LIC shares on Friday rallied 7.2% to hit a fresh 52-week high of Rs 820 on BSE after the Finance Ministry granted an extension to the PSU insurer for complying with 25% minimum public shareholding (MPS) norms till 2032. Sebi rules mandate all listed companies to maintain 25% public float but newly-listed companies are granted …
The Finance ministry has taken a serious notice of the recent major issue at UCO Bank and the rising cases of bank frauds in the country. The ministry and the parliamentary panel on ICT have decided to look into and tackle the matter. Financial services secretary Vivek Joshi will hold key consultations on the matter …
New Delhi: The finance ministry has released ₹10,000 crore in urgent assistance to meet unexpected enhanced expenditure under the rural job guarantee scheme until the first batch of supplementary demands for grants is approved by parliament at its next session, a senior official said. The unusual move came after 95% of the FY24 budgetary outlay …
Finance secretary T V Somanathan on Thursday said India will continue to clock the highest growth rate among the top five economies in the world in the foreseeable future and asked Indian diaspora to act as a catalyst and supplement government efforts in making India the biggest opportunity. India is currently the fifth largest economy …
New Delhi: Finance and corporate affairs minister Nirmala Sitharaman Tuesday called for further simplification of official processes to ensure maximum and effective delivery of public services. Consistency in the reform policy, with focus on individual and institutional efficiencies, will come in handy in the delivery of such services, she said at the ‘Chintan Shivir’ deliberations …
The rupee dipping below 83 to a US dollar is not abnormal and the fluctuation in currency rate is not exclusive to the Indian currency, a finance ministry official said, hoping that RBI’s inflation control steps will factor in exchange rate volatility. The rupee hit an all-time intra-day low of 83.16 to a US dollar …