New Delhi, June 11 (IANS) The Reserve Bank of India (RBI) is likely to revive the issuance of fresh licences for urban co-operative banks (UCBs), a move that would end a two-decade pause on new entrants in the sector, according to a report.According to a report in NDTV Profit — citing sources — the central bank is expected to approve fresh licences for UCBs, a practice it had discontinued in 2004.The development comes after the RBI released a discussion paper in January seeking feedback on whe…
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New Delhi, June 4 (IANS) Rajesh Exports Chairman and Managing Director Rajesh Mehta has rejected the findings of the Securities and Exchange Board of India (SEBI)’s interim order against the company, saying the conclusions were inaccurate and that a detailed response would be issued shortly, according to a report.Speaking to NDTV Profit, Mehta described SEBI’s observations as preliminary and disputed the regulator’s findings.“It is an interim order, findings are not accurate,” Mehta said…
New Delhi, June 3 (IANS) India’s largest lender, State Bank of India (SBI), expects to list its asset management arm SBI Funds Management Ltd (SBIFML) on the exchanges in 2027, with draft papers for the proposed public issue already filed with market regulator Sebi, SBI Chairman Challa Sreenivasulu Setty said on Wednesday at the CITI India 2026 Conference in Mumbai.Speaking with NDTV Profit, Setty said the country’s largest lender is moving ahead with plans for the initial public offering (I…
New Delhi, May 25 (IANS) The government has shortlisted Coal India Ltd (CIL), Life Insurance Corporation (LIC), the Indian Overseas Bank (IOB), and the Indian Railway Finance Corporation (IRFC) among the public sector enterprises for the sale of shares in the stock market through a phased offer in the first two quarters of FY27, according to a report.The offers for sale will be calibrated with stable market conditions as the government wants to avoid any volatility before it proceeds to offload …
New Delhi, May 25 (IANS) Economist and former NITI Aayog Vice-Chairman Arvind Panagariya has said there is no need to panic if the rupee touches the Rs 100-per-dollar mark, asserting that the Indian currency could recover over time once global uncertainty eases.Speaking to NDTV Profit, Panagariya said the Reserve Bank of India (RBI) should allow the exchange rate to adjust naturally instead of excessively intervening in the currency market to defend a psychological level.“Don’t panic at Rs 1…
New Delhi, May 22 (IANS) The Securities and Exchange Board of India (SEBI) has reportedly introduced a ‘one‑day‑a‑week work‑from‑home option’ for its junior employees a fortnight after Prime Minister Narendra Modi’s appeal for remote work to conserve energy.The market regulator is also considering postponing internal events to cut non‑essential travel and hotel costs as part of its effort to tackle the inflationary fallout of the US-Iran war, a report from NDTV Profit said citing s…
Mumbai, May 21 (IANS) The Reserve Bank of India (RBI) is likely to transfer a record surplus dividend to the government for FY26, with the payout estimated between Rs 2.7 lakh crore and Rs 3.5 lakh crore, a report has said.NDTV Profit reported that the RBI board is scheduled to meet on Friday to consider the surplus transfer.If approved at the upper end of estimates, this would mark the highest-ever dividend payout by the central bank to the government.Last year, the RBI had transferred a record…
Mumbai, May 18 (IANS) Securities and Exchange Board of India chairman Tuhin Kanta Pandey has described artificial intelligence-driven cybersecurity threats as one of the most significant risks facing India’s financial markets, calling for aggressive measures to strengthen the protection of software systems used across the market ecosystem.Speaking during an interaction with NDTV Profit, the chairman said concerns around AI tools are currently centred more on cybersecurity vulnerabilities than …
New Delhi, May 13 (IANS) No proposal is currently being considered to mandate work-from-home arrangements for the IT sector, after Prime Minister Narendra Modi’s appeal for reduced fuel usage to tackle the fuel price surge, government sources clarified, as per reports. The IT industry has largely adopted hybrid work models since the pandemic, and hence, no formal directive is being considered, an NDTV Profit report cited the sources as saying.Further, policy decisions related to mandatory remote…
New Delhi, May 9 (IANS) The Central Board of Direct Taxes is stepping up efforts to recover Rs 2.57 lakh crore in confirmed tax demands in the current fiscal year, a report has said.Under the enforcement drive, special teams will track the top 10,000 high‑value arrear cases nationwide in FY27, the tax department officials told NDTV Profit.Tax recovery and compliance monitoring will see a technology-driven push from artificial intelligence, data analytics and digital forensics, they said.The CB…