The government may hike foreign direct investment (FDI) limit in the pension sector to 74 per cent and a Bill in this regard is expected to come in the next Parliament session, according to sources. Last month, Parliament approved a Bill to increase FDI limit in the insurance sector...
Citi Bank’s decision to quit the Indian market has thrown up an opportunity for domestic private banks that are looking to scale up their credit card business. Amid this, the subsidiary of State Bank of India- SBI cards witnessed its share price jump 7.5% by the close of trade...
Once seemingly untouchable, Alibaba founder Jack Ma has endured a tumultuous run that saw his Chinese e-commerce giant hit with a record 18 billion yuan ($2.75 billion) antitrust fine on Saturday, resolving one key uncertainty even as others persist for himself and his business empire. The reversal of fortune...
Several banks, including State Bank of India (SBI), have been imposing excessive charges on certain services provided to poor persons having zero-balance or Basic Savings Bank Deposit Accounts (BSBDA), a study by the IIT-Bombay has revealed. The study observed that the SBI’s decision to levy a charge of Rs...
The FATF, the global body against money laundering and terror financing, is likely to carry out an evaluation of India’s established mechanism to deal with such financial crimes later this year. The mutual evaluation of country specific anti-money laundering and terror-financing mechanism by the Financial Action Task Force (FATF)...
IT services major Infosys on Sunday said its board will consider a buyback proposal at its meeting on Wednesday. “The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on April 14, 2021, in...
The Reserve Bank of India (RBI) on Monday announced that the money transfer facility, Real Time Gross Settlement System (RTGS), will be unavailable for 14 hours from 00:00 to 14:00 hours on Sunday, April 18, in lieu of a technical upgrade to enhance the resilience of the system. The...
Representative image (Reuters) The rate of price rise in the food basket accelerated to 4.94 per cent in March, as against 3.87 per cent in the preceding month, as per data released by the National Statistical Office. PTI New Delhi Last Updated:April 12, 2021, 18:29 IST FOLLOW US ON:...
India’s industrial production contracted by 3.6 per cent in February, official data showed on Monday. According to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), manufacturing sector output declined by 3.7 per cent in February 2021. Mining output slipped 5.5 per cent, while...
Food Secretary Shudhanshu Pandey said on Thursday that wheat procurement has gained pace in the ongoing Rabi Marting Season (RMS) 2021-22 with the government agencies procuring 64.7 LMT of wheat worth Rs 12,800 crore at MSP (Minimum Support Price) of Rs 1,975 per quintal, against an estimated target of...
The Reserve Bank of India (RBI) on Monday announced that the money transfer facility, Real Time Gross Settlement System (RTGS), will be unavailable for 14 hours from 00:00 to 14:00 hours on Sunday, April 18, in lieu of a technical upgrade to enhance the resilience of the system. The...
The indices on Friday, April 16, are expected to open flat as the SGX Nifty was trading at 15.00 points or 0.10 percent down at 14,604.50 at 7:20 am. With inputs from News18
Equity benchmarks Sensex and Nifty ended marginally higher after a volatile session on Friday amid positive cues from global markets. The 30-share BSE Sensex ended 28.35 points or 0.06 per cent higher at 48,832.03. Similarly, the broader NSE Nifty rose 36.40 points or 0.25 per cent to 14,617.85. Asian...
Equity benchmark Sensex advanced over 150 points in early trade on Friday, tracking gains in index majors HDFC twins, Asian Paints and HCL Tech amid largely positive cues from global markets. The 30-share BSE index was trading 160.43 points or 0.33 per cent higher at 48,964.11. Similarly, the broader...
Gold and silver prices witnessed a marginal hike in the country on Friday, April 16. For one gram of 22-carat gold, the rate increased by Re 1 as the cost stood at Rs 4,486 compared to Rs 4,485 on the previous day. The price of 10 grams of 22-carat-gold...
A batch of Chinese and U.S. economic data helped underpin global stocks near record highs on Friday, as investors priced in a solid global recovery from the coronavirus-induced slump. In Asia, markets were largely steady after China reported a sharp acceleration in first quarter growth, though the reading slightly...
Turkey’s central bank banned the use of cryptocurrencies and crypto assets to purchase goods and services, citing “irrepairable” possible damages and significant risks in such transactions. In legislation published in the Official Gazette overnight, the Central Bank of Turkey (CBRT) said cryptocurrencies and other such digital assets based on...
Chinese regulators have ordered Ant Group, a financial affiliate of e-commerce giant Alibaba Group Holding, to become a financial holding company to ease financial oversight amid stepped up scrutiny of technology firms. In a meeting Monday, the central bank and other financial regulators also ordered Ant to cease anti-competitive...