Bank credit growth is expected to moderate this financial year after a robust 16 per cent estimated for last financial year, driven by strong economic activity and retail credit demand. There are three reasons for this: a statistical high-base effect given the strong growth seen last financial year, revision in risk weights by the Reserve Bank of India (RBI), and relatively slower economic activity.
Though a settlement will provide respite from a long legal battle, legal experts say it may create a perception of guilt.
Food and grocery delivery major Zomato has pulled the plug on its plan to enter the lending business. Zomato Financial Services, a wholly-owned subsidiary of Zomato, has withdrawn its application for a non-banking financial company (NBFC) licence with the Reserve Bank of India (RBI), stating that the company does not have plans to pursue lending in the future. "There is no material impact on the revenue/operations of the company and this disclosure is being made voluntarily," the Gurgaon-based company said in a regulatory filing on Tuesday.
The Securities and Exchange Board of India (Sebi) has permitted 100 per cent contribution from non-resident Indians (NRIs) and overseas citizens of India (OCIs) in the corpus of foreign portfolio investors (FPIs) based out of Gujarat International Finance Tec-City (GIFT City), the country's international financial services centre (IFSC). However, the Indian diaspora is yet to fully embrace this new route. The regulator allowed this route to enhance the fund ecosystem at GIFT City and attract genuine investments from overseas Indians.
A study reveals that top business houses in India are reluctant to voluntarily disclose important information.
The disclosure of files provided by India's second army chief General Sir Roy Bucher to Nehru Memorial Museum and Library about Jammu and Kashmir related to the period of 1947-49, which may throw light on Accession, is in 'national interest,' the central information commission has observed in an order.
Religare Enterprises, a financial services firm, has disclosed that the Reserve Bank of India (RBI) turned down its application to appoint Rakesh Asthana as its whole-time director in May this year without citing any reasons. Asthana is a former top official of the Central Bureau of Investigation (CBI). In a notice to the stock exchanges, Religare said that while the company and Asthana were weighing the options of dealing with the letter of refusal by the RBI, it was also busy in preparing for the "herculean task" of making ready multiple applications to regulators.
India will place restrictions on foreign direct investment (FDI) in the national interest to ensure safeguards because of its location in a highly sensitive neighbourhood, Finance Minister Nirmala Sitharaman said during an interactive session at the Wharton Business School in the US on Tuesday. "I cannot blindly accept FDI simply because we need investment, unmindful of where it is coming from. "We want business, we want investment, but we also need some safeguards, because India is located in a neighbourhood that is very, very sensitive," Sitharaman said.
Justice Manoj Kumar Ohri noted the prosecutor appearing in the case hadn't appeared on the last four to five occasions.
Tata Steel is in the process of filing a curative petition in the Supreme Court in connection with the apex court ruling which said that states have the power to levy cess on mining and mineral-use activities. The petition by the steel manufacturing firm is aimed at seeking remedy to the order, passed by a 9-judge Constitution Bench of the Supreme Court on July 25. However, Tata Steel's managing director and chief executive officer T V Narendran told Business Standard that there was no demand note on the firm.
The Pakistan government has issued an order barring all government employees from using social media without permission to stop disclosure of official information and documents, The News International reported.
The ECI data covers 20,421 bonds worth Rs 12,769 crore. The ADR data, however, collated information on 27,811 bonds worth Rs 16,492 crore. The gap is nearly Rs 4,000 crore and involves over 7,000 bonds.
The Securities and Exchange Board of India (Sebi) has proposed sweeping changes to the rights issue framework to enhance its attractiveness, aiming to make it the preferred route for additional fundraising by listed companies. Among the changes proposed by the market regulator are reducing the timeline to first 20 days and then to just three days, allowing shareholders to renounce their rights entitlement to investors of their choice, and eliminating the requirement to appoint an investment banker or file a draft letter of offer.
A five-judge constitution bench headed by Chief Justice D Y Chandrachud said there is "no manner of doubt" that the SBI is required to disclose complete details of the bonds.
Sections of our media and elites take Western reports/judgements at face value and are ready to condemn the targets without understanding the deeper power linkages behind such actions, asserts Colonel Anil A Athale (Retd).
Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
A day after Suresh, a prime accused who was recently released on bail gave a series of interviews to television channels, Leader of Opposition in the state Assembly V D Satheesan accused Chief Minister Pinarayi's office of intervening to get the illegal baggage released and helping the accused to leave the state.
Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class' rising propensity of online ordering. The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy. "We are also reading about it, but we are not seeing that yet in the business... So far, we have not seen the impact of demand on our business," its chief financial officer Rahul Bothra said.
The challenge before the management is ensuring simultaneous disclosure of key information to stock exchanges and investigating agencies.
Following a review of peer-to-peer (P2P) platforms, certain issues -- including high non-performing asset levels, significantly high balances in escrow accounts, and non-compliance with net owned fund and disclosure requirements -- came to the RBI's attention.
No single individual, institution, or action is to blame for this. The BJP is responding in kind -- definitely not without checking with its government. And they wait for Mr Trump, notes Shekhar Gupta.
Investors should match their investment horizon with the fund's portfolio duration.
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
The top court said it had already passed an order on this issue and it was for the law enforcement agencies to implement the order.
Securities and Exchange Board of India has asked the petroleum ministry to put in place a warning system to alert investors of any premature declaration or non-disclosure of an oil and gas discovery by a company.
The Madhya Pradesh forest department has refused to provide information under the Right to Information Act on management of cheetahs brought from Africa and their cubs born in India.
The Central Bureau of Investigation has listed 11 pieces of evidence, such as reports of DNA and blood samples, in its charge sheet to hold arrested Kolkata Police civic volunteer Sanjay Roy as the 'sole accused' in the rape and murder of a woman doctor at the RG Kar hospital in Kolkata.
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
The assertion comes in the wake of the Supreme Court directing the SBI to submit the details of the electoral bonds purchased since April 12, 2019 to the EC.
'The global median of whistle-blower complaints is 1.5 per cent of the total employees. India's reporting is far away from this average.'
The Centre on Tuesday said it will not seek disclosure of flash sales from e-commerce players to regulate the fraudulent sale of goods and services but will take appropriate action as per the law on consumer complaints. Discount sales that benefit maximum to consumers will continue, but not fraudulent flash sales on the e-commerce platforms, the government said, adding that the e-tailers need not be "anxious" about the draft rules. Ban on fraudulent flash sales, mis-selling and appointment of chief compliance officer/grievance redressal officer -- are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government has sought public comments by July 6.
'A 20 per cent equity allocation to ESG funds is a good start.' 'As more evidence on ESG performance builds, investors may increase allocations.'
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
New companies law will impose stricter provisions on firms to ensure shareholders' security and non-violation of norms.
'The whole set was in awe. Those five days of shooting were an unforgettable experience.'
Infosys, Bharti Airtel and ICICI Bank are the only companies who have managed to score 100% on a Composite Disclosure Index
The top court said it cannot order a roving inquiry into purchase of electoral bonds on the assumption that it was quid pro quo for award of contract.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
On a daily basis, AMCs are required to disclose the Total Expense Ratio of all mutual fund schemes except infrastructure debt fund schemes on their respective websites.
