(LiveMint) A panel set up by the Reserve Bank of India (RBI) has recommended that the central bank’s liquidity framework be made flexible enough to adapt to conditions when the system requires liquidity to be in surplus mode. Under the current setup, system liquidity is required to be in a small deficit, which could be an impediment when surplus liquidity is essential. The panel has also asked RBI to institutionalize some of the ad hoc liquidity infusion measures the central bank has adopted over the past few months. This recommendation comes against the backdrop of the liquidity squeeze seen in the aftermath of the Infrastructure…
Author: Aruna Sharma
(FE) Finance minister Nirmala Sitharaman met top executives of private banks and key financial institutions, who told her that demand was visible in rural India and among small borrowers, and that it would pick up further in the upcoming festive season. Addressing reporters after the meeting, the minister said no lender told her that there was any liquidity problem, and if there was any slight shortage, it was in the wholesale segment and not for retail customers. Moreover, appetite for credit remains strong in the services sector. In a rather unusual sight, the media briefing also saw an active participation of…
(AU) प्रधानमंत्री नरेंद्र मोदी संयुक्त राष्ट्र आम सभा के मंच से शुक्रवार को दुनिया को संबोधित करेंगे। प्रधानमंत्री मोदी दुनिया को जम्मू-कश्मीर पर लिए गए सरकार के फैसले की जरूरतों के बारे में बताएंगे और आतंकवाद के खिलाफ दुनिया से एकजुट होने का आह्वान करेंगे। प्रधानमंत्री मोदी के भाषण के बाद पाकिस्तान के प्रधानमंत्री इमरान खान को बोलना है। जम्मू-कश्मीर से अनुच्छेद 370 हटने के बाद से अंतरराष्ट्रीय मंच पर भारत के खिलाफ माहौल बनाने की तमाम नाकाम कोशिशों के बाद एक बार फिर इमरान यूएन के मंच से जहर उगल सकते हैं। हालांकि, इसका उन्हें बहुत फायदा नहीं मिलेगा क्योंकि…
(TH) Indian Oil Corporation Limited (IOCL) is in talks with Hindalco Industries Limited to source aluminium for its proposed one GW (gigawatt) aluminium air battery facility as the State-owned entity looks for an alternative to lithium-ion batteries. This move is in tune with the government’s strategy to facilitate the adoption of electric vehicles (EVs) in India to cut the fuel import bill. Confirming the development, a senior official of Hindalco Industries told, “They have approached us. We are in talks with them. It’s at an initial stage. They are developing it in joint venture with an Israel firm.” Last year, IOCL had signed…
(LiveMint) HDFC Bank in partnership with Indian Oil on Wednesday launched a co-branded fuel card for users from non-metro cities and towns, which will be available on both RuPay and Visa platforms. The card was launched at an event here by IOCL’s Executive Director (Retail Sales) Vigyan Kumar and HDFC Bank’s Country Head, Payments Business and Marketing, Parag Rao. The card offers customers highest rewards and benefits on fuel consumption and will be available on both RuPay and Visa platforms, it was informed on the occasion by the bank and IOC officials. Customers earn reward points known as ‘fuel points’ at over 27,000…
(ET) NTPC, India’s largest power generator, on Wednesday signed a Memorandum of Understanding (MoU) with the Himachal Pradesh (HP) government to set-up two hydro projects totalling 520 megawatt (MW) capacity in the state. The Seli & Miyar hydro electric projects (HEPs), are located in Chenab Basin at Lahaul and Spiti district. While Seli HEP (400 MW) is a run of river project with pondage scheme, Miyar HEP (120 MW) is a run of river project without pondage scheme, on Miyar tributary of the Chenab river. The MoU was signed between Prabodh Saxena, principal secretary (energy), HP, and A K Gupta, director (commercial) NTPC, in the presence of the…
(ET) Senior Oil India Limited (OIL) officials on Monday requested the Arunachal Pradesh government for early issuance of forest clearances (FC) for the identified oil blocks in the state so that environment clearance can be obtained from the central ministry to begin survey and exploration. A team of senior OIL officers led by resident chief executive Pranjit Deka, during a meeting with chief minister Pema Khandu, said that there are seven oil blocks of interest in the state mostly in the eastern parts, which also share boundaries with Assam. “As parts of few of these blocks fall in reserve forest or wildlife sanctuaries, exploration in…
(ET) The central government is mulling to give up management control in three companies including BPCL, Shipping Corporation of India and Container Corporation, ET Now reported quoted agencies. Shares of these companies pared some of their losses following the development. BPCL traded 0.75 per cent down at Rs 458.10, while Container Corporation was down 0.90 per cent at Rs 576. On the other hand, the benchmark BSE Sensex was down 358 points, or 0.92 per cent, at 38,740. Shipping Corporation was at Rs 38.40, up 0.92 per cent against its previous close. “Government has started the stake sale process in BPCL, Shipping Corporation and Concor,” the report…
(LiveMint) Prime Minister Narendra Modi promised to further simplify India’s tax regime, including bringing tax on equity investments in line with global standards, making a strong pitch to global business leaders to invest in India. India will not shy away from taking the toughest decisions, Modi said in New York that was attended by top executives of some of the world’s biggest companies. “We will undertake necessary modifications on a regular basis on tax-related laws and to bring tax on equity investments on a par with global tax regime,” he said. The prime minister may be referring to the abolition of…
(ET) Union home minister Amit Shah will visit Mizoram on October 5 as part of efforts by BJP to reach out to the Northeast on the proposed citizenship amendment bill. His visit will be preceded by that of Himanta Biswa Sarma, Assam finance minister and convenor of the platform of non-Congress parties floated by the BJP — North East Democratic Alliance (NEDA) — on October 1. Shah will address party workers in Mizoram, state BJP president JV Hluna told ET, while other plans for this trip are being worked out. Shah, who visited Guwahati early this month to attend the NEDA…