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RBI releases draft scheme for amalgamation of PMC Bank, Unity Small Finance Bank
The Reserve Bank (RBI) on Monday released a draft scheme for the amalgamation of Punjab and Maharashtra Cooperative (PMC) Bank and Delhi-based Unity Small Finance Bank (USFB).
Unity Small Finance Bank is a joint venture between Centrum…
Reliance drops after slamming brakes on $15-billion Aramco deal
Shares of Reliance Industries fell 4.2% on Monday as India’s largest firm halted a stake sale in its oil-to-chemicals business to Saudi Arabia’s Aramco and pulled back from a potential spinoff of its most profitable unit.
The move to…
India’s GDP likely to grow 8.1% in Q2 FY22: SBI report
The country’s GDP growth is likely to be around 8.1 per cent in the second quarter of the current financial year and in the range of 9.3-9.6 per cent during fiscal 2022, according to an SBI research report.
In the first quarter of FY 22,…
PMC Bank, Unity SFB merger scheme: RBI seeks views on draft
The Reserve Bank of India (RBI) on Monday released a draft scheme of amalgamation of fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank and Delhi-based Unity Small Finance Bank. Unity SFB is a joint venture between Centrum Group and…
Survey on domestic workers flagged off; results likely in 1 year
The Labour and Employment Ministry on Monday launched the fieldwork for the All India Survey on Domestic Workers (DWs), covering 742 districts in 37 states and Union Territories.
“This survey will cover all types of domestic services…
FPIs adopt contrarian game plan: Invest in IPOs, sell in stock market
Foreign portfolio investors (FPIs) are taking a contrarian approach in the domestic capital markets by selling in stock market and investing in the IPO (initial public offering) market. While FPIs have invested over Rs 23,000 crore in the…
Importer-exporter codes not updated after Jan 2014 to be deactivated
The Commerce Ministry’s foreign trade arm DGFT will deactivate all importer-exporter codes (IECs) that have not been updated after January 1, 2014, with effect from December 6, 2021, a move which would help in knowing the actual number of…
Industry body urges to fix income tax, corporate tax and peak GST all at 15%
New Delhi, Nov 21 (Nirbhay Kumar-UNI) As Centre gears up to start consultation with industry for Union Budget, industry body PHDCCI has proposed to keep personal income tax, corporate tax and peak GST rate all at 15% in order to boost…
Regulatory changes in China could drive VC funds to India: KPMG report
New Delhi, Nov 21 (UNI) Shifting regulations targeting specific sectors like edtech and fintech in China could drive venture capital investments in other parts of Asia and India would have a lot to gain going forward in the October to…
National mining conclave: Focus on exploration, auction regime
Different stakeholders of the mining industry will participate in a national conclave next week and hold strategic discussions on major issues and opportunities in the sector to bring in higher growth and facilitate ease of doing business,…
Govt puts on sale MTNL, BSNL assets worth about Rs 970 crore
The government has listed for sale real estate assets of state-run telecom firms MTNL and BSNL at a reserve price of around Rs 970 crore, according to documents uploaded on the DIPAM website.
BSNL properties located in Hyderabad,…
EPFO board meet: Investment in AIFs on case-to-case basis; centralised database
The Central Board of Trustees (CBT) of retirement fund body EPFO on Saturday approved investment of up to 5 per cent of its annual deposits in new asset classes of alternative investment funds (AIFs), including infrastructure investment…
BuzzFeed plans to start publicly trading in Early december
If you want to own a piece of BuzzFeed, just wait till the first week of December.
The publisher’s plan to merge with 890 5th Avenue Partners, a blank-check company, will be put to a shareholder vote Dec. 2, according to a recent…
Forex reserves fall for second week in a row, down $763 mn
The foreign exchange — forex — reserves fell by $763 million to $640.112 billion in the week ended November 12, according to data released by the RBI.
In the preceding week ended November 5, the reserves decreased by $1.145 billion to…
Flipkart to buy majority stake in SastaSundar
Flipkart said on Friday it will acquire a majority stake in Kolkata-based Sastasundar Marketplace, which owns and operates online pharmacy and digital healthcare platform SastaSundar.com.
While the Walmart-owned e-commerce major did not…
Covid fuels 29% jump in health premium income for insurers
Covid pandemic has proved to be a boon for insurance companies. With people increasingly taking health cover to meet medical expenses, general insurance companies have reported a 29.81 per cent rise in premium income from the health segment…
With focus on new energy biz, RIL, Aramco to ‘re-evaluate’ O2C deal
Reliance Industries Ltd (RIL) and Saudi Aramco have decided to drop the latter’s mega plan to acquire 20 per cent stake in RIL’s oil-to-chemical business “in light of the changed context”.
“The current application with NCLT for…
Go Fashion IPO: Everything you need to know
Go Fashion IPO: The initial public offering (IPO) of Go Fashion (India), which owns women’s wear brand Go Colors, opened for subscription on Wednesday, November 17, 2021. The offer got fully subscribed within hours of opening on the first…
5 smart tips to avail of an online personal loan
An online personal loan can come in very handy especially when you have many events to plan. With ample cash in hand, you can book a vacation, host a party, renovate your house, buy assets or home appliances, and more.
To meet your…
Digital lending: RBI panel pitches for tougher norms, separate law
A working group set up by the Reserve Bank of India (RBI) has proposed stringent norms for digital lenders, including a separate legislation to prevent illegal digital lending activities.
According to the committee, digital lending apps…
