Business
Six Entities Pay Rs 3.49 Crore To Settle Front-Running Trade Case With SEBI
NEW DELHI: Six entities, including Samir Kothari and Jitendra N Kewalramani, has settled with Sebi in a case pertaining to the suspected front-running of trades by paying ` 3.49 crore towards settlement charges. The other entities that settled the matter with the Securities and Exchange Board of India (Sebi)...
CREDAI Urges Central Govt To Reconsider 18% GST On FSI Charges
LUCKNOW: The Confederation of Real Estate Developers’ Associations of India (CREDAI) has urged the Central Government to reconsider its proposal to impose an 18% Goods and Services Tax (GST) on Floor Space Index (FSI) and additional FSI charges paid to local authorities for real estate projects. CREDAI warned that...
HC Upholds Award Of Tender To Adani Group To Redevelop Dharavi Slums
MUMBAI: In what came as a big relief to the Adani group, the Bombay High Court on Friday dismissed a petition filed by UAE-based Seclink Technologies challenging the Maharashtra government’s decision to cancel its 2019 bid for the redevelopment of Dharavi slums and issue a fresh tender in 2022....
Rupee Slides Past 85 Vs $ To Hit New Low After Hawkish US Fed Outlook
MUMBAI: The rupee breached the psychologically significant 85-per-dollar mark, and government bond yields rose on Thursday following the US Federal Reserve’s meeting, which signalled a more cautious pace of future interest rate cuts, unsettling financial markets, according to dealers. Several Asian currencies performed worse than the rupee. Indian equities...
Unregulated Lenders Could Face Up To 10 Years In Prison
NEW DELHI: The Centre has floated a draft Bill to bar all persons or entities not authorised by the financial sector regulators and not registered under any law from public lending. The new law, which will extend to the digital sector, where unathorised lending apps proliferate, will include provisions...
NITI Aayog Pushes For Funding To Build Quarters For Workers Near Factories
NEW DELHI: NITI Aayog on Thursday released a report suggesting a host of measures, including viability gap funding (VGF) of up to 40 per cent of the total project cost — excluding land — for the Centre’s ambitious scheme to build mega housing projects near manufacturing plants where industrial...
Curb Subsidies To Build Critical Infrastructure, RBI Tells States
NEW DELHI: With reforms fostering overall fiscal sustainability at the subnational level, states need to adopt “next-generation” fiscal rules, time-bound glide paths for fiscal consolidation, and rein in subsidies and freebies, the Reserve Bank of India (RBI) said in a report on Thursday. State governments contained their consolidated gross...
Foreign Investors Seek Greater Fungibility Of FDI And FPI Rules
MUMBAI: International investors are trying to overcome a hurdle to raise stakes in Indian companies that come across as long bets. They are knocking on the doors of the government and financial market regulators, urging them to rethink a rule that forbids an overseas investor from being a foreign...
Nearly Half Of Indian International Travellers Made Last-Minute Flight Bookings In 2024: Report
NEW DELHI: The year 2024 witnessed a rise in spontaneous travel among Indian international travellers, with nearly half of them making last-minute plans, barely less than a week before their departure, reveals a new report. The travel report, conducted by travel-banking fintech platform Niyo, highlights the evolving mindset of...
Indian Oil Corporation To Invest Over Rs 21,000 Crore In Bihar Refinery Expansion
PATNA: Indian Oil Corporation (IOC) – the nation’s top oil firm – will invest over Rs 21,000 crore to expand the Barauni refinery in Bihar as well as in setting up a city gas distribution network across the state, a senior executive said on Thursday. IOC is expanding its...
India’s EV Market To Reach Rs 20 Lakh Crore, To Create Five Crore Jobs By 2030
NEW DELHI: Union minister Nitin Gadkari on Thursday said the Indian electric vehicle market potential is likely to touch Rs 20 lakh crore and will create around 5 crore jobs across the entire EV ecosystem by 2030. Addressing the ‘8th Catalyst Conference on Sustainability of E-Vehicle Industry – Evexpo...
SEBI Introduces Timelines For NFO Fund Deployment, Eases AMC Employee Interest Alignment Rules
NEW DELHI: Markets regulator Sebi has decided to introduce timelines for deploying funds raised through New Fund Offers (NFOs) by asset management companies (AMCs) and relaxed regulatory framework regarding the alignment of AMC employees’ interests with those of unitholders. Additionally, the regulator has mandated disclosure of stress testing for...
Flyzy Partners With Adani Digital Labs To Enhance Dutyfree, Pranaam Service
NEW DELHI: Flyzy on Wednesday announced a partnership with Adani Digital Labs, a subsidiary of the Adani Group. This strategic collaboration will enable Flyzy customers to conveniently purchase duty-free items and avail Adani Pranaam services directly through the Flyzy’s dashboard. The integration is now live, offering Flyzy users the...
Govt Likely To Target FY26 Fiscal Deficit At 4.4% Of GDP To Support Growth
NEW DELHI: Concerned that aggressive fiscal consolidation could hinder growth momentum while private capital expenditure remains sluggish, the government is expected to set the fiscal deficit target at 4.4 per cent of gross domestic product (GDP) for FY26 in the upcoming Budget. “Given rising geopolitical headwinds that may impact...
Investments, Consumption To Drive Growth In FY26 To 6.6%: India Ratings
NEW DELHI: Gradual improvement in consumption demand and investments from both the public and private sector due to monetary easing are expected to push India’s economy to grow a tad faster at 6.6 per cent in the financial year 2025-2026 (FY26) compared with the downward revised projection of 6.4...
SEBI Tightens Regulations For SME Listing, Widens UPSI Definition
MUMBAI: The board of Securities and Exchange Board of India (SEBI) took as many as 19 decisions on Wednesday, including tighter listing regulations for small and medium enterprises (SMEs), easier norms for REITs and InvITs, and a wider definition of unpublished price-sensitive information (UPSI). In a bid to curb...
Trump’s Reciprocal Tariff Plan To Open Talks For Market Access
NEW DELHI: As US president-elect Donald Trump on Wednesday asserted that the world’s largest economy would charge taxes (import tariffs) on India on a strictly reciprocal basis, experts here said the move would force open negotiations for greater market access between the two countries. While Trump talked of reciprocity,...
NPPA Ropes In Patent Office To Decide On Pleas For Price Cap Exemption
NEW DELHI: Drug companies seeking price exemption for their medicines and vaccines will have to face intense scrutiny as India’s drug pricing regulator has sought expertise from the Indian Patent Office to decide on applications seeking exemption from drug price norms. Recently, Intas Pharmaceuticals and Biological E had reached...
