'I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak's shareholding very unreasonable,' says Sudhir Bisht.
Government think tank Niti Aayog has suggested 100 per cent income tax exemption for donations and provision of working capital loans with lower interest rates for not-for-profit hospitals to strengthen healthcare services in India. In a report titled 'Not-for-Profit Hospital Model in India', the Aayog also pitched for involving high performing hospitals in public private partnership (PPP) models for managing primary health care (PHCs), operations of government facilities and PSU hospitals. "Income-tax exemption could be increased from the current 50 per cent exemption to 100 per cent exemption for philanthropy toward the identified not-for-profit hospitals.
Finance Minister Pranab Mukherjee has made it clear that the government would not travel the path of unbridled divestment. The 10 per cent cap on offloading shares of profit-making public-sector undertakings (PSUs) would stay for the next four years, as Mukherjee said he preferred a cautious approach towards divestment.
An increase of 10% in net profit is expected as higher provisioning would negate most of the gain on account of expansion of loan portfolios.
The market rally was driven by strong buying in telecom, banking, realty, metal, FMCG and PSU counters.
All public sector bank branches will have an automated teller machine by March 31, 2014.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Bharat Sanchar Nigam Ltd Employees Union on Friday extended support to the proposed indefinite strike of employees of public sector oil companies against privatisation of HPCL and BPCL.
ONGC has suffered a loss of over Rs 30,000 crore due to alleged siphoning off of natural gas by Reliance Industries Ltd (RIL) from the PSU's well in Krishna-Godavari (KG) basin and appointment of an experts body on the issue "will not help", the state-run oil firm said.
Attorney-General Soli Sorabjee's response on the privatisation of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd is likely to be known later this week.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'The financial sector will be hit even harder than the overall market.' 'The banking sector will eventually be rescued.' 'But it may go into a long downwards spiral before things turn around.' 'Threat or buying opportunity?' asks Devangshu Datta.
From the 30-share pack, 18 stocks ended with gains led by SBI, which surged 27.58 per cent, and ICICI Bank 14.69 per cent.
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
It looks unlikely that a proper plan was in place or else the deaths could have been averted, reports Jyoti Mukul.
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.
Late selling in realty, PSU and infrastructure stocks mainly dragged the market from early highs.
Reserve Bank Governor D Subbarao on Tuesday favoured bifurcation of the posts of chairman and managing director in state-run banks, saying the experience of such a split in the private sector has been satisfactory.
FinMin officials say an announcement could be made in the Budget.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
This is despite the private sector companies outperforming their public sector counterparts, reports Sachin P Mampatta.
Moody's expects that India will record the GDP growth of around 7.5 per cent in 2015 and 2016.
Public sector oil companies' officers are planning an indefinite strike from September 5 to press for a salary hike.
Indian Armed forces will leave no stone unturned to safeguard the country's frontiers, he insisted.
Power, realty, FMCG, consumer durables, metal, infrastructure, PSU and oil and gas and banking stocks emerged front-runners on sustained buying by participants.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
Finance Ministry officials are engaging in hectic parleys with the PSUs to speed up the process so that the disinvestments can take place in the December and March quarters.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
Many PSU banks had recently cut interest rate on loans for two-wheelers and consumer durables.
Talks between the government and striking oil Public Sector Undertakings failed late Thursday night over the officers' insistence on getting an immediate hike in their wages as the agitation threatened a major disruption in supply of petrol across the country. Deora is likely to meet Prime Minister Manmohan Singh on Friday afternoon on the issue after the meeting of the Union cabinet in the morning.
Sivan said the Indian National Space Promotion and Authorisation Centre (In-Space) has been created under the Department of Space as a separate vertical for taking independent decisions with respect to permitting and regulating space activities of the private sector.
Pawan Verma contended that PSU banks are influenced to give loans to the people who are not able to repay them.
Reliance Industries Ltd will give Rs 750 crore (Rs 7.5 billion) discount on LPG and kerosene to public sector petro retailers in 2005-06.
The broader Nifty declined by 73.90 points, or 0.71 per cent, to end at 10,378.40.
RBI feels that oil firms seeking a single quote for their dollar requirement, instead of present practice of floating enquiring with several pubilc and private sector banks, would help check volatility and arrest the free-fall of the rupee.
KAPP-3, the country's 23rd nuclear power reactor, is a 700 MW Pressurised Heavy Water Reactor (PHWR) designed indigenously, the NPCIL said in a release. The components and equipment for the reactor have been manufactured by Indian industries, and its construction was undertaken by various Indian contractors, it said.
The International Cricket Council came in for sharp criticism for its bizarre rules on playing conditions
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