The cumulative market capitalisation (m-cap) of the companies listed on the BSE soared to a new peak of Rs 90,36,541 crore on Monday. This is the first time in history that the total investor wealth has crossed the Rs 90-lakh-crore mark.

Total investor wealth rose more than Rs 10 lakh crore in less than a month after a victory of Narendra Modi-led National Democratic Alliance in the recently concluded general election. The market value of all BSE companies was about Rs 79,76,000 crore on May 15, a day before declaration of the general election result. The benchmark S&P BSE Sensex has rallied seven per cent or 1,675 points since then.

In a move aimed at creating liquidity buffers in banks, the Reserve Bank of India (RBI) has mandated the lenders to maintain 60 per cent liquidity coverage ratio (LCR) from January 1, 2015. Also, the central bank suggested a phased manner in which the ratio will have to increase to 100 per cent by January 1, 2019. Equal quantum of increase has been suggested for every year, till 2019.

Finance Minister Arun Jaitley on Monday reached out to states and sought their cooperation in implementing the Goods & Services Tax (GST) soon, tackling inflation, addressing fiscal challenges, and implementing the food security law in a cost-effective and efficient manner.

The Gujarat government is has set the ball rolling on developing a Japanese industrial cluster near the Maruti Suzuki India Ltd (MSIL) factory at Hansalpur.

Already, the area has managed to attract projects from leading Japanese companies like Honda Motorcycle and Scooter India (HMSI), a subsidiary of Mitsubishi Aluminium company, around four medium sized engineering companies from Japan, apart from the MSIL plant, which is to be built by a wholly owned subsidiary of its Japanese parent Suzuki Motor Corporation.

A complicated maze of 338 bank accounts and 224 companies was used by the perpetrators of the Saradha chitfund scam which is alleged to have duped numerous investors of their hard earned monies in various states including West Bengal, Odisha and Assam.

The Enforcement Directorate (ED), which has been probing the Saradha scam under money laundering laws, has put together the jigsaw puzzle through which the Saradha group and its sister companies conducted the alleged dubious business transactions which came to light early last year after investors raised their voice and said they were cheated.

Amid searing heat, a possibly deficient monsoon and serious financial challenges, including the problem of how to tackle the retrospective taxation issue, President Pranab Mukherjee's address to a joint sitting of the two Houses of Parliament on Monday is likely to spell out the road map of the new Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) government.

The government in its forthcoming Budget is set to encourage health insurance by giving policy holders increased deductions for tax purposes.

In addition, the government is also considering additional deductions for investment in long-term infrastructure bonds with an objective to channelise public savings into the financing of infrastructure, said an official privy to the development.

Gautam Buddh Nagar was locked down on Sunday after the killing of BJP leader Vijay Pandit in Dadri late on Saturday triggered widespread violence in the area. Police also issued prohibitory orders and detained four persons.

Meanwhile, demanding a CBI enquiry into the killing, Pandit’s wife and chairman of Dadri Municipal Corporation Nagar, Geeta Pandit, claimed her husband’s death was linked to political rivalry between him and local Samajwadi Party leader Narender Bhati. Bhati, however denied the allegations and said he had “no reason to kill Vijay Pandit”.

Mumbai: Indian firms are expected to sell shares worth at least $5 billion (around Rs.29,600 crore) to institutional investors in the next two months, riding on improved sentiment and liquidity in the equity market and hopes that the new government will revive the economy through reforms.

Companies from the infrastructure and finance sectors are among those who are likely to tap the markets, many of whom have begun discussions with bankers and potential investors, investment bankers said.

MUMBAI: The rupee strengthened by 19 paise to 58.98 against the US dollar in early trade today on the Interbank Foreign Exchange market on selling of the American currency by banks and exporters amidst strong local equities.

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