Mumbai: Reserve Bank governor Urjit Patel today said the soon-to-be implemented goods and services tax (GST) will not only create a national market but will also broaden the tax base which in turn will lower the overall taxes in the long-term. “The…Read More »
New Delhi: Moody’s Investors Service on Monday said the initiation of insolvency proceedings on 12 large loan defaulters is credit positive for Indian banks as it will improve their overall asset quality. The Reserve Bank last week said it has identified 12…Read More »
Mumbai: Reserve Bank of India Governor Urjit Patel cited “high uncertainty” on inflation while holding the key interest rate for a fourth successive policy review, according to minutes of the June 7 meeting of Monetary Policy Committee released on Wednesday. It was…Read More »
New Delhi: Mutual fund managers continued to be bullish on bank shares, with their allocation to the sector reaching an all time-high of over Rs. 1.44 lakh crore at the end of May, mainly due to cheaper valuations. In comparison, the figure…Read More »
New Delhi: Mutual fund houses added close to 19 lakh investor accounts in April-May of 2017-18, taking the total tally to a record 5.72 crore, driven by growing interest from retail and HNI investors alike. This is on top of 77 lakh…Read More »
New Delhi: The initial public offer of the Central Depository Services (India) Ltd (CDSL) saw huge investor demand with the issue being oversubscribed 84.29 times by late afternoon trade on the last day of bidding on Wednesday. The IPO, to raise Rs.…Read More »
Mumbai: Private sector lender Federal Bank Ltd has launched a share sale to raise Rs. 2,000 crore, with an option to increase the amount by Rs. 500 crore, according to a deal term sheet. Federal Bank said in a regulatory filing on…Read More »
The Finance Ministry on Tuesday allowed banks, post offices and district central cooperative banks to deposit the scrapped Rs. 500 and 1,000 rupee notes with the Reserve Bank of India within 30 days and exchange the value of notes deposit with the…Read More »
Mumbai: Markets regulator Sebi on Wednesday relaxed norms for stake purchase in distressed listed companies by lenders, exempting them from making open offers for shareholders. The relaxation would be subject to certain conditions, including shareholders’ approval of the stake acquisition by way…Read More »
State Bank of India (SBI) has announced a sale of properties through a mega e-auction on June 23, 2017. This was said by the country’s largest bank on microblogging site Twitter. The bank will auction off 150 properties, including residential, commercial and…Read More »