NEW DELHI: India and the UK will likely sign an agreement in early February to spurt flow of London-based patient capital funds the burgeoning infrastructure sector of the world’s fifth largest economy. India is aiming for $5-10 billion inflows in the initial phase to establish a proof of concept...
NEW DELHI: The government has halved the amount of equity infusion in state-owned fuel retailers to Rs 15,000 crore for supporting their investments in energy transition projects, the finance ministry has said. Finance Minister Nirmala Sitharaman had on February 1 last year while presenting the annual Budget for 2023-24...
MUMBAI: Private banks have continued to grow their personal loan books in the September-December quarter even after the Reserve Bank of India (RBI) raised risk weights for unsecured loans. According to the banks’ latest quarterly numbers, their personal loan books have risen between 10% and 86% year-on-year (yoy). Leading...
NEW DELHI: India Inc wants government to keep up the momentum on public spending to boost demand and step up disinvestment and asset monetisation to keep public finances in order. “India is at an important inflexion point and given the current global developments and associated headwinds, the government should...
NEW DELHI: Oil regulator PNGRB has launched a two-month long nationwide drive to increase adoption of piped natural gas as a cooking fuel in household kitchens in an attempt to cut dependence on imported fossil-fuels. “The Petroleum and Natural Gas Regulatory Board (PNGRB) along with city gas distribution entities...
NEW DELHI: Delhi-NCR witnessed a sharp 42 per decline in demand for warehouse and industrial spaces last year on high base effect and lower new supply, according to Colliers. The gross leasing of Grade-A industrial & warehousing spaces fell to 5.1 million square feet in 2023 from 8.8 million...
NEW DELHI: Walmart group firm Flipkart continues to dominate the e-commerce segment with 48 per cent market share while Softbank-backed Meesho has emerged as the fastest growing e-commerce platform in terms of user base in India, a latest report by AllianceBernstein said. According to the report, Flipkart’s user base...
The crude oil market share of the Organization of Petroleum Exporting Countries (OPEC) has been declining since the cartel came out with its Declaration of Cooperation (DoC). The share is under increasing threat from non-OPEC+ countries, analysts say. According to research agency BMI, a unit of Fitch Solutions, propping...
The Insurance Regulatory and Development Authority of India (IRDAI) has released a consolidated regulation on Expenses of Management (EoM), including commissions, based on the Regulation Review Committee’s (RRC’s) suggestions. In November 2023, IRDAI had released an exposure draft on the EoM, including commission for both life and non-life insurance...
MUMBAI: In a relief to foreign portfolio investors (FPIs) with disproportionately high exposure to a single corporate group, the Securities and Exchange Board of India (Sebi) has decided to give them more time to comply with the new disclosure norms on beneficial owners or liquidate holdings, sources close to...
NEW DELHI: Industry bodies have sought continued thrust on capital expenditure (capex) in their proposals to the Finance Ministry for the upcoming interim budget to be presented by Finance Minister Nirmala Sitharaman on February 1. The Confederation of Indian Industry (CII) has asked for an increase in capex by...
NEW DELHI: With the growing activities of international pirates off the Gulf of Aden driving up the costs of freight and shipping, the government has moved to build more armed vessels to keep open the international shipping lanes that carry much of the world’s trade through this war-torn region....
MUMBAI: Deficit liquidity in the banking system surged to an all-time high this week, topping the ₹3 lakh crore mark, as tax outflows, currency leakages and a slow pace of government spending led to a cash crunch with lenders, pushing up borrowing costs across the economy. As of January...
NEW DELHI: The National Financial Reporting Authority (NFRA) is going to inspect the Big Four audit firms as well as other top auditors of large listed entities in 2024, an official familiar with the development told FE. “We shall inspect the Big four audit firms again this year in...
NEW DELHI: The Centre on Wednesday announced re-bidding for the 10 Gigawatt hour (Gwh) tranche of the total 20 GWh capacity under the production-linked incentive (PLI) scheme for the advanced chemistry cell (ACC) battery storage. A budgetary outlay of Rs 3,620 crore has been earmarked as the incentive against...
NEW DELHI: The Union Cabinet on Wednesday approved Rs 8,500 crore financial incentive scheme for coal gasification projects. In the first category, Rs 4,050 crore has been provisioned for public sector utilities (PSUs) in which up to three projects will be supported by providing a lump sum grant of...
NEW DELHI: Indian Oil Corporation (IOC) on Wednesday reported a massive jump in its third quarter net profit as compared to the year-ago period when it was financially struggling as input raw material crude oil prices spiked but retail finished product prices remained on freeze. Standalone net profit of...
NEW DELHI: India will not agree to an “asymmetrical” agreement on reducing fisheries subsidies that contribute to overfishing and will insist on specific carveouts to protect its resource poor fishers and preserve the space to develop its capacities at the WTO, officials have said. “In India, the livelihood of...