The proposal to increase public float, hike income tax surcharge, move to tax share buybacks and lack of stimulus to shore up economic growth has hurt investor sentiment.
The Supreme Court Friday assured the home buyers of the to-be-razed 40-storey twin-towers of real estate firm Supertech in Noida that they will be refunded the full amount deposited with the builder. The apex court also asked the Interim Resolution Professional (IRP) of the firm, facing insolvency proceedings, to deposit Rs one crore with the apex court registry. The Supertech's 40-storey twin towers at Emerald Court Project of Sector 93A of Noida are scheduled to be razed on August 28.
GNPAs of public sector banks are now at a staggering 11.2 per cent of their advances.
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
'Who would think of making a bank of poor women? She had vision and boldness.'
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
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PSBs are rushing through bond issuances to report healthy capital adequacy ratios by the year-end in anticipation of a healthy credit growth for the quarter ending March 31. These banks are seeking to maintain the 12 per cent capital adequacy ratio to follow international guidelines. While most investors have lapped up the Tier-II and subordinate bond issues, with some of them closing well ahead of the scheduled closing date, perpetual bonds are languishing.
The project will be in three stages and sources indicate that the funding will be for the first stage of 107 kilometre from Sarai Kale Khan to SNB Urban Complex.
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
SBI unions walk out of pact saying interests not served
Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
The second leg of the budget session is of 23 days and all 14 days so far have been wasted.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The additional cash will now give the Centre more headroom for stimulating the economy.
It is to keep labour unions away and make the employees feel important.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
PSB branches will work fulltime on the 1st and 3rd Saturday.
There is no dearth of political will today to act against corruption and officers should take action against the corrupt, however powerful, without any hesitation, Prime Minister Narendra Modi said on Monday.
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
The divestment target remaining unchanged, from the 2019-20 interim Budget, this year means the Centre will now have to depend on non-tax revenue sources like dividends from the RBI, PSBs and PSUs, as there are real concerns of a tax revenue shortfall. The fiscal deficit target of 3.4% of GDP for 2019-20 is likely to be retained as well.
Trade, transport and hotels form a major part of the country's GDP and these sectors were crippled by the strike
Air India is awaiting the Union civil aviation ministry's nod to sell its properties in Mumbai and Chennai
The bulk of the incremental profits will come from oil & gas and automobile sectors.
Finance Minister Nirmala Sitharaman on Friday said the government is proposing additional tax deduction of Rs 1.5 lakh on interest paid on home loans taken up to March 2020 for purchase of house up to Rs 45 lakh.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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Thakur, who also represented Shiv Sena in the Rajya Sabha, was 72.
While they have restructured loans, there is still question mark over the success of such a work-out
"For decades in our country, the meaning of the Budget was restricted to what announcements were made in whose name. The Budget was turned into an account of the vote bank," Modi said.
Latest data from the Swiss National Bank showed that money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
The new notes will be available from 2012.
Customers will not be charged for ATM withdrawals from April 1, Reserve Bank of India deputy governor V Leeladhar announced in Mumbai on Monday.
All the 27 public sector banks together have market share of about 70 per cent.
On BSE, 1,469 shares fell and 1,200 shares rose. A total of 190 shares were unchanged.
The CBI, in its FIR, alleged that Mayaram, the UK-based company De La Rue International Ltd and unidentified officials of the finance ministry and RBI hatched a criminal conspiracy to extend undue favour to the firm.
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