Mumbai: With the system level liquidity remaining tight, the Reserve Bank on Thursday said it will conduct a seven-day variable rate repo (VRR) auction for Rs 1 lakh crore under LAF (liquidity adjustment facility) on January 5. On reviewing current and evolving liquidity conditions, it has been decided to conduct a variable rate repo auction…
New Delhi: Sebi on Thursday said Govindayapalli Ram Mohan Rao has taken charge as an executive director and will handle the departments of investigation and internal inspection. Earlier, Rao was the regional director of the eastern regional office of Sebi (Securities and Exchange Board of India). In that role, he had supervised diverse portfolios, including…
New Delhi: Billionaire Gautam Adani reacting to the Supreme Court judgment on allegations levelled by a US short-seller against his conglomerate, said on Wednesday that truth has prevailed and his group would continue to contribute to India’s growth story. The Supreme Court on Wednesday ruled that there was no ground to order an investigation by…
Mumbai: Maharashtra Chief Minister Eknath Shinde on Tuesday directed the state officials to prepare a “flawless” survey report of the Maratha community in the state. Shinde issued the directives to the divisional commissioners, district collectors and municipal commissioners in the state in a video-conference meeting held during the day. Referring to the Supreme Court’s decision…
Mumbai: The Reserve Bank on Tuesday proposed allowing banks having net non-performing assets (NPAs) ratio of less than 6 percent to declare dividends. As per the prevailing norms last updated in 2005, banks need to have an NNPA ratio of up to 7 percent to become eligible for declaration of dividends. “The net NPA ratio,…
Jamshedpur: The steel sector in the country is still in recovery mode after the Covid pandemic, Tata Steel CEO and MD T V Narendran said on Monday. He said demand for steel will continue to grow, backed by the government’s focus on infrastructure development. “This (2023) has been good year for the steel sector in…
New Delhi: Arvind Panagariya, the former Chairman of NITI Aayog, has been appointed as the head of the 16th Finance Commission. The current Joint Secretary of Finance Ritvi Ranjanam Pandey will retain his position as an officer on special duty for the “advance cell”, The former NITI Aayog Chairman left the think tank in August 2017…
New Delhi: The government’s fiscal deficit at the end of November stood at Rs 9.06 lakh crore or 50.7 per cent of the full-year budget estimate, according to data released by the Controller General of Accounts (CGA) on Friday. In absolute terms, the fiscal deficit — the difference between expenditure and revenue — was at…
New Delhi:: Personal income and corporate tax collections are likely to rise to more than Rs 19 lakh crore in 10 years of Prime Minister Narendra Modi-led government, providing more leeway to come out with people-friendly tax measures. Driven by the increasing income of individuals, net direct tax collections after adjusting for refunds increased from…
New Delhi: Having created businesses ranging from the world’s largest single-location oil refining complex to the nation’s largest mobile network operators in just a few years, billionaire Mukesh Ambani says his group Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates of the world. Addressing employees…
