The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
The agreement was reached in intensive negotiations between contact groups that Obama and Modi had set up in September.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
With the help of Practo Ray, doctors can share reports.
Five key capital market announcements from the previous Budget.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
The announcement comes on the first anniversary of the project.
"In India, the sector will grow to $10 billion by 2018," predicts Vishal Bali, co-founder, Medwell Ventures, in an interview with Apurva Venkat.
Industry fears tougher US stance on IP after President Donald Trump asserted that foreign countries must pay a fair share for drug development costs. Aneesh Phadnis reports.
'More than 900 companies believe that the majority of their employees worry about AI's role in potential job losses.' 'It makes employees anxious about working with machines or AI applications and fuels resistance to change,' says a Capgemini report.
Mudra Bank will be a Rs 20,000-crore institution, which would "primarily be responsible for refinancing all micro-finance institutions.
.jpg)
Ayurvedic expert Dr G G Gangadharan on how the ancient Indian medical practice needs to be propagated in the country of its origin
The curious thing is that savings instruments have not really kept pace with changing needs, although people have access to a wider variety than before.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
Rediff.com tries to recap the debate and presents the highlights from the event.
Will it trigger a social and management revolution as well, asks Ajit Balakrishnan.
Not all change is good, but this one is, applauds Shekhar Gupta.
"There are not sufficient number of applications received by the government. The extension in the last date has been given to allow more people to apply for the posts," a senior government official said.
The government wants to reduce the rate of contribution - part of the employee's share - for a class of workers depending upon age, income or gender, without changing the contribution from the employer's share.
This, the Congress said in its political resolution, was necessary as there were misgivings on the 'misuse' of EVMs to 'manipulate the outcome contrary to popular verdict.' The resolution called for reverting to the old practice of paper ballot as adopted by other major democracies to help restore the credibility of the electoral process.
It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
The Congress said arrogance of the BJP has touched its zenith as it turned 'blind' to farm distress.
Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
In IT, the two-way flow of investments and intellect has been central to the growing linkage, which provides a great opportunity for both nations to improve the quality of life of their citizens, says Raman Roy.
The National Highways Authority of India will this year witness the highest ever growth out of the last decade. But Gadkari himself admits his biggest failure as India's roads minister has been his inability to curb loss of life in road accidents.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
It is best to invest long-term surplus in stocks or equity mutual funds.
'The world does not care about the tension on our border.' 'India has to emerge as a strong economic power.' 'Respect comes when the world sees a country with a direction and leadership that has a vision,' points out Ramesh Menon.
When he speaks of them, it is either in denial or to highlight successes that are only part of a larger story that is worrisome in its totality, observes T N Ninan.
In a video issued by the Health Ministry, Dr Randeep Guleria, Director of the All India Institute of Medical Sciences (AIIMS) answered commonly asked questions regarding the dosage of the vaccine saying that two doses of the vaccine will have to be taken 28 days apart and protective levels of antibodies generally would develop two weeks after the second dose.
Oil prices have declined by more than 60 per cent since January with benchmark crude falling well below $30 per barrel, driven by an acute oil demand decline caused by the coronavirus and a lack of production cuts by OPEC and other oil producing countries.
US sanctions against Iran kick in from November 4, which will block payment routes. Sources said India and Iran are discussing reverting to rupee trade after November 4.
The Union home ministry and the labour ministry have asked state governments to coordinate with the chief labour commissioner's (CLC's) office to give a comprehensive data of all the migrant workers by April 11.
The Prime Minister's Office has suggested that EPFO should deploy 15 per cent of its funds as loan for low cost housing saying it would generate a credit flow of Rs 70,000 crore (Rs 700 billion).
Dear readers, we had asked you to send in your personal finance queries to be answered by Basis founder and CEO Hena Mehta. Here's the first batch of responses.
If Jatin Singh is right in the long run and his morphed business can help reduce farmer distress, Skymet will provide a service of far more value from where it began
