An Overview Changes to the auto debit rule enforced by the Reserve Bank of India (RBI) will take effect on October 1. Customers who use their debit card for recurring transactions will benefit the most from the adjustment. All standing instructions on cards will be ignored after the revisions. What will the modifications entail? All …
An Overview The International Monetary Fund warned on Friday that the introduction of digital currencies in emerging areas might lead to the “cryptoization” of local economies, eroding exchange and capital regulations, and disrupting financial stability. According to U.S. blockchain researchers, bitcoin and other coins have skyrocketed in price and popularity in the previous year, with …
Surge in FPI inflows Foreign portfolio investors (FPIs) were net buyers in domestic markets in the month of August, the overwhelming majority of which was in the debt instruments. They put in just 2,082.94 crore in equities, while they put in 14,376.2 crore in debt between August 2-31, according to depositories data. So far this …
An Overview Shares of Reliance Industries (RIL) set a new all-time high of Rs 2,477.70 and are up 4% on the BSE in early morning sessions on Monday. After market hours on Friday, the company announced that its subsidiary had purchased a majority stake in Strand Life Sciences Pvt Ltd’s genomic testing business for Rs …
On Monday, 6 September 2021, the IT major Infosys announced that it had almost completed its shares buyback program. Earlier, the Infosys board had approved an Rs. 9,200 crores buyback program to commence from 25 June, buying back shares at a maximum price of Rs. 1,750 apiece. The buyback committee will meet again on 8 …
2020 saw the stocks of Pharma companies rise as the pandemic struck India. This has led to the Pharma sector recovering from its earlier stagnant performance. Presently, in 2021, it continues to be one of the best-performing sectors. Moreover, Pharma companies have been doing well as the demand for immunity boosters and life-saving drugs takes …
HDFC Life Insurance Company has decided to convene an extraordinary general meeting (EGM) on 29 September 2021, seeking shareholder’s approval for the Exide deal. Under this Rs. 6,687 crores deal, HDFC Life, will acquire 100% share capital of Exide Life after paying the promoter Exide Industries Rs. 725.98 crores in cash. This EGM will be …
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) rallied 6% intraday on 6 September 2021. The company’s shares crossed the Rs. 3,000 mark, hitting a new all-time high of Rs. 3,041.20. Moreover, experts suggest that the shares can continue to hit new records and may even touch Rs. 5,000 per stock levels in the …
India’s central bank, the Reserve Bank of India (RBI) has now extended tokenisation to include card-on-file (COF) data when its new rules on data storage will come into effect starting January 2022. According to an RBI statement dated September 7, 2021, the device based framework would now be extended to card on file tokenisation and …
An Overview According to reports, the government is considering allowing foreign institutional involvement of up to 20% in Life Insurance Corporation. The government expects to generate up to Rs. 900 billion from the stake sale, which will make it India’s largest ever IPO. The decision will make it easier for the government to raise funds …
