Business

IPO financing rule to hit subscription

MUMBAI: RBI’s proposal to cap IPO financing by NBFCs to as much as Rs 1 crore per particular person could result in a pointy drop in bidding by excessive web value people (HNIs), which can end in a drastic discount in subscriptions of affords. Banks have a Rs 10-lakh restrict on IPO financing and there’s no such cap for NBFCs. ...

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Finances 2021: Nirmala Sitharaman holds customary ‘halwa’ ceremony

NEW DELHI: Kick beginning the countdown in direction of Finances 2021, finance minister Nirmala Sitharaman on Saturday hosted the standard ‘halwa’ ceremony. Yearly, the federal government follows an annual custom of internet hosting a halwa ceremony, a number of days earlier than the Finances is offered. The ceremony marks the start of printing of Finances paperwork. Listed here are some ...

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Telcos need authorities to make clear onus of safety breach submit NSD rollout, guarantee worth competitiveness

NEW DELHI: Telcos have requested the federal government to make clear concerning the entity that might be held liable if there may be safety breach within the community submit implementation of Nationwide Safety Directive (NSD) on the telecom sector, in accordance with trade sources conscious of the event. The telecom operators have given their enter to the federal government in ...

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Joe Biden, citing ‘financial crucial’, orders quicker reduction checks, extra meals help

WASHINGTON: US President Joe Biden on Friday ordered the quicker issuance of pandemic stimulus checks to needy households and elevated meals help for youngsters who usually depend on college meals, an effort to ease People’ burdens whereas Congress negotiates over his proposed $1.9 trillion financial stimulus bundle. Within the opening days of his administration, Biden is emphasizing that the federal ...

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Coal India says geared as much as meet any surge in gasoline demand from energy sector

NEW DELHI: State-owned Coal India Ltd on Saturday mentioned that it’s properly geared to fulfill any surge in demand for coal from the facility sector. The assertion follows energy demand touching an all-time excessive of 187.Three GW on Friday. “CIL (Coal India) is properly geared to fulfill any surge in demand for the dry gasoline from the facility sector particularly ...

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Funds 2021: Finance minister launches Union Funds cellular app

NEW DELHI: Finance minister Nirmala Sitharaman on Saturday launched the ‘Union Funds cellular app‘ for hassle-free entry of Funds paperwork by members of Parliament (MPs) and common public. Launched on the event of the customary ‘halwa’ ceremony, the app facilitates full entry to 14 Union Funds paperwork, together with the annual monetary assertion, demand for grants (DG), finance invoice and ...

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RBI proposes bank-like norms for giant NBFCs

MUMBAI: Giant non-banking finance corporations (NBFCs) are prone to be extra intensely regulated and their lending to delicate sectors like capital markets and actual property capped if the RBI had been to implement proposals that it has put ahead in a dialogue paper. The proposal comes at a time when an RBI panel had really helpful that giant NBFCs needs ...

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Petrol, diesel costs contact all-time highs

NEW DELHI: Petrol and diesel costs within the nation on Saturday touched new all-time highs after charges had been elevated for the fourth time this week. Petrol and diesel costs had been hiked by 25 paise per litre every, based on a value notification from oil advertising corporations. This took the petrol value in Delhi to Rs 85.70 per litre ...

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Vijay Mallya has utilized for asylum, his lawyer informs decide

LONDON: Fugitive financial offender Vijay Mallya’s barrister confirmed for the primary time in a British court docket that the 65-year-old has utilized for asylum, which is why he has not been despatched again to India regardless of the UK courts having upheld India’s extradition request to ship him again in Could 2020 to face expenses of fraud by false illustration, ...

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Digital, retail biz enhance RIL Q3 internet by 26% to Rs 15ok crore

MUMBAI: Reliance Industries (RIL), India’s largest firm by way of market worth, reported a 26% rise in its third quarter revenue to Rs 14,894 crore, benefiting from increased value realisations in its digital providers and retail companies. Income declined 21% to Rs 1.2 lakh crore, it stated on Friday. Working revenue was flat at Rs 26,094 crore within the October ...

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