Economic & Finance News

Cross-border remittances using e-rupee to halve cost of such payments to 2-3 pc: DEA Secy Ajay Seth

Central Bank Digital Currency (CBDC), or e-rupee, can help reduce the cost of cross-border remittances by 2-3%, according to an official. The Central Bank Digital Currency (CBDC) is a digital [...]

Centre seeks house approval for extra net spending of Rs 58,378 cr

The demands involve gross additional spending of more than ₹1.29 lakh crore in this fiscal, a significant chunk of which, ₹70,968 crore, will be met through savings or enhanced receipts [...]

About 33,000 notices sent by CBIC officers for discrepancies in GST returns filed in FY18, FY19

The National Co-ordination Committee of the State and Central GST officers, chaired by the Revenue Secretary, is likely to be held by the end of this month or early January, [...]

I&B sector attracts ₹6,058 crore FDI in H1 of FY24

As per data sourced from the Department for Promotion of Industry and Internal Trade (DPIIT), the sector accounted for 3.6% of the overall FDI inflow of ₹31,720 crore during the [...]

Finance ministry gave Rs 10,000 crore advance for MGNREGS from contingency fund: Govt

In reply to a question on the MGNREGS funds being exhausted, Minister of State for Rural Development Sadhvi Niranjan Jyoti said the Union government has released Rs 66,629 crore to [...]

Centre’s debt estimated to drop to 57.2% of GDP in FY24: MoS finance

Minister of state for finance Pankaj Chaudhary, in a written reply in the Rajya Sabha, stressed that the risk profile of the debt “stands out as safe and prudent in [...]

FDI inflows drop 16% in H1 due to global recession

Minister of state for finance Pankaj Chaudhary has said, in a written reply, the inflow have been impacted by the "threat of global recession, economic crisis due to the Russia-Ukraine [...]

No relaxation in borrowing terms for states, says Finance Minister Sitharaman

“Presently, there is no proposal to relax the existing terms for borrowing capacity of the State Governments including the Government of Kerala,” Sitharaman said in response to a question on [...]

Nearly 8 crore ITRs filed till December 2

As of December 2, 2023, a total of 7.76 crore income tax returns for the financial year 2022-23 have been filed. More returns are expected to be filed by the [...]

CBIC launches two-factor authentication for all e-way bill, e-invoice

CBIC has implemented two-factor authentication for e-waybill and e-invoice systems from December 1, heightening security measures within the goods and services tax systems. The rollout began in Haryana, extending soon [...]

Disbursement of Rs 79 crore incentives under PLI for white goods expected in last quarter of this fiscal

Indian government is set to disburse around Rs 79 crore in fiscal incentives under the Production Linked Incentive (PLI) scheme for white goods in the last quarter of the financial [...]

Sharp decline in FDI into India from Cayman Islands, Cyprus during April-Sep

For Cayman Islands, Kumar said that in October this year, the region was removed from the grey list by FATF (Financial Action Task Force) and this may result into positive [...]

Narayan Sheshadri appointed IDRCL chair, incumbent Diwakar Gupta to head NARCL

Narayan Seshadri, former KPMG managing partner, is set to become the chairman of India Debt Resolution Co Ltd (IDRCL), the government-backed bad bank's agent, following approval from the company's board. [...]

GST collections for November at 1.68 lakh cr, up 15% YoY

Of the total collections, central GST (CGST) is Rs 30,420 crore, state GST (SGST) is Rs 38,226 crore, Integrated GST (IGST) is Rs 87,009 crore, including Rs 39,198 crore collected [...]

Credit metrics of India Inc likely to improve to 4.5-5 times in Q3 FY24: Icra

Icra's analysis of the second quarter of 2023-24 performance of 601 listed companies (excluding financial sector entities) revealed improved operating profit margins (OPM), increasing by 398 bps and 64 bps [...]

Market News

6 Adani stocks, Tata Power among 10 stocks that triggered 4% weekly rally in BSE 500

Even as the S&P BSE Sensex hit a new lifetime high of 69,893.8 and ended with weekly gains of over 2%, the broader BSE500 had no dearth of action. [...]

Block deals worth over Rs 25,200 crore take place this week; RIL, Airtel among stocks with significant action

In the largecap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 12,612 crore led by Reliance Industries (RIL) with a 12 block count, totalling [...]

Sebi mulls over Rs 250 SIP sachets in mutual funds amid industry reservations

"We are working with them (MF industry) to see where is the cost...what can Sebi do to facilitate making it possible to bring that viability down to Rs 250 a [...]

How top Indian insurance houses rejigged their portfolios in November

HDFC Life Insurance's prominent additions in November were Tata Tech, IREDA, and Gland Pharma. It completely exited Abbott India, Kansai Nerolac, and SKF India. [...]

Learn With ETMarkets: Role of central banks in shaping interest rates and the economy

The Reserve Bank of India (RBI) is often referred to as the ‘banker's bank’. But it is not just any bank; it plays a crucial role in maintaining the stability [...]

6 timeless lessons on investing & life from Morgan Housel's new book Same as Ever

After delivering an international bestseller ‘The Psychology of Money’, Morgan Housel has come up with a practical book on how understanding human behaviour can help us look at many of [...]

Evolution of investor portals and its impact on investor relations in alternative investments

The catalyst for the development of investor portals in alternative investments can be attributed to the broader trend of digitalization in the financial industry. As investors and fund managers sought [...]

Nifty@21,000: What is the best investment opportunity?

Bank Nifty has grappled with underperformance in the past 5 years compared to the benchmark Nifty50. The banking index recorded a growth of 78%, notably trailing behind Nifty50, which witnessed [...]

Federal Bank among 8 mid & smallcap stocks can rally up to 30%

Axis Securities believes that the Indian economy stands in a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy. [...]

S&P 500 and Nasdaq notch highest closes since early 2022

Investors pared bets that the Federal Reserve will cut interest rates in March after a Labor Department report showed nonfarm payrolls increased by 199,000 jobs in November, compared with an [...]

58 smallcaps yield up to 51% as markets extend gains to sixth straight week

During the week, 58 smallcap stocks delivered double-digit weekly returns with Spencer Retail surging as high as 51%. It was followed by BCL Industries (35.6%), 63 Moons Tech (27.6%), and [...]

Wall St Week Ahead-Year-end rally in US stocks faces twin tests as Fed, inflation data loom

The S&P 500 rose 0.2% this week, marking its sixth-straight weekly increase, the longest such winning streak in about four years. The index stands at its highest closing level since [...]

GQG Partners bets Rs 1,672 crore on GMR Airports, acquires 4.7% stake

The shares were bought at Rs 59.09 apiece, a 4% discount to the previous closing price of the stock. Besides GMR Airports in the transport infrastructure space, GQG Partners also [...]

Retail investors 'gambling' in stocks? Nithin Kamath's take on popular view

Most of Zerodha's AUM was added post-2020, which is one of the biggest bull markets India has seen. While equity funds saw a slowdown in the pace of inflows, investments [...]

Bank of India QIP subscribed 4.11 times; lender raises Rs 4,500 crore

The lender received a total 104 bids aggregating up to Rs 18,483 crore, it said in an exchange filing. The state-owned lender allotted shares to qualified institutional buyers at Rs [...]