Regulatory nod for IPOs, MF schemes fast-tracked: Madhabi Puri Buch
Only two IPOs were awaiting approval for more than three months in November compared to 19 in March 2022, said Buch at an event in Mumbai on Friday.
Gold trade bodies call for flexibility in monetisation scheme
Gold trade bodies have suggested the government make the Gold Monetisation Scheme (GMS) more attractive in the upcoming budget by offering flexible tenures, higher interest rates, and tax-exemptions on up to 500 grams of ancestral gold deposits. The aim is to mobilise 22,000 tonnes of gold and reduce imports.
Positive TCS outlook triggers rally in large-cap IT stocks
The Nifty IT Index gained 3.4% on Friday, led by a 5% jump in TCS shares. The company posted a 12% increase in net profit in the December quarter compared to the previous year.
India needs Rs 1,000 lk cr to meet ‘Viksit’ goals by 2036: SBI chief CS Setty
India needs ₹1,094 lakh crore to achieve an 8-9% growth rate by 2036 under the Viksit Bharat plan. Of this, ₹323 lakh crore will come from banks and ₹643 lakh crore from the equity market. Domestic savings rates must rise to 33.5%. The government aims to become a $30 trillion economy by 2047.
Difficult to lower rates without easy funds: Microfinance institutions
Heads of microfinance institutions (MFIs) emphasize the difficulty in lowering interest rates without access to cheaper funds, suggesting a dedicated credit guarantee scheme or refinance facility. With current rates between 21% and 24%, there is regulatory pressure to reduce them. Alternatives include revamping existing credit guarantee schemes and introducing an interest subvention scheme.