George Alexander Muthoot says the firm will prioritise gold loans due to strong demand and regulatory pressure on unsecured lending, as MFI exposure is scaled down

Muthoot Finance

Business Standard

Devangshu Datta

Vijay Shekhar Sharma and One97 Communications settle Sebi case on Esop violations with penalties and a three-year ban on accepting stock options from listed firms

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CLOSING BELL:  The S&P BSE Sensex ended 40 points lower, while the Nifty50 was down 34 points. Shares of Adani Group tumbled up to 7 per cent, with Adani Enterprises leading the fall.

Gold

Accuses tech giant of charging an "exorbitant" commission without providing additional service, while India's entire payment industry is working on 1-5% service fees

Google

A special meeting called at the Municipal Corporation of Delhi headquarters on Tuesday to discuss and deliberate on the civic budget was adjourned for the day soon after it convened.
Mayor Shelly Oberoi said the session would resume at 2 pm on Wednesday.
A few members had said that they did not get adequate time to go through the budget document and so time has been allowed till the session resumes on Wednesday, she said.
Tuesday's session was scheduled to commence at 2 pm but began 15 minutes late. Proceedings had taken place for a brief period when the mayor adjourned the session.
As required by the norms, the civic budget is to be cleared by March 31.
The Municipal Corporation of Delhi (MCD) passed the "schedule of taxes" in the civic budget for 2023-24 on February 15. But the remaining budget process was stalled as the civic body's standing committee is yet to be elected.
The MCD had earlier said the "special budget meeting" for proposals for the Revised Estimates for 2022-20

Mayor Shelly Oberoi

Tuesday's session was scheduled to commence at 2 pm but began 15 minutes late. Proceedings had taken place for a brief period when the mayor adjourned the session

Press Trust of India

The government is working to bring down logistics cost to GDP to 7.5 per cent from the current 13 per cent, Union Home Minister Amit Shah said Tuesday.
Addressing the annual session of Assocham, Shah said, without the development of the country's infrastructure and reduction of logistics costs, development was not possible.
The logistics cost in India is 13 per cent to the GDP as compared eight per cent in the rest of the world, making it difficult for Indian exports to compete globally, he said.
"We will have to remove the eight per cent and 13 per cent gap. We have formulated a framework for the next five years. I can assure you that we will reach 7.5 per cent logistics cost in the next five years," he said.
Shah said the Narendra Modi government has made a plan of Rs 100 lakh crore investment in infrastructure with some mega projects such as the doubling of railway lines, their widening, dedicated freight corridors from Mumbai to Delhi and Amritsar to Kolkata besides 11 other ..

Amit Shah

The minister expressed confidence that the Modi government has laid a strong foundation for making India a developed nation by 2047 and a USD 5 trillion economy by 2025

Under the aegis of India's G20 Presidency, a 11-member expert group has been set up to suggest measures to strengthen multilateral development banks (MDBs).
The finance ministry in a statement said Professor Lawrence Summers ( President Emeritus, Harvard University) and N K Singh (Former Chairperson, 15th Finance Commission of India) are co-convenors of the G20 Expert Group on strengthening MDBs.
The panel would work on making a road map for an updated MDB ecosystem for the 21st century, touching upon all aspects of MDB evolution, and mechanisms for coordination among such banks to address and finance global development and other challenges more effectively.
The panel would also evaluate various estimates regarding the scale of funding required by and from MDBs for addressing their and member countries' increased financing needs for SDG and transboundary challenges.
The expert group will submit its report to the Indian Presidency of G20 before June 30, 2023, the ministry said.

The expert group will submit its report to the Indian Presidency of G20 before June 30, 2023, the ministry said

The repatriation of profits from Pakistan by foreign companies dropped by 80.4 per cent during the first eight months of the current fiscal year starting from July 2022 to June 2023

Pakistan bank, Bank

IANS

The Asian Development Bank (ADB) signed a $41 million financing package with the Bank of Maldives (BML) on Tuesday to support locally owned small and medium-sized enterprises (SMEs) and tourism

Textile industry, Tiruppur

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Muthoot Finance to go slow on MFI biz amid stress in the segment: MD

Research Report

Muthoot Finance to go slow on MFI biz amid stress in the segment: MD

Research Report

Sebi bars Paytm's Vijay Shekhar Sharma from accepting Esops MODIFIED

Research Report