After opening close to 1,500 branches in 2022-23, HDFC Bank, the country's largest private sector lender, will continue expanding its branch network at the same speed in the current financial year. The lender says branch expansion is crucial for deposit mobilisation. As of March 31, 2023, HDFC Bank had 7,821 branches, up from 6,342 a year ago.
The Securities and Exchange Board of India's (Sebi's) proposal to re-introduce "hard underwriting" is seen as step to boost India's moribund initial public offering (IPO) markets. The regulator has proposed that in case an IPO fails to garner full subscription, the investment banker or a third-party can buy the unsubscribed shares. This practice was common during fixed-price issues prior to 1999. However, under the new book building regime, underwriting is allowed only to the extent of shortfall due to technical rejection of bids - this is referred to as "soft underwriting" and is rarely invoked.
Irani said the "Government of India took a series of measures for ensuring safety, security and well-being of women during the COVID-19 pandemic."
Tata AIG, ICICI Lombard and Nippon Life have evinced interest for the profit-making insurance arm of Reliance Capital (RCap), joining several prominent financial companies from India and abroad in the race for RCap's assets. The final day to submit an expression of interest (EoI) was March 25 and the bidders will now get access to the latest information about RCap before they make financial bids.
Since Parliament is still in session, the government refrained from making an official statement but the ministers said there were ample 'precedents by the Congress governments in the past' of Bills being pushed through the ordinance route.
The National Democratic Alliance government's parliamentary managers have a busy weekend ahead, says Rediff.com contributor Anita Katyal.
The report added that Anbang, which has close ties to the Chinese state, has seen its aggressive efforts to buy hotels in the US slowed amid concerns raised by Obama administration officials who review foreign investments for national security risk.
Rules being drafted, to also cover unorganised sector; maternity benefit, old age pension, sickness allowance to be included
'WhatsApp is storing our data on servers which are physically located in another country.' 'We might be having good relations with a particular country at this very moment, where WhatsApp's data servers are located, and in which our data is stored, but tomorrow we might be having bad relations with them, then what is going to happen to that data.'
The Centre is unlikely to reduce its shareholding in Life Insurance Corporation of India (LIC) for at least 2 years following the insurer's listing because such a move could affect returns for investors participating in the mega initial public offering (IPO). The government's stance was communicated to prospective investors during roadshows after many of them sought clarity on the Centre's plan for lowering its shareholding in the insurer to meet the minimum public shareholding norms. To this, the Centre maintained its stand that it would not look at any equity dilution in the insurer for at least two years to avoid downward pressure on LIC's shares.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
The Reserve Bank of India is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as the date of merger draws closer, sources said. The HDFC twins, which announced their decision to merge in April last year, received National Company Law Tribunal's (NCLT's) approval recently - a key milestone to close the deal in due time. The management of both the entities had said that it will take 15-18 months for the merger.
SBI said it provided credit to Orbital ATK Inc as part of a syndicated deal with other banks.
The farmers have been holding a long foot march from Nashik to Mumbai in a bid to put forward their demands before the government.
A plea has been filed in the Supreme Court seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
It's time we dispensed with the paper trail and shifted all labour law paper, workflows and permissions online.
Since 1993, when the BJP came to power after a stint of President's rule, the state has alternated between the Congress and the BJP.
The Supreme Court on Wednesday agreed to hear on February 17 a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
The government has shortlisted Cyril Amarchand Mangaldas for giving legal advice on upcoming mega IPO of India's largest insurance company LIC, an official said. Four law firms - Crawford Bayley, Cyril Amarchand Mangaldas, Link Legal and Shardul Amarchand Mangaldas & Co - had made presentations before the Department of Investment and Public Asset Management (DIPAM) on September 24. Following presentations, Cyril Amarchand Mangaldas has been selected as legal advisor for the initial public offering (IPO) of Life Insurance Corporation (LIC), the official told PTI.
In the video footage, marshals can be seen forming a human shield to block Opposition MPs from going towards the Chairman's podium.
They say new rules that make over-billing by private hospitals a criminal offence will hurt their ability to treat patients properly, says Subir Roy.
The home minister said the northeast and the Left-wing extremism-affected areas in the country are tribal-dominated regions and security is a precursor to development there.
In many states, aggregators operate without a licence; in others, with the risk of the licence being revoked by any regional transport office on the slightest pretext.
The fact that Gehlot has stayed relevant these five years with his populist schemes is one reason why he may beat incumbency in a state that votes for change every election, observes Ramesh Menon.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
If only you had thought ahead, you would have stocked snacks and biscuits, bread and cake, and vegetables suited for Amma or pondatti to make your favourite bajji and pakoda, observes N Sathiya Moorthy.
"Our parents talked to us about Maradona, and we will talk to our sons about Messi. We hope that we will win the cup, and we can celebrate with him and all the people in Argentina," said Nicolas Gomez, a fan from Argentina.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
'Definitely, crowd management will be a challenge, but we will ensure we have enough forces at hand to take care of any situation.'
'Article 370 laid down the edifice of the relationship between J-K and the Union of India.' 'If you look at the Article, what is there now is a provision which states that all provisions of the Constitution of India applies to J-K.' 'The veto that the state could exercise previously on most Union laws has ended.'
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
The Kerala police chief said the state police would also consider collaborating with the Union government in the research sector to address the security threats posed by drones.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
Labour ministry guidelines say workers returning to cities must get housing, health insurance, facemasks. The Centre has also asked states to issue guidelines to employers to take care of the needs of migrant workers.
Rajasthan Chief Minister Ashok Gehlot on Friday announced his government's decision to form 19 new districts and three new divisions in the state, earmarking Rs 2,000 crore for development of infrastructure for them.
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
Rajya Sabha was adjourned sine die on Wednesday evening, two days ahead of the scheduled end of the Monsoon session, after the passage of four bills including on the OBC list and state-run insurance companies.
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
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