Ankishinde

Reliance Industries Ltd. on Sunday led Indian corporates in announcing their intent to invest over INR 8.5 trillion in Gujarat over the coming five years.
Speaking at the two-day Vibrant Gujarat Regional Conclave, Kutch and Saurashtra region, being held at Rajkot, Reliance Industries Ltd. Chairman Mukesh Ambani on Sunday announced that the group plans to invest an additional INR 7 trillion over the next five years. He said the investment would be across clean energy, renewable power, artificial intelligence-ready data centers, digital infrastructure, healthcare, education and sports faciliti

The Competition Commission of India has approved the acquisition of certain warrants of Federal Bank Ltd. by Asia II Topco XIII Pte. Ltd., which is backed by global asset manager Blackstone. Once the warrants are fully exercised, Asia Topco will hold 9.99% of paid-up share capital of Federal Bank, the regulator said Tuesday.
Federal Bank's board had in October approved the preferential issue of 272.97 million warrants worth INR 61.97 billion to Asia II Topco XIII. Federal Bank has approved the grant of a special right to Asia II Topco XIII to nominate one retiring non-executive director to t

The Reserve Bank of India will buy INR 2 trillion of government bonds through open market operation auctions in four tranches across December and January, it said in a release Tuesday. The central bank will also conduct a three-year, dollar-rupee buy-sell swap auction on Jan. 13 for $10 billion.
The RBI will buy gilts worth INR 500 billion each on Dec. 29, Jan. 5, Jan. 12 and Jan. 22. Detailed instructions for each auction will be issued separately, it said.

“The Reserve Bank will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure order

The government's continued focus on macroeconomic fundamentals and economic reforms is the key to keeping the economy on a strong growth trajectory amidst a fast-changing global environment, according to a paper authored by Reserve Bank of India staff. The assessment comes after India's GDP grew at a six-quarter-high pace of 8.2% in Jul-Sept despite global uncertainties.Continued focus on macroeconomic fundamentals and economic reforms should help unlock efficiencies and productivity gains to firmly keep the economy on the high-growth trajectory amidst a fast-changing global environment," the

Futures contracts of gold and silver on COMEX hit fresh lifetime highs on Tuesday, supported by a weak dollar and increased safe-haven demand for the precious metal amid rising geopolitical tensions as the US tried to seize more Venezuelan oil tankers.

US President Donald Trump on Monday warned Venezuelan President Nicolas Maduro to leave power, saying "it would be smart" of him not to "play tough". The latest threats come as the US Coast Guard continued to chase a third oil tanker that it described as part of a "dark fleet" that Venezuela uses to evade US sanctions.

Asked if the goal w

Larsen & Toubro Ltd.’s onshore hydrocarbon business has won a major order from Bharat Petroleum Corp. Ltd., the former said in an exchange filing Tuesday. L&T classifies projects of INR 50 billion-INR 100 billion as ‘major’
As part of the contract, L&T will carry out engineering, procurement, and construction work at BPCL’s refinery in Bina, Madhya Pradesh. The work relates to a linear low-density and high-density polyethylene swing unit with two trains of 575,000 tonnes per annum each. The project will be executed on a lump sum turnkey basis and it will be India’s largest LLDPE/HDPE swing u

A low CPI inflation reading and expectations of GDP growth slowing down ahead allowed the Reserve Bank of India's Monetary Policy Committee to lower interest rates in December, minutes of the committee's Dec. 3-5 meeting, released Friday, showed. MPC members gave little forward guidance in the minutes and said the committee will remain data dependent going ahead.

On Dec. 5, the MPC in a unanimous decision lowered the policy repo rate by 25 basis points to 5.25%. The committee also retained the 'neutral' policy stance, but external member Ram Singh was of the view that the stance should be

The Hyderabad bench of the National Company Law Tribunal Friday declared Deccan Chronicle Holdings Ltd.'s former chairman T.V. Reddy bankrupt in personal guarantor insolvency proceedings filed by L&T Finance Ltd. on dues of INR 756.06 million. The tribunal appointed Renuka Devi Rangaswamy as Reddy's bankruptcy trustee to carry out functions as per the Insolvency and Bankruptcy Code, 2016. Reddy was the personal guarantor for financial facilities provided to Deccan Chronicle by L&T Finance.there being no repayment plan submitted by the personal guarantor or any material indicating resolution o

Bank of Baroda has received $29.39 million from the voluntary liquidation of India International Bank Malaysia, in which the public sector lender held 40% stake. we hereby inform that Bank has received an amount of USD 29,391,204.52 from the liquidator towards the interim distribution of capital repatriation on account of Member’s Voluntary Liquidation (MVL) of India International Bank Malaysia (IIBMB), which is a joint venture of three banks namely Bank of Baroda, Union Bank of India and Indian Overseas Bank, in which the share of Bank of Baroda is 40,” the bank said in an exchange filing.

The Delhi High Court Friday issued a notice to the customs department on a plea by InterGlobe Aviation Ltd. seeking refund of INR 9 billion paid as customs duty on reimport of aircraft or aircraft parts into India after their repair outside the country. The high court will hear InterGlobe Aviation's plea against the customs department on Apr. 8.
InterGlobe Aviation argued that the customs duty levied on these reimports was unconstitutional as it amounted to a double levy on the same transaction. The parent company of IndiGo said that it had paid the basic customs duty without any dispute at

The government will likely dilute its stake in three public sector banks--Central Bank of India, UCO Bank, and Punjab & Sind Bank--soon through the offer-for-sale route, a senior finance ministry official said. The move will help these banks meet the Securities and Exchange Board of India's minimum public shareholding norm.

Government will sell stake in these banks over the next few weeks, the official told Informist, without divulging more details.

SEBI rules require all listed companies to have a minimum public float of 25% and currently, four of the 12 public sector banks do not comp

The Securities and Exchange Board of India Wednesday eased regulations of credit rating agencies for ease of doing business. The market regulator has allowed such agencies to carry out rating of financial instruments falling under the purview of another regulator even in the absence of any rating guidelines by the respective regulator.
Currently, even though such agencies rate bank loans under the guidelines of the Reserve Bank of India, they are constrained from rating unlisted debt instruments due to lack of explicit rating guidelines, SEBI said in a press release. "Enabling these ratings

The Securities and Exchange Board of India's board Wednesday permitted debt issuers to offer incentives in public issues to some investors to increase the participation of retail investors. This step is also expected to encourage public issuance of debt securities, the regulator said in a press release after its board meeting.With a view to enhance participation of retail investors in corporate debt market and also to encourage public issuances in the debt market, the Board considered and approved a proposal for amending SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021

The Securities and Exchange Board of India Wednesday has relaxed the threshold for identifying high-value debt listed entities to those having outstanding non-convertible debt of INR 50 billion from current INR 10 billion or more, with the aim to facilitate ease of doing business. “This will make it easier for regulated entities like NBFCs (non-banking finance companies), HFCs (housing finance companies), ARCs (asset reconstruction companies), insurance companies and REITS (real estate investment trusts) to raise funds through corporate bond issuance,” the regulator said in a press release af

The chief negotiators from India and the US have concluded their discussions on the proposed Bilateral Trade Agreement, a commerce ministry official said. The remaining issues now require intervention at the ministerial level, including the commerce minister and the prime minister, the official added.
While the official did not specify the subjects that need ministerial intervention, he said Washington continues to press for concessions on certain crops under the trade deal. "Their demand has mellowed, but they have asked us to consider granting market access for at least some crops," the o

The Lower House of Parliament Tuesday passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, which will help revamp India's insurance framework, with a host of changes to the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the IRDAI Act, 1999, in order to modernise the sector, widen and deepen coverage and improve regulatory oversight. Most importantly, the bill makes way for raising the foreign direct investment limit in the insurance sector to 100% from 74%, as proposed in the Budget for 2025-26 (Apr-Mar).

The one-day interbank call money rate Tuesday rose to 5.70%, above the Reserve Bank of India’s Marginal Standing Facility rate of 5.50%, the highest since Oct. 29, which was before the RBI cut the repo rate by 25 basis points to 5.25%. The overnight triparty repo rate also hit a high of 5.60% for the second consecutive day in a row Tuesday. Money market rates have surged despite the central bank infusing transient liquidity of around INR 1.52 trillion so far this week. Outflows for tax payments, credit disbursements, and an unexpected fall in the rupee past the key 91 per dollar mark has push

India and the Eurasian Economic Union will hold the next round of free trade agreement talks in February, the commerce ministry said Monday. Russia is India's largest trading partner in the Eurasian Economic Union, which also includes Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
The proposed free trade agreement is expected to expand market access for Indian exporters, support diversification into new sectors and geographies, enhance competitiveness against non-market economies, and deliver significant benefits to micro, small and medium enterprises. India had a total trade of $69 billion w

The Delhi bench of the National Company Law Tribunal has approved Walmart-owned e-commerce giant Flipkart's scheme of arrangement to shift its domicile from Singapore to India. This came ahead of Flipkart's reported plan to launch an initial public offering in India next year.
The tribunal approved the merger of Singapore entities Flipkart Health Pvt. Ltd., Quickroutes International Pvt. Ltd., Flipkart Marketplace Pvt. Ltd., F.K. Myntra Holdings Pvt. Ltd., Flipkart Investments Pvt. Ltd., Klick2Shop Logistics Services International Pvt. Ltd. and Flippay Pvt. Ltd. with India company Flipkart I

The Lok Sabha Monday passed the first batch of Supplementary Demands for Grants for 2025–26 (Apr-Mar), giving permission to the government for net additional spending of INR 414.55 billion during the year. On a gross basis, the government had sought permission for additional spending of INR 1.32 trillion.
The government tabled the first batch of Supplementary Demands for Grants for FY26 in Parliament on Dec. 1, seeking slightly lower funds for additional spending compared with a year ago. In FY25, it had sought net INR 441.43 billion in the first batch.