The Securities and Exchange Board of India is thinking of strategies to discourage individual investors from gambling carelessly in the equity derivatives market. In order to limit excessive trading and speculation, the regulator may require risk profiling and income declarations from investors, among other things. An individual with knowledge of the situation said the regulator is worried about investors losing money in the F&O segment and is looking into ways to inform investors and deter them from taking unwarranted risks. The individual added that approximately a fifth of retail investors trading in futures and options, or F&O, may be millennials, and another fifth may be senior citizens.
The Adani group has, in the meantime, obtained a letter of intent from the communications department to offer telecom services in the Gujarat circle. After receiving the official licence, Adani Data Networks, a wholly owned subsidiary of Adani Enterprises, can offer wireless internet services in addition to landline broadband. Analysts interpret the group’s move as the first step before a full-fledged entry into the telecom sector in the future. The company has already stated that it is participating in the 5G spectrum auctions on July 26 to build a private network for its data usage. Letters of intent for both domestic and international long-distance services have been awarded to Adani Data Networks, the entity via which Adani Group will participate in 5G spectrum auctions later this month.
These permits would apply to the group's data centre operations, where both domestic and international data transfers are necessary.
Nirmala Sitharaman, the finance minister, stated on Tuesday that the "pointed battle" on inflation must continue and that she has been keeping an eye on pricing pressure "item by item" because high inflation ultimately slows GDP. The central bank and the government will need to exercise caution up until the start of the second half of the year, according to Sitharaman's comments to a group of reporters. She advised us to exercise caution and keep an eye on the direction of price movement.
Sitharaman stated that she would continue to keep an eye on each item in order to control prices for anything that went out of control. It will be necessary to continue taking direct aim at inflation. On the same day that the minister made his statement, official data revealed that retail inflation declined for a second consecutive month to 7.01 percent in June after falling from a 95-month high of 7.79 percent in April.
Going forward A suggestion that banks be allowed to roll out provisions for their treasury losses from the June quarter across four quarters was rejected by the Reserve Bank of India. According to reliable sources, the central bank informed banks that requested the concession of its decision last week in writing.
The RBI did not reply to an email addressed to it asking for comment as of the time of publication. According to Icra, increasing bond rates could result in mark-to-market losses for Indian banks in their bond holdings of up to Rs 13,000 crore in the quarter ending June 2022.
In another development, sources informed FE that on Tuesday, a ministerial panel submitted to the GST Council's Law Committee for review issues highlighted by industry representatives over the proposed tax rate rise on online skill gaming from 18 to 28 percent and taxation issues relating to casinos. The sources said that the group of ministers has also been granted till August 10 to present its report, extending the previous deadline of July 15.
Instead of the first week of August, the GST Council will meet in the third week, in order to accommodate the next Parliamentary session and Independence Day.
May had a 12-month record for industrial output growth of 19.6% over the same month last year, up from 6.7% in April. This increase was made possible by a favorable foundation created by the second Covid-19 wave in May 2021. The growth indicates that, despite a spike in input costs following the Russia-Ukraine crisis, economic activity continues to gain some pace. However, the index of industrial production growth fell to 1% month-over-month in May from 4.6 % in April on a seasonally adjusted sequential basis. This shows that a genuine and long-lasting recovery has not yet begun.
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