A new Aadhaar-based framework has been rolled out for cooperative banks, paving the way for them to offer authentication and eKYC services that had long remained out of reach due to compliance and cost hurdles.Announcing the initiative at a workshop in New Delhi on Friday, Cooperation Ministry Secretary Ashish Kumar Bhutani said the move will […]
India-US trade deal talks back on track! Piyush Goyal expected to visit America; ‘may be in the next few days’
The commerce ministry reported on September 16 that discussions with the visiting US delegation were constructive. India-US trade deal talks are back on track with commerce minister Piyush Goyal expected to visit America soon. The visit would follow the recent one-day discussions between US Chief Negotiator Brendan Lynch and Indian counterpart Rajesh Agrawal in India, […]
SEBI clean chit in Hindenburg case: Adani Group valuation soars Rs 69,000 crore in a single session; stocks rally strongly
Adani Group firms saw their combined market value surge by more than Rs 69,000 crore during Friday’s trading session. Gautam Adani-led Adani Group stocks rallied strongly in trade on Friday after SEBI cleared the companies of Hindenburg-related allegations. The regulatory body’s ruling, which rejected claims of share price manipulation and improper related-party dealings, boosted investor […]
Sebi eases securities transfer, introduces TLH code; simplifies nominee-to-legal heir process
Markets regulator Sebi on Friday announced a simplified framework for transferring securities from a nominee to the legal heir, aimed at reducing unnecessary tax and compliance hassles.Under the current system, such transfers were sometimes treated as “sales” and assessed for capital gains tax, even though Section 47(iii) of the Income Tax Act, 1961, exempts them. […]
Gold rate today: Prices rebound Rs 800 in Delhi to Rs 1.14 lakh per 10g; silver up Rs 500
Gold rate today: Gold prices bounced back in the national capital on Friday, rising by Rs 800 to Rs 1,14,000 per 10 grams, driven by strong global cues amid escalating geopolitical tensions and renewed trade frictions between the US and China. The yellow metal of 99.9 per cent purity had closed at Rs 1,13,200 per […]
Forex kitty expands to $702.9 bn, $4.7 bn added in a week; gold reserves rise $2.1 bn
India’s foreign exchange reserves rose by $4.698 billion to $702.966 billion for the week ended September 12, according to data released by the Reserve Bank of India on Friday.This marks the second consecutive week of robust accretion, after reserves had climbed $4.038 billion to $698.268 billion in the previous reporting week, PTI reported.Foreign currency assets, […]
Stock markets steady on SIP flows: Jefferies says mutual fund inflows preventing crash; stocks seen trading sideways
India’s stock markets are being propped up largely by consistent mutual fund investments, which are preventing a sharper fall despite heavy outflows, Jefferies has said in a new report.The brokerage noted that without these steady inflows, the high level of equity supply in the market could have triggered a collapse, news agency ANI reported. “Indian […]
GST rate cut impact on exchequer likely minimal, to boost consumption and widen tax base: Crisil
The Goods and Services Tax (GST) Council’s decision to shift from four slabs to a simpler two-rate structure of 5 per cent and 18 per cent from September 22 is unlikely to weigh on government finances, ratings firm Crisil has said.In its latest report, Crisil noted that the government has estimated a short-term annualised revenue […]
Big trade boost: India, UAE aim to double bilateral non-oil, non-precious metal trade to $100 billion; what’s on the agenda
The ministerial delegation, comprising over 70 representatives, aims to boost exports in sectors including textiles. (AI image) India and the UAE are looking to reach a figure of $100 billion trade in non-oil and non-precious metal segments – double from the levels right now. The plan has been outlined to achieve the target in the […]
Adani Group shares jump! Almost all stocks in green after Sebi clears Hindenburg claims; Adani Power up nearly 9%
Adani Group stocks rise:Adani Group stocks rise: Adani Group shares rallied on Friday, a day after the Securities and Exchange Board of India (Sebi) dismissed allegations of stock manipulation levelled by US short-seller Hindenburg Research.All nine Adani-listed firms opened higher, with Adani Total Gas emerging as the top gainer, soaring 13.27%. Adani Energy Solutions jumped […]