India records highest ever FII inflows in FY'21

New Delhi (IANS) India recorded the highest ever FII inflows of $37.6 billion in financial year 2021, greater than the cumulative inflows of the last six years.

As per a report by Motilal Oswal Financial Services, DIIs recorded the first outflows…

March GST collection surges to over Rs 1.23 lakh Cr

New Delhi (IANS) India's gross GST revenue collection reached a new record high of over Rs 1.23 lakh crore in March 2021.

Accordingly, the GST revenues during March 2021 are the highest since the introduction of the tax.

"In line…

Cabinet likely to consider IDBI Bank privatisation next week

New Delhi (IANS) As the government's new disinvestment policy moves ahead, the Union Cabinet is likely to consider the privatisation of IDBI Bank in its meeting next week, sources said on Tuesday.

The LIC-owned IDBI Bank would be the first-ever…

NBFC-MFIs to charge 7.81% average base rate in April-June

Mumbai (IANS) The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company - Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter.

Sensex down 500 points; banking, finance stocks fall

Mumbai (IANS) The key Indian equity indices declined on Wednesday morning, with the BSE Sensex losing over 500 points.

Heavy selling pressure was witnessed in banking and finance stocks.

Around 10.24 a.m., Sensex was trading at 49,629.68,…

Global cues, value buy lift equities; Sensex rises over 1,000 pts

Mumbai (IANS) Favourable global cues, as well as value buying, lifted India's key equity indices during the mid-afternoon trade session on Tuesday.

Accordingly, the two indices had a gap up opening on account of favourable global cues and…

Large private banks well placed to accelerate market share gains: MOFSL

New Delhi (IANS) Large private banks are well placed to accelerate market share gains, Motilal Oswal Financial Services (MOFSL) said in a report.

As per the report, the rise in market share is expected to take place on the back of strong capital…

'Pvt sector can help increase funding options for rail infra'

New Delhi (IANS) Private sector could help increase funding options for creating railway infrastructure, said ratings agency ICRA.

"Given the increased funding requirements, besides higher global business services (GBS), other avenues like…

'Faster electrification of urban focused scooters expected'

New Delhi (IANS) Narrowing the price gap between internal combustion engine equipped two-wheelers and their electric variant, can accelerate electrification of urban focused scooters, said Motilal Oswal Financial Services Ltd. (MOFSL).

Accordingly,…

AEPC seeks steps to curb export of cotton yarn

New Delhi (IANS) Apparel Export Promotion Council (AEPC) has sought for imposition of quantitative restrictions and export duty on export of cotton yarn from India.

In a letter to the Union Minister of Textiles Smriti Zubin Irani, AEPC Chairman…