Niti Aayog will prepare the next list of central public sector companies for disinvestment in the next few weeks, its vice chairman Rajiv Kumar said on Thursday and expressed hope that the proposed asset reconstruction and management companies to address banks' bad loan woes will do a good job like the UTI. Days after Finance Minister Nirmala Sitharaman announced the Union Budget for 2021-22 laying out various measures (including disinvestment proposals) to bolster the pandemic-hit economy, Kumar also emphasised that the Modi government has shown consistent commitment for the welfare of farmers and for the improvement of the agriculture sector. "Now the process has begun... We will complete preparation of the next list in the next few weeks, we have got the marching order," Kumar said about the list of public sector companies for the next round of stake sales.
Equity investments are fruitful over the very long 20-year term.
The comments come about a week after PSU bank employee unions went to a four-day relay strike to press for early revision of wages.
Monday saw the Sensex post its weakest closing since July 11 when it settled at 36,265.93. In the previous four sessions the index had lost 1,249.04 points.
In HDFC Life, the company has to pare 1.43 per cent, and in HDFC Ergo, it has to pare only 0.58 per cent.
SBI had a bad day, sliding the most by 5.36%. Others that dragged the key indices down were M&M, Reliance Industries and L&T.
As liquid tightening measures were likely to be temporary, any change in lending rates would depend on the length of these measures, according to bankers.
Tata Group shares were among the top losers while Adani Ports emerged as the top gainer
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
One risk of investing in a very low-cost ETF is if a fund house runs it at below cost, it could close it if it fails to attract institutional money
Loan rates will change at the next reset, while deposit rates will continue till maturity.
Asset managers are betting big on ETFs these days.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Steep volatility in the markets has made fund managers cautious, awaiting opportunities to deploy the cash.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Several brokerage houses have given a year-end target of as high as 30,000 for the BSE bourse's benchmark Sensex, with fund managers telling investors not to redeem though the index is still only around 25,000.
Biggest ever share sale by any private or public sector co in India.
The 30-share Sensex ended down 339 points at 28,119 and the 50-share Nifty closed 100 points lower at 8,438.
Out of the 30-share Sensex pack, 21 ended lower and one remained unchanged
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
Going by the strict criteria set, only Maharashtra, Tamil Nadu, Gujarat, Karnataka, Uttar Pradesh, Andhra Pradesh, Madhya Pradesh, and Haryana qualify for such extra borrowing, as of now.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
The Nifty finished the day at 10,265.65, a hefty gain of 98.95 points, or 0.97 per cent, after shuttling between 10,270.85 and 10,195.25.
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
The 50-share NSE Nifty gained 53.30 points or 0.61 per cent to 8,778.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The RBI's reluctance to cut rates should be seen as a case of inability in the face of inflation.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Sensex rises, snapping two-session losing streak; banks, auto gain.
Investors in LIC's insurance and other schemes are receiving a lower rate of return because LIC is subsidising incompetence at best and malfeasance at worst in institutions such as IDBI Bank and IL&FS, says Jaimini Bhagwati.
Coal India was the biggest gainer on both Sensex and Nifty
