Sebi allows REITs, InvITs to raise funds via debt securities

Securities and Exchange Board of India (Sebi) on Monday said it has allowed Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to raise funds by issuing debt securities.

"In order to facilitate growth of InvITs and REITs, Sebi Board has approved allowing them to raise debt capital by issuing debt securities. It has also introduced the concept of s

PE/VC exits at record high in August at $1.9bn; may touch $10b

Inflows and outflows from private equity and venture capital investors have hit an all-time high in August at USD 5.4 billion and USD1.9 billion, respectively, said a report. So far in 2017, overall PE/VC exits are at an all-time high of USD7.1 billion, surpassing the previous record of USD 6.7 billion for the full year of 2016, said the report by EY. PE/VC investments in August stood at USD 5.

Global demand to boost Asia`s structural reforms: Moody`s

Moody's Investors Service, a global rating agency, has said that the strengthening in global demand since the end of last year has buoyed Asia Pacific's trade-reliant economies, but that faster export growth has yet to feed into a broader and more sustainable acceleration in output growth.

The agency said that support to sovereign credit profiles will be strongest where the ex

Digital payment bound to pick up with new technology: Finance Minister

Finance Minister Arun Jaitley today expressed hope that digital payment is going to pick up momentum with more advanced technology coming into the market. A lot of people went in for digitisation in terms of mode of payment more out of compulsion rather than finding it a more convenient method to transact, but that compulsion created a habit for many, he said after the launch of a mobile app fo

Jaitley lists three gains from note ban

Increase in volume of digital transactions, widening of tax base and squeezed circulation of high denomination currency were the real measures of success of demonetisation, Finance Minister Arun Jaitley said on Monday.

The success of the November 2016 note ban came under attack after the Reserve Bank of India (RBI) revealed that almost 99 per cent of the banned currency had returned t

RBI sets rupee reference rate at against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 64.0371 against the US dollar and 76.4923 for the euro. The corresponding rates were 64.0774 and 76.3995, as on Friday.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 87.0841 and 57.57 per 100 yens, respectively, based on reference rates for the dollar and cross

RBI likely to keep policy rate on hold till fiscal-end: Report

The Reserve Bank is expected to pause rate cuts for the rest of 2017-18 as retail inflation is likely to tread higher towards 4.7 per cent by March, says a Kotak Institutional Equities report as per the PTI. According to the report, both CPI and WPI inflation have bottomed out and retail inflation is inching towards 4.7 per cent and wholesale towards 3.6 per cent by March 2018. It further noted

Exports rise 10.29% in August ; trade deficit swells to $11.64bn

India's exports recorded a double digit growth of 10.29 per cent after a gap of three months to USD 23.81 billion in August, mainly on account of rise in shipments of chemicals, petroleum and engineering products, government data showed as per the PTI report. Imports too rose by 21.02 per cent to USD 35.46 billion in August from USD 29.3 billion in the year-ago month, according to the data

India needs comprehensive framework on various issues

Foreign policy expert C Raja Mohan suggested a comprehensive framework for India on various issues in the current global scenario given that many Western countries are "taking a step back" on globalisation, reported PTI. Delivering the inaugural key note address at the 3rd two-day Pune Dialogue on National Security (PDNS)- 2017, Raja Mohan mainly focused on the changing world order an

FPIs pull out Rs 3,000 cr from stocks in September so far

Continuing their selling spree, overseas investors have taken out over Rs 3,000 crore from equities this month so far amid "lacklustre earnings season" and geopolitical headwinds. The net outflow by foreign portfolio investors (FPIs) follows a withdrawal of Rs 12,770 crore from the stock market in August. Prior to that, they had pumped in over Rs 62,000 crore in the past six months.

GSTN reopens composition scheme for taxpayers: Reports

The GST Network (GSTN) has said that it has reopened the facility for small taxpayers with a turnover of up to Rs 75 lakh to opt for composition scheme. As per reports, such small taxpayers will have time till September 30 to opt for the scheme, which offers easy compliance for business as returns are to be filed only quarterly.

Taxpayers were earlier given time until August 16 to opt

India`s external debt dips on reduced commercial borrowings

A report has said that India's external debt stood reduced by 2.7 per cent at USD 471.9 billion by March-end as compared to March 2016 due to reduced commercial borrowings and NRI deposits. Commenting on the issue, a Finance Ministry Official told the media, "India's external debt stock stood at $471.9 billion at end-March 2017, decreasing by $13.1 billion (2.7 per cent) over $485

CAD seen at 1.2-1.3% of GDP in FY18: Icra

India's current account deficit (CAD), which widened to a four-year high in April-June, is likely to touch USD 30-32 billion, or 1.2-1.3 per cent of GDP by March-end 2018, says a report as per the PTI. CAD increased to USD 14.3 billion, or 2.4 per cent of gross domestic product (GDP), in the first quarter of the current fiscal from USD 0.4 billion in the year ago period. In FY17, CAD was at

India likely to be 3rd largest economy by 2028: HSBC report

India is likely to overtake Japan and Germany to become the third largest economy in the next 10 years but needs to be consistent in reforms and focus more on the social sector, British brokerage HSBC said as per the PTI report. Social capital is "insufficient" in the country and spending on aspects like health and education "is not just desirable for its (India's) own sake,

Bureaucrats should learn to say 'no minister' when needed: Minister

Top bureaucrats should learn to articulate their difference of opinion with their political bosses whenever they think it is necessary, Union Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh said here on Saturday.

"The top bureaucracy should desist from saying ‘yes minister' all the time just to remain in the good books of their political b

India becomes fastest growing market for Brand USA, too

The Indian outbound traveller is now a much-coveted commodity around the world, as the country's booming middle class seeks new destinations and emerges as a key market.

The Indian market has set a new record as 1.17 million tourists visited the US last year, according to Brand USA, the nation's first public-private partnership to promote the United States as a travel destinat

TN to revise schedule of rates for various works due to GST

Tamil Nadu's Public Works Department and Highways Department are in the process of revising their schedule of rates segregating the taxes subsumed under the new Goods and Services Tax (GST) regime form the schedule of rates, an official statement said.

In an order issued here, the Finance Department said: "The Government is also examining the full implications of the GST on w

GoM admits to glitches in network delaying GST filings

echnical glitches and procedural problems galore on the GST Network have delayed payments and filing of returns under the new Goods and Services Tax (GST) regime, a Group of Ministers (GoM) admitted on Saturday.

"Technical glitches, procedural problems and absence of some forms on the network portal are causing delays in making payments and filing of returns by traders and dealer

No further extension in filing of GST returns: Hasmukh Adhia

The Indian Government has said that there will be no further extension in filing of returns under GST after December and has advised the taxpayers to file them in advance and not wait for the last day. Commenting on the issue, Revenue Secretary Hasmukh Adhia told the media, "We have kept long deadlines for GST filing. For at least six months the taxpayers have to file their own assessment.

India lifts ban on export of few varieties of pulses - government statement

MUMBAI  - India, the world's biggest producer of pulses, has allowed exports of a few varieties of pulses, a government statement said on Friday.

They are red gram, black gram and green gram, locally known as arhar, urad and moong.

India banned exports of pulses a few years ago when domestic prices jumped due to a production shortfall.


Small creditors use India`s new bankruptcy rules to put the squeeze on big players

By Devidutta Tripathy and Abhirup Roy

MUMBAI - In late June, one of India's top wind power equipment makers, Inox Wind Ltd, was dragged into insolvency courts by a logistics handler over unpaid dues of $88,000. Two weeks on, the matter was settled, with dues paid off.

The case illustrates how small creditors and vendors, previously at the mercy of large

June quarter current account deficit widens to four-year high as imports surge

By Suvashree Choudhury

MUMBAI - India's April-June current account deficit widened to its highest in four years as imports surged, but strong capital inflows comfortably financed the gap, data from the Reserve Bank of India showed on Friday.

The current account deficit widened to 2.4 percent of gross domestic product, or $14.3 billion, as imports pushed

India`s external debt falls by 2.7% to $471.9 bn by March

India's external debt stood reduced by 2.7 per cent at $471.9 billion by March-end as compared to March 2016 due to reduced commercial borrowings and NRI deposits, a Finance Ministry report said on Friday.

"India's external debt stock stood at $471.9 billion at end-March 2017, decreasing by $13.1 billion (2.7 per cent) over $485 billion at end-March 2016. The decline in e

India, Japan sign $76 mn loan deal

India on Friday signed a loan deal worth $76 million with Japan International Cooperation Agency (JICA) for a project to upgrade the environment management plan at Alang-Sosiya ship recycling yards in Gujarat, an official statement said.

The total cost of the project will be $111 million, out of which $76 million will be provided as soft loan from JICA, a statement from the Shipping M

India to see more investments coming from Japan: BMI Research

The Japanese investment in India will continue to rise as the East Asian country is keen to expand offshore investments to generate opportunities for its construction and engineering firms, according to BMI Research, reported PTI. Prime Minister Narendra Modi along with his Japanese counterpart Shinzo Abe, who was on a two-day visit to India, laid the foundation stone for country's first bu