Out of the five public sector banks that do not meet the Securities and Exchange Board of India's minimum public shareholding norm of 25%, Bank of Maharashtra may be the first one to dilute the government stake in the current financial year, Department of Financial Services Secretary Vivek...
The full Budget for 2024-25 (Apr-Mar) confirms that the Indian government is focused on bringing down the fiscal deficit despite demands from alliance partners, Fitch Ratings said today. In the Budget on Tuesday, Finance Minister Nirmala Sitharaman cut the fiscal deficit target for this year to...
The rupee is theoretically a market-determined currency, but since last year, it is the Reserve Bank of India which has held the steering wheel. And currency traders say that the central bank is now steering the rupee southward. The Indian rupee has depreciated 0.4% against the dollar so...
The Reserve Bank of India today issued a prompt corrective action framework for primary (urban) co-operative banks, which will be applicable to all urban co-operative banks under tier-2, tier-3 and tier 4 categories. "The objective of the PCA (prompt corrective action) Framework is to...
The Securities and Exchange Board of India in a fresh order today barred Vijay Mallya, former chairman of the UB Group, from the Indian securities market for three years and from associating himself with any listed company for the same period. Mallya committed fraud by routing funds via sub-account...
