State Bank of India (SBI) on Tuesday said it plans to divest up to 10% stake in its life insurance arm SBI Life.
There could not be a better time to be an investor or an entrepreneur in India. But the absence of women in technolgy startups and investing is galling.
The Income Tax department on Tuesday took to the strategy of 'naming and shaming' of some large tax defaulters as it published names of 18 entities who owe over Rs 500 crore tax to the exchequer.
The benchmark BSE Sensex regained the 28,000-mark by surging over 106 points in early trade of the last session of financial year 2014-15 on the back of a rally in metals, oil and gas, consumer durables, IT and healthcare sector stocks amid a firming trend overseas.
The rupee recovered by 10 paise at 62.57 against the US dollar in early trade on Tuesday at Interbank Foreign Exchange on fresh selling of the American currency by exporters.
Looking to expand its presence in India, Chinese ecommerce giant Alibaba's chairman Jack Ma on Monday met Prime Minister Narendra Modi, as he came on a visit to India for the second time in just about four months.
The Reserve Bank of India (RBI) on Monday allowed banks to divert a greater share of a mandatory contingency fund to provide for bad loans, a move that will improve lenders’ profitability and bolster their balance sheets.
Driven by increasing internet usage for making payments and online purchases, mobile wallet companies such as Paytm, Oxigen, Citrus, MobiKwik have been on a hiring drive in recent weeks.
The Sensex on Monday surged 517 points, or 1.88%, to end at 27,975.86, as banks and other large-cap stocks rose after the Reserve Bank of India relaxed provisioning norms for bad loans that would improve the balance sheets of most lenders.
Following reports of alleged leaking of sensitive information from various ministries, the department of financial services, which includes banking and insurance divisions, has decided to restrict visitors’ entry into office premises.
Oil prices dipped in Asian morning trading on Monday, adding to steep losses in the previous session, as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted. Iran and six world powers tried to break an impasse in nuclear negotiations on Sunday ahead of a deadline to find a prelminary deal by Tuesday.
Capital markets regulator Sebi said on Monday that by June it will finalise norms for start-ups which will incentivise them to list within the country, and sees a revival in the primary markets over the next 6-9 months.
Indian government's efforts to revive the stranded gas-based power projects will benefit the banks as they have significant exposure to such plants, credit rating agency Moody's said on Monday.
The rupee fell by 17 paise to 62.58 against the US dollar in early trade on Monday at the Interbank Foreign Exchange due to rise in the American currency's value against other global currencies amid month-end demand for the dollar from importers.
Public sector banks, which need to raise nearly Rs 2.5 lakh crore to meet the stringent Basel-III capital requirement norms, have been finding it tough to raise capital by hiving off their non-core businesses.