Economic & Finance News

50% of Rs 2,000 notes in circulation have come back to banks, reveals RBI

Citing bank data, Das said Rs 2,000 notes worth Rs 3.62 lakh crore were in circulation as of end March 2023, of which notes worth Rs 1.8 lakh crore have… [...]

EPFO may hire separate consultants for equity and debt portfolios

A high-level committee will soon be formed by EPFO to propose the division of work between two consultants for for equity and debt portfolios [...]

Minimum assured return pension scheme in the works: PFRDA chief, Mohanty

The Pension Fund Regulatory and Development Authority (PFRDA) is developing a minimum assured return pension product. The pension scheme is anticipated to have higher premiums to ensure attractive returns, the… [...]

RBI's gold reserve up over 40% in five years

India's gold reserves have surged by over 40% since the country resumed purchasing the precious metal over five years ago. The RBI's continuous purchase underscores gold's prominence in international reserve… [...]

Despite heavy supply, debt cost slips marginally for states to 7.32  per cent

In spite of that, the weighted average cut-off eased by 3 bps to 7.32 per cent from the last auction. The fall is also regardless of the fact that there… [...]

EPFO looks to increase equity investments

The retirement fund body will soon approach the finance ministry to seek its clearance for investing the proceeds from ETFs in any permissible asset class to maximise returns. A proposal… [...]

Pension regulator wants capital cover for assured return plans

Unfunded schemes such as the old pension scheme are not sustainable, something that is being witnessed the world over, Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty told… [...]

Centre gets Rs 4,185.31 crore from Coal India stake sale

The government has received Rs 4,185 crore through a 3 per cent stake sale in state-run Coal India, as per the Department of Investment and Public Asset Management (DIPAM) website.… [...]

Sidbi's India Microfinance Equity Fund doesn't find many takers

Several NBFC-MFIs found the clauses attached for taking the funding support from Sidbi quite stringent. They believe the clauses may create roadblocks in raising fresh equity from new investors. One… [...]

Finance Ministry, ADB organise workshop on Expected Loss-based Credit Rating Mechanism

The Ministry of Finance and Asian Development Bank (ADB) on Monday organised a workshop on Expected Loss-based Credit Rating Mechanism. The workshop was addressed by Economic Affairs Secretary Ajay Seth,… [...]

View: Banking sector recovery has given leg up to GDP growth

A good starting point for understanding the contemporary banking landscape in India is the policy response to the global financial crisis (GFC). Rightly anticipating the spillover effects of the GFC,… [...]

Private capex to see broad-based revival in FY24, says CII chief

The Reserve Bank of India's rate-setting panel is likely to hold on to the rates in this week's review, the CII president for 2023-24 told ET. [...]

Maharashtra: Bajaj Finserv to invest Rs 5k cr in Pune; will create 40k jobs, says Fadnavis

Deputy Chief Minister Devendra Fadnavis after signing the MoU said, Pune was gradually becoming a hub for financial services and the latest development involving Bajaj Finserve would boost the sector.… [...]

Sahara India's life insurance business to be transferred to SBI Life

SBI Life shall take over the policy liabilities of around two lakh policies of Sahara India Life Insurance Co, backed by the policyholders’ assets [...]

GST kitty swells, factory activity hits 31-month high

The GST collection rose 12% from a year earlier to ₹1.57 lakh crore in May while the Manufacturing Purchasing Managers' Index (PMI) climbed to 58.7 from 57.2 in Arpil. "May… [...]

Market News

Stock market update: Mining stocks  down  as market  falls

The 30-share BSE Sensex closed down 294.32 points at 62848.64 [...]

6 healthcare stocks touch new 52-week highs, rally up to 30% in a month

On Thursday, the benchmark Sensex cracked 295 points to close at 62,849. Despite the overall market slide, the BSE healthcare index six stocks reached new highs in the past 52… [...]

Breakout Stocks: How are Tata Tele, Paytm, and Alembic Pharma looking on charts for Friday

Stocks that were in focus included names like Tata Tele, which rose nearly 15%, Paytm or One 97 Communications, which closed with gains of over 6%, and Alembic Pharma which… [...]

L&T Finance approves final dividend of Rs 2 per share. Check details

L&T Finance Holdings has recommended a final dividend of Rs 2 per equity share for FY 2022-23 to its members, which if approved, will be credited within 30 days from… [...]

Sensex  falls! These  stocks fell 5% or more in Thursday's session

In the Nifty pack, 11 stocks closed in the green, while 39 stocks ended in the red. [...]

Tech View: Nifty charts hint at reversal on the downside. What should traders do on Friday

Nifty formed a downside reversal pattern on Thursday with immediate support levels at 18,580 and 18,530 zones, establishing a broader trading range of 18,450 to 18,900 zones, according to option… [...]

Share market update: Most active stocks in today's market in terms of volume

The NSE Nifty index closed 91.85 points down at 18634.55 [...]

Stock market update: Stocks that hit 52-week lows on NSE in today's trade

Grasim Inds., Kotak Bank, Sun Pharma, Tech Mahindra and Apollo Hospital were among the top losers on NSE in today's trade. [...]

RBI policy: Investors to benefit from falling interest rate regime

The Reserve Bank of India (RBI) has kept interest rates on hold and maintained its stance to mitigate inflationary risks, at its latest monetary policy meeting. India's GDP growth forecast… [...]

Stock market update: Nifty Pharma index  falls  1.03%

The Nifty Pharma index closed 1.03 per cent down at 12911.35. [...]

Big 5 auditors handle nearly every 2 out of 3 Nifty500 companies: Report

India's five largest audit firms dominated the audits of Nifty500 companies in FY23, handling almost two out of every three audits. The Indian Big 5 audit firms managed 551 assignments… [...]

Stock market update: Nifty Auto index  falls  0.86%

The Nifty Auto index closed 0.86 per cent down at 14692.0. [...]

Zomato stock retests IPO price after a long wait. Should you buy now?

Zomato's stocks hit a 52-week high and rose by 4% in the last five sessions, with shares trading at Rs 76 on NSE. The company has recovered its losses incurred… [...]

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Lloyds Luxuries, Essar Shipping, Shivalik Bimetal, TBZ and Dynamic Services, hit their fresh 52-week highs during the day. [...]

Stock market update: Sugar stocks  down  as market  falls

The 30-share BSE Sensex closed down 294.32 points at 62848.64 [...]