Government plans wide-ranging tightening of financial market rules

Government plans wide-ranging tightening of financial market rules

Mumbai, Sep 19: The government plans to tighten rules to curb mis-selling of securities, market manipulation and insider trading, financial market regulator Sebi said after considering recommendations by a panel. It also plans to relax fund rules for non-resident Indians and said it would issue a circular soon with details. The measures were among a […]

Income tax department conducts survey operation at Jet Airways

Mumbai, Sep 19: The Income Tax department team is conducting survey operation at Naresh Goyal-controlled Jet Airways’ four business premises in New Delhi and Mumbai, said two persons in the know. According to I-T sources, the tax department is probing the airline for falsification of book of accounts, siphoning of funds and issue of suspicious […]

Sensex sheds 169 pts, Nifty gives up 11250; midcaps fall

Sensex sheds 169 pts, Nifty gives up 11250; midcaps fall

Mumbai, Sep 19: Equity benchmarks ended a volatile trading day on a negative note as consumer names as well as banks weighed. The Nifty ended below 11,250-mark, while the Sensex shed a little over 160 points. Rupee heading towards its low points also dented sentiment on the market. A selloff among major sectors such as […]

Flipkart’s marketplace gets Rs 3500 crore

Flipkart’s marketplace gets Rs 3500 crore

Bengaluru, Sep 19: Flipkart Internet, the entity which runs the e-tailer’s marketplace, has received Rs 3,460 crore from its Singapore-based parent in what is one of the single largest capital infusions for the Walmart-owned company. The fresh capital sets the stage for Flipkart’s impending festive season sale battle against Amazon. Documents sourced from business data […]

Govt mulling raising import duty on steel to support rupee

New Delhi, Sep 19: The steel ministry has proposed increasing the effective import duty on some steel products to 15 per cent from current rates ranging from 5 per cent to 12.5 per cent, according to two sources and a government document reviewed by Reuters, as the country looks to support the rupee. The proposal, […]

‘India’s MFI loan portfolio up 47% in FY18 to Rs 68789 crore’

‘India’s MFI loan portfolio up 47% in FY18 to Rs 68789 crore’

New Delhi, Sep 19: India’s microfinance industry clocked 47 per cent growth with a gross loan portfolio of Rs 68,789 crore in the financial year ended March 2018 as against Rs 46,842 crore in the year-ago period, according to a report. Releasing the report here Wednesday, Union MSME Minister Giriraj Singh said the interest rate […]

After shareholders reject Rs 30 bn bailout, IL&FS approaches govt: Reports

After shareholders reject Rs 30 bn bailout, IL&FS approaches govt: Reports

New Delhi, Sep 18: Financially strained unlisted holding company IL&FS has sought the Central government’s support to avert a looming default crisis. Reports appearing on Monday said that the Finance Ministry was approached after the IL&FS’ key stakeholder, the state-run Life Insurance Corporation and others rejected a Rs 30 billion loan facility. According to reports, […]

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