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Infibeam Avenues rises on incorporating wholly owned subsidiary Infibeam Avenues is currently trading at Rs. 30.68, up by 0.22 points or 0.72% from its previous closing of Rs. 30.46 on the BSE. The scrip opened at Rs. 30.59 and has touched a high and low of Rs. 30.95 and Rs. 30.50 respectively. So far 576528 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 42.50 on 11-Mar-2024 and a 52 week low of Rs. 14.68 on 06-Sep-2023. Last one week high and low of the scrip stood at Rs. ...
Infibeam Avenues rises on incorporating wholly owned subsidiary
Infibeam Avenues rises on incorporating wholly owned subsidiary
Source: Accord Fintech
2024-09-03 12:11:03 pm
Punjab National Bank's Q1 net profit surges by 159 per cent to Rs 3,252 crore Government-owned Punjab National Bank (PNB) on Saturday reported a 159 per cent surge in its net profit to Rs 3,252 crore for the April-June quarter of 2024.25 compared to the corresponding figure of Rs 1,255 crore in the same quarter of 2023-24.  The public sector bank's net interest income (NII) during the quarter rose by 10.23 per cent to Rs 10,476 crore from Rs 9,504 crore in the same period last year, according to a filing with the stock exchanges. PNB also recorded an imp...
Punjab National Bank's Q1 net profit surges by 159 per cent to Rs 3,252 crore
Punjab National Bank's Q1 net profit surges by 159 per cent to Rs 3,252 crore
Source: IANS
2024-07-27 05:52:14 pm
IREDA sets up subsidiary in GIFT City to mobilise global funds for green projects Indian Renewable Energy Development Agency Ltd. (IREDA) has incorporated a wholly owned subsidiary in the International Financial Services Centre (IFSC) located in Gujarat's GIFT City to extend its global reach for securing funds at competitive rates to boost green projects in the country, the Ministry of Renewable Energy said on Thursday. The subsidiary, IREDA Global Green Energy Finance IFSC Limited, "not only positions IREDA to extend its global reach but also acts as an offsho...
IREDA sets up subsidiary in GIFT City to mobilise global funds for green projects
IREDA sets up subsidiary in GIFT City to mobilise global funds for green projects
Source: IANS
2024-05-10 10:18:58 am
RBI eases rules on hedging of gold price risk in overseas markets  The RBI on Monday eased rules to allow resident entities to hedge their exposures to the price risk of gold using the OTC derivatives in the International Financial Services Centre (IFSC) in addition to the derivatives on the exchanges in the IFSC. Resident entities such as banks were permitted to hedge their exposure to the price risk of gold on the exchanges in the IFSC that are recognised by the International Financial Services Centres Authority (IFSCA), and the new directive prov...
RBI eases rules on hedging of gold price risk in overseas markets
RBI eases rules on hedging of gold price risk in overseas markets
Source: IANS
2024-04-16 09:31:02 am
Monetary Policy Review: April 2024 By HDFC Asset Management Co Ltd The Monetary Policy Committee (MPC) decided to keep the policy rate and stance unchanged, with a majority vote of 5 to 1. Thus, repo rate was maintained at 6.5% and stance remained focussed on “withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth”. Consequently, SDF, MSF and CRR rates were also kept unchanged at 6.25%, 6.75% and 4.5% respectively. Same as last meeting in Feb’24, one of the external MPC member voted ...
Monetary Policy Review: April 2024 By HDFC Asset Management Co Ltd
Monetary Policy Review: April 2024 By HDFC Asset Management Co Ltd
Source: HDFC Asset Management Co Ltd
2024-04-07 05:41:08 pm
RBI to launch new NRI scheme for Sovereign Green Bonds in IFSC With a view to facilitating wider non-resident participation in Sovereign Green Bonds, a scheme for investment and trading in these Bonds in the IFSC will be notified shortly, RBI Governor Shaktikanta Das announced on Friday. He also said that the RBI would launch a mobile app for accessing the Retail Direct portal to widen the reach of the RBI Retail Direct Scheme which was launched in November 2021. This will be of greater convenience to retail investors and deepen the G-sec market. I...
RBI to launch new NRI scheme for Sovereign Green Bonds in IFSC
RBI to launch new NRI scheme for Sovereign Green Bonds in IFSC
Source: IANS
2024-04-05 12:04:58 pm
Axis Bank soars on introducing digital US dollar FD for NRI customers Axis Bank is currently trading at Rs. 1042.55, up by 8.55 points or 0.83% from its previous closing of Rs. 1034.00 on the BSE. The scrip opened at Rs. 1029.75 and has touched a high and low of Rs. 1044.00 and Rs. 1027.80 respectively. So far 5042006 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1151.50 on 05-Dec-2023 and a 52 week low of Rs. 826.60 on 28-Mar-2023. Last one week high and low of the scrip stood ...
Axis Bank soars on introducing digital US dollar FD for NRI customers
Axis Bank soars on introducing digital US dollar FD for NRI customers
Source: Accord Fintech
2024-03-26 03:09:31 pm
With branch in GIFT City, Star Health to attract inward reinsurance, offer NRIs risk cover Standalone health insurer Star Health and Allied Insurance Company Ltd on Monday said it will offer non-resident Indian (NRI) focused insurance and also attract foreign inward reinsurance with its branch in the International Financial Services Centre, GIFT City, Gujarat from next fiscal. The company said the GIFT City branch will start its operations by the end of this month. "Star Health Insurance will also be able to attract foreign inward business as a reinsurer. The company wil...
With branch in GIFT City, Star Health to attract inward reinsurance, offer NRIs risk cover
With branch in GIFT City, Star Health to attract inward reinsurance, offer NRIs risk cover
Source: IANS
2024-03-19 09:49:09 am
Government plans to simplify, digitalise KYC process Finance Minister Nirmala Sitharaman chaired the meeting of the Financial Stability and Development Council (FSDC) on Wednesday which discussed the issues related to India’s macro financial stability and the preparedness to deal with them. The FSDC also discussed plans to formulate a strategy to simplify and digitalise the KYC process in the financial sector. Prescribing uniform KYC norms and inter-usability of KYC records across the financial sector are on the anvil, according to a F...
Government plans to simplify, digitalise KYC process
Government plans to simplify, digitalise KYC process
Source: IANS
2024-02-21 05:49:33 pm
RBI allows Indian bank branches in GIFT-IFSC to trade on international bullion exchange The Reserve Bank of India (RBI) on Friday issued a circular allowing the branches of Indian banks in GIFT-IFSC to act as a Trading Member or Trading and Clearing Member of International Bullion Exchange IFSC Ltd (IIBX). The RBI said Indian banks authorised to import gold or silver will act as Special Category Client (SCC) of the International Bullion Exchange. The RBI circular also stated that Trading Member/Trading and Clearing Member (TM/TCM) of IIBX shall execute trades only on behal...
RBI allows Indian bank branches in GIFT-IFSC to trade on international bullion exchange
RBI allows Indian bank branches in GIFT-IFSC to trade on international bullion exchange
Source: IANS
2024-02-10 09:44:35 am
Adani Ports surges after its arm incorporates wholly owned subsidiary Adani Ports and Special Economic Zone is currently trading at Rs. 1255.40, up by 9.80 points or 0.79% from its previous closing of Rs. 1245.60 on the BSE. The scrip opened at Rs. 1254.85 and has touched a high and low of Rs. 1268.60 and Rs. 1231.75 respectively. So far 213529 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1290.80 on 05-Feb-2024 and a 52 week low of Rs. 533.65 on 23-Feb-2023. Last one week high ...
Adani Ports surges after its arm incorporates wholly owned subsidiary
Adani Ports surges after its arm incorporates wholly owned subsidiary
Source: Accord Fintech
2024-02-09 12:33:51 pm
Indian economy transformed from `fragile five` to `top five`: White Paper Comparing the performance of the 10-year rule of the Narendra Modi government with that of the erstwhile UPA regime, the White Paper on Indian Economy tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman highlights the fact that in 2014, India was among the 'fragile five' economies, but now figures among the 'top five' economies, making the third highest contribution to global growth every year. “When the NDA government took over the reins in 2014, the econo...
Indian economy transformed from `fragile five` to `top five`: White Paper
Indian economy transformed from `fragile five` to `top five`: White Paper
Source: IANS
2024-02-09 09:16:01 am
RBI allows hedging of gold price risk in IFSC The Reserve Bank of India (RBI) has decided to allow hedging of gold price risk in the Over the Counter (OTC) Market in the International Financial Services Centre (IFSC). The step has been taken with a view to providing flexibility to resident entities to hedge their exposures to gold price risk efficiently, the RBI said on Thursday. Resident entities were permitted, in December 2022, to access recognised exchanges in the International Financial Services Centre (IFSC). The hedging faci...
RBI allows hedging of gold price risk in IFSC
RBI allows hedging of gold price risk in IFSC
Source: IANS
2024-02-08 12:42:02 pm
Tax benefits for startups, sovereign wealth & pension funds extended to March 2025 In a respite for the startup ecosystem, the Centre on Thursday announced to extend tax benefits for startups and investments made by sovereign wealth and pension funds to March 2025. Certain tax benefits to startups and investments made by sovereign wealth or pension funds as also tax exemption on certain incomes of some International Financial Services Centre (IFSC) units are expiring on March 31 this year. “To provide continuity, I propose to extend the date to 31.3.2025,”...
Tax benefits for startups, sovereign wealth & pension funds extended to March 2025
Tax benefits for startups, sovereign wealth & pension funds extended to March 2025
Source: IANS
2024-02-01 02:33:37 pm
India committee recommends route to direct listing at GIFT city - document  A committee to suggest rules for direct equity listing at India's international financial centre (IFSC) in GIFT city has recommended depositories in the IFSC and the rest of the county be connected to enable this. A connection between the depositories would enable the issue of new equity shares directly and allow transfer of existing equity shares, its report released late on Wednesday said. The IFSC operates as a separate financial jurisdiction with different rules from the b...
India committee recommends route to direct listing at GIFT city - document
India committee recommends route to direct listing at GIFT city - document
Source: Reuters
2023-12-21 01:43:42 pm
India aiming to achieve $2 trillion export target by 2030: Piyush Goyal Union minister Piyush Goyal has said that India is aiming to achieve the $2 trillion export target by 2030 and in the process it is moving this industry out of the government support to make it self-sustaining and cost competitive. Addressing Infinity Forum 2.0 virtually at Gujarat Finance Tec-City (GIFT City), he said the International Financial Services Centre (IFSC) at GIFT City has become a lynchpin in propelling India's export-led growth. He noted that GIFT City will play a pivotal r...
India aiming to achieve $2 trillion export target by 2030: Piyush Goyal
India aiming to achieve $2 trillion export target by 2030: Piyush Goyal
Source: Accord Fintech
2023-12-11 11:33:56 am
IndiaFirst Life Becomes the First Indian Life Insurance Company to Receive the GIFT City IFSC Registration IndiaFirst Life Insurance Company Ltd (IndiaFirst Life), one of India’s fastest growing private life insurers in the country, has become the first Indian life insurance company to receive the registration to undertake life insurance business in the Gujarat International Finance Tec (GIFT) City International Financial Services Centre (IFSC). Elated on obtaining the registration, Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance Company Ltd, said, “IndiaFirst Life i...
IndiaFirst Life Becomes the First Indian Life Insurance Company to Receive the GIFT City IFSC Registration
IndiaFirst Life Becomes the First Indian Life Insurance Company to Receive the GIFT City IFSC Registration
Source: PR Agency
2023-11-02 12:19:05 pm