The Delhi high court on Thursday asked the Centre to look into "afresh" the accounts of Aam Aadmi Party to find out the source of money received by it after its inception.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
Prime Minister Narendra Modi on Sunday made a fresh push for reforms in global institutions, including the United Nations, asserting that the world's 'new realities' should be reflected in 'new global structure' as it is nature's law that those who don't change with times lose their relevance.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
The Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar Pradesh, Meghalaya, Maharashtra and others. The agency is conducting searches at 44 places related to Vivo and associated companies, they said.
BSE, the oldest stock exchange in Asia, aims to raise up to Rs 1,243 crore from the IPO, which has a price band of Rs 805-806 per share.
The regulator may float consultation papers for FPIs and private equity funds and the final decision will be taken after taking into account views of all the stakeholders
The filing of offer documents with the capital markets regulator - Securities and Exchange Board of India - has more than halved this financial year (2022-23, or FY23) as the outlook for new share sales has worsened, following correction in the secondary market. So far in FY23, 66 companies filed their draft red herring prospectus (DRHP), as opposed to 144 in the preceding financial year (2021-22, or FY22).
Taxing the rich will fetch nothing; only votes, argues Debashis Basu.
The matter came up for hearing before a bench headed by Justice D Y Chandrachud which had on September 15 restrained the channel from telecasting episodes of the programme till further orders, saying 'the intent' of aired episodes 'prima facie' appears to 'vilify' the community.
A bill to increase foreign direct investment (FDI) in the insurance sector from 49 per cent to 74 per cent was approved by Parliament with the Lok Sabha giving green signal to the legislation by a voice vote on Monday.
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
Talks of a merger between HDFC Bank and parent HDFC Ltd had gained steam nearly eight years ago, when the Reserve Bank of India allowed banks to issue long-term bonds to fund infrastructure and affordable housing. At that time, key executives at both entities denied any such proposal. And today, the merger has been officially announced by the two players.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
'It is especially discouraging for young people in the development sector. I've noticed that many of them are actively considering other career options to escape this atmosphere.' Geetanjali Krishna reports.
New regime places more limits on unregulated foreign entities
The clarification by the National Securities Depository (NSDL) - which is tasked with monitoring foreign portfolio investor (FPI) investment in domestic stocks - that the accounts of top investors in Adani group stocks remain 'active' has helped prevent a $500-million selloff of shares. Analysts said a freeze of the FPI accounts, as reported by some media outlets, could have prompted global index providers to cut weighting of four Adani group companies from their global indices. Brian Freitas, an analyst at independent research provider Smartkarma, said if the FPI accounts were indeed frozen, FTSE and MSCI would have reduced weighting of Adani group companies at the next rebalance, since it would have meant that the large part of the free float was not tradeable.
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
Many claim they fear witch hunts for disagreeing with those in power.
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Relaxing its norms for foreign investors, Sebi on Thursday allowed overseas entities using complex multi-fund structures to invest in India, if they need to use such models due to regulations in their home country and they are ready to provide details of actual beneficiary of funds.
Monday saw the Sensex post its weakest closing since July 11 when it settled at 36,265.93. In the previous four sessions the index had lost 1,249.04 points.
The United States on Wednesday expressed concern over punitive action taken by the National Democratic Alliance government against scores of non government organisation, asserting that a vibrant civil society was important for democratic traditions and that those who act peacefully to seek change are not anti-government.
The Ministry of Home Affairs on Monday said the Missionaries of Charity's application for renewal of the Foreign Contribution (Regulation) Act (FCRA) registration was refused on December 25 for not meeting eligibility conditions as some adverse inputs were received.
The move will increase working capital requirement for brokers, raise the work load on the system and will leave little room for contingencies.
The department had launched searches against the 48-year-old actor and the Lucknow-based group of industries involved in infrastructure on September 15 and the CBDT said the action was continuing.
Sebi widens fraudulent, unfair trade practices list
The company will finalise the final pricing for allotment of shares later.
The Centre told the Supreme Court on Monday that religious freedom does not include a fundamental right to convert other people to a particular religion and that it certainly does not embrace the right to convert an individual through fraud, deception, coercion or allurement.
Likening India to the "cleanest among the dirty shirts" left with a person towards the end of a business visit, a foreign fund house said the country presents enormous growth potential despite the "kind of mess" it has been in for many years.
In the near term, two key factors are the outcome of the monsoon season in respect to cropping yields; and the correction in the crude oil price.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
The CBI had sought the sanction of the government to prosecute the international human rights organisation because of mandatory clause of Section 40 of the FCRA.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
'Sebi has to make sure that investor interests are protected and at the same time, there isn't over-regulation so that companies don't get discouraged to list here.'
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
The new norms provide an operational framework for FPIs, a new class of overseas investors that club all existing class of investors like foreign institutional investors and Qualified Foreign Investors.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
