Budget, govt-RBI bonhomie giving FIIs a lot of optimism
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Last Updated: Feb 11, 2021, 11:10 AM IST
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Synopsis
The recognition and the focus on social infrastructure, health and well-being and addressing the need for inclusive growth was a welcome positive.
MD, Freedom Financial Services LLC
Sachdev is MD, Freedom Financial Services LLC and Senior Advisor, Brandeis University. He has over 26 years experience in the global financial services in various leadership positions building game-changing asset management businesses.
The Indian Budget last week was a good step forward to bring more transparency to the process. The government’s acknowledgment of the expected fiscal deficit was clearly a step in the right direction. Additionally, the recognition and the focus on social infrastructure, health and well-being, and addressing the need for inclusive growth was a welcome step.
February 8, 2021
Startups in India will be able to avail financial assistance under the Rs 1,000 crore Startup India Seed Fund starting from April 1, 2021, the Commerce Minister of State Som Prakash informed Rajya Sabha last week. The scheme, announced by Prime Minister Narendra Modi in January, aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialisation.
Rs 945 crore will be divided over the next four years for providing seed funding to eligible startups through eligible incubators across India. The scheme is expected to support about 3600 startups, Prakash said. He was responding to questions raised by YSRCP’s Venkataramana Rao Mopidevi.
ICICI Lombard gets nod to open international financial services centre unit
The offshore unit will enable ICICI Lombard to harness new opportunities in direct insurance and reinsurance areas
PTI | February 6, 2021 | Updated 10:21 IST
Private non-life firm ICICI Lombard on Friday said it has received approval from international financial services centre (IFSC) to open an offshore insurance office in Gift City in Gandhinagar, making it the first private general insurer to do so.
The offshore unit will enable ICICI Lombard to harness new opportunities in direct insurance and reinsurance areas by offering offshore direct insurance solutions, especially to domestic corporates and individuals located overseas, thus expanding its international business, the company said.
Synopsis
The rates have been kept at a record low, and some of the current lending schemes have been extended to fuel growth.
Monetary Policy highlights: RBI restores CRR, allows online access to government securities market
NEW DELHI: The Reserve Bank of India (RBI) on Friday took a calculated approach and announced a number of measures which will not just infuse more money in the system but also create a path towards normalcy.
The rates have been kept at a record low, and some of the current lending schemes have been extended to fuel growth. The RBI also created avenues for more retail participation in funding India’s growth. However, the policy announcement failed to assuage the debt market which is fearing a rise in yields.
May club small airports with bigger ones in third round of privatisation: Kharola
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May club small airports with bigger ones in third round of privatisation: Kharola
Saurabh Sinha / TNN / Feb 4, 2021, 20:35 IST
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(Representative image)
NEW DELHI: The third round of airport privatisation, aimed to be completed next fiscal, will cover six to ten airports. The government will this time club small, loss-making airports with profitable ones that bidders wish to acquire, aviation secretary P S Kharola said on Thursday.
These airports, like the second round covering taking PPP route for six airports, will also be leased out for 50 years.