Funds

The Finance Ministry on Thursday allowed Andhra Pradesh to borrow an additional Rs 1,515 crore for undertaking power sector reforms. As part of the reforms, the state has started Direct Benefit Transfer (DBT) of electricity subsidy to farmers with effect from September 2020. Thus, it has successfully implemented one of the three stipulated reforms in the power sector. "Successful implementation of the reform has made the State...

The finance ministry has released the 13th weekly instalment of ₹ 6,000 crore to the states on Monday to meet the goods and services tax (GST) compensation deficit. In total, ₹ 5,516.60 crore has been released to 23 states and ₹ 483.40 crore has been released three union territories with legislative assembly (Delhi, Jammu & Kashmir & Puducherry) who are...

Reliance Industries' telecommunications subsidiary Reliance Jio's clocked a consolidated net profit of ₹ 3,489 crore, a of 15.5 per cent quarter-on-quarter increase, in the December (Q3) quarter on Friday. The telecom company recorded a net profit of ₹2,844 crore during the September quarter. In the quarter-over-quarter terms, Jio's profit was ₹ 1,350 crore. During the December quarter of FY21, the...

Bitcoin fell heavily on Friday and was heading toward its sharpest weekly drop since last March, as worries over its technology and regulation extended a pullback from recent record highs. The world's most popular cryptocurrency fell more than 5 percent to an almost three-week low of $28,800 (roughly Rs. 21 lakhs) in the Asia session, before steadying around $30,000 (roughly...

The rupee gained for the second straight day and closed 12 paise higher at 73.05 (provisional) against the US dollar on Wednesday, supported by a rally in domestic equities and a weak American currency. At the interbank forex market, the rupee opened at 73.11, and hit an intraday high of 73.05 and a low of 73.14. It finally finished at 73.05,...

Mindtree shares gained nearly 4 per cent in early morning trading after the information technology company owned by Larsen & Toubro (L&T) posted a 65.7 per cent year-on-year rise in net profit to ₹ 326.5 crore for the third quarter ended December on the back of improvement in operational efficiencies. At 9:30 am, the shares of Mindtree were trading...

Enables micro, small and medium businesses to restart operations & recover from COVID-19 crisis The pioneering buy-now-pay-later financing facility on SOLV’s platform helps MSMEs with- Instant invoice financing for as low as Rs. 3,000 and a flexible credit period from 15 - 60 daysWith the alternate data on its platform, SOLV provides segment analysis to match financier and borrower requirementsSOLV targets...

The domestic stock markets have opened on a subdued note this morning, after coming off life-time highs in the previous trading session. At 9:20 am, the Sensex was at 49,432.65, lower by 58 points or 0.12 per cent and the Nifty was at 14544.80, down 25 points or 0.16 per cent. Asian equities made early trading gains on Thursday after a...

The S&P BSE Sensex and NSE Nifty 50 indexes opened lower in trade on Tuesday on the back of weakness in banking and financial services shares after the Reserve Bank of India warned that the banks may see bad loans double despite signs of an improvement in the economic impact of the COVID-19 pandemic. Meanwhile, weakness in other Asian...

Domestic stock markets continued a record-breaking spree on Monday, with the S&P BSE Sensex index trading above the 48,000 mark for the first time ever, tracking record highs in Asian equities as investors pinned their hope on vaccines to eventually deliver a global economic upturn. The Sensex jumped 299.24 points, or 0.63 per cent, to an all-time high of...