The central bank has also asked chairpersons and chief executives of banks and other financial services, which are into lending business, to make the changes effective immediately.
The investment was first announced during the US visit of Prime Minister Narendra Modi in June 2023 and construction had begun in September.
“There is no immediate deadline or cliff for FPIs to liquidate any holdings,” sources said. Sebi had earlier asked FPIs to bring down such exposure by January 29, 2024.
The previous high was recorded at 12.6 per cent growth in June 2022. The IIP growth for July has been revised to 6 per cent from 5.7 per cent provisional estimates released last month.
In October 2022, RIL said it would demerge its financial services undertaking into RSIL, which will be renamed Jio Financial Services Ltd (JFSL).
In late morning trade, the stock dived 1.62 per cent to Rs 3,551.25 apiece on the NSE. On the BSE, TCS shares declined by 1.6 per cent to Rs 3,552.60 per piece, emerging as the biggest loser among Sensex shares.
The 1,200 MW project is run by Sikkim Urja Ltd (formerly Teesta Urja), which is 60 per cent owned by Sikkim Power Investment Corporation Ltd (SPICL). Asian Genco TUL Pte Ltd owns 30.16 per cent stake in the company.
Boeing has emerged as the front-runner to secure an order for around 25 wide-body planes from IndiGo, industry sources told Reuters on Monday, as India’s biggest airline deepens its international expansion with new destinations.
The government has invited applications from exporters to allocate quota for exports of wheat to Bhutan during 2023-24 on humanitarian and food security grounds.
In an interview on the sidelines of Green Tourism India Conclave, Shillong, Nakap Nalo, Minister for Tourism, Arunachal Pradesh, talks about the state’s responsible tourism practices and recent achievements