Tag Archives: finance:

Govt should take CMs’ views before changing 15th Finance Commission’s terms of reference: Manmohan

Former Prime Minister Manmohan Singh on Saturday said the government should have taken chief ministers’ views before changing the terms of reference of the 15th Finance Commission, adding that unilateralism is not good for federal policy and cooperative federalism. Earlier in July, the Centre changed the terms of reference of the 15th Finance Commission and mandated the panel to suggest ... Read More »

Finance Ministry announces measures to boost capital expenditure by ministries, CPSEs

The Finance Ministry has decided to constantly monitor large infrastructure projects under different ministries and central public sector enterprises (CPSES) in order to expedite capital expenditure of the Union government. To this end, the Finance Ministry would develop a dashboard where ministries could upload figures related to their infrastructure projects on periodic basis. The decision came after senior officials from ... Read More »

Bajaj Finance picks banks for Rs 7,000-8,000 crore share sale

Mumbai: Sanjiv Bajaj-backed Bajaj FinanceNSE 0.74 % has appointed investment banks Moran Stanley, JM FinancialNSE 3.30 %, Kotak Mahindra Capital Co and Nomura Holdings to help raise around Rs 7000-8000 crore through a qualified institutional placement or QIP. The issue that will help the non-banking finance company shore up its equity base, is expected to see a lot of interest from institutional investors in the aftermath of the ... Read More »

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 »

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 »