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'Why should my vaccine certificate, which I got paying my own money, have the picture of the prime minister?'
The Union Cabinet has cleared disinvestment of the country's largest insurer LIC and a panel headed by the finance minister will now decide on the quantum of stake dilution, a senior official said on Monday. The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IPO (initial public offering), which is touted to be the biggest public issue in Indian corporate history. The Budget amendments to the LIC Act has been notified and the actuarial firm is expected to finalise the embedded value of the life insurer. Under the embedded value method, the insurance company's present value of future profit is also included in its present net asset value.
Managing Brexit, inflation and banking reforms, along with the political environment, will be tough.
Taking advantage of the RBI's different accounting year, the Centre had started demanding an interim dividend till the time the latter's final balance sheet is prepared (usually in August). To address this anomaly, an expert committee led by former RBI governor Bimal Jalan had recommended aligning the RBI's financial year with that of the government.
Investors are keenly focused on new govt's first full-year Budget.
Bids to be evaluated according to guidelines by the civil aviation ministry, following which a buyer will be selected. Transfer of control to the buyer to be effected by June-end.
The minister tells Subhomoy Bhattacharjee that he wants to set up a financing corporation for the road and shipping sectors, which will throw up a business opportunity of Rs 25 lakh crore!
The Reserve Bank is unlikely to lower the interest rates.
Currently, the retail inflation is well below the RBI's comfort level. The government has asked the central bank to keep inflation in the range of 4 per cent.
Here are the key decisions announced by the Reserve Bank of India on Thursday.
'Too many things happen in India... that is the root of the problem, not Raghuram Rajan'
'...because the party is based on the Constitution.'
Income tax department sends out notices to cryptocurrency investors on suspicion of tax evasion.
The department will impose a penalty, which could be between 30 per cent and 120 per cent.
How could India@75 improve law and order, courts, social, physical and soft infrastructure, efficient cities, e-governance, ease of doing business and other essential state functions by 2022, asks Shailesh Pathak.
'Reports in a section of media regarding Union Minister Shri Arun Jaitley's health condition are false and baseless. Media is advised to stay clear of rumour mongering,' Government Spokesman Sitanshu Kar tweeted.
The lack of an informal communication channel is what should bother the government and the RBI, if they want to eliminate the undesirable outcomes of the current tension between the two, says A K Bhattacharya.
In the third of a four-part series, Business Standard reporter travels to Nashik to assess how the currency press there is responding to demonetisation.
'In the real economy, the scars of the pandemic will continue to define 2021.' 'It is still hard to tell the effect on unemployment, migrant workers, poverty, and the informal sector of the lockdown and of the pandemic,' observes Mihir S Sharma.
If the impact of the Greece crisis spreads across Europe and parts of the world which are more interconnected than ever before, India cannot hope to be insulated, says Paranjoy Guha Thakurta.
This may lead to the states' combined fiscal deficit to widen much faster, while the Centre may show a smaller or insignificant slippage in meeting its deficit target. The Centre will celebrate over its fiscal prudence, but the states would suffer, A K Bhattacharya points out.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
CRR to remain unchanged at 4.00 pc this fiscal
This is good news for the central government at a time when crude oil prices are rising.
Ola Electric's technology team is working hard to iron out the technical kinks that marred the electric vehicle company's hyped online sale of its electric scooters (e-scooters) - the S1 and the S1 Pro - on Wednesday, said company sources. The SoftBank-backed firm is facing technical difficulties in making the website live for the purchase of its e-scooters. According to company sources, the website couldn't go live as there were integration issues.
The move is likely to help 4.59 lakh housing units across the country.
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
India's external firewalls were solid in the form of a healthy reserve position.
Starting today, Modi and top officials in the Prime Minister's Office will be briefed by various central ministries and departments on their plans as well as agenda for the next five years. They will also apprise the PMO of the work they have done so far in realising the agenda of government's second term in office.
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
The CBDT has begun the process of matching the deposits in accounts opened under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), or Jan-Dhan accounts, with the profile of the depositors.
The Reserve Bank of India (RBI) has liberalised the procedure for facilitating the import of rough diamonds (termed roughs in the trade).
The Corporate Affairs Ministry's latest move comes in the backdrop of instances of private entities using the word 'National' in their names, including the case of National Spot Exchange Ltd, which is embroiled in a major payment crisis.
Ever since the deal was announced of Walmart spending over $16 bn for a 77 per cent stake in Flipkart, the road to the takeover of India's biggest online marketplace has been quite bumpy
Patel urges government to rein in borrowings, inflation
NBFCs are mainly dependent on funding their operation from their own cash flows.
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