Union Bank of India, United Bank of India reduced base rates.
Biggest ever share sale by any private or public sector co in India.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
The Central government on Friday told the Supreme Court that it has deposited with the top court Rs 10 crore paid by the republic of Italy as compensation to the families of the two Kerala fishermen who were shot dead in 2012 by two Italian marines aboard the MV Enrica Lexie ship -- an Italian flagged oil tanker -- in lieu of closure of criminal cases against the two navy personnel in India.
Equity infusion of Rs 4,000 crore into Air India, proposed by Finance Minister Pranab Mukherjee in Union Budget 2012-13, will improve the debt-equity ratio of the airline to a level considered comfortable and help open the doors of banks for them.
Backed by the China-plus-one policy, India's textile and apparel exports have seen a 53 per cent growth during the April-November period of the current fiscal year at around $26 billion. This compares to the figure of $17 billion during the same period in FY21. According to Wazir Textile Index, all major companies including Welspun, Vardhman, Trident, KPR Mills, Indo Count, RSWM, Filatex, Nahar Spg and Indorama have posted higher sales during the first half of the current fiscal year compared to the pre-pandemic year.
Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 in Parliament on February 1. The Budget is a statement of the government's estimated receipts and expenditures for a fiscal year (April 1 to March 31). It's divided into Revenue and Capital Budget. The Revenue Budget includes the government's revenue receipts and expenditures while the Capital Budget includes its capital receipts and payments.
The maiden voyage has 32 tourists from Switzerland signing up for the entire length of the journey.
RailTel Corporation of India, Indigo Paints, Home First Finance Company, Indian Railway Finance Corporation, and Suryoday Small Finance Bank are among the companies looking to tap the market.
Pulbic banks have no reason to cheer Budget announcement.
It is also felt that under the current market conditions, the building is unlikely to garner the kind of funds expected from a prime real estate at Nariman Point
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.
Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc.
The new agri-infra fund, the duration of which will be 10 years till 2029, aims to provide medium-to-long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
From the 30-share pack, 24 companies fell, with Yes Bank emerging as the top loser, dropping 8.36 per cent, followed by NTPC, M&M and Vedanta.
"Earlier, governments were busy in vote bank appeasement but we are busy satisfying people," the prime minister said.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
More than half of the total subsidy provisioning, amounting to 54 per cent, is going towards food subsidy, which is estimated at Rs 184,220 crore for 2019-20 - a 7.5 per cent increase over the revised estimates for 2018-19.
The overarching talking point will be the reluctance on the part of private banks to loosen their purse strings and increase lending substantially, even as the central bank believes there is adequate liquidity within the system.
FinMin officials say an announcement could be made in the Budget.
Banking services across the country are likely to be affected following a two-day strike call given by All India Bank Officers' Association (AIBOA) from February 20, in support of their charter of demands.
With six airports handed over to the Adani group for 50 years, the government is now all set to hand over another 25 airports to private players in a bid to 'monetise' them. Official figures reveal that since 2017-18, the government has spent and will be spending Rs 14,500 crore on significantly revamping infrastructure at most of these airports before handing them over to private players. The Airports Authority of India (AAI), which operates these airports for the government, has spent billions of rupees in building new terminal buildings, runways, reinforcing taxiways, upgrading aircraft landing systems, radars and a host of other heavy duty and capital intensive infrastructure works.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Based on repeated appeals from Choksi, who is wanted in the Rs 13,000 crore bank fraud in Punjab National Bank and is holed in Antigua and Barbuda after fleeing from India in 2018, the CCF removed his name from the Red Notice list in November 2022, the CBI said in a statement.
A pan-India 'fraud-to-phone' network has been busted by security agencies, which have also arrested eight people and seized nearly 300 new mobile phones bought with stolen funds, officials said on Tuesday. Moreover, 900 mobile phones, 1,000 bank accounts and hundreds of unified payment interface (UPI) and e-commerce IDs of this gang have been identified and are under investigation. Nearly 100 bank accounts, and debit and credit cards have been frozen by the security agencies so far, officials said.
The Constitution bench is hearing a batch of 58 petitions challenging the demonetisation exercise.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
'Once the Hon'ble Supreme Court has declared the law, we are obliged to accept it. However, it is necessary to point out that the majority has not upheld the wisdom of the decision; nor has the majority concluded that the stated objectives were achieved,' the senior Congress leader said in a tweet.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The country's largest lender State Bank of India on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenures, effective March 10. The bank has reduced its one-year MCLR by 10 basis points to 7.75 per cent from the earlier 7.85 per cent, SBI said.
The central probe agency issued a provisional order under the Prevention of Money Laundering Act for attachment of Indian assets in Kodaikanal and Ooty in Tamil Nadu and a flat in Delhi's Jorbagh. A cottage and house in Somerset in the UK and a tennis club located in Barcelona, Spain have also been attached as part of the same order, the agency said.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
The need to allow government shareholding in public sector banks to come down below 51 per cent
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Complaints to NCM fall down sharply...4,000 Indian women deserted by NRI husbands since 2016...79 districts in India still don't have blood banks...
Finance Minister Arun Jaitley presented the Union Budget.
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