For the first time in 21 years, the Reserve Bank of India (RBI) will revise norms for investment portfolios of commercial banks to reflect changes in global standards on valuation and measurement, and progress in the domestic market. This could pave the way for banks to transition to the new accounting standards (Ind-AS). The outstanding investment portfolio of commercial banks was at Rs 45.84 trillion as of November 19 this year.
Sharad Pawar reckons that the NCP has value as a united, going concern, not as a gaggle of leaders in search of followers, notes Shreekant Sambrani.
Madhuri Dixit's brief seems to have been to look glamorous, which she does, while others struggle to hold the film together, observes Deepa Gahlot, Maja Ma Review.
Sunday's tally of coronavirus cases was 17 per cent higher than the 2,716 infections registered a day before.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
'We tightened our risk frameworks once the Covid crisis started.' 'We are slowly lightening this as we see economic activity pick up, salaries getting restored, and people getting back into jobs.'
Monkeypox is a rare zoonotic disease that is caused by infection with monkeypox virus. Monkeypox virus belongs to the family Poxviridae, which also includes the viruses causing smallpox and cowpox disease
In a significant move, markets watchdog Sebi on Tuesday decided to implement the requirement to separate the positions of chairperson and managing director at listed companies on a voluntary basis and not make it mandatory for now. The development also comes against the backdrop of Finance Minister Nirmala Sitharaman recently saying the regulator should hear if Indian companies have a view on the matter even as she made it clear that she was not "giving a diktat". The top-500 listed entities were required to split the roles of chairperson and managing director/chief executive officer before the April 2022 deadline.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI's approval which is expected to come on Monday, sources aware of the development said. Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same.
The SIT on black money has widened its probe.
Oil Minister M Veerappa Moily approved continuation of the existing rate of $4.2 per million British thermal units until the new government, which will be in place in May, decides on implementation of the new price formula.
The EPS camp believes that the BJP was already arm-twisting the AIADMK into conceding more seats in the 2024 Lok Sabha elections 'than they deserve' observes N Sathiya Moorthy.
Financials ended mixed despite the status-quo on key rates by the RBI. SBI, ICICI Bank and Axis Bank ended up 0.4-2.5% each.
He said though there is a spike in new cases, the situation is under control as not many people are developing severe disease or require hospitalisation.
A day after deciding to nearly double natural gas prices to $8, Finance Minister P Chidambaram on Friday hinted that power and fertiliser units may get gas at subsidised rates to keep electricity and urea costs down.
Realtors' body CREDAI on Monday said the cost of construction has gone up by 20-25 per cent, mainly during the last 45 days, due to steep rise in prices of raw materials like steel, and builders will be forced to increase property prices from next month by an average 10-15 per cent. CREDAI-MCHI, the Maharashtra chapter of CREDAI, demanded that the central as well as state governments consider giving relief to the industry by reducing stamp duty and GST rates, besides allowing input tax credit (ITC) to developers. The association said it would not advise member developers to stop construction works as of now, but if the price rise continues then builders would have no option but to halt works at project sites and defer purchase of raw materials.
The stage of alert will be based on positivity rate (on two consecutive days), cumulative number of new cases (over a week) and average oxygenated-bed occupancy (for a week).
When it comes to a significant investment like a four-wheeler, many people end up paying high interest rates on car loans which can lead to high monthly installments.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
Hospitality and travel-tech firm OYO is looking to launch its initial public offer after September and has written to stock market regulator Sebi, seeking to file updated and restated consolidated financial information. The company, which had filed preliminary papers with Sebi to raise Rs 8,430 crore through an initial share sale in October last year, is now prepared to settle for a lower valuation of around $7-8 billion against the $11 billion it was targeting initially, according to people in the know of the development. OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market, they said.
The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
If Tamil Nadu BJP President K Annamalai bought it in 2015, did he get prior approval from the Union home ministry, and did he include it in his annual wealth returns, sections of the media want to know. N Sathiya Moorthy on the curious case of the 'Rafale' watch.
India's fertiliser subsidy bill is likely to shoot up by 55 per cent to record Rs 2.5 lakh crore this fiscal as the government will provide additional funds to make up for the spike in cost from higher import price, top sources said on Thursday. The government will ensure that there is no shortage of fertilisers in the country during the kharif (summer-sown) and rabi (winter-sown) season and it is already in talks with major global producers to import key soil nutrients, they added. According to the sources, Union Chemicals and Fertilisers Minister Mansukh Mandaviya is likely to visit many countries, including Saudi Arabia, Oman and Morocco, soon to secure imports on both short and long term basis.
Fitch Ratings on Monday said uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays in privatisation of India's second-largest fuel retailer, Bharat Petroleum Corporation Ltd (BPCL). Affirming BPCL's rating at 'BBB-' with a negative outlook, Fitch said it continues to treat the potential divestment of the company by the Indian government as an event risk. "Bidders are conducting due diligence, but uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
Banking sources said the debt recast is actually 'Plan B' to help the nation's largest retailer stay afloat.
A movie that seeks to explore an 'alternate history' cannot be so superficial, sighs Utkarsh Mishra.
'The approach today is, instead of giving loans to 100 MSMEs, let us give one loan to a big-ticket corporate.' 'And so many of these big fish deceived the banks and the banks are in the doldrums now with high NPAs.'
The bill was passed by a voice vote after Shah sought to allay concerns raised by the Opposition, which claimed the draft law was "draconian".
'If you want to change everything all of a sudden to polyester, then the production of khadi flags will come under trouble.'
As Japan expands state of emergency, calls grow to cancel Games. Japan has repeatedly insisted it will hold the Games despite opinion polls showing a majority of respondents want them postponed again or cancelled.
The approval comes a day after Sinopharm said its vaccine showed 79.34 per cent efficacy and a 99.52 per cent antibody-positive conversion rate in the interim results of the Phase III clinical trials.
He added every dollar rise in the gas price will result in Rs 4,000 crore of revenue and Rs 2,300 crore in profit after tax.
'People are distressed that the central government is fighting everyone'
Dominic Xavier says there is an urgent need to implement the NEP and quickly reduce the gap in the pupil-teacher ratio.
The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC. The parties are awaiting approval from the Competition Commission of India (CCI).
IMF members will also be examining whether China's heavy intervention in the yuan market was befitting of a freely convertible reserve currency
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