Market and Business News

- SEBI understands problem of brokers-market intermediaries: No penalty for one month on upfront margin short collection: New framework to be implemented from September 1, 2020 (Commercial Representative) Mumbai, Ta. 31 July 2020, Friday The Securities and Exchange Board of India (SEBI), the regulatory body for capital markets, has finally sided with the market. SEBI, which has earlier decided to enact legislation that would have killed many brokers and made it effective from August 1, 2020, has had to relax the rules in the interest of brokers, traders and market intermediaries, with a decision not to impose stricter penalty norms. SEBI has decided not to impose any penalty immediately in case of reduction or under-collection of upfront margin aggregation. In a circular issued today, SEBI has decided not to impose penalty for one month for any future deviation in upfront margin consolidation, which will provide some relief to stockbrokers and traders. In addition, SEBI has clarifi...

(By commercial representative) Mumbai, Friday Behind the world market, the domestic gold and silver market continued to rise sharply. Both the precious metals have provided significant returns to investors in July. Not only have they seen new highs in price growth on a monthly basis after a long hiatus. The dollar index is weakening as US GDP figures soften. The dollar index saw a new record low in July. Crude oil has been modestly improving from a three-week low. At home, the GST-free price of 10 grams of gold in the Mumbai market, which was Rs 305 yesterday, jumped to Rs 5 today. Gold was closing at Rs 4.50, up from Rs 5. Prices with GST remained three per cent higher. Silver. The price of one kilogram excluding GST was closing at Rs. Prices with GST were quoted three per cent higher. In the Ahmedabad jewelery market, gold rose by Rs 200 to Rs 500 per ten grams and was priced at Rs 200 and Rs 200 per gram. Silver also rose by Rs 2,000 to Rs 500 per kg. The price of an ounce of go...

- Reliance, offloading in HDFC stocks Sensex down 19 points to 203: FPIs / FIIs net sales of Rs 5 crore net, DII cash net purchases of Rs 2 crore (Gujarat News Correspondent) Mumbai, Friday Despite worrying global economic downturn on the back of worrisome increase in Coro's transition around the world and better quarterly results than expected by Reliance Industries yesterday in the corporate results season on the other hand, the State Bank of India's expected results today outperformed State Bank of India's Eventually index-based softness continued. However, with the rise in Corona cases, the importance of pharmaceuticals-healthcare companies around the world is growing and companies are introducing new drugs and intensifying efforts to find vaccines. Today, for the fourth day in a row, the rise in funds There was a surge. It had gained 206.5 points in one day and closed at 12.5. At the end of the day, the Sensex was down 19.15 points at 206.5 and the Nifty spot was do...

Washington, Ta. 31 July 2020, Friday In the April-June quarter, the US economy grew at an annual rate of 2.50%. Demand stalled amid the lockdown had an impact on GDP. This is the first time since the release of GDP figures in 19 years. According to the US Bureau of Economic Analysis, this is the first time since the 18th GDP fell by 10 per cent. Massive declines were expected in the second quarter, local analysts said. However, recovery is expected later. However, the resurgence of the Corona case in the United States and the ongoing lockdown in many areas have slowed the recovery. Last week, more than 1.5 million people applied for unemployment benefits, a modest increase from the previous week. Other figures show a cut in spending and a drop in confidence in the US in July. The US Federal Reserve decided to keep interest rates close to zero at the end of its two-day meeting. The low interest rates will continue until economic recovery is seen, a statement issued after the meetin...

- Castor and castor oil prices rise: Flowing indications that a new soybean crop will hit record in Brazil: Soymeal prices fall (By Commercial Representative), Mumbai, Ta. 31 July 2020, Friday The Mumbai oil and grease market witnessed a sharp decline in spot prices today as supply of imported palm oil increased and shortage of spot goods eased. On the other hand, cottonseed oil prices have risen further behind the scenes, market sources said. Soyoil prices rose in world markets today, while Malaysian palm oil markets closed today due to a public holiday. Meanwhile, in the Mumbai spot market, the price of 10 kg of palm oil fell from Rs 30 to Rs 5 to Rs 30 today. New trades against were also slow. Crude palm oil (CPO) Kandla, however, was trading at Rs 6, up from Rs 6, while futures traded higher at Rs 61 for CPO in August and Rs 2.50 for soyoil in August. There was talk in the Mumbai market today that some refineries had resumed delivery of palm oil. Meanwhile, soyoil futures i...

Net interest income rises 15 per cent to Rs 2,31 crore Total deposits rise 15 per cent to Rs 2.16 lakh crore (Commercial Representative) Mumbai, Ta. 31 July 2020, Friday State Bank of India (SBI), India's largest public sector lender, has released encouraging results for the first quarter ended June 30, 2020. The bank's consolidated net profit rose 21 per cent to Rs 412.5 crore from a year ago. Which is recorded through an increase in net interest income. The bank's net interest income rose 19 per cent to Rs 2,31.5 crore. Analysts had estimated the bank's net profit at Rs 5-600 crore. State Bank of India's quarterly total provisions rose 5 per cent to Rs 12,401 crore, while other revenue fell 0.2 per cent to Rs 5 crore. The bank has made an additional provision of Rs 15 crore for Covid-17 and the total provision for this has increased to Rs 2,008 crore at the end of June 30, 2020. The bank's asset quality-NPA has also improved, bringing the total NPA down 2...

Mumbai, Ta. 31 July 2020, Friday In the current financial year, the income of readymade garment manufacturers is likely to decline by 5 to 20 per cent. Lockdowns and declining demand are having an impact on revenue, according to a Crisil report. With a sharp decline in demand for garments in the domestic and export markets, the income of garment manufacturers will fall by 5 to 20 per cent. Exports will be impacted by cuts in excessive spending in the US and European markets. About 60 per cent of India's readymade garments exports go to the US and Europe. Garment manufacturers' working capital cycles are prolonged due to high inventory and delays in receiving payments, which could lead to a deterioration in their credit profile, the report said. Due to the spread of coronavirus and lockdown, the level of inventory held by producers was 20 to 5 per cent higher at the end of last financial year. In the first six months of the current financial year, demand remains sluggish and ...

Mumbai, Ta. 31 July 2020, Friday Banking and non-banking financial companies (NBFCs) have started chanting that the moratorium announced by the Reserve Bank should not be extended beyond August 31 due to Corona. Borrowers who are able to repay the loan installments even though they do not pay it, which has affected the cash flow of banks and NBFCs. Restructuring loans at a time should be allowed rather than lengthening the moratorium, a banker said. Restructuring of loans on a case-by-case basis would be appropriate. Loans can be restructured by extending interest rates and repayment periods so that cash flow can continue, he said. Another banker said this was suggested in a recent meeting with the government and the Reserve Bank. A meeting with the Prime Minister also drew his attention to the issue. Amidst the economic impact of the corona, the moratorium has been provided for a total of six months to relieve the borrowers, which is coming to an end on August 31. However, the n...

New delhi date. 31 July 2020, Friday Restrictions on international flights have once again been extended in the country following the growing number of coron cases in India. The ban has been extended once again by the Ministry of Civil Aviation of the Government of India till August 31. The Ministry of Civil Aviation had earlier extended the ban till July 31. The Vande Bharat Mission was launched by the Central Government to repatriate Indian nationals stranded abroad following the cancellation of international flights. Under this campaign, people trapped abroad were brought back in stages. Air India helped a lot for this. The campaign was launched to bring back people trapped abroad amid the Corona epidemic. So far more than three lakh people have been repatriated under 2800 flights under Vande Bharat Mission. Air India also tweeted about it, in which he mentioned the matter. It may be mentioned here that the fifth phase of the campaign will now be launched in August to bring bac...

New Delhi, 31 July 2020 Friday Just as Corona's case is growing rapidly, investor confidence is weakening, and it is turning to safer investments. This is the reason why gold-silver prices are constantly rising, and setting new records every day, today the price of gold reached Rs 53844 per gram. Gold for delivery in August at 3 pm traded higher by Rs 512 at 53,650 on the MCX, reaching Rs 53,844 during trading. Gold closed at Rs 53,138 per 10 grams on Thursday, opening at Rs 53,526 this morning and reaching a high of Rs 53,844, a low of Rs 53,503. Gold for delivery in October also rose by Rs 696 to Rs 53,476 at present, while gold for December delivery rose by Rs 717 to Rs 53,645. Experts said that the rise in gold will continue, adding that the way the US dollar is depreciating has led to a rise in gold prices, adding that people are looking to secure investment in the US after the economic downturn. He said gold prices were fluctuating at the beginning of the week, but ar...

New Delhi 31st July 2020 Friday After banks, it was learned that LIC's NPAs (non-productive assets) have also increased significantly. NPAs grew by 8.17 per cent in 2019-20. LIC had total assets of Rs 31.96 lakh crore. There was a slight increase in the last financial year. Last year, LIC's assets stood at Rs 31.1 lakh crore. In comparison, LIC's assets increased marginally in 2019-20. This increased the risk to the man's property. A senior LIC official, speaking on condition of anonymity, said the economic downturn also affected LIC's assets. Defaults and downgrades increased, especially in the corporate sector. This adversely affected LIC's assets. As on March 20 this year, LIC's NPA stood at Rs 36,694.20 crore. Last year, the NPA was Rs 24,772.2 crore. On September 30, 2019, LIC's NPA increased to Rs 30,000 crore. The official opined that NPAs have also increased in the last few years due to the sharp rise in defaulters in the corporate sector. In...

Gold prices in India have risen by 3% this year - Gold consumption falls 3% to 12.5 tonnes in first half of 2020 (Commercial Representative) Mumbai, Ta. 30 July 2020, Thursday Somsundaram PR, managing director of the World Gold Council's (WGC) India unit, said demand for gold in India is likely to reach a three-year low as gold prices hit new record highs in 2020 due to the Koro epidemic. Of course, the rise in demand for ETF gold has resulted in a surge in global gold prices. It may be mentioned that the price of gold at home has crossed a record high of Rs 5,000 per 10 grams in the futures market and has reached a record new high. Which has been seen due to the rise in global gold prices. In India, gold prices have risen more than 3% so far this year. The domestic price of gold includes 12.5 per cent import duty and 3 per cent GST. Somsundaram further said that India's gold consumption is likely to touch a post-19 low in 2020 due to weak demand in the first half of this ...

Palladium and platinum, industrial metals, also fell amid fears of a recession. (By commercial representative) Mumbai, Ta. 30 July 2020, Thursday At home, gold improved on the back of global markets, while silver rallied. Prices of precious metals other than gold fell in the world market. Global prices of industrial metals such as silver, platinum and palladium plummeted on expectations of declining industrial demand. With the GDP figures of various countries weakening, the world saw a decline in crude oil as a sign of economic slowdown. While there is no special demand for the dollar in the domestic currency market, prices have stagnated as a result. In the domestic Mumbai market, the price of 10 grams of gold without GST, which was Rs 310 yesterday, closed at Rs 5,150 and today it is closing at Rs 303. The price of gold at Rs 4.50 was Rs 5 from Rs 4 in 2013. Prices with GST were quoted three per cent higher. Silver. The price of a kilogram fell to Rs. Three per cent higher pric...

- Mukesh Ambani joins hands with global companies like Google, Facebook, Anil Ambani struggles to pay off debts On the one hand, Reliance Industries' Mukesh Ambani is on the list of the world's top five richest people, while on the other hand, his half-brother Anil Ambani is mired in debt. Yesterday, Yesbank seized its Reliance Center in Santa Cruz for non-payment of Rs 4 crore. Reliance Industries is one of the top 20 companies in the world. He has joined hands with global companies like Google and Facebook. While his brother Anil Ambani has a total debt of Rs 3 billion. Reliance Group Chairman Anil Ambani has taken over its headquarters in Santacruz, Mumbai. Anil Dhirubhai Ambani Group (ADAJ) took over the headquarters of Yes Bank as it could not pay within the last time limit of Rs 2.5 crore. This headquarters was known as Reliance Center. Yes Bank took possession of the 21,000-square-foot building of Nagin Mahal in Santacruz, South Mumbai, as well as its two floors. An...

- Edible oil prices rise in futures market, while soybean and castor futures face off (By Commercial Representative), Mumbai, Ta. 30 July 2020, Thursday In the Mumbai oilseeds market, cingulum oil prices rose again today on the back of stagnation. On the other hand, various imported edible oils, including palm oil, were also firm. Amid a shortage of palm oil in the Mumbai market, the spot price rose by Rs 5 per 10 kg and traded at Rs 100 to Rs 12 a tonne, while the August delivery was quoted at Rs 20 to Rs 5 and the September delivery at Rs 305. About 500 to 60 tonnes were traded for September delivery, sources said. Meanwhile, edible oil prices rose in the world market today. In the Mumbai spot market, the price of 10 kg of cingulum oil rose by Rs 1,50, while at manufacturing plants, the price rose by Rs 1,20, 15 kg by Rs 1,20 to Rs 1,50 and cotton washed by Rs 415 to Rs 715. . In the Mumbai market, cottonseed oil was up by Rs 30, while soyoil was at Rs 310 for digam, Rs 3 for r...

- Partnerships with Indian start-ups and global technology companies to take digital business to new heights of high growth (Commercial Representative) Mumbai, Ta. Thursday, July 30 Reliance Industries Ltd, led by Mukesh Ambani, has reported better financial results than expected for the first quarter ended June 30, 2020. On a consolidated basis, the company's net profit rose 20.5 per cent to Rs 12.5 crore from Rs 10,161 crore in the year-ago period. Total income fell by 3.11 per cent to Rs 2.7 crore from Rs 1,3,16 crore. Reliance Jio Infocomm's net profit for the first quarter ended June 2020 stood at Rs 20 crore, up 12.5 per cent from Rs 21 crore. Which was Rs 21 crore in the March 2020 quarter. Reliance Jio's revenue grew by 4.5 per cent to Rs 12.5 crore from Rs 12.5 crore. Including access revenue, Geo's quarterly revenue rose 2.6 per cent to Rs 1,412 crore from Rs 12.5 crore. Reliance Jio's average revenue per user - average revenue per user (ARPU) has in...

Maruti Suzuki quarterly loss of Rs 249 crore (Commercial Representative) Mumbai, Ta. 30 July 2020, Thursday Maruti Suzuki India Limited, India's largest carmaker, has reported weaker-than-expected results for the first quarter ended June 30, 2020. The company has posted a quarterly net loss of Rs 4.5 crore this time, compared to a net profit of Rs 12.5 crore in the same period last year. The company had posted a net profit of Rs 131.5 crore in the quarter ended March 2020. The company's revenue also fell 4.5 per cent to Rs 2,108.5 crore as a result of the lockdown. The company had sold 2.7 lakh units in the quarter, down 21 per cent from 2,09,400 units in the year-ago period. The company's other revenue grew by 4.5 per cent to Rs 1,212.5 crore. The value of LIC's portfolio is Rs. 1.50 trillion growth Big rally contributes to Reliance's share price The value of Life Insurance Corporation's (LIC) equity portfolio has risen by Rs 1.50 trillion so far in the c...

Mumbai, Thursday 30 July 2020 Yes Bank has taken over the Santa Cruz-based headquarters of the Anil Ambani Group due to non-payment of arrears of Rs 2,892 crore. The bank has also seized two flats in south Mumbai for non-payment of dues by Reliance Infrastructure, according to a notice issued by Yes Bank in a newspaper on Wednesday. Almost all the companies of Anil Dhirubhai Ambani Group (ADAG) operate from the Reliance Center at the Santa Cruz office. However, the economic condition of group companies has deteriorated significantly over the last few years. Some companies have gone bankrupt. While some companies have had to sell their stakes. Yes Bank said it had issued a notice to Reliance Infrastructure on May 6 to pay arrears of Rs 2,892.44 crore. Despite a 60-day notice, the group was unable to pay the outstanding amount. He then took possession of all three properties on 22 July. The bank has warned the general public not to make any transactions regarding these properties. ...

Mumbai, Ta. Thursday 30 July 2020 Yes Bank attached the Mumbai head office of Anil Dhirubhai Ambani Group (ADAG), Anil Ambani's company. In fact, it can be said that Yes Bank captured Anil's Mumbai office. Yes Bank owes Rs 2,892 crore to Anil's company. According to an English commercial daily, Anil's office is spread over 21,000 square feet. The bank is said to have repaid the loan more than once before. The bank also seized two floors of the Nagin Mahal building in south Mumbai. The banks took this step as per the provisions of the SARFESI Act. In fact, the Anil Ambani Group had borrowed a total of Rs 12,000 crore from Yes Bank. In March this year, when the Enforcement Directorate inquired about the loan, Anil claimed that the Yes Bank loan was safe. "If necessary, I will sell my properties and repay the loan," Anil said. During the bank's inquiry into the irregular repayment of loan installments, Anil is believed to have said that he has nothing to...

- Cyber ​​Security and Cyber ​​Resilience Audit to be submitted by September 30 (Commercial Representative) Mumbai, Ta. Wednesday, July 29, 2020 In the wake of the Corona epidemic, the Securities and Exchange Board of India (SEBI) has earlier decided to extend the time limit for compliance with various regulatory provisions, including trading members, clearing members and depository participants. SEBI has issued a circular in this regard today informing all recognized stock exchanges and clearing corporations, trading members-clearing members as well as KYC registration agencies to extend the relevant deadline. In which most of the term has been announced to be extended till September 30, 2020. Of these, Client Funding Reporting for the months of June and July 2020, Artificial Intelligence (AI) for the quarter ending June 30, and Reporting for Machine Learning (ML) for the months of June and July 2020, extended to September 20, 2020. Certificate of Compliance for Margin Trading, 31...

(Commercial Representative) Mumbai, Ta. Wednesday, July 29, 2020 The Securities and Exchange Board of India (SEBI), the regulator of the capital market, has decided to extend the deadline for various market participants and corporates to comply with their compliance in the wake of the Corona epidemic. The deadline for companies to submit quarterly results for the end of June 2020 has been extended to September 15, 2020. Companies listed in one of the various circulars issued by SEBI today will now be able to present their financial results for the quarter ending June 2020 till September 15, 2020. SEBI had made several representations in this regard. With this in mind, the quarterly and half-yearly results completed on June 30, 2020 can now be released till September 15, 2020. Listed companies are usually required to submit quarterly or half-yearly results as on June 30, 2020, or on or before August 15, 2020. Generally, listed companies are required to file their annual results withi...

- Trading-clearing members are required to close all demat accounts as client margin / collateral by 31st August: SEBI (Commercial Representative) Mumbai, Ta. Wednesday, July 29, 2020 The Capital Markets Regulatory Authority (SEBI) has decided to provide relief in times of crisis by understanding the plight of market participants-market participants-brokers, including clearing members. Today, SEBI has decided to extend the implementation of this provision by one month with a clarification on the implementation of the circular on margin liabilities through pledges / re-pledges in the depository system. SEBI had earlier decided to implement this provision in its circular dated February 3, 2020 regarding pledge / re-pledge in depository system from June 1, 2020. The implementation was then extended to August 1, 2020 due to the Lockdown-Coro epidemic. In view of the representations made by the trading members and clearing members on the change in their system and the need for more ti...

(By Commercial Representative) Mumbai, Ta. Wednesday, July 29, 2020 Gold and silver prices have rebounded in the domestic market. Gold has seen new record prices while silver has seen a sharp rise. Gold is forecast to hit 5,100 in the short term. The dollar, on the other hand, is showing stability. Demand for the dollar has been low due to a slowdown in imports due to the corona. Crude oil has seen a modest improvement. In the domestic market, gold prices in the Mumbai market, which were at Rs 3.50 per 10 grams excluding GST, rose from Rs 5 yesterday to Rs 301 today and gold at Rs 8.50, up by Rs 2 to close at Rs 4, 2017. Prices were three per cent higher with GST. Silver.2 The price of one kg rose by Rs 30 to Rs 200. Prices with GST were quoted three per cent higher. In the Ahmedabad market, gold rose by Rs 2.50 to Rs 200 per ten grams and closed at Rs 200 per ten grams at Rs 4.50. Ahmedabad has seen a new record price in gold. Silver jumped by Rs 1,200 per kg to Rs 2,000. Gold an...

- enters generic drug manufacturing: Japanese photography company Fuji to develop corona vaccine Ahmedabad. Wednesday, July 29, 2020 Kodak, a world-renowned US-based photography company, has been revived with the help of US President Trump. The camera maker, in collaboration with the US government, has ventured into the generic drug industry by entering the pharmaceutical sector. The company was at the top of the photography industry in the past when digital photography was introduced. The company manufactured cameras, its film and other accessories. The Kodak company was known all over the world. She was in financial trouble in the late 1970's. And then her dominance waned and she was gone. In 2014, Kodak filed for bank robbery protection in the United States. Since last March, Corona has spread all over the world. The epidemic has caused the most casualties in the United States. The Trump administration is currently taking all necessary steps to bring the Corona epidemic und...

- New rules applicable, including upfront margin consolidation, shares as margin - Many responsibilities will increase: How much vigilance do brokers-clients have to be aware of? Mumbai, 28 With the new rules to be enacted by the Securities and Exchange Board of India (SEBI) coming into force from August 1, 2020, small and medium-sized brokers are likely to die. Considering the need to implement these new rules very carefully, Here is a detailed description of how much and how much vigilance clients and brokers will need to be, otherwise how much penalty-penalty can be imposed. Two major changes have been introduced in the new rules of SEBI. Previously, if a trader wanted to use his shares for margin, he only had to give a power of attorney (POA) to the broker. But now, from August 1, the trader will be required to place a pledge on the securities-stock broker to use his stock-securities as a margin. Another change is that upfront margin consolidation is being introduced in equi...

New delhi date. Wednesday 29 July 2020 After railways and banking, it was learned that the central government was now moving towards large-scale privatization of the insurance sector. Under the policy, only four large companies in the insurance sector were preparing to move. Currently, seven companies, including LIC, are working in the field. The Center plans to include railways, oil and gas, defense, space and nuclear energy in the strategic sphere, an English business daily said. At present, the central government is focusing on privatization of railways. In addition to private trains, preparations were underway to hand over the management of railway stations to private companies. Similarly, there was a move to privatize the energy sector. Bharat Petroleum Corporation, the country's second largest company, is currently in the process of selling more than 52 per cent stake. In the banking sector, when was that process going on? After merging small banks, the Modi government is...

New Delhi, 28 July 2020 Tuesday The relationship between the Modi government and the Reserve Bank of India (RBI) is often the subject of new rumors. Earlier, Urjit Patel's book made some shocking revelations and now Viral Acharya's book has made a big splash. Viral Acharya said that Urjit Patel left his post prematurely because he was not happy with the government. Viral Acharya, in his book 'Fest for Restoring Financial Stability in India', said that the government was trying to undermine the autonomy of the Reserve Bank, so Urjit Patel left early. Viral Acharya said in his book that during the tenure of Urjit Patel as the Governor from January 2017 to July 2019, many policies were formulated which pushed the economic environment in the country backwards. The principal alleged that the government was reversing prudent measures, making irrational demands. Was encroaching on the autonomy of the RBI. This is why Urjit Patel had to resign prematurely in 2018. Urjit Pat...

Mumbai, 28 July 2020 Tuesday Mukesh Ambani's Reliance Industries is close to buying the retail business of Future Group, sources said, adding that the deal could be worth between Rs 24,000 crore and Rs 27,000 crore. The deal will strengthen Reliance Industries' position in the retail segment, sources said, adding that the deal also includes the responsibilities of Future Group, which will come to Reliance Industries with the deal. The first 5 listed companies in the asset sale will be Future Consumer, Future Lifestyle, Future Lifestyle Fashion, Future Retail, Future Supply Chain and Future Market Networks will be merged into Future Enterprise. According to Live Mint, Reliance has an exclusive deal till July 31. Under the binding agreement, Reliance has to make the deal before July 31, sources said, adding that talks between the two companies are ongoing and may take some time. Under the deal, Future Group's fashion and grocery retail format will come to Big Bazaar, Fo...

- Silver can reach 70 thousand, silver-silver to investors in lockdown Ahmedabad. 28 July 2020, Tuesday Gold and silver prices have risen sharply amid the Corona epidemic and geopolitical tensions. The price of silver has doubled in the last four months. Investors in silver have made huge profits. Silver prices on the MCX on March 18, 2020 were 33,580 which has risen to 67,560. Experts believe that the current price of silver could reach Rs 75,000 by Diwali. Gold prices may still rise in the near future. The dollar has weakened due to ongoing tensions between the US and China. Apart from that, US bond yields are at a low point and this is the reason why the demand for bullion has increased. The rally in gold and silver will continue and the price of gold could go up to Rs 53 spot. Whereas, silver can touch the level of 70 spot. In the international market, gold can reach the price of 2000 2000, while silver will remain bullish. Silver-silver to investors in lockdown Investors...

New Delhi, 27 July 2020 Monday Finance Minister Nirmala Sitaram today said that work is underway to complete the sale of government stakes in 23 public sector companies. Cabinet approval has been given to sell government stake in these companies. He said the government wants to sell its stake in public companies when it gets a fair price. Sitaram said 22-23 PSUs have already received cabinet approval for disinvestment. Our intention is clear that at least these companies should be disinvested. The government has set a disinvestment target of Rs 2.10 lakh crore for the financial year 2020-21. Of this, Rs 1.20 lakh crore will come from disinvestment of PSUs and Rs 90,000 crore will be raised by selling stakes in financial institutions. The Finance Minister in a conversation with Hero Enterprise Chairman Sunil Kant Munjal said that the government had announced to open several areas for private partnership under the Self-Reliant India Package. A final decision has not yet been made o...

-Pan has already banned 59 Chinese apps -Central plan to ban more apps New delhi date. Monday 27 July 2020 The Indian government last month banned 59 Chinese apps. Now the central government plans to ban another 275 apps. At the same time, an investigation will be carried out to find out whether any of these apps violate the privacy of the user. At the same time, it will be investigated whether any of these apps are dangerous and spying for the national security of the country. A government spokesperson said the Indian government had decided to scrutinize every Chinese app and security agencies were working in that direction. It is likely that another 275 apps will be banned. The 275 apps that were noted included the Pubji Games app. The app is owned by Tencent, China's most valuable company. The government also plans to ban apps such as phone maker Xiaomi's Jelly, Alibaba's AliExpress, as well as apps such as TicTac and BitDance Race and ULIC. The government spokesma...

New delhi date. 27 July 2020, Monday The Reserve Bank of India may once again cut interest rates to save the struggling economy from the Corona crisis. According to a report, the RBI may cut the repo rate by 0.25 per cent during the next monetary policy review. The three-day meeting of the Monetary Policy Committee (MPC), chaired by the RBI governor, will begin on August 4 and will be announced on August 6. The Reserve Bank is constantly striving to limit the damage to the economy caused by the Covid-19 epidemic and the impact of the lockdown. Earlier, MPC meetings were held in March and May in which policy repo rates were cut by a total of 1.15 per cent. Increase in retail inflation The recent rise in prices of food items, especially meat, fish, cereals and pulses, led to a rise in consumer price index-based retail inflation to 6.09 per cent in June. The Reserve Bank itself has stated that the convenient level of inflation is only 4 per cent (which can be reduced by 2 per cent)....

Mumbai, Dt. 25 July 2020, Saturday Gold and silver prices rose on Saturday as domestic metal prices closed higher over the weekend. In the Ahmedabad jewelery market, gold crossed Rs 2,000 and hit a new high. Silver also saw gains. The dollar weakened against the rupee in private on Saturday as the dollar index declined. Crude prices closed higher over the weekend. At home, gold in the Ahmedabad market rose by Rs 200 to Rs 500 per ten grams and touched a new historic high of Rs 3,100. Silver.2 The price of one kg rose by Rs 500 to close at Rs 31,000. In the Mumbai market, the gold-free price of 10.50 per ten grams, which was closed at Rs 30,415 yesterday, was set at Rs 31,600 in the private market and Rs 31,150 at Rs 2,115. Prices with GST were quoted three per cent higher. Silver. Rs. 540 per kg was quoted at Rs. Prices were set three per cent higher with GST. Gold was trading at ૯ 1,305 an ounce and silver at ૭૬ 2.8 an ounce. Silver was seen at a high of ૨૨ 2.50 over the weekend....

Mumbai, Dt. 25 July 2020, Saturday In the Mumbai oil-oil market, imported palm oil prices rose today, while other edible oils remained subdued. There was a short supply of goods in palm oil. However, trade was scattered as new demand remained slow. In global markets, cotton futures fell 19 points in overnight trade in US agricultural markets, while soybean futures were down 19 points, while soyoil and soymeal futures were showing a slow recovery. Amid growing differences between China and the United States, fears of a slowdown in new Chinese demand have weighed on US agricultural markets. Meanwhile, in the Mumbai spot market, palm oil prices were hovering between Rs 5 and Rs 20 per 10 kg today, while crude palm oil (CPO) Kandla was trading at Rs 4. Peanut oil prices were quiet at Rs 1,200, with manufacturers reporting prices of cingulum oil at Rs 1,20 and 15,000 per 15 kg and cotton washed at Rs 305 to Rs 610 per kg. In the Mumbai spot market, Koparel was trading higher behind the ...

Mumbai, Dt. 25 July 2020, Saturday The kharif planting area, which has received above-normal rainfall so far this year, is also witnessing a significant increase. Compared to July 8 last year, kharif sowing has been 18 per cent higher till this period of the current year. Growing kharif crops have also raised hopes of a bumper crop. Kharif sowing has been completed on an area of ​​4.5 lakh hectares in the current year as against 3.08 lakh hectares till July 8 last year. There are also no special reports of pest infestations on standing crops at present. However, in the event of a bumper crop, it remains to be seen what compensation farmers will get in the open market. As a result of good progress of monsoon, sowing has been completed on 8% of the area under crops in the country. Farmers are not particularly frustrated by the impact of corona, which provides them with good money for rabi crops, Agriculture Ministry sources said. The central government has also announced an increase ...

Mumbai, Dt. 25 July 2020, Saturday Fifty per cent of the 30 bankruptcy cases filed since October 1, 2016, when the insolvency law came into force in the country, have been filed by operational creditors and not by banks, according to the Reserve Bank's Financial Statement. Since December 2016, about six companies have been sent to various bankruptcy tribunals. Out of these, 216 cases have been settled while 15 cases have been withdrawn. By the end of June, 4,160 cases were pending. Out of the bankruptcies, 4.5 per cent were filed by operational creditors and 5.61 per cent by financial creditors. The rest of the petitions were filed by corporate debtors, the report said. In terms of the status of applications, 4 per cent of the ongoing cases have been delayed for more than 30 days.

Mumbai, July 25, 2020, Saturday ICICI Bank, India's leading private sector bank, has reported a 6 per cent increase in net profit from holding sales in subsidiaries for the first quarter ended June 30, 2020 to Rs 4 crore. It was Rs 1,407 crore in the same period last year. In June, the bank sold 4.5 per cent stake in ICICI Lombard for Rs 20 crore, and ICICI Prudential Life for 1.6 per cent stake, raising Rs 20 crore to Rs 5,050 crore. The bank said the holding sale in the first quarter resulted in a net gain of Rs 206.5 crore in standalone financial results and Rs 216.5 crore in consolidated results. With the lockdown causing a major adverse effect on economic activities in the quarter, the bank has provided an additional Rs 20 crore for Kovid-12. The bank's total NPAs fell to 7.5 per cent from 2.4 per cent and net NPAs fell to 1.61 per cent from 1.7 per cent. The bank's net interest income rose 30 per cent to Rs 5 crore. On a consolidated basis, the bank's revenue...

Mumbai, Dt. 25 July 2020, Saturday The country's forex reserves are steadily increasing. For the week ended July 15, forex reserves rose by ૨૭ 1.2 billion to a new high of ૭ 313.5 billion. Foreign currency assets, the main component of the forex reserves, rose by ૨૪ 1.2 billion to ૮૮ 2.3 billion, according to Reserve Bank data. Gold reserves rose by ૧ 1.60 million to ૭૩ 2.8 billion. Adequate forex reserves have reduced the risk of rupee depreciation. A strong forex reserve will make it easier for Indian corporates to raise money from abroad, a Reserve Bank official said. In case of any depreciation of the rupee against the dollar, the Reserve Bank of India (RBI) is able to ease its reserves up to ૫ 20 billion. The reserve is being supported by lower import bills.

Mumbai, Dt. 25 July 2020, Saturday At a time when the global economy is facing challenges amid the Corona epidemic, each country is trying to come up with economic packages to save its economy from this crisis. But in the new round of corona, the increasing number of corona cases in different countries and the number of new cases registered in India every day has increased to 30,000. Despite the softening of global markets, the relentless buying of foreign funds and foreign portfolio investors in the Indian stock market has pushed the Sensex above 7,000 and the Nifty above 11,000 last week. However, the big boom in Reliance Industries in this round of boom has been in the role of president. Along with this, the rise in banking-finance, FMCG, pharma, IT stocks has also accompanied. The correction in the overbought position of the market has been overdue for several days, but the bulls, the bulls, have kept the bullish cycle afloat by not giving a shit. However, as the market situation...

New delhi date. Saturday, July 25, 2020 On July 20, the government enacted a new law for consumers. Due to this new law, consumers are getting many more rights than before. The law also covers e-commerce companies. However new rules involving e-commerce companies have now been notified. The rules have changed the way goods are sold. So let us know about the new rules associated with e-commerce companies in the area ... According to the new rule, the seller has to indicate the country in which the goods are made on his products. The new rule will apply to all vendors registered in India or abroad but providing goods and services to Indian customers. Under the new rule, e-commerce companies will have to provide full details of other expenses along with the total cost of goods and services held for sale. At the same time he has to show when the item will expire, i.e. what is its expiry date. Apart from that, the country of origin of the goods and services has to be informed by the P...

New delhi date. Saturday, July 25, 2020 - NPA likely to rise from 8.5 per cent to 12.5 per cent The Cora virus has damaged most industries in the country. The biggest impact is being felt in the banking sector. Corona virus infection has hit the country's economy hard. Which has affected different sectors. The country's banking sector is also expected to suffer a major setback. According to the RBI's new forecast, banks' bad loans, or NPAs, could rise from 8.5 per cent to 12.5 per cent by March 2021. According to the RBI's Financial Stability Report, gross NPAs will rise sharply to 14.7 per cent. If we only talk about the government bank, the gross NPA could increase from 11.3 per cent to 15.2 per cent by March 2021. The RBI has ruled out any threat to the banking sector. At the same time, the Reserve Bank has described the impact of Corona as unprecedented. In recent days, the central government has announced a Rs 21 lakh crore self-sufficient India package. ...