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The International Finance Corporation (IFC) is poised to book hefty returns from Tata Capital’s upcoming $2 billion (Rs 17,000 crore) initial public offering, as the World Bank Group arm looks to partially exit its investment in the non-banking finance company.According to the updated draft red herring prospectus (DRHP), IFC will offload 3.58 crore shares in…
India must urgently develop its own sovereign cloud technology, homegrown operating systems (OS), cybersecurity, and AI capabilities to reduce its over-reliance on US systems, the India-based Global Trade Research Initiative (GTRI) has argued, warning that current dependence poses major economic and security risks.In a report, GTRI highlighted that Indian phones, computers, defence, and government applications…
The combined market valuation of eight of the 10 most valued domestic firms jumped Rs 1,69,506.83 crore last week, in line with an upbeat trend at Dalal Street. Bajaj Finance led the gainers, while Hindustan Unilever and LIC were the only laggards.During the week, the BSE benchmark surged 1,193.94 points or 1.47 per cent, boosting…
File photo: Finance minister Nirmala Sitharaman (Picture credit: PTI) Finance minister Nirmala Sitharaman has indicated that the Insurance Amendment Bill, which proposes to raise foreign direct investment (FDI) in India’s insurance sector to 100 per cent, is likely to be introduced in Parliament during the upcoming Winter session, which is likely to commence from the…
US President Donald Trump (R) and Chinese foreign minister Wang Yi (R) China has hit back strongly at the Donald Trump-led US after Washington called on its Nato allies to impose major sanctions on Beijing — 50 to 100 per cent — alleging China’s role in funding Russia and adding to its lethal potency in…
India’s primary market is set for a busy fortnight, with more than a dozen companies preparing to float their initial public offerings (IPOs) in the second half of September, collectively aiming to raise nearly Rs 10,000 crore. The surge comes on the back of policy support, including GST 2.0 reforms and the Reserve Bank of…
Household budgets in India are likely to get some relief after the recent revision in Goods and Services Tax (GST) rates, according to a report by PwC. The advisory firm noted that the rate adjustments are expected to make everyday expenses more manageable for consumers, potentially lifting overall consumption sentiment. PM Modi Hails GST Reforms…
Equity markets will closely follow the outcome of the US Federal Reserve policy meeting this week amid heightened expectations of an interest rate cut, along with wholesale price inflation data, analysts said.Any further developments on the US–India trade front will also be a critical driver of trends, as per news agency PTI.“Looking ahead, the key…
NEW DELHI: The Central Board of Indirect Taxes and Customs issued much-awaited clarifications to address problems faced by businesses when companies offer discounts to sellers. The move follows a discussion in this regard at the last all-important meeting of the GST Council, where GST rates were reduced.Very often dealers are offered discounts to push products…
NEW DELHI: Public sector banks need to aspire to global competitiveness, strengthen governance and operational resilience, and expand their role as sectoral champions across both traditional and emerging industries, a top official told the two-day brainstorming session of state run banks. M Nagaraju, secretary department of financial services, underlined that public sector banks have moved…
