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The Economic Times
The Economic Times Sebi allows mutual funds to buy, sell credit default swaps
Markets regulator Sebi on Friday allowed mutual funds to both buy and sell Credit Default Swaps (CDS), a move aimed at increasing liquidity in the corporate bond market. This flexibility to participate in CDS would serve as an additional investment product for mutual funds, Sebi said in a circular.
The Economic Times Jio, Airtel, Vi record customer loss post tariff hike, BSNL becomes only gainer in July
In July, major telecom operators like Reliance Jio, Bharti Airtel, and Vodafone Idea saw a decline in their customer base due to a hike in mobile service tariffs. State-run BSNL was the only player to add new subscribers. The overall telecom subscriber base in India slightly decreased, while the fixed-line and broadband segments saw growth.
The Economic Times Sebi allows mutual funds to buy, sell credit default swaps
Markets regulator Sebi on Friday allowed mutual funds to both buy and sell Credit Default Swaps (CDS), a move aimed at increasing liquidity in the corporate bond market. This flexibility to participate in CDS would serve as an additional investment product for mutual funds, Sebi said in a circular.
The Economic Times SEBI refuses to disclose instances when Madhabi Buch recused on conflict of interest
The cases where SEBI chairperson Madhabi Puri Buch recused herself due to potential conflict of interest is not "readily" available and collating them would "disproportionately divert" its resources, the securities market regulator said in an RTI response on Friday
The Economic Times PM E-Drive scheme to have phased manufacturing plan to push EV parts production
The Prime Minister's E-DRIVE scheme will support local manufacturing of electric vehicle components through a phased manufacturing programme. Companies sourcing components locally will receive financial support without a domestic value addition mandate. The scheme replaces the FAME initiative and includes biannual inspections to prevent subsidy misuse.
The Economic Times Loss-making MNCs liable to pay tax on India setup
Multinational companies operating in India through various setups will have to pay taxes on earnings generated in India, even if they report global losses. The Delhi High Court ruled that these setups are considered permanent establishments and must be taxed independently of the parent company's overall financial status.
The Economic Times ICAI urges for pause on SA 600 revision, calls NFRA's draft release unfortunate
ICAI is advocating for a pause in the revision process to allow for a thorough review and discussion with all stakeholders involved. “We believe this pause will help ensure that any changes made to SA 600 are in the best interest of the profession and the public,” the ICAI said.
The Economic Times Fed rate cut positive, but may not have big impact on capital inflows: Top FinMin officials
Economic affairs secretary Ajay Seth sought to delink the Fed rate cut from any potential action by the Reserve Bank of India (RBI). The Fed has done what it feels to be the best for the US economy and the RBI will be guided more by the domestic reality, Seth said. Separately, chief economic adviser V Anantha Nageswaran said at an event that much of the Fed action was factored in by investors and its impact on India could be more muted than on other emerging economies, as the domestic market has already been generating a lot of investor interest.
The Economic Times RBI may do what Fed has done with rates. But you need to wait
Fed rate cut: The Reserve Bank of India may consider a rate cut by February 2025, following the US Federal Reserve's recent 50 basis points rate cut. Despite expected inflation spikes, India's CPI inflation is projected to remain within the RBI's target range. Favorable monsoon activity has positively impacted Kharif sowing, surpassing the five-year average.
The Economic Times Adani Group set to acquire 46.64% stake in ITD Cementation India for Rs 5,888.57 crore
The Adani Group is set to acquire a 46.64% stake in ITD Cementation India for Rs 5,888.57 crore to enhance its civil engineering capabilities. This acquisition will trigger an open offer for an additional 26% stake. A formal announcement is expected soon.
The Economic Times There's a trap on India's road to high-income economy status
The Modi govt aims to make India a developed country by 2047, addressing the middle-income trap as a key challenge. Niti Aayog emphasizes the need for a cohesive strategy involving investment, technology adoption, and innovation. Policymakers focus on free trade, global value chains, and infrastructure to boost economic growth.
The Economic Times You cannot have a system which gets hacked: FM Nirmala Sitharaman to banking sector
Finance Minister Nirmala Sitharaman emphasized the crucial role of the banking sector in achieving India's goal of becoming a developed nation by 2047. Speaking at the Bank of Maharashtra's 90th Foundation Day, she highlighted the need for strong support to infrastructure, MSMEs, and digital banking while ensuring robust cybersecurity measures.
The Economic Times RBI lifts ban on IIFL
The Reserve Bank of India has lifted restrictions on IIFL Finance's gold loan business, allowing the company to resume operations. The ban was initially imposed due to supervisory concerns, including deviations in gold purity assessment and breaches in loan-to-value ratio. The lifting of the ban is expected to help recover the company's gold loan book and improve profitability.
The Economic Times EY employee death: Govt investigates allegations of unsafe, exploitative work environment at audit firm
EY employee death: The Labour Ministry has launched an investigation into allegations of an unsafe work environment at Ernst & Young following the death of a 26-year-old Chartered Accountant. EY expressed sadness over Anna Sebastian's passing and pledged to improve workplace conditions. Her family cited excessive workload as a contributing factor.
The Economic Times Escorts Kubota faces ₹22.95 lakh penalty and interest for IGST delay, plans to appeal GST order
The Joint Commissioner of GST, Faridabad, Haryana, has passed an order against Escorts Kubota Limited under the Goods and Services Tax Act, confirming a penalty along with applicable interest due to delayed payment of IGST liability under the reverse charge mechanism, according to the exchange filing
