The National Stock Exchange (NSE) Nifty Next 50 Index could undergo large-scale changes if the proposed tweaks to its computation methodology get implemented. In a discussion paper floated recently, NSE Indices, which owns and manages a portfolio of over 350 indices under the Nifty brand, proposed that only stocks that are traded in the futures and options (F&O) segment can be part of the index. Currently, as many as 11 non-F&O stocks are part of the Nifty Next 50 Index, which, as the name suggests, represents the next rung of large and liquid securities after the Nifty50.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
Deposit rates for non-resident Indians may rise following Tuesday's rate hike by the US central bank Federal Reserve and due to the impact of forthcoming India Millennium Deposit redemptions worth over $7 billion, bankers said on Wednesday.
Choksi filed the affidavit in connection with two petitions submitted by him in the HC seeking dismissal of an application filed by the ED in a special court for declaring him a fugitive economic offender.
Opposing the government's move to merge the country's oldest financial institution with Punjab National Bank, IFCI's employees union on Wednesday proposed a mega merger of IFCI, IDBI, IIBI and IDFC.
Sensex falls 117.03 pts to end at 28,883.11; Nifty closes 32.85 pts down at 8,723.70.
Punjab National Bank on Tuesday obtained permission to start its operations in Afghanistan and plans to open offices in Dubai and Shanghai as well.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
Vipul Chitalia was apprehended at Mumbai airport and brought to the CBI office at the Bandra-Kurla Complex in Mumbai for questioning, he said, but did not divulge any other details about Chitalia's alleged role in the PNB fraud.
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.
Summary of sports events and persons who made news on Tuesday
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
The response was tepid in other parts of the country even as several INDIA bloc parties as well as other non-BJP outfits extended their support to the bandh.
Punjab National Bank will open representative offices in London, Shanghai and Dubai this fiscal. The London office is expected to be operational by the end of this month, S S Kohli, chairman and managing director, PNB, said.
Punjab National Bank on Friday said it has reduced education loan rates of its existing schemes by up to 1.25 per cent effective from April 1.
The judge also asked the Indian government to provide within 14 days the information on which prison he will be held at.
The PMLA court in Mumbai has sought their appearance on September 25 (Nirav Modi) and 26 (Mehul Choksi) respectively under the fugitive economic offender law.
Retail inflation declined to a three-month low of 5.1 per cent in January, mainly due to subdued prices of vegetables, fruits and other food items, according to government data released on Monday. The fall indicates that retail inflation is inching towards the Reserve Bank's comfort level of 4 per cent. The Consumer Price Index (CPI) based inflation was on the rise for two straight months after touching a trough of 4.9 per cent in October 2023. In December, it stood at 5.69 per cent.
Official sources said while the accounts of Nirav Modi, the diamantaire under arrest in this case in London, have deposits of $3,74,11,596 (Rs 258 crore) while the accounts in the name of his sister Purvi Modi has deposits of 27,38,136 (Rs 24 crore).
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
'The PSBs ended up recording Rs 7,709 crore losses in the March quarter compared to the Rs 11,688 crore profits of their private peers,' reveals Tamal Bandyopadhyay.
In another match in the Bombay Gold Cup hockey tournament, Sikh Regiment Centre beat Maharashtra XI 3-0.
New York Stock Exchange, along with a group of global investment banks, including Goldman Sachs, are together picking up over 20 per cent stake in the country's leading stock exchange, the National Stock Exchange.
Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
Five persons of Indian-origin have been honoured by Indian Overseas Congress, UK, for outstanding work in their respective fields, in a ceremony organised to mark 60 years of Indian independence in London.
The company and its sister concern, Forever Precious, owe close to Rs 5,500 crore.
Maharashtra and West Bengal lead the way in bank fraud.
PNB Housing Finance on Wednesday said it will disclose the outcome of shareholders' meeting held a day earlier -- on Rs 4,000 crore capital infusion led by Carlyle Group -- in accordance with the order of the Securities Appellate Tribunal next month. The company moved the tribunal on Monday after the capital markets regulator asked it on June 18 not to go ahead with the proposed capital raise plan by allotting preference shares to the investors until it carried out a valuation of shares from an independent registered valuer. The SAT in an order dated June 21 allowed the company to go ahead with the EGM, but restricted it not to announce the voting results by the shareholders, as the matter is pending before the court.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
