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The Air India (AI) employees’ consortium and Kolkata-based businessman Pawan Ruia have not qualified for the second round of the sale process for the national carrier. This leaves Tata Sons as the only entity that has confirmed its participation in the bidding process. While media reports said SpiceJet promoter Ajay Singh is also in the reckoning, Business Standard couldn’t verify this claim. Read more
India ready to appeal Cairn s $1.2 billion arbitration award this week A day after British oil firm Cairn Energy pressed for honouring the over $1.4-billion international award on a tax dispute, finance ministry officials said New Delhi was preparing to appeal at The Hague this week. The Union government has finalised the grounds for appeal against the award and is in the final leg of discussions with the Dutch counsels, according to officials. Based on the appeal, India will apply for a stay on the enforcement of the award at a lower Dutch court. Read more
Updated Feb 25, 2021 | 06:11 IST
Bank fixed deposits are considered safe because all commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC These banks are offering highest interest rates on FDs
New Delhi: The Reserve Bank of India in its last monetary policy review meeting of the current fiscal decided to keep the repo and reverse repo rates unchanged at 4% and 3.35%. Note that assured returns, high liquidity, and ease of investments make fixed deposits one of the most popular investment instruments in our country, especially among risk-averse investors like senior citizens.
But it may not be the best option for NRIs
A new investment avenue is available to retail investors with India’s central bank allowing them to invest in government bonds for the first time.
The Reserve Bank of India has opened up the government securities market for retail investors by permitting them direct online access to the government bonds market.
India is the first Asian country to allow direct retail participation in the government securities market.
Only a few countries, including the US and Brazil, permit retail investors direct access to government bonds, both primary and secondary.
“Retail investors can now directly buy and sell government bonds, also called gilts, online. With this, more investment instruments are open for retail investors; besides bank fixed deposits, fixed income mutual funds and government small savings schemes such as public provident fund,” said Binoo Nayyar, chief financial officer at TrendRiser Securities, Dubai.