MUMBAI: Sebi has directed Trafiksol ITS Technologies to refund the Rs 44.9 crore paid by investors who were allotted shares in the company’s IPO. BSE, in coordination with bankers, will oversee the refund process, which should be completed within one week from the date of the order, along with the interest earned on the issue’s…
NEW DELHI: Finance minister Nirmala Sitharaman Tuesday said public sector banks are now safe, stable, healthy, and showing “exceptional performance”, as Lok Sabha passed crucial amendments to banking laws, which among other things provides for up to four nominees in all bank accounts.The move is meant to ensure that successors of an account-holder or someone…
BENGALURU: Rohit Jetly, who until recently served as the country head for India at global investment and retirement savings business Fidelity International, was given additional responsibilities. His expanded role now includes overseeing technology and operations for the company’s global platform solutions (GPS) division. Its HR head, Upasna Nischal, succeeds Jetly as the new India site…
The slump in growth has also sharpened the debate over whether the central bank is doing enough to support the world’s fastest-growing major economy. One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term…
NEW DELHI: The credit growth across all sectors is declining as the momentum has turned negative, according to a State Bank of India report.The report underlined a sharp slowdown in incremental credit and deposits compared to the previous year, indicating a challenging environment for banking sector growth.It said, “It’s clear that credit growth is declining…
The Group of Ministers (GoM) on GST rate rationalisation has decided to increase tax on aerated beverages, cigarettes, tobacco and related products to 35 per cent from the current 28 per cent, an official said on Monday.“The GoM has agreed to propose a special rate of 35 per cent on tobacco and related products and…
MUMBAI: India needs a greater focus on farmers with small land holdings and formulate a strategy to increase their income in order to realise the goal of a Viksit Bharat, or a developed nation by 2047, said P K Mishra, principal secretary to the PM, while delivering the 19th C D Deshmukh Memorial Lecture here.During…
MUMBAI: Markets regulator Sebi on Monday ordered attachment of all bank and demat accounts, as well as mutual fund folios of Reliance Big Entertainment for its failure to pay Rs 26 crore penalty imposed by the regulator in Aug. Reliance Big Entertainment is an unlisted arm of Anil Ambani-controlled Reliance ADA group.In Aug, Sebi had…
MUMBAI: UPI transactions in Nov 2024 showed a slight dip from the previous month. While total transaction volume fell by 6.6% to 1,548 crore, overall value declined by 8.3% to Rs 21.6 lakh crore. In Oct, transactions had risen to 1,658 crore in volume and Rs 23.5 lakh crore in value, driven by e-commerce sales.Bankers…
MUMBAI: Dutch technology investor Prosus, which has invested over $8 billion in the country, will raise its bets on India, where more people are coming online, expanding opportunities for companies and investment firms alike and giving new startups room to find their feet. India is very “heterogeneous” – people from different parts of the country…
