REPORTING ENTITIES
India's non-banking financial sector grew by 10%; declined globally by 3 %
India's non-banking financial sector grew by 10% as per an SBI report, while the global sector saw a 3% decline. NBFI entities focus on lending and financing without public deposits. The report noted India as the third-largest in the sector, highlighting the banking system's resilience, improved asset quality, macroeconomic fundamentals, and government initiatives for a level playing field. RBI's proactive measures ensured stability, growth, innovation, and advancements in digital banking.
US lawmakers call to add China's CATL, Gotion to import ban list, WSJ reports
Republican lawmakers are urging the addition of Chinese battery companies CATL and Gotion High Tech to an import ban list, alleging their supply chains use forced labor. CATL and Gotion are linked to Ford and Volkswagen respectively. The lawmakers want them added to the entity list under the Uyghur Forced Labor Prevention Act, which restricts imports tied to alleged genocide in China's Xinjiang region. CATL and Gotion deny the allegations. Volkswagen says it has no evidence of human rights violations.
Five Eyes issue report over China recruiting US fighter pilots to boost air defence abilities
The Five Eyes alliance released a report stating China is actively recruiting Western fighter pilots to enhance its air defense and counter Western tactics, Voice of America reported. These pilots, hired through private firms in South Africa and China, help train Chinese pilots and provide insights into Western military practices. The Five Eyes warn this poses a persistent threat. Efforts to recruit target pilots from member countries, France, Germany, and other Western nations. China has not commented on these allegations.
RBI sets up panel to track online payment frauds; AP Hota to head committee
Along with Hota, representatives of NPCI, State Bank of India, HDFC Bank and ICICI Bank have been made members of the committee. The platform will establish operational guidelines for the proposed processes, determining the extent of data to be provided by reporting entities such as banks and fintechs. The committee will be responsible for defining these guidelines.
Radhakishan Damani-linked entity buys 43 lakh shares of smallcap, stock zooms 16%
Bhagiradha Chemicals shares were bought at Rs 188.49 per share via a bulk deal on Tuesday. Bhagiradha Chemicals’ 79.73% shareholding rests in the hands of the public, whereas 20.27% is held by the promoter group as per the latest shareholding data available with the exchanges.
Adani stocks get rid of Hindenburg stain after 16 months as m-cap nears Rs 2 trillion
Compared to pre-Hindenburg levels, the stock of Adani Power has soared nearly 220%, while Adani Ports has more than doubled in value. ACC, Adani Enterprises, Adani Green Energy, and Ambuja Cements are also trading above pre-Hindenburg levels.
- Go To Page 1
RBI's reserves effective guard against Vostro holding swings
Investments of some Russian funds in select securities that were permitted in a specific way are said to have reduced over a period of time indicating that funds are moving out of such securities, mostly short-term Treasury Bills, said market traders.
Govt planning new way to save you from bank and other financial scams
Amidst the surge in phone call scams, the Department of Telecom (DoT) has unveiled a new solution to differentiate between authentic calls and those orchestrated by fraudsters. As per reports from ToI, the DoT has designated a distinct 10-digit numbering series commencing with 160 for service and transactional calls originating from governmental bodies, regulatory agencies, and financial institutions.
Indian weapons falling into wrong hands? Defence Ministry tightens monitoring
The defence ministry is enhancing monitoring of defence equipment production and requiring companies to adhere to end-user certification rules for exports. The sector has seen a surge in arms and weapons production, particularly in response to the Ukraine-Russia crisis.
Adani Group wants a slice of India's payments and e-commerce pie: Report
India's Adani Group is seeking a licence to operate on the public digital payments network and is in talks with banks for a co-branded credit card. The conglomerate also plans to offer online shopping via the govt-backed Open Network for Digital Commerce (ONDC), according to the Financial Times.
Govt blacklists 8 principal entities in fresh strike down on SMS scammers
The Department of Telecommunications (DoT), in collaboration with the Ministry of Home Affairs (MHA), has taken this decisive action to protect citizens from potential SMS fraud through the Sanchar Saathi initiative, the government said in a statement Monday.
NFRA to engage with some big listed companies on audit compliance
The regulatory outreach could involve the NFRA's engagement with audit panels, independent directors, chief financial officers and others on the boards of these companies, said one of the persons. The regulator is close to finalising a framework to hold such huddles and may invite listed companies, where large public interest is involved, for such meetings, according to another person.
A market rumour will now no longer remain just a rumour under latest SEBI order
In my article on October 03, 2023, titled “Formation of Industry Standards Forum by SEBI - a pragmatic era in regulation implementation”, I had mentioned that SEBI has introduced a very pragmatic method of drafting standards for implementation of a regulation.
Chatter doesn't matter: Has Adani been able to firewall himself?
Adani Group faced a tumultuous period after allegations by Hindenburg Research, but quickly recovered and regained market value. Recent accusations regarding a coal deal and ethical concerns have failed to impact the group's stocks significantly. Investors seem impervious to negative chatter as the group continues its growth journey.
Financial Times report against Adani Group is just for noise: Cantor Fitzgerald
Cantor Fitzgerald dismisses recent Financial Times report on Adani Group as market noise, indicating investors' confidence remains intact. Adani Enterprises' shares surged 8.2% following the allegations, marking a tenth consecutive day of market capitalization gains. Adani Group refuted the accusations, citing contractual obligations and rigorous testing processes, while Cantor highlighted discrepancies in the FT report's sources and noted India's growth trajectory as favorable for Adani Enterprises despite controversies.
Go Digit makes stock market debut, gains 12% on issue price
Ahead of the issue opening, the firm raised about Rs 1,176 crore in the anchor round, where Fidelity Investments, Goldman Sachs, ADIA, and Custody Bank of Japan were among the investors.
FY24 milestone year for Tata Consumer Products: N Chandrasekaran
Tata Consumer Products, led by N. Chandrasekaran, highlights a milestone year in its 2023-24 annual report. Completing the amalgamation of Tata Coffee, integrating brands like Tata Soulfull and NourishCo, and acquisitions like Capital Foods and Organic India, signal a transformative phase. Revenue growth, expanded distribution, and increased market capitalization underscored its success.
Promoter entities likely to sell 2.5% stake in Cipla worth Rs 2,637 crore: Report
Promoters of drugmaker Cipla are expected to offload 2.53% of their stake in a block deal worth Rs 2637 crore on Wednesday, according to sources.
Promoter group entities likely to sell 2.5% stake in Cipla worth Rs 2,637 crore via block deals: Report
The price range of the block is fixed at Rs 1,289-1,357, taking the total deal value to around Rs 2,637 crore.
CBDT brings new update in income tax AIS; now you can check the status of correction request; Here's how it works
Annual Information Statement (AIS): The Central Board of Direct Taxes (CBDT) has updated the functionality of AIS which can be found on the compliance portal. Now after you put in a correction request, you will be able to see whether the reporting source took any action at all. CBDT says this makes the system more transparent.
Amazon pumps Rs 1,660 crore into India marketplace entity
Amazon's biggest rivals in India, Flipkart and Meesho, are also raising fresh capital. Walmart-backed Flipkart received a cash infusion of about Rs 924 crore in two parts from its related entities based in Singapore in January. Meesho closed a $275 million funding round comprising a mix of primary and secondary share sales.
AI spending in India may triple to $5 billion by 2027: report
"AI spending in India is expected to increase to $5 billion with CAGR (compound annual growth rate) of 31.5 per cent between 2023 to 2027. By 2027 AI will be everywhere," Sharath Srinivasamurthy, Associate Vice President, IDC said.
Big 4's dominance: Local companies call for level playing field
Indian auditing firms are pushing for fair competition with multinational counterparts, expressing concerns over the Big Four's increasing dominance and alleged manipulation of regulatory loopholes. The Institute of Chartered Accountants of India (ICAI) recently investigated affiliates of EY, Deloitte, PwC, and KPMG, where the firms were able to obtain court stays against disciplinary actions by the ICAI disciplinary committee after years of scrutiny, according to local rivals.
India blasts USCIRF, describes it as biased entity with political agenda
India criticizes USCIRF for biased propaganda in its annual report. Ministry of External Affairs spokesperson Randhir Jaiswal condemns USCIRF's interference in India's affairs and its criticism on various issues.
SEBI finds Adani offshore investors in disclosure rules violation, sources say
India's markets regulator found a dozen offshore funds invested in Adani group companies were in violation of disclosure rules and in breach of investment limits, two people with direct knowledge of the matter said on Monday. They declined to be named as they not authorised to speak to media.
RBI asks banks to look at setting up central fund to pay internal ombudsmen
RBI advises creating a central fund for internal ombudsman salaries to ensure independence and customer rights protection. The Annual Report highlighted a 68% increase in customer complaints. Challenges in implementation include differing compensation structures, as noted by a senior bank executive.
Two entities likely to sell 4.4% stake in Gland Pharma via block deals: Report
Nicomac Machinery and RP Advisory Services are looking at raising Rs 1,400 crore through the sale, and have set the floor price for the same at Rs 1,725/share. The floor price is at a discount of over 7% to the current market price of the stock. On Monday, shares of Gland Pharma ended nearly 6% higher on the NSE at Rs 1,856.
Razorpay’s payments entity reports flat profit of Rs 7.3 crore in FY23
Razorpay Software Pvt Ltd saw its revenue from operations grow 54% in FY23 to Rs 2,279 crore from Rs 1,481 crore in FY22. Employee benefits and salaries were one of the biggest cost centres for the startup, comprising 28% of the total expenses.
Regulated entities told to file reports with RBI faster
The half-yearly and quarterly review of accounts by the PSU banks would be submitted to RBI within 21 days from the date of receipt of the report from the statutory central auditor.
Load More
