Measures were jettisoned one fine morning in 2020.' 'The primary lesson that has been learnt is that that there is no reliability about the Chinese.'
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.
Modi attended the 20th ASEAN-India Summit in Jakarta. Secretary-General of ASEAN Dr Kao Kim Hourn also attended the summit.
Finance Minister Nirmala Sitharaman on Thursday said Pradhanmantri Suryodaya Yojana will enable one crore families to get up to 300 units of free electricity monthly and help them save up to Rs 18,000 annually. "There is provision of Rs 10,000 crore for rooftop solar (scheme) in the Budget," said finance secretary T V Somanathan in press conference on Budget later in the day. Earlier in the day Sitharaman in her interim Budget speech said through rooftop solarisation, one crore households will be enabled to obtain up to 300 units of free electricity each month.
The move is part of a larger initiative by the government to speed up work in the highway sector.
India's main hubs are bursting at the seams.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
Terming his discussions as 'fruitful and productive', Modi said the discussions were wide ranging, covering the entire spectrum of the bilateral engagement.
Indian cities need $840 bn investment over 15 yrs, says World Bank report.
To threaten China and Pakistan, and then to sharply cut back on military funding, bespeaks a remarkable trust in Beijing and Islamabad that is not borne out by anything they say or do, notes Ajai Shukla.
The opening ceremony was held in China's financial capital.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
'We have to make doing business in India easier.'
'It is important to improve the quality of spending.'
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Finance Minister Arun Jaitley presented the Union Budget.
A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said.
Banks want government to retain 40 per cent of Jet slots at all airports to ensure a new owner can kick-start operations soon after taking over.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
President Ram Nath Kovind on Monday said the country's farm production and procurement increased during 2020-21 crop year despite the pandemic and agricultural exports reached a record level of Rs 3 lakh crore during the same period. In his address to the joint sitting of both Houses of Parliament at the start of the Budget session, Kovind said the government is focusing on making the country self-sufficient in edible oils besides making special efforts to promote organic farming, natural farming and crop diversification. "My government is working continuously to empower the farmers and the rural economy of the country... I would like to give maximum credit to the small farmers of the country for this consistent success and strengthening of the agriculture sector," he said.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
