E India CA

Professional Updates for Chartered Accountants

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Infosys promoters offer shares worth Rs 2,038 cr for buyback

Infosys promoters, including iconic co-founders N RNarayana Murthy and Nandan Nilekani, have offered to sell as many as 1.77 crore shares -- worth up to Rs 2,038 crore -- in the company's Rs 13,000 crore buyback offer. The promoters group -- which includes most of the founders and their families -- have expressed their intention to ...

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‘Over 60% NBFC-MFIs adopted cashless disbursement models’

Demonetisation and the government’s push to adopt digital transactions have helped NBFC-MFIs’ transition to cashless modes. A study released by Microfinance Institutions Network (MFIN) on adcoption of cash-lite models among microfinance institutions in the country, has revealed that over 60% of NBFC-MFIs have adopted cashless ...

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Yellen Issues Broad Defense of Post-Crisis Financial Rules

Federal Reserve Chair Janet Yellen said any rollback of post-crisis financial reforms should be “modest” because they’ve made the banking system safer and more resilient, rebutting Republicans in Congress and the White House who blame regulatory red tape for holding back the U.S. economy. Yellen, speaking in Jackson Hole, Wy...

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HDFC to raise Rs 2,000 crore via debentures

The country's largest mortgage lender HDFC Ltd will raise Rs 2,000 crore by issuing debt securities on private placement basis. The security-6.96 per cent HDFC, 28 Dec 2018-will be in the nature of secured redeemable non-convertible debentures to be issued on a private placement basis, HDFC said in a regulatory filing. "The object ...

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Norway’s wealth fund earns record $63 billion from investments in first half

Norway's sovereign wealth fund, the world's largest, reaped a record 499 billion Norwegian crowns ($63 billion) from its investments in the first half of the year on the back of rising stock markets, it said on Tuesday. The fund, which generated a return of 6.5 percent on its global assets in the first six months of the year, invest...

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Bonds rebound, call rates turn higher

Government bonds (G-Secs) staged a smart recovery on fresh demand from corporates and banks, and the overnight call money rates turned higher following good demand from borrowing banks amid adequate liquidity in the banking system. The 6.79 per cent government security maturing in 2027 went-up to Rs 101.99 as compared to Rs 101.81...

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Average cash balance with funds steady at 4.9 pct: BofAML

Average cash balance with funds has been steady at 4.9% globally, which is above the past 10-year average of 4.5%. BofA Merrill Lynch August Fund Manager Survey said that profit expectations as a result have turned lower due to high cash balances. Investors continue to favour banks, technology, pharma, insurance and industrials; whil...

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FPI investment in India soars to record $19 bn in 2017

Foreign portfolio investors’ (FPIs) investments in the Indian debt market have crossed a record $19 billion this year. Friday saw the first outflow of $107.35 million in almost two weeks, taking the net inflows so far to $18.96 billion. In chase for high yields, foreign investors having nearly utilised the investment limits availab...