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India imported 651.24 tonnes of gold in financial year 2020-21 as compared to 719.94 tonnes in the year-ago period, the government said on Wednesday. In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Anupriya Patel said the imports stood at 982.71 tonnes in FY 2018-19. Replying to another question, she informed that the import of toys, games, sports equipment from China is showing a declining trend. “The imports of Read More

The government has filed updated draft papers with market regulator Sebi for an initial public offer of LIC, incorporating December quarter financials of the insurance behemoth, an official said on Monday. In the run-up to the mega IPO, on February 13, the government had filed the draft red herring prospectus (DRHP) with the regulator giving details of financial results till September. The DRHP got Sebi approval early this month. “Updated DRHP of LIC with December Read More

Capital markets regulator Sebi has amended the rules pertaining to investment aspects of certain category of alternative investment funds (AIFs). Under the rules, Category III AIFs can invest not more than 10 per cent of the investable funds in an investee company, directly or through investment in units of other AIFs, Sebi said in a notification on Wednesday. Various types of funds such as hedge funds, PIPE Funds, etc. are registered as Category III AIFs. Read More

The Indian Rupee is expected to appreciate on Tuesday amid weakness in the dollar, optimistic sentiments in the domestic markets. However, expectations of higher PPI data from the US is expected to provide some support to the dollar. “US$INR (March) is likely to move towards 76.30 for the day,” said ICICI Direct. Rupee inched slightly lower on Monday against the US Dollar. At the interbank foreign exchange market, the local unit opened at 76.63 against Read More

Capital markets regulator Sebi on Monday released a list of nine individual defaulters who are untraceable. The Securities and Exchange Board of India (Sebi) said even though recovery certificates were drawn up against nine individuals by the recovery officer, these notices could not be served on the defaulters at their last known addresses. These notices were issued from June 2014 to November 2021, according to a notice. The recovery proceedings are initiated against the defaulters, Read More