The Enforcement Directorate has filed a chargesheet against businessman Raj Kundra in a bitcoin 'scam,' alleging he was a beneficial owner and concealed evidence.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
Capital investment by the private sector is likely to rise 21.5 per cent to Rs 2.67 lakh crore in 2025-26 aided by robust macroeconomic fundamentals, and a 100-bps policy rate cut, according to an RBI article. Despite global uncertainties, Indian firms entered the 2025-26 fiscal year with healthier balance sheets, higher cash buffer, improved profitability, and greater access to diversified funding sources, said the article 'Private Corporate Investment: Growth in 2024-25 and Outlook for 2025-26' published in the Reserve Bank of India's (RBI's) August bulletin.
The National Sports Governance Bill has become an Act after President Droupadi Murmu gave her assent to the landmark legislation that promises to revamp India's sports administration.
'Market momentum and investor interest are at unprecedented levels, making this the opportune moment.'
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Prime Minister Narendra Modi announced a Rs 1,600-crore assistance package for flood-hit Punjab after reviewing the damage. He also announced ex gratia for the deceased and injured. The state is battling its worst deluge since 1988.
Billionaire Gautam Adani's group has pulled out of a loan deal with a US agency to fund a port terminal in Sri Lanka, saying it will use its own resources for the project. In an exchange filing late on Tuesday, Adani Ports and Special Economic Zone Ltd (APSEZ) said the project "is on track for commissioning by early next year". "The project will be financed through the company's internal accruals and capital management plan," the firm said.
Among the cities that have fully implemented their projects are Agra, Varanasi, Madurai, Coimbatore, Udaipur, Pune, Surat, and Vadodara
'The Bhashini Mission has delivered a working technology at large scale, which is as good as or better than the one with MNC tech giants.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
BCCI Apex Council to discuss norms for IPL victory celebrations after Bengaluru stampede
Given the gap between budgetary allocation and use, a parliamentary standing committee has asked the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (Ayush) to take steps to prevent underutilisation of funds under the National Ayush Mission (NAM) scheme. According to the data, the ministry was allocated Rs 1,200 crore for the mission in the Budgetary Estimate (BE) for FY24. The Revised Estimate (RE) for the year fell to Rs 815 crore, of which Rs 589 crore, or 74 per cent, has been spent till January.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
Gensol Engineering's promoters treated the listed company as a proprietary firm, diverting corporate funds to buy a high-end apartment in The Camellias, DLF Gurgaon, splurging on a luxury golf set, paying off credit cards, and transferring money to close relatives, Sebi revealed in its interim order.
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Sebi's probe against Jane Street is part of its efforts to mitigate losses for individual derivative traders.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The high-profile rape cases in Hathras, in Unnao (2018) and Kathua (2018) show that the infrastructure slated under the Nirbhaya Fund is either absent or inefficient, reports Geetanjali Krishna.
Singh said that about 150 people including women and forest, revenue and other officials were present at the time of the incident, and if the officials were assaulted, "why are there no eyewitnesses".
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
The initial public offering (IPO) lane will be busy next week, with four main-line companies, including Leela Palaces Hotels & Resorts operator Schloss Bangalore Ltd and Aegis Vopak Terminals tapping the primary market to raise over Rs 6,600 crore collectively.
The income tax department has notified ITR forms 1 and 4 for assessment year (AY) 2025-26 that are to be filed by individuals and entities with total income of up to Rs 50 lakh a year. Now individuals having long-term capital gains of up to Rs 1.25 lakh in a fiscal year can also file ITR-1.
Tech tycoon Azim Premji's global investment arm, Manipal Group Chief Ranjan Pai's family office and 360 ONE Asset have sought approval from fair trade regulator CCI to acquire stakes in domestic carrier Akasa Air's parent company SNV Aviation. "The proposed transaction involves the acquisition of certain shareholding by each of PIOF, Claypond and 360 Fund (through its various schemes and affiliates) in Akasa Air," said a notice filed with the Competition Commission of India (CCI) on Wednesday.
Tough times don't last, but tough people -- and smart financial strategies - do, says Ramalingam Kalirajan
'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
'India is a very strategic geography. The business is growing over 37-38 per cent year-on-year.'
FCRA registration will also be cancelled if any NGO is not utilising foreign funding as per the aims and objectives of the NGO or if it has not uploaded the annual returns, the ministry said.
Data from the ministry of environment, forest and climate change reveals that 30 cities recorded an increase in PM10 levels compared to 2017-18 (FY18), indicating deteriorating air quality.
The Reserve Bank of India (RBI) on Wednesday came out with comprehensive draft guidelines to harmonise and regulate gold loans across all financial entities, including putting a cap of 75 per cent on loan-to-value (LTV) ratio. The draft guidelines also aim to address concerns related to certain lending practices, provide clarity on specific aspects, and strengthen the conduct-related standards in the sector.
Fast-moving consumer goods (FMCG) distributors' association has written to the finance ministry, highlighting concern over fund utilisation and fund accumulation by quick commerce companies and deep discounting of goods on their platforms. According to a recent letter seen by Business Standard, All India Consumer Products Distributors Federation (AICPDF) noted that its analysis indicated that approximately 80 per cent of these funds were directed toward customer acquisition strategies instead of creating cutting-edge innovations or sustainable growth models for the retail sector.
Congress leader Rahul Gandhi has promised to revamp the party in Gujarat, vowing to defeat the BJP in the state. He acknowledged that Congress cadres are "demoralised" due to the party's long absence from power, but expressed confidence in their ability to defeat the BJP. Gandhi outlined a plan to strengthen district units, empower local leaders, and identify and remove inactive or "BJP-friendly" party members. He also emphasized the need to promote active grassroots workers and ensure a connection between the party organization and election candidates. He vowed to hold senior leaders accountable for their performance and promised to create a corpus fund for district units.
The upcoming delimitation exercise should reflect the social realities uncovered by the census, ensuring proportional political representation for marginalised groups, it read.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
