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Centre To Sell IDBI Bank, Will Keep Some Stake: Sources

Snehashish RoyFebruary 4, 20220

Centre is planning on selling IDBI Bank by the end of March, however, will keep a part of its stake to itself, the secretary of the department of investment and public asset management (DIPAM) Tuhin Kanta Pandey told The Indian Express. The sale will be made through an expression of interest (EOI). The process of sale will include the Centre filing the Draft Red Herring Prospectus (DRHP) of the Life Insurance Corporation (LIC). It will be made by the next week with the market regulator. The primary prospectus is expected to be listed on stock exchanges by the end of this financial year. LIC holds the management stake in IDBI Bank with a 49.24% share. Whereas, the Government of India holds a 45.48% stake in the bank. Pandey said the detailed consultations have been made with the ...

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BJPBusinessFinanceIndiaLatest NewsTRENDING

Crypto Tax First Step To Legalize Digital Currency In India: Details Inside

Sonia SolankiFebruary 2, 20220

Crypto tax or digital assets will be taxed at 30%, as announced by Union finance minister Nirmala Sitharaman. This will be the highest tax band in the country. "I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition," Sitharaman said. She also said that currency lies with RBI only, other than that is a crypto asset and will see 30% tax. Cryptocurrencies will be treated as digital assets. U-turn On Banning Cryptocurrency At the end of last year, there were strong rumours that the Indian government is planning to ban all cryptocurrencies. But presenting a digital asset tax of 30% s...

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ArticleElectionsFinance

After Elections, These States To Focus On Repayment Of Loans, Know What RBI Report Says

Aditi priya singhJanuary 14, 20220

After the assembly elections in February-March, 2022, whichever party's government is formed in Uttar Pradesh, Punjab, Uttarakhand, and Goa, it is certain that these governments will have to make a lot of effort to bring the economy of their state back on track. During the last four-five years, studies and indicators related to the budget documents of these states show that along with stopping the increasing debt liabilities, the coming governments will have to increase the revenue sources and bring about a huge improvement in the quality of investment. Attention will be given to education and health. Not only this, special attention will have to be paid to the expenditure in the areas of social development like education and health in the total expenditure, only then the social...

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IndiaInternationalLatest News

Big News On Cryptocurrency: Bill Will Not Come In This Session Of Parliament! Know What Is The Reason

Gunjan ChaudharyDecember 16, 20210

Cryptocurrency remains the hottest issue of the present time. Seeing the interest of investors towards this, a bill was prepared by the Central Government in a hurry to manage this. It was being said that it would be introduced and passed in this winter session. But, a recent report has raised the possibility that the cryptocurrency bill may be difficult to pass in the ongoing winter session of Parliament. A big news is coming on the cryptocurrency bill. A senior government official has informed that the government is considering a proposed framework for cryptocurrencies. It is understood that this bill will probably not be introduced in this winter session of Parliament. The report quoted sources as saying that the much-awaited cryptocurrency law will not be introduced in Parliamen...

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