The Reserve Bank on Thursday tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious on such advances. The risk weight on unsecured consumer loans has been raised by 25 percentage points. The new regulations, however, will not be applicable on housing loans, education loans, vehicle loans and loans secured by gold and gold jewellery, the Reserve Bank said in a circular.
Fiscal mismanagement by states is an issue the union government has to be concerned about as it impacts the nation's economy, the Supreme Court observed on Wednesday and advised the Centre and the Kerala government to iron out their differences on a cap on net borrowing by the southern state.
The initial public offering (IPO) market has seen some momentum of late with robust responses to recent issues. However, only some have been able to ride the wave. So far in 2023, 23 companies have let their approval granted by the markets regulator - the Securities and Exchange Board of India (Sebi) - lapse.
The pharmaceuticals sector is expected to post a revenue growth of around 13.5 per cent and a net profit growth of 30.3 per cent for the third quarter of 2023-24 (FY24), riding on the approval for niche drugs in the US market, fall in raw material prices and correction in shipping rates. In the healthcare segment, hospitals are expected to post revenue growth of 13 per cent during the coverage, while net profit growth would be around 37 per cent, ICICI Securities said in a note. However, the performance may not be comparable on a sequential basis due to the offset of the festive season in Q3FY24, the analysts noted.
In a jolt to savers, the Finance Ministry on Wednesday had reduced interest rate by up to 1.1 per cent across various small savings schemes, including the National Savings Certificates (NSC) and Public Provident Fund (PPF).
Katalin Kariko and Drew Weissman have been jointly awarded the Nobel Prize in Medicine for their discoveries that enabled the development of effective mRNA vaccines against COVID-19.
The Indian team's formal wear and accessories, BCCI ratings, awards and web portal were approved by the Marketing Committee.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
Prime Minister Yoshihide Suga declared a state of emergency for the greater Tokyo region on Thursday
Eleven companies have launched their initial public offerings (IPOs) in December 2023, making this month the second-best December for public offerings since 1996. Collectively, they are raising Rs 8,182.7 crore this month. In December 2021, 11 companies raised Rs 9,534 crore. However, excluding December 2021, this month marks the best December for IPOs since 1996.
In a report submitted Monday to Rajya Sabha chairman and Vice President M Venkaiah Naidu, the Parliamentary Standing Committee on Home Affairs also said there was a need for a comprehensive public health law to keep a tab on private hospitals and check black-marketing of medicines.
ITC's move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor's concerns on the company's capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the hotels business, wherein ITC will hold a 40 per cent stake in the new entity, and the remaining 60 per cent will be held directly by shareholders. The scheme of arrangement shall be placed for approval of the Board at its next meeting to be convened on 14th August 2023.
If the war in the Israel-Gaza region escalates into a larger West Asian conflict, it could pose problems.
While both institutions provide financial assistance, there are significant differences between them in terms of offerings, eligibility criteria, interest rates, and other crucial factors.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Artificial Intelligence-first business strategy adopted by Infosys is working well for the company despite unresolved ethical and IPR issues around the technology, Infosys chairman Nandan Nilekani said on Wednesday. In his address at Infosys' 42nd Annual General Meeting, Nilekani said the company can be more efficient while nurturing readiness for growth, given its performance in challenging scenarios created by inflation, interest rates, geopolitics, demand volatility and supply chain dislocations. "Several practical, ethical and intellectual property-related issues, when it comes to AI remain unresolved.
The affordable housing segment may be seeing an uptick which is a good sign of consumption momentum. This is the biggest-ticket purchase for middle income and lower income families. The current activity is at least partly driven by a pause in interest rate hikes.
A 25 per cent year-on-year (Y-o-Y) increase in budget allocation towards the roads sector for FY24 has led to renewed interest among investors. However, a combination of escalating costs for Bharatmala and unseasonal rains to some extent have impacted progress. Bharatmala's cost has nearly doubled from Rs 5.35 trillion to Rs 10.6 trillion and the finance ministry has asked MoRTH to go slow until Cabinet approval is received.
Amid criticism and protests against the government over allegations that Cauvery water was being released from Krishnaraja Sagar (KRS) dam to Tamil Nadu, he clarified that the discharge was meant for Bengaluru, and not for the neighbouring state.
The government views dropout as a barrier to achieving the new National Education Policy's aim of 100 per cent gross enrolment rate at the school level by 2030, according to officials.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
PCB was caught in a deadlock with the ACC for demanding additional compensation on organising chartered flights between Pakistan and Sri Lanka during the Asia Cup.
'Building a credit history is a gradual process that requires at least 6-12 months of consistent credit activity.'
Though Beijing asserts the Dalai Lama's successor needs its approval, observers say it remains concerned as the present Panchen Lama, the number two spiritual leader who was appointed by it after unseating the boy nominated by the Dalai Lama, has not gained much traction in Tibet.
'I don't jump at everything that comes my way. (But) To say that I have too many offers coming my way is also a lie. I'm not one of those people who turn down scripts every day.'
After a technology upgrade, the Multi Commodity Exchange of India (MCX) appears poised for an improvement in volumes. The premier commodity and forex exchange reported a loss of Rs 19.1 crore in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). This was attributed to higher software charges payable under an extended service agreement with 63 moons technologies and a one-off cost towards core guaranteed funds (CGF).
The survey showed 39.2 per cent want the Games scrapped, while 32.8 per cent favour another delay
While United States President Barack Obama and his Cabinet received mixed reviews in a new opinion poll, the first lady Michelle Obama and Secretary of State Hillary Clinton have scored high marks for their performance.
Manufacturing activities in India accelerated further and touched a four-month high in April, boosted by robust new business growth, mild price pressures, better international sales, and improving supply-chain conditions, a monthly survey said on Monday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) increased from 56.4 in March to 57.2 in April, indicating the fastest improvement in the health of the sector so far this year. The March PMI data pointed to an improvement in overall operating conditions for the 22nd straight month.
The Union Cabinet on Wednesday approved changes to GST laws to levy a 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs, sources said. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which were approved by the GST Council last week, are likely to be introduced in the ongoing monsoon session of Parliament, which will end on August 11. The GST Council in its 51st meeting on August 2 recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
The new year will witness two unmanned missions under the "Gaganyaan" project, deep ocean exploration project, "Samudrayaan" and many more.
Understand the pros and cons of SGBs before rushing to invest in them based on past returns.
COVID-19 is on the verge of becoming endemic but Indian scientists are keeping a close watch on each new variant and the government would continue to maintain a high alert, Union health minister Mansukh Mandaviya has said, underlining that the virus has managed to survive and is going to stay.
865 million Indian adults require vaccination.
The 12th Plan document has already been approved by the full Planning Commission chaired by Prime Minister Manmohan Singh on September 15.
Three months after coming to power, the ruling Congress on Thursday passed an order setting up the inquiry panel led by retired HC judge Justice Nagamohan Das, fulfilling one of its key promises made in the run-up to assembly polls.
ICC announced equal prize money for men's and women's teams at ICC events while also making changes to the over-rate sanctions in Test cricket.
'We do not see people getting reduced, but because of automation, we will do more work.'
'We now look at divestment as an opportunity for maximising the value of public assets, not necessarily as a short-term resource-raising measure.'
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