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MUMBAI: Biotechnology company Indian Immunologicals (IIL), under the National Dairy Development Board (NDDB), on Thursday announced the start of the construction of its new vaccine manufacturing plant at Genome Valley, Hyderabad. The company is investing around Rs 700 crore in this facility. Equipped with a BSL3 (biosafety level) facility...
Investments for insurance companies are highly regulated and life insurers should be allowed more investment classes to enhance their liquidity, Life Insurance Corporation (LIC) of India Chairman Siddhartha Mohanty said. “For insurance companies, so far as investment is concerned, it is highly regulated. So, new asset classes should also...
NEW DELHI: Bangladesh wants India to remove the anti-dumping duties on certain jute product imports. India extended these duties for a five-year period in January this year but New Delhi is not keen to do so, sources have said.. The neighbouring country is also trying to stop India from...
NEW DELHI: Capital markets regulator Sebi on Thursday tweaked the regulatory framework for Online Bond Platform Providers (OBPPs) to enhance the ease of doing business. This came after Sebi received representations from stock exchanges and market participants, including online bond platforms. “The proposed modifications shall aid in ease of...
NEW DELHI: Bank credit growth is expected to remain healthy at 12-13 per cent in the next fiscal, rating agency ICRA said while maintaining a positive outlook on the banking sector. In a statement, ICRA said the positive outlook on the banking sector is mainly driven by comfortable asset...
MUMBAI: As many as 12 companies raised Rs 8,931.69 crore through initial share sales this month, making it the best IPO month in two years. The previous best was December 2021, when 11 companies mopped up Rs 9,534 crore through Initial Public Offerings (IPOs). As per an analysis, 12...
London-headquartered Vedanta Resources has postponed the deadline to seek consent for extending the deadline of its bonds to January 2, 2024 due to the holiday period. “This extension is given to accommodate feedback from bondholders who were facing operational challenges in submitting their consent instructions and may not be...
NEW DELHI: Strong domestic demand, supported by government spending on infrastructure, building and construction segments, is expected to keep India’s steel imports elevated around the 6 million tonne (MT) mark this financial year even as the global steel industry battles a slowdown, according to rating agency Crisil. Global steel...
NEW DELHI: A meeting of the equity shareholders of Tata Steel Limited is scheduled to be held on January 25 to consider and approve the ‘Scheme of Amalgamation’ amongst Tata Steel Limited and The Indian Steel and Wire Products Limited and their respective shareholders. Tata Steel Limited, the transferee...
NEW DELHI: The adoption of the National Pension System (NPS) by formal sector employees fell to a four-month low in October, according to data released by the National Statistical Office (NSO) on Friday. This fall is primarily on account of the slowdown seen in the adoption by the corporate...
MUMBAI: In a move that seems to be testing waters before the final decision, the Securities and Exchange Board of India (Sebi) on Friday issued a consultation paper on instant settlement of funds and securities as an optional T+0 settlement cycle in two phases. In Phase 1, it will...
MUMBAI: All six members of the Reserve Bank of India’s (RBI’s) monetary policy committee (MPC) expressed caution over food inflation during the December review, while two external members warned about high real interest rates as headline inflation approaches its target of 4 per cent. The central bank continued to...
NEW DELHI: The government has initiated a plan to recognize skill certifications awarded by top corporate, including multinationals, to their employees by standardizing and assigning credits to their skills training and bench marking it to international standards. While Microsoft, IBM, HCL Tech and the Confederation of Indian Industry (CII)...
NEW DELHI: India’s policymakers are open to looking at the industry’s concerns relating to the Reserve Bank of India (RBI) circular on December 19 that imposed restrictions on investments in Alternative Investment Funds (AIFs) by banks and non-banking finance companies (NBFCs). The Indian Venture and Alternate Capital Association (IVCA)...
NEW DELHI: The National Financial Reporting Authority (NFRA) on Friday released the first inspection report of firms that are part of the network of Big Four audit firms, pointing to gaps in several places, including in the way audit papers were secured and compliance with provisions of the Companies...
MUMBAI: Self-Regulatory Organisations (SROs) should have sufficient authority, which is derived from membership agreements, to set ethical, professional and governance standards and enforce them on the members, according to RBI’s draft “Omnibus Framework for recognising SROs” for lenders regulated by it. The SRO should have objective, well-defined and consultative...
The central government has extended the reduced import duty regime for some of the key edible oils by a year as it makes interventions to keep food inflation in check. The reduced duty, which was set to end in March 2024, will continue till March 2025, an official notification...
The Centre plans to overhaul the iron ore pricing mechanism in the country, which could include linking domestically produced ore to prices on global indices and developing a national benchmark, in a bid to plug grade misclassifications and make pricing transparent and efficient. “It’s a step towards trying to...