Only 2.5 per cent of the equity in Jio Platforms will be offloaded through the OFS route -- meant for secondary share sale.
Under the RFQ, companies had to initially participate in technical bids based on certain minimum criteria such as net worth, experience and so on. Only five or six companies that scored the highest on this basis were then permitted to put in financial bids.
HDFC Bank has launched an independent review by external law firms following the abrupt resignation of Chairman Atanu Chakraborty, who cited 'ethical concerns and practices within the bank' as the reason for his departure.
The finance ministry is looking at a reworked proposal from mobile device makers on how to fight the rampant and growing smuggling of very high end phones. The proposal suggests reducing the basic customs duty (BCD) on phones which have a CIF (cost, insurance and freight or price at landing in the port) value of over Rs 35,000-Rs 40,000. The retail value of these phones is upwards of Rs 70,000.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
External Affairs Minister S Jaishankar has emphasised India's commitment to safe maritime transit and condemned attacks on merchant shipping amidst the ongoing West Asia conflict and global energy market disruptions.
Pakistan has received the second and final tranche of USD 1 billion from Saudi Arabia, completing a USD 3 billion aid package aimed at boosting its foreign reserves, the state bank said.
With the Union Budget 2026, India's 74th, fast approaching, all eyes are once again on New Delhi's North Block as Finance Minister Nirmala Sitharaman is preparing to table it on February 1, 2026, marking her ninth Budget presentation in a row.
The government hopes the latest action will lead to banks also lowering the cost of borrowing for corporate and individual borrowers.
The finance ministry is learnt to have raised a serious objection to the proposed relaxation in the foreign direct investment norms in restricted sectors such as telecom and insurance.According to sources in the government, in a meeting of a group of ministers on Tuesday, the finance ministry representatives argued that the proposed relaxation would effectively remove the current limits in the respective sectors. Sources said senior members of the GoM also objected.
People giving me unasked for advice of discipline and restraint don't realise that if I disregard discipline there would be a bloodbath.
Lenders are actively monitoring gold price volatility, prompting them to ask borrowers for additional gold collateral or partial principal repayment when loan-to-value (LTV) thresholds are breached, particularly for loans disbursed in February.
The Reserve Bank of India (RBI) has issued a statement assuring the public of HDFC Bank's stability and sound financial position following the resignation of its chairman, Atanu Chakraborty, citing ethical concerns.
Andhra Pradesh is spearheading an ambitious initiative to establish a fully integrated beach sand minerals, rare earth, and titanium ecosystem, aiming to attract over 50,000 crore in investments over the next decade. This move is part of India's broader strategy to reduce its reliance on China for strategic minerals and permanent magnets, with the state preparing a comprehensive rare earth policy and planning specialised industrial clusters.
Finance Minister Nirmala Sitharaman on Sunday makes history as she presents a record ninth consecutive Budget that is expected to unveil measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could buffer the economy from global trade frictions, including US tariffs.
'This year's detection of frauds and probable recovery will be mainly driven by several compliance measures put in place, and amendments made to the GST regime to plug revenue leakages particularly in new-edge sectors.'
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
The IndiaAI Mission, under MeitY, has selected 10 Indian AI startups for its Global Acceleration Programme, aimed at fostering international growth and innovation.
The Central Board of Indirect Taxes and Customs (CBIC) announced the implementation of the Eligible Manufacturer Importers (EMI) scheme from April 1, allowing eligible importers to defer customs duty payments.
The Financial Times, citing multiple bankers and shareholders, reports that the real tensions ran far deeper than compliance concerns.
The National Stock Exchange, Bombay Stock Exchange, MCX Stock Exchange and United Stock Exchange have been invited for the August 6 meet.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
A 25-year-old woman, allegedly a key drug trafficker in Delhi, has been detained under the PIT-NDPS Act and will be moved to a Chennai prison to disrupt her network.
The row over the 2G note on Tuesday resonated in the Joint Parliamentary Committee meeting with members alleging that facts were being suppressed, prompting the Committee to summon two top finance ministry officials besides demanding affidavits from government that all relevant documents have been given.
The review will help all the banks find if there is any loophole.
Falling rupee, sluggish stock market is set to make his task more challenging.
The MPC states that the 4 external members will have a tenure of four years each.
The instructions cite service rules that bar any government servant from making any adverse criticism of any policy or action of the government.
The Bangladesh Cricket Board (BCB) is attempting to repair strained relations with the BCCI after pulling out of the T20 World Cup in India, seeking to revive India's white-ball tour in September.
Haryana's Chief Minister Nayab Singh Saini reviewed the progress of the Haryana AI Development Programme (HAIDP), a Rs 474-crore initiative developed with the World Bank, focusing on AI skilling, startup incubation, and ethical AI governance.
Set to file nomination papers for the Presidential poll, a sentimental Pranab Mukherjee on Tuesday resigned as finance minister to "embark on a new journey", leaving behind his four-decade stint as a political activist.
India's consumer price index (CPI)-based inflation could ease in the coming months thanks to the arrival of kharif crops, lower international commodity prices, and a pass through of lower input costs to consumers, the finance ministry said in its Monthly Economic Review (MER) for October, which was released on Thursday. The MER, however, warned that the global macroeconomic situation remained precarious and a recession in many advanced economies would impact India's exports. "Easing international commodity prices and new Kharif arrival are set to dampen inflationary pressures in the coming months.
The roll-out of 3G or third-generation mobile telephony services, scheduled for this year-end, may be delayed after the Ministry of Finance strongly criticised the Department of Telecommunications for announcing 3G guidelines without consulting it. In a communication with the DoT earlier this week, the finance ministry said the move was inappropriate and contrary to a 2003 cabinet decision.
Samrat Choudhary's appointment as Bihar's Chief Minister marks a significant milestone for the BJP, ushering in a new era of leadership in the state's political landscape.
Finance Minister Nirmala Sitharaman stated that it is premature to comment on the tariff changes announced by the United States, adding that the commerce ministry is currently reviewing the situation.
'It's a changing world and the opening up doesn't mean that concerns with regards to security have gone away.'
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar sustained a hairline fracture in his shoulder after a fall during a reception for his Egyptian counterpart. Despite the injury, he continued with scheduled meetings throughout the day.
