May 2023

MUMBAI: RBI deputy governor M K Jain has asked bank directors to prioritise depositors’ interests over those of shareholders. Jain urged directors on banks‘ boards to monitor key risks, question the management on risk matters, and implement risk mitigation measures.Jain was speaking at a Conference of Directors of Banks organised by the RBI here recently. […]

NEW DELHI:Billionaire Gautam Adani‘s conglomerate is looking to raise about $3 billion through an equity share sale to institutional investors in the comeback strategy after the ports-to-energy group was hit by the damning Hindenburg report. While boards of Adani Enterprises, the group’s flagship firm, and Adani Transmission have already approved raising up to Rs 21,000

MUMBAI: Adani Ports‘s statutory auditor Deloitte has flagged concerns over certain deals the company had entered into, including one with an engineering, procurement and construction (EPC) contractor that was named in the Hindenburg report, as it could not confirm if these were non-related-party transactions.As a result, it has issued a “qualified opinion” on the FY23

NEW DELHI: Starting June 1, the government-backed open network for digital commerce (ONDC), is making certain revisions to its incentive structure. Under the new regime, the maximum pricing incentive will be capped at ₹100 per order from over Rs 120 earlier. Also, the total incentive will not exceed 50% of the total order value, including

NEW DELHI: India has transformed in a decade – it is different from what it was in 2013 – and has gained positions in the world order, with significant positive consequences for macro and market outlook, says a report by Morgan Stanley.“We run into significant scepticism about India, particularly with overseas investors, who say that

NEW DELHI: The Centre’s fiscal deficit for 2022-23 was in line with the government’s revised budget estimate of 6.4% of gross domestic product (GDP), helped by robust revenue receipts and expenditure management.Data released by the Controller General of Accounts (CGA) on Wednesday showed the deficit in absolute terms was at Rs 17.3 lakh crore compared

MUMBAI: In an attempt to tighten disclosure norms for ‘high-risk’ foreign funds with concentrated holdings, markets regulator Sebi has sought to ask such investors to identify the ultimate owners of the stocks they own. The regulator has floated a consultation paper to push transparency and prevent promoters of listed companies from circumventing minimum public shareholding

MUMBAI: The government will sell a 3% stake of Coal India through the offer-for-sale (OFS) route with the floor price at Rs 225 per share. The floor price is at 6.7% discount to Coal India’s closing price on Wednesday on the BSE at Rs 241. The OFS will open on June 1 and close on

NEW DELHI: Buoyed by the growth in FY23, chief economic adviser V Anantha Nageswaran said that the prospects for the Indian economy appear brighter than earlier as consumption demand was firming up, helping expand private capital expenditure. He also said that the moderation in commodity prices augurs well for inflation, with retail inflation expected to

MUMBAI: While 24-hour advance purchase domestic airfares for flying out of Delhi are soaring, the scenario isn’t much different from Mumbai or other cities.The cheapest 24-hour advance purchase ticket to Leh from Mumbai is Rs 22,500, and Rs 20,000 to Kochi. The conventionally expensive eastern and north-eastern destinations are cheaper, with Mumbai-Kolkata at Rs 7,200,