The insolvency and bankruptcy code is a very positive financial sector reform, especially for the the banking sector, as it will give creditors a legal path for recovering their dues in a time-bound manner, says a Nomura report.
BSE, Asia's oldest stock exchange, plans to file draft papers with capital markets regulator Sebi to raise Rs 800 crore through its much-awaited initial public offer (IPO).
After two months of intense buying, foreign investors turned net sellers of Indian equities in the first week of May, pulling out about Rs 774 crore on global growth worries.
Asserting that taxi hailing apps like Ola and Uber must comply with its norms, RBI today said it is not a "paper tiger" and will enforce all regulations irrespective of whether they are "good, bad or ugly".
Reserve Bank is working on a new system for making public the list of wilful defaulters, while a new mechanism is being put in place for out-of-court settlement of bad loan-related disputes, Governor Raghuram Rajan said.
Warning against excessive banking regulation, RBI Governor Raghuram Rajan today said this may lead to activities shifting to shadow financial system and admitted to the lack of "know-how" for such businesses.
Snapping its last 2-week gaining spree against the American currency, the rupee dropped by 21 paise to 66.54 per dollar on fresh dollar demand from banks and importers.
Markets ended in red for the second straight week due to all-round selling pressure from operators on global growth worries, lacklustre factory data and tepid domestic earnings.
India's foreign exchange reserves increased by $1.52 billion to $363.12 billion as on April 29, 2016, the Reserve Bank of India (RBI) said.
Helped by buoyant investor sentiment, the asset base of country's mutual fund industry surged to an all-time high of over Rs 14.22 lakh crore at the end of April.
On a weekly basis, both the indices recorded their second weekly fall with Sensex plunging 378.12 points or 1.47 percent and Nifty dropping 116.45 points or 1.48 percent.
The Income Tax department has issued 2.10 crore refunds totalling over Rs 1.22 lakh crore in 2015-16, which saw 94 per cent the returns being filed online.
Market benchmark Sensex fell over 160 points in early trade and the NSE Nifty cracked below the 7,700-mark today due to profit-booking by investors after yesterday's gain amid weak cues from Asian markets ahead of the US employment data.
The Reserve Bank of India (RBI) on Thursday unveiled norms for on-tap universal banking licenses leaving out big business houses such as Reliance, Tata and Birla which were aggressively trying for floating universal banks.
For the first time since 2009, remittances by the overseas Indians slowed down bringing worries to external advisers of Reserve Bank of India (RBI) governor Raghuram Rajan abou the monetary policy impact.
Stocks rose for the first time in four days as market benchmark Sensex rebounded from over three-week lows by rising 160.48 points to 25,262.21 on value-buying in recently beaten-down stocks and firm global cues.
The Lok Sabha on Thursday passed the Finance Bill, 2016 by a voice vote.
The benchmark BSE Sensex extended its early gains in afternoon trade and moved higher by over 250 points on the back of value-buying by retail investors in recently beaten-down stocks.
Public sector Canara Bank on Wednesday said it has revised the lending rates based on the marginal cost of funds (MCLR) for May to 8.80-9.35 percent.
The number of wilful defaulters of PSBs rose from 5,554 to 7,686 in three years to December 2015 while the amount involved more than doubled to Rs 66,190 crore from Rs 27,749 crore.
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