The Cabinet on Wednesday approved the National Mission on Edible Oils - Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to promote domestic cultivation of oil palm in the next five years, and reduce the country's dependence on edible oil imports. The decision comes after Prime Minister Narendra Modi announced the new central scheme on August 15 during his Independence Day speech at Red Fort. Briefing the media, Union Information and Broadcasting Minister Anurag Thakur said the Cabinet approved the NMEO-OP with a focus on the northeast region and the Andaman and Nicobar Islands with a financial outlay of Rs 11,040 crore.
The country's largest private sector lender HDFC Bank on Saturday reported a 23 per cent jump in standalone net profit to Rs 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed. The bank's net profit during the corresponding period of the previous fiscal stood at Rs 8,186.51 crore. "After providing Rs 2,989.5 crore for taxation, the bank earned a net profit of Rs 10,055.20 crore, an increase of 22.8 per cent over the quarter ended March 31, 2021," HDFC Bank said in a regulatory filing.
A host of conspiracy theories followed, involving Indira Gandhi, her younger son Sanjay, his favourite small car project, secret funding of the Bangladesh Mukti Bahini and even the Central Intelligence Agency of the United States.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The Supreme Court on Friday directed Parsvnath developers to hand over possession of a flat in its Gurgaon project to Minister of State for Information and Broadcasting Rajyavardhan Singh Rathore in two days.
In four days, Sensex has fallen by 5,815.25 points. From the 30-share pack, 22 companies closed the day lower, led by Bajaj Finance, Maruti Suzuki India, Axis Bank, M&M, Tech Mahindra and ONGC, plunging up to 10.24 per cent.
Axis Bank on Wednesday said it has completed the acquisition of Citibank's retail business in India for a final cash consideration of Rs 11,603 crore. The sale excludes Citi's institutional client businesses in India. The third-largest private sector bank said the acquisition, announced first in March last year, will not necessitate any new capital requirements and stressed that the attrition numbers on customers are much better than expected.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Chief Minister Arvind Kejriwal announced that children who have lost their books and uniforms in the violence, will be provided the same free of cost.
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Under Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, known as Basel-III.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your mutual fund queries.
"It has a special place in our product strategy. Millions of Indians own compact cars. With growing incomes and better lifestyle, many of them want to upgrade to a sedan. But on Wednesday, they are not able to find an entry level sedan that offers style, features and performance. The DZire offers all this, and at an attractive price," Maruti Suzuki India Managing Director S Nakanishi said.
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
Of the 23 companies, eight have raised funds after Shark Tank India.
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
The Reserve Bank of India (RBI) on Monday fixed the tenure of MD, CEO and whole-time director (WTD) in a private sector bank at 15 years and prescribed the maximum age of 70 years for such functionaries. These directives form part of the instructions issued by the RBI with regard to the chair and meetings of the board, composition of certain committees of the board, age, tenure and remuneration of directors, and appointment of the WTDs on Monday. The RBI said it would come out with a Master Direction on Corporate Governance in banks in due course.
The safety and security of citizens is primary for the government, he said.
An ordinance to amend a law to reduce the salaries of MPs by 30 per cent for one year "to meet the exigencies arising out of COVID-19 pandemic" was promulgated.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Prime Minister Narendra Modi made a pitch for electing a strong and stable government in an uncertain world beset by geopolitical tensions as the Bharatiya Janata Party on Sunday released its manifesto, prioritising development and welfare while shunning populist measures and contentious issues like the National Register of Citizens (NRC).
Wholesale prices too rose at the same pace to 45-55 per kg in the national capital and other states.
Audi, the German luxury car manufacturer, will launch its new Audi A4 sedan in July this year. The A4 is priced at Rs 29 lakh (Rs 2.9 million) (ex-showroom Mumbai without sales tax, transportation, etc).
Senior Aam Aadmi Party leader and Gurgaon candidate Yogendra Yadav on Thursday declared his assets to the tune of about Rs 3 crore, which includes farm land, commercial booth and sizable amount of bank deposits and Provident Funds.
The Toyota Land Cruiser Prado provided by sugar baron Murugesh Nirani has stirred the hornet's nest after reports that the seven-seater luxury vehicle would be used by Yeddyurappa to travel around the drought-hit parts, with questions raised about its propriety.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
The COVID-19 virus got mutated 223 times in the world and its harmful effects have come down substantially over time, Union Health Minister Mansukh Mandaviya said in Lok Sabha on Friday.
Cases across the country against defaulters who owe over Rs 1 crore each, reveal CIBIL data.
The Allahabad high court on Friday issued a notice to Prime Minister Narendra Modi on a petition challenging his election from the Varanasi Lok Sabha constituency in Uttar Pradesh.
The value and volume of banknotes in circulation increased by 7.8 per cent and 4.4 per cent, respectively, during 2022-23 as compared with 9.9 per cent and 5 per cent, respectively, in 2021-22, revealed the RBI annual report released on Tuesday. In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 87.9 per cent of the total value of banknotes in circulation as on March 31, 2023, as compared to 87.1 per cent a year ago. The Reserve Bank has announced withdrawal of Rs 2,000 notes, and holders of the highest value currency have been given time till September 30 to exchange or deposit them.
Following the sharp rally in stocks, investor wealth rose by Rs 1,39,948 crore to Rs 1,10,70,610 crore.
An estimated Rs 39 crore in cash and over 1.67 lakh litres of illicit liquor has been seized by Election Commission-appointed teams in the Bihar assembly elections till now.
A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh
Virat Kohli has been fined Rs 12 lakh for maintaining slow over-rate during their Indian Premier League (IPL) against Chennai Super Kings, in Bengaluru, on Wednesday night.
Statements of five 'Angadiya' firm operators have also been recorded by the ED to establish the "money trail" of this alleged Rs 45 crore bribe amount.
And why markets could give up 25 per cent of all these gains made since March 2020
In upmarket colonies, the bulb, a key ingredient in many Indian dishes, cost as high as Rs 70-80 a kg.
The new service will travel through 18 countries and each bus will accommodate 20 passengers.
Nine of the top 10 most valued companies witnessed a combined erosion of Rs 1,63,510.28 crore in market valuation last week, with Reliance Industries emerging as the biggest laggard.
The market capitalisation of BSE-listed companies surged to Rs 98,11,322 crore.
Telangana Chief Minister K Chandrasekhar Rao announced Rs 10,000 as immediate relief to each flood-hit household in Hyderabad, lashed by incessant rains since last week, besides an assistance of Rs 1 lakh each to those whose houses were completely destroyed and Rs 50,000 for the partially damaged.
