Finance

PMO, finance, corporate affairs ministry working together to boost economy

The work has begun to tackle economy slowdown. (Photo used for representation) Tax reforms, banking reforms and amendment in the companies act will be brought into effect very soon to boost growth. Government sources have told India Today TV that the Prime Minister’s Office (PMO) along with the finance and the corporate affairs ministry officials are now working upon a ... Read More »

PNB Housing Finance raises around ₹690 crore from IFC

New Delhi: PNB Housing Finance Ltd on Monday said it has raised $100 million (around ₹690 crore) from International Finance Corporation (IFC), a member of the World Bank Group, to finance the purchase of affordable housing projects. “The investment was made under the central bank’s automatic route in the revamped external commercial borrowings (ECB) framework,” PNB Housing Finance Ltd said in a regulatory ... Read More »

Opinion | The rise of finance and the globalization of madness

There is an emerging consensus that globalization is reversing. Trade protectionism is on the rise and labour flows across borders are being resisted. But globalization is still going strong in one area. Madness in financial markets is global, and it shows no sign of stopping. There are six examples. Bonds trading at negative yields have recently crossed $13 trillion. Greek ... Read More »

Budget 2019: Finance minister took the easier route instead of catching those who avoid tax

Union Budget 2019: While the FM has settled for earning `12,000 crore more, slashing rates and the resultant increase in compliance could have generated several times more than this amount. Budget 2019: Given how precarious the government’s finances are—FY20 tax collections need to rise 18.3% versus FY19’s 8.4% if you use the numbers put out by the CGA—it is not ... Read More »

Share market update: Nifty Financial Services index up; Indiabulls Housing Fin rises 2%

NEW DELHI: The Nifty Financial Services index was up with its components trading on a mixed note in Thursday’s afternoon session. Shares of Indiabulls Housing Finance (up 2.03 per cent), Max Financial ServicesNSE 0.23 % (up 1.82 per cent), Housing Development Finance Corporation (up 1.73 per cent) and State Bank of India (up 0.62 per cent) were the top gainers in the ... Read More »

Precision Finance: What It Could Mean For Financial Securities

Digital securities (often referred to as security tokens) represent ownership of regulated financial products backed by equity, debt or equity/debt derivatives stored on a blockchain-based database system. Unlike the wild-west behavior found with initial coin offerings, digital securities apply the established rules of compliant fundraising for businesses into the new technical features of a blockchain-based asset. This field continues to ... Read More »

ICICI Bank buys 9.9% stake in Kisan Rural Finance for Rs 17.82 crore

ICICI Bank has bought a 9.9 percent stake in non-banking finance company Kisan Rural Finance for a cash consideration of Rs 17.82 crore. Kisan Rural, incorporated on December 7, 2017, had a net loss of Rs 4,800,000 (Rs 0.48 crore) on revenue of Rs 400,000 (Rs 0.04 crore) in FY2018. The deal will involve the acquisition of roughly 1.49 crore equity shares with ... Read More »

Opinion | The role of finance commissions in sustainable development

Irrespective of controversies around the remit of 15th Finance Commission (FC), it is evident from its terms of reference that the government wants it to play a key role in fostering sustainable development in India. Indeed, constitutional status and the ability to suggest far-reaching reforms on financing, allocation and use of funds by three tiers of governance makes the central ... Read More »

L&T Finance to launch Rs 1,500 crore NCD issue

Mumbai: L&T Finance said on Thursday it will launch a non-convertible debenture (NCD) issue to raise up to Rs 1,500 crore, yielding up to 9.35 per cent per annum. This tranche opens for subscription on March 6 and closes on March 20. The issue size is Rs 500 crore, with a greenshoe option of Rs 1,000 crore. These secured NCDs are rated ... Read More »

Finance Secretary Ajay Narayan Jha Gets One-Month Extension

Ajay Narayan Jha is a 1982 batch Indian Administrative Service officer of Manipur cadre. NEW DELHI: Finance Secretary Ajay Narayan Jha has been given one-month extension in service and appointed as the member of the 15th Finance Commission, according to a Personnel Ministry order. He is a 1982 batch Indian Administrative Service officer of Manipur cadre. The Appointments Committee of the ... Read More »