The Gujarat government on Monday signed 18 memoranda of understanding (MoU) worth Rs 9,852 crore under the state government's 'Aatmanirbhar Gujarat Schemes for Assistance to Industries', which was announced last year to boost new investment, an official release said. Through these 18 agreements, various firms have pledged to invest Rs 9,852 crore in different parts [...]
The Reserve Bank of India (RBI) on Monday cancelled licence of Garha Co-operative Bank, Guna in Madhya Pradesh as the lender does not have adequate capital and earning prospects. About 98.4 per cent of the depositors of the co-operative bank are entitled to receive full amount of their deposits from Deposit Insurance and Credit Guarantee [...]
The central government on Monday again clarified that the funds deposited for National Pension Scheme (NPS) cannot be given to state governments as per the current laws. Both finance minister Nirmala Sitharaman and finance secretary Vivek Joshi said that if any state is expecting that the funds deposited for NPS can be returned to them [...]
The value of foreign portfolio investors' (FPI) holdings in the domestic equities reached USD 584 billion at the end of December 2022, which was 11 per cent lower from preceding year, according to a Morningstar report. This was largely on low return given by the Indian equities and exodus of foreign money from the domestic [...]
Union Finance Minister Nirmala Sitharaman on Monday said that the government is taking a lot of steps to control inflation and will continue to focus on it. For instance, in the case of pulses, the government is encouraging farmers to grow pulses to boost domestic production and has also reduced the import duty on some [...]
The government has extended the enforcement date of its steel and steel products quality control order for a ferronickel grade by another six months till July 23 this year. "The Steel and Steel Products Quality Control Order dated December 22, 2020, and subsequent order dated November 1, 2022, the date of enforcement of Indian Standards [...]
Tony Jesudasan, a key lieutenant of Anil Ambani's Reliance group and one of the finest corporate communications and corporate affairs professionals, died early on Monday morning. He was 71. Earlier this month, Jesudasan had suffered a heart attack just as he took a flight from Bhopal, sources said. He was rushed to Fortis Hospital on [...]
Net interest income of banks grew by a record 25.5 per cent to Rs 1.78 lakh crore in the December 2022 quarter on-year, driven by a healthy credit off-take and higher yield on advances, according to an analysis. The quarter saw banks booking higher yields on advances as the system-wide core profitability metric net interest [...]
The finance ministry has called a meeting of heads of public sector banks and top four private sector lenders to review the progress of the emergency credit line guarantee scheme (ECLGS) to help businesses affected by COVID-19. The meeting is scheduled to be held on February 22 to review progress on ECLGS and Loan Guarantee [...]
Strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive and sustainable 'cities of tomorrow' are some of the key agenda items for first G20 Finance Ministers & Central Bank Governors' meeting to be held at Bengaluru later this month. The First Finance Ministers & Central Bank Governors [...]
