Mumbai, Oct 19: The market extended losses on Friday with the Sensex shedding more than 600 points intraday, dragged by index heavyweights Reliance Industries, HDFC and Infosys. Reliance mixed Q2 earnings, likely change in H1-B visa norms by Trump Administration, liquidity concerns in NBFCs and weak global cues dented investors sentiment. The 30-share BSE Sensex […]
New Delhi, Oct 19: Traders’ body CAIT Friday warned that allowing central as well as state tax administrations to initiate action against any taxpayer irrespective of jurisdiction would lead to harassment of traders and complicate the tax system. Seeking Finance Minister Arun Jaitley’s intervention in the matter, the CAIT in a letter claimed that the […]
New Delhi, Oct 19: Coal India has decided to increase the tenure of fuel supply pacts to be signed with the steel industry to 10 years with a view to reducing the sector’s reliance on imports for the fuel, according to a notice. The new FSA tenure would be applicable from the fourth tranche of […]
New Delhi, Oct 19: To help stem liquidity crisis, the Reserve Bank of India on Friday increased lenders’ single borrower exposure limit for non-banking financial companies (NBFCs) which do not finance infrastructure, to 15 per cent of capital funds. The limit has been raised from 10 per cent and is effective up till December 31, […]
New Delhi, Oct 19: The Finance Ministry is banking on merger and acquisitions among CPSEs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal. The government has raised more than Rs 9,600 crore through IPOs of three CPSEs and a tranche of Bharat-22 ETF in the first […]
Mumbai, Oct 19: Two global personnel advisory firms, Korn Ferry and Egon Zehnder, will assist the Banks Board Bureau (BBB) to assess people for top jobs and in leadership development at public sector banks (PSBs). A BBB functionary said Hay Consultants (part of Korn Ferry) and Egon Zehnder have already begun work in this regard. […]
New Delhi, Oct 19: Power trading solutions provider PTC India will sign medium-term power purchase agreements (PPA) for 1,900 MW coal-based power capacities with seven companies and five states by month-end under a pilot scheme, an official said. After this tender, the company plans another round of 3,000 MW of medium term PPAs to give […]
New Delhi, Oct 19: The Unique Identification Authority of India (UIDAI) has clarified that banks can continue with Aadhaar-enabled payment system for transactions — including deposit, withdrawal, balance enquiry etc. — as the facility is part of the direct benefit transfer scheme. The Aadhaar-enabled payment system, or AEPS, allows consumers who don’t have smartphones or […]
New Delhi, Oct 18: Gautam Adani-led Adani Group will enter the petroleum retail business with French energy major Total SA. The two have signed an agreement to invest in downstream. This will include a foray into retail, with the duo opening 1,500 outlets to supply compressed natural gas (CNG) and develop various liquefied natural gas […]
Mumbai, Oct 18: Reliance Industries (RIL), the country’s largest company by market capitalisation, said it was acquiring majority stakes in Hathway Cable & Datacom and DEN Networks for Rs 52.30 billion. The announcement brings to an end speculation about the contours of the deal, which had intensified over the last few days. RIL will pick […]