Sri Lanka would seek a new temporary credit facility of USD 1 billion from India to purchase essential items including food and medicine, the official media here reported on Monday. Sri Lanka received 333 million dollars, the first tranche of the USD 3 billion International Monetary Fund (IMF) bailout programme last week to overcome its [...]
Finance minister Nirmala Sitharaman on Monday informed the Lok Sabha that 54 FDI proposals with investor/beneficial owner from China and Hong Kong are pending for decision with the government. In April 2020, the government had amended the FDI policy in order to curb opportunistic takeovers/acquisitions of Indian companies due to the COVID-19 pandemic. As per [...]
Tata Cleantech Capital, the green funding arm of Tata Capital, on Monday said its equity partner International Finance Corporation has picked up its sustainability-linked bonds worth USD 50 million or about Rs 375 crore. The bonds are the first in the country by a private financial institution, and the money will help Tata Cleantech Capital [...]
The Himachal Pradesh government on Monday signed a memorandum of understanding with HLC Green Energy to make it the 'First Green State' by 2025, Chief Minister Sukhvinder Singh Sukhu said. The project will bring in an investment of more than Rs 4,000 crore, besides generating direct and indirect employment opportunities for about 2,500 persons. It [...]
Markets regulator Sebi on Monday simplified the procedural requirements for onboarding of Foreign Portfolio Investors (FPIs) in a bid to facilitate ease of doing business and to reduce the time taken for their registration. The regulator allowed designated depository participants (DDPs) to grant FPI registration on the basis of scanned copies of application forms and [...]
The finance ministry has asked public sector banks (PSBs) to do proper monitoring of top loans and make adequate provisions for pledged shares of big corporates in view of the current global financial scenario emanating from the failure of some international banks in the US and Europe. According to sources, there is a need for [...]
Equity benchmark indices climbed in early trade on Tuesday tracking a firm trend in Asian markets and buying in index major Reliance Industries, HDFC twins and IT counters. The 30-share BSE Sensex climbed 295.59 points to 57,949.45 in early trade. The broader NSE Nifty advanced 76.05 points to 17,061.75. Among the Sensex firms, Tata Steel, [...]
Retirement fund body EPFO fixed 8.15 per cent rate of interest on employees’ provident fund (EPF) deposits for 2022-23 at its meeting on Tuesday. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent [...]
IT Minister Ashwini Vaishnaw on Monday hinted at a "big announcement" in a few weeks in the context of conversational AI tools. To a specific question on whether India can build something equivalent to the conversational AI tool ChatGPT, the minister said "wait for a few weeks, there will be a big announcement". When asked [...]
Pakistan has begun in-house consultations to decide whether to attend the Shanghai Cooperation Organisation (SCO) meetings of the defence and foreign ministers in India, a report said on Monday. New Delhi has already extended invitations to Defence Minister Khawaja Asif and Foreign Minister Bilawal Bhutto-Zardari. The defence ministers’ meeting is scheduled in April in New [...]
