Markets regulator Sebi (Securities and Exchange Board of India) on Friday tweaked asset allocation framework for multicap mutual funds, asking such funds to have a minimum corpus of 75 per cent invested in equities as against the present mandate of 65 per cent. Further, such funds will have to make a minimum investment of 25 … Read more
London-based wealth management giant Capital International Group on Friday bought 4.6% stake from Max group’s founder Analjit Singh in Max Healthcare for around ₹515 crore. Two persons aware of the development confirmed this, adding that proceeds from the stake sale by Singh will primarily be used for paying off the debts that Singh owes in … Read more
Indian conglomerate Reliance denied a report Thursday that it was planning to sell a $20-billion stake in its retail business to US rival Amazon in a deal that could upend the country’s hugely lucrative e-commerce sector. The report published by Bloomberg on Thursday said that Reliance, owned by Asia’s richest man Mukesh Ambani, had offered … Read more
Become a technology led facilitator and not a traditional lender
Alternet Systems, Inc. (USOTC: ALYI), like all electric (EV) vehicle industry participants, recognizes that battery cost and driving range are key factors in clearing the way to the widespread adoption of electric vehicles. Recent battery technology advances are now bringing the EV industry close to a wide spread adoption “tipping point”. The Great Battery … Read more
The inflation surge seen four decades ago kicked off “a fabulous ‘disinflationary,’ two-decade performance in both the economy and the stock market,” he wrote in a recent note. With policymakers setting the stage for a rise in inflation, the US is on track to usher in a similarly fruitful expansion, the strategist added. Detailed below … Read more
The RBI on Saturday came up with revised long format audit report (LFAR) norms with a view to improving the efficacy of internal audit and risk management systems. The LFAR, which applies to statutory central auditors (SCA) and branch auditors of banks, has been updated keeping in view the large scale changes in the size, … Read more
The topic of the meeting is ‘Final discussion on GDP growth, tax buoyancy of the Centre and the States, GST compensation, revenue deficit grant and fiscal consolidation’ The 15th Finance Commission will hold a meeting with its economic advisory panel on Friday to discuss issues of GDP growth, GST compensation and fiscal consolidation. Chairman N.K. … Read more
