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File picture of the headquarters of HDFC bank in Mumbai | Photo Credit: Reuters HDFC Bank on Tuesday said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank. The Reserve Bank of India (RBI) gave its approval on February…
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SecureKloud Technologies, a digital transformation and cloud technology provider listed on NSE and BSE, on Monday, said the Supreme Court of India upheld the recent Madras High Court ruling, in which the court unequivocally quashed the money laundering case filed by the Enforcement Directorate (ED) against US-based Indian entrepreneur Suresh Venkatachari, the promoter of SecureKloud…
File. | Photo Credit: ANI Equity benchmark indices climbed in early trade on February 6 amid buying in IT majors, mainly Tata Consultancy Services and Infosys along with fresh foreign fund inflows. After a firm beginning, the 30-share BSE Sensex climbed 243.4 points to 71,974.82 in early trade. The Nifty went up by 72.9 points…
Prime Minister Narendra Modi is scheduled to reply to Motion of Thanks to President’s address in Rajya Sabha tomorrow Source link
File. | Photo Credit: C. Venkatachalapathy The rupee stayed flat at 83.03 against the US dollar in early trade on February 6 amid volatile crude oil prices in the overseas market. The Indian currency, however, found support from positive sentiment in the domestic equity markets and sustained inflow of foreign funds, Forex traders said. They…
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T. V. Somanathan, Finance Secretary. File | Photo Credit: The Hindu Almost no country seems to adhere to fixed fiscal goals anymore, Finance Secretary T.V. Somanathan said in an interview to The Hindu, emphasising that the country’s high growth trajectory should enable a gradual decline in its debt to GDP ratio. He also noted that…
India’s Bharti Airtel reported third-quarter profit below estimates on Monday, as flat tariffs and higher costs outweighed growth in subscribers. The telecom operator reported a consolidated net profit of ₹24.42 billion ($294 million) for the quarter ended Dec. 31, compared to analysts’ estimate of ₹28.69 billion as per LSEG data. Airtel and rival Reliance Jio…
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Cholamandalam Financial Holdings Ltd., reported consolidated Q3 net profit rose 43% to ₹1,027 crore. Total income grew 43% to ₹6,842 crore, the core investment company of the Murugappa group said in a statement. Cholamandalam Investment & Finance Co. Ltd., disbursed ₹22,383 crore against ₹17,559 crore and net profit grew 28% to ₹876 crore. Assets under…
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The interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration. File | Photo Credit: Reuters India’s financial crime-fighting agency is investigating if platforms run by One 97 Communications, also known as Paytm, were involved in violations of foreign exchange rules, two senior Government sources said. The sources…
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The story so far: In a move towards standardisation and preventing the circumvention of duty, the Finance Ministry on Tuesday hiked import duties on gold and silver findings and coins of precious metal to 15%. This is inclusive of Basic Customs Duty (BCD), taxed at 10% of assessable value, and Agriculture Infrastructure Development Cess (AIDC)…
Read More “The hike in import duties for gold, silver findings | Explained ” »