At the heart of the complex web of bits and bytes that is the modern financial system is the ability to exchange and transfer capital (money) between various participants in an economy. Borrowers, lenders, investors and entrepreneurs form the four corners of this very busy square. Traffic flow and participants can either be controlled and owned by the government as it was in India till 1991, or it can be regulated by a set of independent regulators appointed by the government, as it is today in 2021.
When we see the hectic activity in the Indian financial system today, we tend to forget what it was like just 30 years ago in terms of scale, products, efficiency, cost and service. The sole job of a financial system is to trundle money around to find its optimal use in terms of returns at a low-cost and safety of transactions. But the centrally planned Indian economy used the state-owned financial institutions such as banks and insurance companies to gather household savings for its
Pension funds have been missing out on good opportunities to invest in initial public offerings but soon pension fund managers will be allowed to invest in IPOs. Comprehensive guidelines on the matter are expected within a week. More on that story and other headlines.
Centre mulls Ordinance for past tax assessment as litigation mounts
The government is exploring legal options, including bringing an Ordinance, to tackle the problem of income-tax litigation on reassessment notices under old, time-barred norms, according to official sources. This has come in the wake of writ petitions filed by companies and individuals in recent weeks to challenge the validity of the notices issued by the tax department between April 1 and June 30 and under the old norms.
PFRDA expands investment universe for pension funds - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Monsoon session of Parliament begins today | What to expect
Monsoon session of Parliament begins today | What to expect
The Monsoon session of Parliament will begin on Monday and is scheduled to conclude on August 13. Here are the top developments so far and what to expect from the session.
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UPDATED: July 19, 2021 08:09 IST
The Monsoon session of Parliament will begin on Monday and is scheduled to conclude on August 13. (Photo: PTI file)
The Monsoon session of Parliament will kick off on Monday, with the
government set to push 17 new bills even as the Opposition will seek to corner the ruling dispensation over its handling of the second wave of Covid-19 and the rise in fuel prices.
Domestic equity indices look set to see a gap-down start, tracking weakness across Asian markets amid concerns over rising cases of Covid’s Delta variant. All eyes will be on the listing of GR Infra and Clean Science. Investors may also react to HDFC Bank s Q1 results and await quarterly earnings from HCL Tech and ACC, scheduled for today. Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on Singapore Exchange traded 238 points, or 1.49 per cent, lower at 15,698.50, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty50 on Friday hit an all-time high of 15,962 but settled flat. Analysts took heart in the fact that the index managed to stay above the 15,900 level.