The 21st AGM of the company is scheduled to be held in Mumbai on Friday.
In a significant message to the business lobby in Washington, the Union Cabinet on Thursday gave its nod to the Civil Nuclear Liability Bill.The move will encourage the nuclear power plant manufacturing companies, which have been eyeing the Rs 60,000-crore plus market in India, for the next 5-10 years. According to sources, the government will fix the civil liability at approximately Rs 2,400 crore for the manufacturers.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
The scion of the erstwhile Mysuru royal family and Bharatiya Janata Party candidate from Mysore-Kodagu Lok Sabha constituency Yaduveer Krishnadatta Chamaraja Wadiyar does not own a house, land or even a vehicle, according to his election affidavit.
Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network. "Banks are taking greater recourse to short-term non-retail deposits and other instruments of liability to meet the incremental credit demand. "This, as I emphasised elsewhere, may potentially expose the banking system to structural liquidity issues," he said.
Total liabilities of the government increased to Rs 107.04 lakh crore at end-September 2020 from Rs 101.3 lakh crore at end-June 2020, official data on public debt showed on Wednesday. This represented a quarter-on-quarter increase of 5.6 per cent in Q2 FY21. Public debt accounted for 91.1 per cent of total outstanding liabilities at end-September 2020, as per the latest quarterly report on public debt management.
In view of the rising number of mobile and internet banking users, the Reserve Bank of India (RBI) has proposed to tighten norms related to the liquidity coverage ratio (LCR) by increasing the run-off factor for retail deposits. "Banking has undergone rapid transformation in recent years. "While increased usage of technology has facilitated the ability to make instantaneous bank transfers and withdrawals, it has also led to a concomitant increase in risks, requiring proactive management," the RBI said in the draft guidelines released on Thursday.
Cyber crimes caused by the insured's employees also get covered under the policy but would exclude the actual perpetrator.
'The Casa ratio is at 33.4 per cent, which has to keep improving. Right now, there is a bit of liquidity pressure in the market.'
Health insurance coverage should be hiked periodically to keep pace with medical inflation, or increase in healthcare costs.
A case was registered by the police against Congress MLA Channareddy Tannur and his son Pampanagouda Tannur on Saturday after a Dalit sub-inspector allegedly died by suicide, following his transfer within seven months of posting.
Public sector banks (PSBs) posted 16.1 per cent year-on-year (Y-o-Y) growth in net profit at Rs 39,974 crore during the June 2024 quarter. While net interest income (NII) showed subdued growth of 7.1 per cent, provisions and contingencies declined by 10.5 per cent Y-o-Y. This aided the bottom line to show steady growth.
With declared assets worth over Rs 600 crore, Chennur Congress candidate G Vivekananda is the richest politician contesting in the November 30 assembly polls, followed by P Srinivas Reddy from the same party with over Rs 460 crore.
Bharatiya Janata Party candidate from Chevella Lok Sabha constituency K Vishweshwar Reddy has emerged as one of the wealthiest contestants in Telangana after he declared his family assets worth Rs 4,568 crore, according to an affidavit he filed with the election authorities.
Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors. Further, the cost paid by the shareholder to acquire these shares will be considered for computation of capital gains or loss to them.
In addition to regulatory actions against small and midcaps, tighter liquidity conditions are another headwind that stocks are facing this month. Market observers say advance tax outflows and capital gains-related adjustments will weigh on the markets in the near term.
The share of equity and investment funds in the total financial wealth of households increased by more than 50% between 2011-2012 and 2022-2023.
'Earlier there was no provision for considering TCS collected from the taxpayer for overall tax computation.' 'Now, credit will be given by the employer for TCS already collected to consider net tax to be deductible.'
The Reserve Bank has permitted PNB to make provisions against the fraud amount.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
Iron ore mining major NMDC's results for the April-June quarter (Q1) of FY25 were better than estimates. Weak volumes were balanced off by higher realisations, better average selling price (ASP) and lower royalties which boosted bottomline. The revenue was in line with estimates at Rs 5,400 crore, flat year-on-year (Y-o-Y) and down 17 per cent quarter-on-quarter (Q-o-Q).
Rahul Gandhi, who is seeking a successive term from the Wayanad Lok Sabha seat, has declared assets of over Rs 20 crore in his nomination papers.
While the cap on liability is lower than in several other countries, few producers, including those in India, will supply nuclear power equipment without such a bill -- raising the caps is an obvious solution.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
An obviously chagrined United States-India Business Council, which has lobbied feverishly for the passage of the US-India civilian nuclear deal in the US Congress, on Monday issued a guarded reaction to the passage of the nuclear liability bill in the Parliament that had 'compromised on the indemnity clause demanded by American companies to protect it from liability in case of a nuclear accident.'
Ending months of wrangling between treasury benches and the opposition, the Lok Sabha on Wednesday passed the civil nuclear liability bill after government dropped the contentious provision of 'intent' in the case of accident adopting a Bharatiya Janata Party amendment, paving the way for nuclear commerce with the world.
Bowing to pressure from the Bharatiya Janata Party and the Left parties, government on Friday dropped a controversial addition in the civil nuclear liability bill which the Opposition said diluted the liability of suppliers for accidents caused by their negligence.
Kathuria's wife Shima told PTI that her husband had no idea about the gate breaking apart due to his car, adding that his arrest has created a "state of panic" for the family.
Greenpeace has also launched a petition addressed to Prime Minister Manmohan Singh, which the organisation claims has been signed by over 21,000 people.
"In national interest, I wish to caution Prime Minister Dr Manmohan Singh that your dependence on Communist support will prove to be a liability for anything good you many wish to do," the BJP chief said.
A nuclear liability regime would ensure compensation to the public in the event of an accident.
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
In financial year 2020-21, the BJP declared assets worth Rs 4,990 crore, up by 21.17 per cent to Rs 6,046.81 crore in 2021-22.
