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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...
The Rashtriya Ispat Nigam Ltd, known as Vizag steel plant, has forged a deal with Jindal Steel and Power Ltd to get an infusion of working capital up to Rs 900 crore in a bid to propel sales revenue, monthly turnover and slash losses. The timely deal enables the...
Energy storage is becoming the next disruptor in the renewable energy sector and the ESS (energy storage system) market will attract the highest investment among emerging sectors, according to a joint report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics. ESS, which...
Reiterating India’s stand on the global climate stage for ‘common but differentiated responsibilities and respective capabilities’ (CBDR-RC), the office of the chief economic advisor batted to put an onus on the developed world for climate finance and emission reduction. “Developing countries are expected to immediately and completely shift/transition away...
The Ministry of Power has brought in amendments to the carbon credits trading scheme (CCTS) which paves the way for India to have its own standards for carbon trading and also allows non-obligated entities to generate carbon credits. The amendment notification dated December 19 asks the carbon credits administrator,...
NEW DELHI: India’s crude oil suppliers such as the Abu Dhabi National Oil Company (ADNOC) have expressed concern over repatriation of funds in preferred currency and the high transaction costs on conversion of funds along with exchange fluctuation risks. India’s crude oil import bill, which accounts for 25 per...
Chandigarh: Haryana Chief Secretary, Sanjeev Kaushal said that the state government is on the verge of introducing a comprehensive City Gas Distribution Policy. This strategic move aims to expedite the approval process for the installation of Gas (CNG/PNG) Pipelines within a specified timeframe. The policy is a proactive step...
New Delhi: Retail inflation for farm workers rose to 7.37 per cent and that for rural labourers climbed to 7.13 per cent in November, mainly due to higher prices of certain food items. Retail inflation in October was 7.08 per cent and 6.92 per cent for farm workers and...
NEW DELHI: In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country’s resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue...