Equity benchmark indices started the trade on a positive note on Thursday mirroring a rally in the global markets and continuous foreign fund inflows. The BSE Sensex climbed 379.15 points to 61,654.24 after a firm start. The NSE Nifty advanced 108.25 points to 18,124.10. All the Sensex firms were trading in the green in initial [...]
Ahead of panchayat elections, the Mamata Banerjee-led West Bengal government on Wednesday presented a Rs 3.39-lakh crore budget for 2023-24, focusing on farmers, an ailing tea sector, the state’s potential as a logistics hub and budding entrepreneurs. Finance Minister Chandrima Bhattacharya said the state GDP is projected to grow at 8.4 per cent and the [...]
The cash-strapped Pakistan government on Wednesday introduced a money bill in parliament to raise Rs 170 billion in taxes by June this year as part of conditions by the IMF to get the next tranche of an already agreed loan. Finance Minister Ishaq Dar presented the Finance (Supplementary) Bill, 2023, in the National Assembly -- [...]
The nation's largest lender State Bank of India on Wednesday marginally increased the short-term lending rates across overnight to three year maturities by 10 basis points (bps) with immediate effect. While banks have almost fully passed on the 250 bps interest rate hikes by the Reserve Bank since last May, they have not yet increased [...]
The union Cabinet on Wednesday approved setting up of 2 lakh new Primary Agriculture Credit Societies (PACS) and dairy-fishery cooperatives in uncovered villages and panchayats over the next five years to strengthen cooperative movement in the country. At present, there are around 63,000 functional PACS out of nearly 99,000 PACS across the country. There are [...]
State-owned power giant NTPC plans to raise term loan of USD 750 million (about Rs 6,213 crore) in Japanese Yen (JPY) denomination to finance its capital expenditure on new and ongoing projects. The company has sought bids for the JPY loan, which is to be raised through External Commercial Borrowing route. According to a bid [...]
Life Insurance Corporation of India is an Indian public sector life insurance company that recently filed with the exchanges that it has increased its stake in Voltas Limited, a Tata group company. In the latest quarter, it bought 54,14,205 additional shares of Voltas limited taking its total shareholding to 3,26,91,708 up from 2,72,77,503 shares. Thus, [...]
Registrar and transfer agent of mutual funds Computer Age Management Services Ltd (CAMS) on Wednesday said its payment platform CAMSPay, has received in-principal authorisation from the Reserve Bank of India to operate as a payment aggregator, the company said on Wednesday. CAMSPAy, a payment platform specialising in solving banking and finance services sector's payment challenges [...]
Finance minister Nirmala Sitharaman on Wednesday said that the effort of the government over the years has been to increase public expenditure with a view to promote growth. Speaking at the Post-Budget interactive session with the members of the industry chamber PHDCCI, the minister said that the government in the 2023-24 budget increased the capital [...]
Auto components maker Uno Minda Ltd will invest Rs 175 crore to expand its facility at Neemrana in Rajasthan to meet the growing demand for airbags ahead of mandatory norm of six airbags for passenger cars and SUVs coming up in October this year, according to its group CFO Sunil Bohra. The company, which has [...]
