Business
SEBI Issues Regulatory Framework For SIFs
NEW DELHI: Markets watchdog Sebi on Thursday came out with a regulatory framework for Specialized Investment Funds (SIFs) requiring a minimum investment of `10 Lakh across all strategies. The new framework will be applicable from April 1, the Securities and Exchange Board of India (SEBI) said in its circular....
Summit Season Sees Nearly Rs 100 Lakh Crore Investment Pledges By India Inc
NEW DELHI: On Tuesday, Madhya Pradesh concluded a two-day global investors’ summit and proudly announced investment pledges worth Rs 26.61 lakh crore by global and domestic companies. That is precisely double the size of the state’s gross domestic product (GDP). Late January, Odisha, one of the mineral-rich states in...
India Needs 1.2-1.5 Tax Buoyancy To Achieve 6.5-7% Growth: EY Report
NEW DELHI: In the coming years, India’s fiscal strategy must focus on enhancing tax buoyancy, prudent expenditure management, and structural reforms to ensure sustainable growth, said EY in a report. According to DK Srivastava, chief policy advisor, EY India, for India to achieve a medium-term growth trajectory of 6.5-7.0%...
FY25 CPSE Dividends To Beat Target By Rs 10,000-Crore
NEW DELHI: The Centre’s dividend receipts from the companies it owns have exceeded the revised estimate of Rs 55,000 crore for FY25 by Rs 5,000 crore and may well reach Rs 65,000 crore by the end of the financial year, according to official sources. Dividend receipts from central public...
Banks Cautious On MFI Lending Despite Risk Weight Cuts
MUMBAI: Banks are expected to tread cautiously in lending to the microfinance sector despite the Reserve Bank of India reducing risk weights for such loans. They will wait for delinquencies to decline in the microfinance industry before increasing their exposure. Banks will also monitor the effects of a new...
Australia To Invest $16 Million To Boost Trade Ties With India
NEW DELHI: Australia on Wednesday unveiled an ambitious roadmap to expand and diversify its trade and investment ties with India with a focus among other issues on defence industries, sports, culture, space and technology. The roadmap identified four “superhighways of growth” – clean energy, education and skills, agribusiness, and...
Early IIP Release May Undermine Data Quality Further: Experts
NEW DELHI: In order to cut the time lag in publishing the index of industrial production (IIP) data, the ministry of statistics and programme implementation (MoSPI) has now advanced the release date of the monthly-IIP print. Experts say the quickness in data release was much-needed, but warn that this...
India Has Lower Exposure To US Tariffs Than Peers In APAC Region: Moody’s
NEW DELHI: Moody’s Ratings on Tuesday said India has a lower overall exposure to the US relative to others in the APAC region, although certain sectors such as food, textiles and pharmaceutical products face risks. Moody’s said most companies in its rated portfolio are domestic-focused with limited exposure to...
Reserve Bank Of India Frees Up Bank Capital With NBFC Risk Weight Rollback
MUMBAI: With bank loan growth slowing over the past year, the Reserve Bank of India (RBI) has decided to reverse its decision to increase the risk weight of bank loans to non-banking financial companies (NBFCs), which will result in a substantial release of capital for banks. In addition, it...
SEBI Proposes Steps To Raise Risk Monitoring In Equity Derivatives
NEW DELHI: India’s markets regulator has proposed lowering position limits for equity stock derivatives and tightening rules for index derivatives, in a bid to further reduce the build-up of risk in these markets. The new proposals follow changes announced in October, where the Securities and Exchange Board of India...
India, EU To Firm Up Cooperation In Ai, Evs, Semiconductors & Telecom
NEW DELHI: India and the European Union at their high-level meeting here this week are expected to agree to collaborate in areas such as artificial intelligence, electric vehicles, semiconductors and telecoms, with a focus on “secure and trusted” connectivity to provide an alternative to Chinese-led connectivity networks. The two...
Rupee Plummets 47 Paise To End At 87.19 Against US Dollar
MUMBAI: The rupee fell sharply by 47 paise to settle at 87.19 against the US Dollar on Tuesday due to month-end Dollar demand by importers amid uncertainty over US trade tariffs. Elevated greenback against major crosses and sustained FII outflows also contributed to the decline in the domestic unit,...
Reliance To Invest Rs 50,000 Crore In Assam Over 5 Years: Ambani
GUWAHATI: Reliance Industries will invest Rs 50,000 crore across five different verticals, including nuclear energy and hospitality sector, in Assam over the next five years, its chairman Mukesh Ambani said on Tuesday. Speaking at the ‘Advantage Assam’ business summit, Ambani said the money will be invested to make Assam...
India Imported 49 Billion Euro Worth Of Russian Oil In 2024
NEW DELHI: India, the world’s third largest oil consuming and importing nation, bought crude oil worth 49 Billion Euros from Russia in the third year of Moscow’s invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a...
Centre Urge Companies To Set Up Skill Centres In-House
KOLKATA: The Centre has urged the corporate sector to set up skill centres in-house so that the employability of graduating youth is improved and the overall hiring scenario is boosted, an official said on Tuesday. Ministry of Corporate Affairs Secretary Deepti Gaur Mukherjee said that there is a need...
Blue Star Plans For Gradual Expansion At Manufacturing Facilities For ACs
CHENNAI: Air conditioners and commercial refrigeration system maker Blue Star Ltd has planned to take up gradual expansion of its manufacturing facilities to 1.8 million units as it aims to garner a market share of 14.3 per cent in the room air conditioner segment by FY26, a top official...
Centre Kickstarts Process For Stake Sale In PSBs And Listed PFIs
NEW DELHI: As part of the long-promised financial sector reforms, the government on Monday kickstarted the process of diluting its equity in select public-sector banks (PSBs) and listed public financial institutions (PFIs) by inviting bids from merchant bankers and legal advisors. Finance Minister Nirmala Sitharaman in her 2021-22 Budget...
Indian IT Sector May See Low Single-Digit Growth In Fy25: Nasscom
MUMBAI: The Indian IT industry is expected to grow by 5.1 per cent to $282.6 billion in FY25, up from the 4 per cent growth in FY24. Nasscom, the industry body, said the sector was likely to surpass the $300 billion revenue milestone in FY26. Though the growth rate...
