FPIs pour Rs 9,500 cr in capital markets in February so far

Overseas investors have pumped in over Rs 9,500 crore (USD 1.4 billion) into the country's capital markets this month so far, enthused by clarity on FPI taxation.

The latest inflow followed a net pullout of Rs 80,310 crore from equity and debt together in the past four months (October-January). Prior to that, FPIs had invested over Rs 20,000 crore in the capital market in Septembe

Gold imports shrink 32.7% to $19.74 bn in April-January

India's gold imports fell by about 32.7 per cent to USD 19.74 billion during the April-January period of this fiscal, which is expected to keep a lid on the current account deficit, reported PTI. Total imports of the precious metal in the corresponding period of 2015-16 stood at USD 29.31 billion.

According to industry experts, softening prices of the precious metal in the domesti

GST Council clears law to compensate states for revenue loss

Inching towards rolling out of GST, the GST Council approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to next meeting, reported PTI.

The all-powerful GST Council will meet again on March 4 and 5to approve the legally vetted draft of the supporting legislations for Central GST (C-GST

GST Council has cleared draft compensation law: Jaitley

Finance Minister Arun Jaitley on Saturday said the Goods and Services Tax (GST) Council has cleared the draft compensation law -- one of the four enabling laws under the GST constitutional amendment - and hoped the remaining ones will be cleared in the next meeting ahead of the second half of Parliament's Budget Session.

"The GST's compensation law states that if any stat

'Neutral' stance allows us to go any way on RBI rates: Urjit Patel

RBI Governor Urjit Patel said on Friday the change to "neutral" stance at the bank's monetary policy review last week allows more flexibility to go either way on rates, as compared with an earlier "accommodative" one on inflation outlook.

The Reserve Bank of India at its monetary policy review last week maintained its key policy rate unchanged at 6.25 per cent.

Proceeding at a fast pace towards remonetisation: Urjit Patel

Reserve Bank of India (RBI) Governor Urjit Patel on Friday said the central bank was moving at a fast pace towards remonetisation, having restored normalcy over a short period as the printing of the currency was going on at full capacity from day one of demonetisation.

"I think that in terms of remonetisation, we are proceeding at a pace that is very quick. Therefore we have mana

Dry ATMs rebut Jaitley's claim of swift recovery post note ban

Despite the claim of Union Finance Minister Arun Jaitley that printing of new money was done efficiently after the November note ban and things were "normalised" in a few weeks, on Friday many ATMs here were found gasping for cash.

As IANS went around the ATMs in the national capital, it found that the situation had only marginally improved from what it was in the thick of t

India may soon allow institutions to trade commodity futures - SEBI chief

By Abhirup Roy and Rajendra Jadhav

MUMBAI - India could start allowing institutional investors to trade in its annual $1 trillion commodity futures market as soon as in a month, the head of the country's capital markets regulator said on Friday, as the government targets deepening of the market.

Asia's third biggest economy has allowed futures t

Cash situation to become normal in March: Nomura

The impact of demonetisation is still visible and cash levels in the economy are not expected to be sufficient until March, which may keep trade volumes depressed for the next two months, says a Nomura report as per the PTI. As per data released by the commerce ministry, growth in exports in January was lower than 5.72 per cent in December.

The moderation in India's exports volume

Normalcy in currency operations restored: Arun Jaitley

Finance Minister Arun Jaitley said normalcy has been restored within few weeks of the unprecedented decision to recall 86 per cent of the currency in circulation and there is no shortage of notes in market, reported PTI.

Currency note printing presses of Reserve Bank of India as well as Security Printing and Minting Corporation of India Ltd (SPMCIL) have worked without a break to remo

BHEL, Idea to move out of Nifty 50 from March 31

State-run Bhel and telecom major Idea Cellular will move out of National Stock Exchange's Nifty 50 index from March 31. Indiabulls Housing Finance and Indian Oil Corporation will be included in the index in their place.

The changes, announced by Indian Index Services and Product, an arm of NSE, will be effective from March 31, 2017. Apart from Nifty 50, the exchange has made chang

Government restored normalcy post-note ban in a few weeks: Jaitley

Applauding the security printing presses for their efficiency, Finance Minister Arun Jaitley on Friday said that while people were estimating that it will take a year or seven months for printing adequate number of notes, the situation was normalised in a few weeks.

"People used to guess it will take a year or seven months for remonetisation. But in a few weeks things were normal

India still keen to buy Westinghouse reactors despite Toshiba meltdown

By Douglas Busvine

NEW DELHI - India does not expect fallout from the financial meltdown at Toshiba Corp to halt plans to buy six nuclear reactors from the Japanese company's U.S. nuclear unit Westinghouse, a senior government official told Reuters on Friday.

Toshiba this week booked a $6.3 billion charge related to huge cost overruns at Westinghous

Sebi permits foreign investors to buy shares via primary markets

Markets regulator Sebi has allowed foreign investors to acquire shares through primary markets in depositories and clearing corporations. Prior to this, foreign investors could acquire shares of depositories and clearing corporations only through secondary market.

The move comes at a time when Central Depository Services Limited (CDSL) is preparing to launch its initial public offerin

EPFO pensioners can give digital life certificates till March 31

Retirement fund body EPFO has extended the deadline for submitting digital life certificates by its over 50 lakh pensioners till March to help them get their pension accounts linked with Aadhaar.

Earlier in January, Employees' Provident Fund Organisation (EPFO) had decided to extend the date of submission through Jeevan Pramaan Patra programme to February 28. This was done to make

Jharkhand can exceed national growth average by 4-5%: Finance Minister

Finance Minister Arun Jaitley has said that BJP-led Jharkhand can now exceed the national economic growth average by 4-5 per cent. Commenting on the issue, Finance Minister Arun Jaitley told the media, "Jharkhand has a potential today with its natural resources, and potential for investment to grow at least 4-5 per cent ahead of the national average.

Today, it is marginally 1 per

Remonetisation situation almost normal now: Finance Minister

The Indian Government has said that the remonetisation situation with regard to replenishing the scrapped currency is almost normal now and the Reserve Bank is monitoring the supply on a daily basis. Commenting on the issue, Finance Minister Arun Jaitley told the media, "As far as remonetisation is concerned, the situation is almost normal and RBI is monitoring the currency supply position

RBI allows multilateral FIs to invest in masala bonds

Reserve Bank of India (RBI) permitted multilateral financial institutions to invest in rupee denominated bonds popularly known as 'masala bonds' issued by Indian entities, reported PTI.

"In order to provide more choices of investors to Indian entities issuing rupee denominated bonds abroad, it has been decided to also permit multilateral and regional financial institution

RBI proposes lower MDR from April 1 to keep digital-pay momentum

RBI proposed to drastically cut MDR charges on debit card payments from April 1 with a view to maintain momentum of digital transactions post note ban, especially among small merchants, reported PTI.

For small merchants with annual turnover of Rs 20 lakh and special category merchants, like utilities, insurance, mutual funds, educational institutions and government hospitals, the MDR

Note ban hit microfinance loans in Q3 by 26%: MFIN

The Indian microfinance industry recorded a drop of 26 per cent in the number of loans disbursed and a 16 per cent decline in loan amounts disbursed during the third quarter ended December, as compared to the corresponding quarter of the last fiscal, the Microfinance Institutions Network (MFIN) said on Thursday.

"The pulling out of the High-Value Currency Notes (HCVNs) from circu

Infusion of Rs 10,000 cr for PSBs enough for FY 18: Vinod Rai

Banks Board Bureau (BBB) chief and ex-CAG Vinod Rai has said that capital infusion of Rs 10,000 crore for public sector banks earmarked for 2017-18 may be enough and government may also go for rights issue to inject more money.

Commenting on the issue, Banks Board Bureau (BBB) chief and ex-CAG Vinod Rai told the media, "It (Rs 10,000 crore capital infusion) should be enough, beca

RBI governor says looking beyond muted headline inflation - report

MUMBAI - The RBI governor said it needs to look beyond recent muted headline inflation figures and focus on trends in core inflation, which excludes more volatile food and fuel prices.

Recent declines in vegetable prices could be short lived, Urjit Patel said in an interview with CNBC TV18.

Falling food prices helped cool India's consumer inflation

Under enigmatic Patel, Indians failing to read central bank policy

By Suvashree Choudhury and Rafael Nam

MUMBAI - Denny Jose, a small-town caterer in Kerala, was closely watching the RBI meeting last week.

Newspapers and markets were forecasting the Reserve Bank of India would cut its key rate by a quarter of a percentage point. But the RBI held rates and moved to a "neutral" policy stance, signaling an end t

Livestock products increased during rainy season: Government

A day after forecasting "record production" of foodgrain this year, the Union Ministry of Agriculture on Thursday said that production of livestock products -- milk, eggs and meat -- increased during the rainy season of 2016-17, though wool production slipped.

According to the Integrated Sample Survey, total milk production during the rainy season -- between July and Oc