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Government Greenlights Unified Pension Scheme, Benefiting 23 Lakh Employees Nationwide
The financial burden for arrears under this scheme has been outlined by the government as Rs 800 crore, with an anticipated annual cost increase of about Rs 6,250 crore in the first year. The scheme is likely to be implemented from April 1, 2025, and Central government employees will have the option to opt either for NPS or UPS. Existing subscribers of the Centre's NPS, too, will be provided with an option to shift to the UPS.
FPIs Divest Rs 32,684 Crore in Equities, Invest Rs 11,483 Crore in Primary Market
This may continue even if the market turns more optimistic on the back of reduced fears of a U.S. recession. According to Vipul Bhowar, Director Listed Investments at Waterfield Advisors, "Global concerns about the unwinding of the Yen carry trade, potential global recession, slowing economic growth, and ongoing geopolitical conflicts have all contributed to market volatility and a rise in risk aversion.".
FPIs Invest Approximately Rs 65,000 Crore in a Year Amid Stable Market Conditions
According to data from depositories, while FPIs invested a total of Rs 1,82,965 crore in this period, net divestment stood at Rs 1,18,141 crore.
FPIs Invest Rs 54,727 Crore Boosted by Positive Growth Projections for FY25
An economic survey released last week before the Union Budget pegged the growth rate for the country at 6.5% to 7% for 2024-25.
Display names & mobile numbers outside business establishments: MP Government
First, these new guidelines will be applied in the sacred city of Ujjain. The name and contact number of the owner outside shops, hotels, and eateries will be compulsive, according to Ujjain Mayor Mukesh Tatwal. The non-compliance will attract a fine of Rs 2,000 for the first violation and Rs 5,000 for the subsequent violations.
Foreign Investors Inject Rs 44,344 Crore into Stock Markets Ahead of Union Budget
In detail, FPIs invested Rs 30,771 crore in equities and Rs 13,573 crore in debt. Their interest in investment was across sectors like automobiles, capital goods, healthcare, information technology, telecommunications, and oil and gas. Most interestingly, financial services remained an exception and has been the reason for its subdued performance in July, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.
Maldives Trade Minister Seeks Chinese Bank Alliances Amid Fitch Downgrade to Junk
Saeed, who is in China to attend the 15th World Economic Forum in Dalian, sat down with chiefs of the China Industrial and Commercial Bank over current relations between the parties and how to elevate the cooperation to benefit both. He later met with high-ranking officials of the Bank of China.
Government Bonds Valued at Rs 28,000 Crore Set for Friday
The offering will be divided into three lots. The first lot consists of "7.33 per cent Government Security 2026" worth Rs 6,000 crore, and the second lot, namely "7.23 per cent Government Security 2039," is worth Rs 10,000 crore, and the third lot, namely "7.34 per cent Government Security 2064," is worth Rs 12,000 crore.
Government to Auction Rs 32,000 Crore in Bonds on April 26
The auction will feature two tranches: the first is a Rs 20,000 crore issuance of "7.1 per cent Government Security 2034", and the second is a Rs 12,000 crore issuance of "7.46 per cent Government Security 2073".
Upcoming Government Bond Auction: Rs 24,000 Crore on Offer This Friday
In the first segment, the offering includes the '7.37 per cent Government Security 2028,' set at a notified amount of Rs 12,000 crore, utilizing a price-based auction employing the multiple price method. Meanwhile, the second category comprises the 'New Government Security 2064,' totaling Rs 12,000 crore (nominal), to be auctioned through a yield-based approach, also using the multiple price method.
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