Existing norms mandate 2/3rd of members of an airline's board must comprise Indian nationals
Reiterating that there was no change in policy on foreign institutional investors' investment in India, Securities and Exchange Board of India said on Friday that FIIs will have to phase-out derivative instruments like participatory notes
Diversified business conglomerate Mahindra and Mahindra (M&M) has picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs. 417 crore. "We may consider further investment, subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9 per cent," M&M said in an exchange notification on Wednesday. Shares of RBL Bank jumped 7.1 per cent to settle at Rs. 238.8 apiece on the BSE on Wednesday, close to their 52-week high of Rs. 242.1.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
Water projects firm Vishnu Prakash R Punglia, the 20th company to launch its IPO in the current year, saw its shares closing at a 47 per cent gain over its issue price on Tuesday. Such a huge one-day pop is considered rare; however, it has become the norm this year. The average listing-day gain for these 20 IPOs in 2023 is 34 per cent, and their average gain to date stands at 46 per cent.
Finance Minister Nirmala Sitharaman in his Budget speech said that India's FDI inflows in 2018-19 grew by 6 per cent to $64.37 billion.
As funding from foreign private equity and venture capital firms is the lifeline for most online retailers, the restriction on foreign direct investment is threatening to block any fresh investment into the sector.
The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
Retail, telecom, media and a host of sectors in which foreign direct investment is restricted stand to gain from changes in FDI policy that the Cabinet Committee on Economic Affairs cleared on Wednesday linking approvals to the concept of control for the first time.
The government is likely to exempt iPhone and iPad maker Apple from mandatory local sourcing rule, a move which would pave the way for tech giant opening single-brand retail stores in the country.
Market regulator Securities and Exchange Board of India would be doing away with different procedures and avenues for many categories.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Within five days of the budget, the RBI brought in housing loans below Rs 50 lakh under priority sector lending.
In a wide-ranging overhaul of rules to make India an easier, safer and attractive investment destination, Sebi on Tuesday unveiled a new set of streamlined entry norms for foreign investors, while putting in place checks against any wrongdoings by the company promoters.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy."
A new regulation concerning the disclosure of family arrangements by listed companies is exacerbating rifts between feuding shareholders. The latest example is Bengaluru-based TD Power Systems (TDPS), currently enmeshed in a legal dispute before the Karnataka high court over ownership of its 16 per cent equity. Vijay Kirloskar, who is asserting a claim over the 16 per cent stake held by Mohib Khericha (chairperson of TDPS) and Nikhil Kumar (managing director of TDPS and nephew of Kirloskar), has sent a letter to the market regulator, Securities and Exchange Board of India (Sebi), and stock exchanges. He accuses TDPS of insufficient disclosure concerning shareholder agreements.
While investing in mutual funds, it is essential that you focus on the turnover rate percentage of a mutual fund, which is bought and sold every year.
The main sectors that receive the maximum foreign inflows include services, computer software and hardware, telecommunications, trading, construction, automobile, and power.
The government also increased the power of the FIPB.
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Single-brand retailers are also allowed to take e-commerce route for such trading.
Amid a government scrutiny into the alleged breach of FDI norms by Hutchison Telecom International, the Hong Kong-based firm on Monday asserted its Indian mobile venture Hutch Essar Ltd (HEL) did not violate any regulations.
Private equity players believe it to be lucrative to invest in designer labels.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
The government on Wednesday said it is contemplating relaxing norms governing external commercial borrowings to enable Indian corporates access higher foreign capital at low cost.
Billionaire Mukesh Ambani's Reliance Retail on Thursday told the government that complex legal structures have been used by some firms to bypass the country's e-commerce rules which from the very beginning do not allow foreign capital in the inventory-based model. At a meeting called by the commerce ministry on allegations that foreign online retailers created complex structures to bypass foreign investment rules and damage small traders, Amazon urged the government not to issue any clarification until investigations into its business practices had been concluded, sources said. At the meeting, Reliance Retail's representatives said the Indian e-commerce policy does not allow foreign capital in the inventory-based model and foreign investment is allowed only in pure technical infrastructure/ platform that facilitates the meeting of buyer with sellers.
Anand Sharma said the Rs 2,060-crore Jet-Etihad deal falls in line with new 'control' definition.
The deficit increased to $ 57.2 billion or 2.1 per cent of gross domestic product (GDP) in 2018-19 as against 1.8 per cent in the previous year.
The decline could be attributed to several measures taken by the market watchdog to stop the misuse of the controversy-ridden participatory notes.
The government wants the RBI to part with most of its profit as dividend.
'Investors don't have to worry about underperformance in passive funds, which earn market-equivalent returns.'
Patel said that he was prevented from travelling to the US despite a Gujarat court order granting him permission "specifically" for the said trip.
May bar premature withdrawals from fixed maturity plans.
The investment limit for foreign entities in Indian stock exchanges will be enhanced from 5 per cent to 15 per cent on par with domestic institutions.
'The number of first-time investors into MFs can grow four times more than the current rate if we are able to accept the bank KYCs.'
The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.
It started out as a Production Linked Incentive (PLI) scheme to make India an export hub. But after many a twist and turns, the latest 2.0 PLI for IT hardware, for which the 40 eligible candidates have applied till its deadline, is now focused on 'import substitution'. The scheme will help in reducing India's over-dependence on imports (80 per cent of laptops are imported), especially from China which include laptops, tablets and servers.
Draft norms reduce investment ceiling from 25% to 5%.
Finance Minister P Chidambaram said India needs to raise investment in infrastructure from the current level of five per cent of GDP to nine per cent of GDP over the next five years. Theinitiative for dedicated infrastructure funds were stalled due to the lack of projects, he added.
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