Finance Minister Nirmala Sitharaman: Not just pent up demand that is reviving economy | India Business News

NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the economy reflating at a rate faster than previously expected is not just due to pent up demand but also because of additional demand coming in, and the recovery will sustain. Without delving into the budget she will present in two months, she said the government …

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Burger King IPO subscription: Investors binge on Burger King India IPO; offer gets subscribed over 156 times

NEW DELHI: Investors seem to have fully savoured the Burger King India IPO, with the share sale getting subscribed a massive 156.65 times on the last day of the offer. The portion meant for qualified institutional buyers (QIBs) was subscribed 86.64 times, non-institutional investors 354.11 times and retail individual investors (RIIs) 68.14 times. The initial …

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Vijay Mallya: ED seizes Vijay Mallya’s assets worth €1.6 million in France

NEW DELHI: The Enforcement Directorate (ED) on Friday seized fugitive businessman Vijay Mallya‘s assets worth €1.6 million (approximately Rs 14 crore) in France, under the anti-money laundering law. On request of ED, French authorities have seized Mallya’s property located at 32 Avenue FOCH. Investigations being conducted under Prevention of Money Laundering Act (PMLA) have revealed …

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DBS Bank India gets Rs 2,500 crore capital support from parent for LVB merger

NEW DELHI: DBS Bank India Limited (DBIL) on Friday said it has received capital infusion of Rs 2,500 crore from DBS Bank Limited, Singapore to support its amalgamation with Lakshmi Vilas Bank (LVB). The scheme of amalgamation came into effect on November 27, 2020. DBIL said it is well-capitalised, and its capital adequacy ratios (CAR) …

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crowdera foundation: Crowdera Foundation holds its third edition of GEC 2020 Awards

NEW DELHI: Crowdera recently organized the third edition of Giving Economy Changemakers (2020) virtually. The event was conceptualized by Chet Jainn, founder and CEO of Crowdera Foundation and co-hosted by Deepak Dwiwedi, MD & CEO of Dainik Bhaskar and chairman of Nagrik Foundation. There were more than 200 nominations for GEC Awards from all over …

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RTGS Timings: Limit for contactless card transaction to be raised, RTGS to be made 24×7: RBI governor | India Business News

NEW DELHI: In order to expand the purview of digital payments and enhance security of transactions, the Reserve Bank of India (RBI) on Friday announced that limits for transactions contactless card transactions and e-mandates for recurring transactions through cards and UPI (United Payment Interface) from Rs 2,000 to Rs 5,000 from January 1, 2021. RBI …

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RBI GDP Projection: RBI expects positive growth in second half of 2020-21 | India Business News

MUMBAI: Reserve Bank of India (RBI) on Friday said it expects the economy to record positive growth in the second half of the current financial year. The economy contracted by 23.9 per cent in the first quarter and 7.5 per cent in the second quarter on account of the Covid-19 pandemic. “The second half is …

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piyush goyal: Create aggregation points for farm & MSME items, do minimal inspections: Piyush Goyal to states

New Delhi: Commerce and industry minister Piyush Goyal has asked all states and Union Territories to create aggregation points for farm produce and products from micro, small and medium enterprises (MSMEs), move towards minimal inspections and truck stoppages, and establish logistics parks with truck parking and warehousing facilities. In a letter dated November 27, Goyal …

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India China News: India extends anti-dumping duty on steel products from China, US

India has extended anti-dumping duty on imports of cold-rolled flat products of stainless steel of width 600-1250 mm and above 1250 mm of non-bonafide usage, from China, Korea, European Union, South Africa, Taiwan, Thailand and the US, till January 31, 2021. The extension had been announced by the Central Board of Indirect Taxes and Customs …

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RBI keeps repo rate unchanged at 4%, maintains status quo for third time in a row

NEW DELHI: The Reserve Bank of India (RBI) on Friday decided to keep key lending rates unchanged in its December policy review meeting. The six-member monetary policy committee (MPC), headed by governor Shaktikanta Das, kept repo rate unchanged at 4 per cent while maintaining accommodative stance. Consequently, the reverse repo rate will also continue to …

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