Private-sector lender Federal Bank on Friday announced that New York-based Blackstone will invest Rs 6,196.51 crore in the bank through its affiliate Asia II Topco XIII Pte Ltd via a preferential issue on a private placement basis.
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
Lutnick said that these countries have to understand that if "you want to sell to the US consumers, you've got to play ball with the President of the United States."
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
'It is not looking at valuation, but investment, growth and ultimately better profit for stakeholders.'
Telecom firm Bharti Airtel will approach the government on the adjusted gross revenue (AGR) it has to pay the exchequer following the Supreme Court's judgment that the government can reassess all AGR dues, according to vice-chairman and managing director Gopal Vittal.
Cyclone Ditwah exits Sri Lanka after causing widespread destruction and over 120 deaths, heading towards the Indian coast. Heavy rains and high winds are expected to continue.
The commerce ministry on Tuesday said the discussions with visiting US Chief Negotiator Brendan Lynch on the proposed bilateral trade agreement were positive and forward looking.
India does not do trade agreements in a hurry or with a "gun to our head", Commerce and Industry Minister Piyush Goyal said on Friday. He said India is actively negotiating trade pacts with countries and regions, including the European Union (EU) and the US.
The Enforcement Directorate has filed a chargesheet against businessman Raj Kundra in a bitcoin 'scam,' alleging he was a beneficial owner and concealed evidence.
'When negotiators meet next, they may like to bring new issues to the table.'
Trump said California has been particularly "hard hit" because of this, blaming democrat Gavin Newsom, the Governor of California, for this loss, calling him "weak and incompetent."
An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the US to iron out differences in sectors, like agriculture and automobiles, a government official said on Thursday.
The Kerala High Court has criticized the Kerala Waqf Board's claim on land in Munambam as a 'land grabbing tactic' and upheld the government's decision to appoint an inquiry commission to investigate the ownership of the disputed area.
Hectic parleys are underway between officials of India and the US in Washington on the proposed interim trade agreement between the two countries, an official said on Wednesday.
India's decision to reserve its rights to impose retaliatory duties on the US over imposition of tariffs on auto parts is a procedural move under the WTO agreement on safeguards and it will not affect ongoing negotiations on the proposed trade pact between the two countries, an official said. India on Friday proposed imposing retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on imports of the country's auto parts in the name of safeguard measures.
Reserve Bank on Friday decided to cut Cash Reserve Ratio (CRR) by a huge 1 per cent, which will unlock Rs 2.5 lakh crore liquidity to the banking system for lending to productive sectors of the economy. With the reduction in four equal tranches ending November 29, 2025, the CRR would come down to 3 per cent.
Despite a strong 7.8 per cent growth in the first quarter, the Indian economy is expected to grow at 6.5 per cent in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half, ADB said on Tuesday.
Ahead of the Karnataka assembly elections, the government on Friday approved the issuance of the 26th tranche of electoral bonds that will open for sale on April 3.
IndiGo promoter Rakesh Gangwal's family trust on Thursday sold a 1.3 per cent stake in the country's largest airline for Rs 2,933 crore through open market transactions, cumulatively offloading shares worth Rs 14,497 crore so far this year. With the latest sale, the cumulative divestment by Rakesh Gangwal, along with his wife Shobha Gangwal and their family trust -- the Chinkerpoo Family Trust -- stood at Rs 39,532.79 crore, translating to around $4.51 billion.
To prevent companies from submitting unrealistic quotes to bag project contracts across industries, the government is planning to soon roll out a mechanism to curb irrational bidding.
Rubio voiced "appreciation" for New Delhi's continued engagement on bilateral issues, including trade, defence and energy.
Pakistan has approached the Asian Development Bank (ADB) for a USD 7 billion loan to upgrade a major railway line after China apparently declined to support the project. The development of Mainline-I (ML-I) railways between Peshawar and Karachi is stuck due to a lack of funds.
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
India has not been included in the list of countries issued tariff letters by the US, providing relief to Indian exporters as trade agreement negotiations continue. The US has issued tariff letters to about 20 countries so far.
The All-India Football Federation has formed a three-member committee, headed by former judge Justice L Nageswara Rao, to oversee the entire tender process for selecting its new commercial partner, as per a directive from the Supreme Court.
The US on Monday decided to delay imposing its "Liberation Day" reciprocal tariffs until August 1, allowing more time to iron out issues between New Delhi and Washington before finalising an interim trade deal. On April 2, US President Donald Trump announced reciprocal tariffs against a number of countries including India (26 per cent), but paused the implementation of these duties for 90 days, giving all trading partners the deadline till July 9 to reach a deal.
'They are positioned as defensive products and can potentially give marginally higher returns than liquid funds.'
Prime Minister Narendra Modi is likely to address the UN General Assembly in September. The session will address global conflicts and trade negotiations between the US and India.
In a big boost to tycoon Gautam Adani, markets regulator Sebi on Thursday cleared the billionaire and his group of stock manipulation allegations made by US short-seller Hindenburg Research, saying fund transfer between group companies did not fall foul of any regulation.
India and the US are likely to agree on an interim trade agreement before July 8 with New Delhi pushing for full exemption from the 26 per cent reciprocal tariff on domestic goods, an official said. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days till July 9.
India and the US have concluded the fifth round of talks for the proposed bilateral trade agreement (BTA) in Washington. Both sides are looking at finalising an interim trade deal before August 1. Issues related to agriculture and automobiles figured during the negotiations.
With US President Donald Trump "temporarily suspending" country-specific reciprocal tariffs until July 9, India sees the three-month window as an opportunity to renew its push for a proposed bilateral trade agreement (BTA) with the US and expedite finalisation of the first tranche of the trade deal.
'The AIFF has agreed that: It will conduct an open, competitive and transparent tender (or equivalent process) for selection of a commercial partner to conduct the ISL in line with global best practices.'
The Indian government outlines its futuristic defence programme, Sudarshan Chakra Mission, focusing on indigenous development, predictive technologies, and targeted counter-action systems to enhance national security.
The US team is in New Delhi for the next round of negotiations for the proposed bilateral trade agreement and the negotiations are progressing well, Commerce and Industry Minister Piyush Goyal said on Thursday. Some more US officials will reach India on June 6 to join the negotiations with their Indian counterparts.
About 55 banks participated in the deal, making it the largest bank group for a syndicated loan in Asia so far this year.
The first tranche of sovereign gold bond for 2022-23 will open for subscription for five days from June 20, the Reserve Bank of India said on Thursday.
For the time being, the RBI is done with the cuts. A cut in October, which many are still predicting, is not certain. Of course, if growth nosedives, the script will be different, expects Tamal Bandyopadhyay.
