SBI Funds raises Rs 2,663 crore from anchor investors ahead of IPO

Kolkata: India’s foreign exchange reserves surged by nearly $50 billion since July as inflows swelled into the banks’ foreign currency non-resident bank (FCNR-B) following the Reserve Bank of India’s measures to attract dollars. The forex stockpile rose $9.905 billion in the week to August 14 taking the kitty to $716.90 billion, RBI data showed, marking…

Shares of Zee Entertainment Enterprises (ZEEL) rallied as much as 8% to a day’s high of Rs 105 on the BSE on Friday after the Securities Appellate Tribunal (SAT) granted interim relief to the company in its case against the Securities and Exchange Board of India (SEBI). SAT stayed the SEBI order against Zee Entertainment…

The Income Tax Department’s e-Nivaran facility allows taxpayers to lodge complaints and raise grievances related to return filing, refunds, PAN, TDS, demand notices, and other tax services. This online grievance system is available to both registered and unregistered users, with complaints routed to the relevant department for resolution. What is e-Nivaran? e-Nivaran is the grievance…

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the Income Tax Department cannot treat an alleged cash payment made for a property purchase as undisclosed income merely because a taxpayer’s name appears in documents seized from a builder during a search. In a significant ruling in Sanjeet Kumar Kedarnath Gupta…

Non-Resident Indians (NRIs) have several options to invest in gold in India, including physical gold, gold mutual funds and Gold ETFs. However, NRIs cannot make fresh investments in Sovereign Gold Bonds (SGBs) under the existing rules. SGBs are government securities denominated in grams of gold and are issued by the Reserve Bank of India (RBI)…

Mumbai: Shares of Muthoot Finance have fallen by nearly 8% in two trading sessions since August 1 after the country’s largest gold loan company reported a decline in net interest margin and loan yields for the June quarter. Yields are likely to remain under pressure this year due to elevated borrowing costs and increasing competition…