The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
The 44-player industry logged assets under management of Rs 26.33 lakh crore in October-end, as compared to Rs 27.04 lakh crore by November end, representing a growth of 3 per cent. Among debt-oriented schemes, overnight funds received flows worth about Rs 20,650 crore, the highest among the fixed-income segment last month.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
PM started 'Make in India' but every product in market is Make in China: Rahul
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
Oil tanked to a 7-year low as OPEC decided to maintain production.
Brokers hope of a stable government after elections and signs of economy returning to growth path.
The broader NSE index has fallen about 0.9% as investors wait for corporate results
Positive cues from the global market front aided the rally.
Raghuram Rajan's 'surgery' uncovers more bad loans
The BSE gauge Sensex fell 73.88 points to 35,548.26 and the NSE Nifty slid 17.85 points to 10,799.85, taking cues from tumbling global shares.
The scheme, touted as a panacea to burgeoning CAD, was a huge flop that fostered a spike in smuggling and allowed several Gitanjali-like players to make a killing
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
Initial public offerings (IPOs) by start-ups are bringing cheer to investors and investment bankers alike. After food delivery company Zomato, Nykaa has issued the fattest pay cheque to the managers of its share sale -- Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore. In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO, while in percentage terms, it is the highest for large IPOs (>$300 million) in the last one year, shows an analysis of the data provided by Prime Database, a primary market tracker.
Asian shares ended higher after a string of positive US economic data.
Sensex, Nifty slightly upbeat, midcaps to rule markets this week.
'Secrecy allowed in the electoral bonds scheme legalises anonymity'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Survey shows fiscal consolidation despite slowdown in growth.
'Then why should people like us face this inconvenience?'
The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030.
'If the RBI had done the right things, these mistakes would not have happened in banks, public or private,' says Ajay Shah.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
ONGC was the top performer while private banking major ICICI Bank extended gains
Jaitley said growing at 8-10 per cent for a significant number of years will help India find an answer to poverty.
Govt has already approached World Bank seeking termination of contract. The progress of the project was just 20 per cent though the contract was awarded in 2016.
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
Last minute tips to ace the Common Written Examination for probationary officers for public sector banks.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
The Reserve Bank of India held its policy rate at 7.25 percent on Tuesday.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
Despite all of the PM's many strengths, it is increasingly clear that he does not necessarily have a coherent and clear worldview on matters of macro policy.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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