| COMPANY NAME | DETAILS |
| Take Solutions Limited | TAKE Solutions Limited has informed the Exchange about Notice of Shareholders Meeting for Annual General Meeting to be held on 14-Aug-2023 |
| Chemfab Alkalis Limited | CHEMFAB ALKALIS LIMITED has informed the Exchange about Board Meeting to be held on 27-Jul-2023 to consider and approve the Quarterly Unaudited Financial results of the Company for the period ended June 2023 and ESOP. |
| Infosys Limited | Infosys Limited has informed the Exchange regarding 'Infosys Transforms Bendigo and Adelaide Bank s Customer and Employee Experience'. |
| Tata Chemicals Limited | Tata Chemicals Limited has informed the Exchange regarding 'Increase of shareholding in Rallis India Limited'. |
| Happiest Minds Technologies Limited | Happiest Minds Technologies Limited has informed the Exchange regarding a press release dated July 18, 2023, titled "Happiest Minds Technologies Successfully Completes Capital raise of ₹ 500 Crores/US$ 61Mn through a Qualified Institutions Placement (QIP)". |
| Vaibhav Global Limited | Significant increase in volume has been observed in Vaibhav Global Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Vaibhav Global Limited has submitted their response. |
| Adani Ports and Special Economic Zone Limited | Adani Ports and Special Economic Zone Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report'. |
| Adani Ports and Special Economic Zone Limited | Adani Ports and Special Economic Zone Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 08, 2023 |
| Adani Ports and Special Economic Zone Limited | Adani Ports and Special Economic Zone Limited has informed the Exchange that Record date for the purpose of Dividend is 28-Jul-2023. |
| Infosys Limited | Infosys Limited has informed the Exchange regarding 'Announcement under Regulation 30 of SEBI (LODR) - Company Statement'. |
| GATI Limited | GATI Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 |
| LTIMindtree Limited | LTIMindtree Limited has informed the Exchange about Link of Recording |
| The Federal Bank Limited | The Federal Bank Limited has informed the Exchange regarding 'Disclosure of events or information under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.'. |
| Synergy Green Industries Limited | Synergy Green Industries Limited has informed the Exchange about Copy of Newspaper Publication |
| Honeywell Automation India Limited | Honeywell Automation India Limited has informed the Exchange that Register of Members & Share Transfer Books of the Company will remain closed from 04-Aug-2023 to 10-Aug-2023 for the purpose of Dividend. |
| Honeywell Automation India Limited | Honeywell Automation India Limited had intimated the 04-Aug-2023 as the record date. The Company has now informed the Exchange that the Record date has been revised to 03-Aug-2023 for the purpose of Dividend. |
| Dynamic Cables Limited | Dynamic Cables Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 09, 2023 |
| The Ramco Cements Limited | The Ramco Cements Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 10, 2023 |
| JSW Steel Limited | JSW Steel Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results. |
| Reliance Home Finance Limited | Reliance Home Finance Limited has informed the Exchange regarding Outcome of Board Meeting held on July 17, 2023.(a) Appointment of Mr. Shanil Jain as Chief Financial Officer and Key Managerial Personnel of the Company, in terms of the provisions of the Companies Act, 2013, SEBI (LODR) Regulations, 2015 and other applicable laws and regulations, with effect from July 17, 2023. (b) Authorisation to determine materiality of information and disclosures to the Stock Exchange(s).(c) The Registered and Corporate Office of the Company to be shifted with effect from August 1, 2023.(d) Surrender of Certificate of Registration as a housing finance institution to the National Housing Bank and in-principal approval for voluntary liquidation of the Company, subject to requisite permissions, sanctions and approvals. |
Corporate Announcements - NSE
Corporate Actions - NSE
| COMPANY NAME | PURPOSE | EX-DATE |
| Blue Dart Express Limited | Annual General Meeting/Dividend - Rs 30 Per Share | 19-Jul-23 |
| MAS Financial Services Limited | Annual General Meeting/Dividend - Rs 1.85 Per Share | 19-Jul-23 |
| Steel City Securities Limited | Interim Dividend - Re 1 Per Share | 19-Jul-23 |
| Swelect Energy Systems Limited | Annual General Meeting/Dividend - Rs 1.20 Per Share | 19-Jul-23 |
| R. S. Software (India) Limited | Annual General Meeting | 19-Jul-23 |
| Praj Industries Limited | Annual General Meeting/Dividend - Rs 4.50 Per Share | 19-Jul-23 |
| Mahindra Lifespace Developers Limited | Annual General Meeting/Dividend - Rs 2.30 Per Share | 19-Jul-23 |
| Tata Consultancy Services Limited | Interim Dividend - Rs 9 Per Share | 20-Jul-23 |
| HCL Technologies Limited | Dividend - Rs 10 Per Share | 20-Jul-23 |
| Karma Energy Limited | Annual General Meeting | 20-Jul-23 |
| MRF Limited | Annual General Meeting/Dividend - Rs 169 Per Share | 20-Jul-23 |
| Reliance Industries Limited | Demerger | 20-Jul-23 |
Reserve Bank of India sign two MoUs with Central Bank of the UAE
Reserve Bank of India and Central Bank of the UAE sign two MoUs to
(i) establish a Framework to Promote the Use of Local Currencies for Cross-border Transactions and
(ii) cooperation for interlinking their
payment and messaging systems
The Reserve Bank of India (RBI) and the Central Bank of UAE (CBUAE) signed two MoUs today in Abu Dhabi for (i) establishing a Framework to Promote the Use of Local Currencies viz. the Indian rupee (INR) and the UAE Dirham (AED) for cross-border transactions; and (ii) cooperation for interlinking their payment and messaging systems. The MoUs were signed by the Governor of the Reserve Bank of India, Shri Shaktikanta Das and the Governor of the Central Bank of UAE, H.E. Khaled Mohamed Balama. The MoUs were exchanged between the two Governors, in the august presence of the Honourable Prime Minister of India, Shri Narendra Modi and His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE.
The MoU on establishing a framework for the use of local currencies for transactions between India and UAE, aims to put in place a Local Currency Settlement System (LCSS) to promote the use of INR and AED bilaterally. The MoU covers all current account transactions and permitted capital account transactions. Creation of the LCSS would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-AED foreign exchange market. This arrangement would also promote investments and remittances between the two countries. Use of local currencies would optimise transaction costs and settlement time for transactions, including for remittances from Indians residing in UAE.
Under the MOU on ‘Payments and Messaging Systems’, the two central banks agreed to cooperate on (a) linking their Fast Payment Systems (FPSs) – Unified Payments Interface (UPI) of India with Instant Payment Platform (IPP) of UAE; (b) linking the respective Card Switches (RuPay switch and UAESWITCH); and (c) exploring the linking of payments messaging systems i.e., Structured Financial Messaging System (SFMS) of India with the messaging system in the UAE.
The UPI-IPP linkage will enable the users in either country to make fast, convenient, safe, and cost-effective cross-border funds transfers. The linking of Card Switches will facilitate mutual acceptance of domestic cards and processing of card transactions. The linkage of messaging systems is aimed to facilitate bilateral financial messaging between the two countries.
The two MoUs are aimed at facilitating seamless cross border transactions and payments, and foster greater economic cooperation between the two countries.
Motilal Oswal Mutual Fund (MOMF)
Name of the Scheme Motilal Oswal
Developed Market Ex US ETFs Fund of Funds
Type of the Scheme An open ended fund of funds scheme investing in units of global ETFs which track the performance of Developed Markets excluding US
Category of the Scheme: Fund of Funds
Investment Objective :
The investment objective is to generate long term capital appreciation by investing in units of global ETFs which track the performance of Developed Markets excluding US, subject to tracking error, if any. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.
Target amount in NFO: Rs. 10 Crores
Benchmark S&P Developed Ex-U.S. BMI Total Return Index
Plans The Scheme has two Plans:
(i) Regular Plan and
(ii) Direct Plan
Regular Plan is for Investors who purchase/subscribe units in a Scheme through any Distributor (AMFI Registered Distributor/ARN Holder).
Direct Plan is for investors who purchase/subscribe units in a Scheme directly with the Fund and is not routed through a Distributor (AMFI Registered Distributor/ARN Holder).
Each Plan offers Growth Option.
The AMC reserves the right to introduce further Plans as and when deemed fit.
Options (Under each plan)
Each Plan offers Growth Option.
Growth Option-
All Income earned and realized profit in respect of a unit issued under that will continue to remain invested until repurchase and shall be deemed to have remained invested in the option itself which will be reflected in the NAV.
The AMC reserves the right to introduce further Options as and when deemed fit.
Best Stocks for this week - 10th to 14th July 2023
| Name | Price |
| Indian Bank | 308 |
| Petronet LNG Ltd | 230 |
| Torrent Power Ltd | 636 |
| Timken India Ltd | 3,299 |
| Aavas Financiers Ltd | 1,562 |
| Bajaj Electricals Ltd | 1,231 |
| Campus Activewear Ltd | 320 |
RBI appoints Shri P. Vasudevan as new Executive Director
Prior to being promoted as ED, Shri P. Vasudevan was the Chief General Manager-in-charge of the Department of Payment and Settlement Systems.
Shri P. Vasudevan has, over a span of nearly three decades in the Reserve Bank, served in supervision of banks and non-banking financial companies, payment and settlement systems and other areas in the Reserve Bank, including a stint as Member of Faculty in Bankers’ Training College. He has worked in the Central Office as well as Bengaluru, Mumbai and New Delhi Regional Offices of the Reserve Bank.
As ED, Shri P. Vasudevan will look after Department of Currency Management, Corporate Strategy and Budget Department (Areas other than that of Budget & Funds) and Enforcement Department.
Shri P. Vasudevan holds a Bachelor’s Degree in Commerce and is a Fellow of the Institute of Cost Accountants of India. He has a Master’s Degree in Finance and Certifications in Information Systems Audit (CISA), Information Security Management (CISM) and Fintech (National University of Singapore). He is a Certified Associate of the Indian Institute of Bankers (CAIIB) and an alumnus of the Wharton School.
Annual General Meetings this Week
| COMPANY NAME | PURPOSE | EX-DATE | RECORD DATE |
| Oil Country Tubular Limited | Annual General Meeting | 06-Jul-23 | - |
| Kalpataru Projects International Limited | Dividend - Rs 7 Per Share | 06-Jul-23 | 06-Jul-23 |
| Shree Ram Proteins Limited | Rights 1:1 @ Premium Rs 1.30/- | 06-Jul-23 | 06-Jul-23 |
| Vedanta Limited | Annual General Meeting | 06-Jul-23 | - |
| IDBI Bank Limited | Annual General Meeting/Dividend - Re 1 Per Share | 06-Jul-23 | - |
| Coral India Finance & Housing Limited | Annual General Meeting/Dividend - Re 0.30 Per Share | 07-Jul-23 | - |
| Pressman Advertising Limited | Annual General Meeting | 07-Jul-23 | - |
| Pressman Advertising Limited | Dividend - Re 1 Per Share | 07-Jul-23 | 07-Jul-23 |
| CARE Ratings Limited | Dividend - Rs 7 Per Share /Special Dividend - Rs 8 Per Share | 07-Jul-23 | 07-Jul-23 |
| Adani Enterprises Limited | Dividend - Rs 1.20 Per Share | 07-Jul-23 | 07-Jul-23 |
| ACC Limited | Dividend - Rs 9.25 Per Share | 07-Jul-23 | 07-Jul-23 |
| Redington Limited | Dividend - Rs 7.20 Per Share | 07-Jul-23 | 07-Jul-23 |
| Ashok Leyland Limited | Annual General Meeting/Dividend - Rs 2.60 Per Share | 07-Jul-23 | - |
| Delta Corp Limited | Dividend - Rs 1.25 Per Share | 07-Jul-23 | 07-Jul-23 |
| Swaraj Engines Limited | Annual General Meeting/Dividend - Rs 92 Per Share | 07-Jul-23 | - |
| Navin Fluorine International Limited | Dividend - Rs 7 Per Share | 07-Jul-23 | 07-Jul-23 |
| Biocon Limited | Dividend - Rs 1.50 Per Share | 07-Jul-23 | 07-Jul-23 |
| Jayant Agro Organics Limited | Annual General Meeting/Dividend - Rs 5 Per Share | 07-Jul-23 | - |
| Bharat Forge Limited | Dividend - Rs 5.50 Per Share | 07-Jul-23 | 07-Jul-23 |
| Axis Bank Limited | Dividend - Re 1 Per Share | 07-Jul-23 | 07-Jul-23 |
Banker has to give options to select which network card the customer wants - RBI
The Reserve Bank of India released a circular at the public interest regarding the card issuer networks and their agreements with the bakers.
1. The authorised card networks tie-up with banks / non-banks for issuance of debit / credit / prepaid cards. The choice of affiliated network for a card issued to a customer is decided by the card issuer and is linked to the arrangements that the card issuers have with card networks in terms of their bilateral agreements.
2. On a review, it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers.
3. In exercise of the powers conferred under Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007), the RBI being satisfied that it is necessary and expedient, in the interest of payment system and public interest, to do so, hereby, directs as under:
-
Card issuers shall not enter into any arrangement or agreement with card networks that restrain them from availing the services of other card networks.
-
Card issuers shall issue cards across more than one card network.
-
Card issuers shall provide an option to their eligible customers to choose any one among the multiple card networks. This option may be exercised by customers either at the time of issue or at any subsequent time.
These shall be effective from October 01, 2023.
4. Card issuers and card networks shall ensure to adhere to the above requirements in:
-
existing agreements at the time of amendment or renewal thereof, and
-
fresh agreements executed from the date of this circular.
RBI invites comments on draft circular on Arrangements with Card Networks for issue of Debit, Credit and Prepaid Cards
The Reserve Bank of India has today placed on its website the draft circular on Arrangements with Card Networks for issue of Debit, Credit and Prepaid Cards for feedback from stakeholders. Comments / Feedback, if any, may be sent by email to dpssfeedback@rbi.org.in, or by post to the Chief General Manager-in-Charge, Department of Payment and Settlement Systems, Central Office, Reserve Bank of India, 14th Floor, Central Office Building, Shahid Bhagat Singh Road, Mumbai - 400 001, on or before August 4, 2023.
2. The draft circular mandates card issuers (banks / non-banks) to issue cards on more than one card-network along with providing customers the facility to choose any one among the multiple card networks. It also restrains card issuers from entering into agreements that limit their ability to tie-up with other card-networks.
Update on Withdrawal of ₹2000 Denomination Banknotes - RBI
The Reserve Bank of India had announced the withdrawal of ₹2000 banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The total value of ₹2000 banknotes in circulation, which amounted to ₹3.62 lakh crore on March 31, 2023 had declined to ₹3.56 lakh crore as at the close of business on May 19, 2023.
According to the data received from the banks, the total value of ₹2000 banknotes received back from circulation after the announcement on May 19 is ₹2.72 lakh crore up to June 30, 2023. Consequently, ₹2000 banknotes in circulation as at the close of business on June 30 stood at ₹0.84 lakh crore. Thus, 76% of the ₹2000 banknotes in circulation as on May 19, 2023 have since been returned.
Data collected from major banks indicates that out of the total banknotes in ₹2000 denomination received back from circulation, about 87% is in the form of deposits and the remaining around 13% has been exchanged into other denomination banknotes.
Members of the public are requested to utilise the next three months to deposit and/or exchange the ₹2000 banknotes held with them to avoid any rush in the last few days before September 30, 2023.
₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender
The ₹2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act, 1934, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all ₹500 and ₹1000 banknotes in circulation at that time. The objective of introducing ₹2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, printing of ₹2000 banknotes was stopped in 2018-19.
2. About 89% of the ₹2000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years. The total value of these banknotes in circulation has declined from ₹6.73 lakh crore at its peak as on March 31, 2018 (37.3% of Notes in Circulation) to ₹3.62 lakh crore constituting only 10.8% of Notes in Circulation on March 31, 2023. It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public.
3. In view of the above, and in pursuance of the “Clean Note Policy” of the Reserve Bank of India, it has been decided to withdraw the ₹2000 denomination banknotes from circulation.
4. The banknotes in ₹2000 denomination will continue to be legal tender.
5. It may be noted that RBI had undertaken a similar withdrawal of notes from circulation in 2013-2014.
6. Accordingly, members of the public may deposit ₹2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch. Deposit into bank accounts can be made in the usual manner, that is, without restrictions and subject to extant instructions and other applicable statutory provisions.
7. In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of ₹2000 banknotes into banknotes of other denominations can be made upto a limit of ₹20,000/- at a time at any bank starting from May 23, 2023.
8. To complete the exercise in a time-bound manner and to provide adequate time to the members of public, all banks shall provide deposit and/or exchange facility for ₹2000 banknotes until September 30, 2023. Separate guidelines have been issued to the banks.
9. The facility for exchange of ₹2000 banknotes upto the limit of ₹20,000/- at a time shall also be provided at the 19 Regional Offices (ROs) of RBI having Issue Departments1 from May 23, 2023.
10. The Reserve Bank of India has advised banks to stop issuing ₹2000 denomination banknotes with immediate effect.
11. Members of the public are encouraged to utilise the time up to September 30, 2023 to deposit and/or exchange the ₹2000 banknotes. A document on Frequently Asked Questions (FAQs) in the matter has been hosted on the RBI website for information and convenience of the public.
Sectoral Deployment of Bank Credit – May 2023
- Credit growth to agriculture and allied activities accelerated to 16.0 per cent (y-o-y) in May 2023 from 11.7 per cent a year ago.
- Credit to industry registered a growth of 6.0 per cent (y-o-y) in May 2023 as compared with 8.8 per cent in May 2022. Size-wise, credit growth to large industry was 3.9 per cent (2.1 per cent a year ago). Credit to medium industries grew by 18.9 per cent (42.9 per cent last year) and micro and small industries by 9.5 per cent (32.7 per cent a year ago).
- Among major industries, credit growth (y-o-y) accelerated in May 2023 for ‘basic metal & metal products’, ‘beverage & tobacco’, ‘construction’ and ‘textiles’ as compared with the corresponding month of the previous year. Credit growth decelerated for ‘chemicals & chemical products’, ‘food processing’ and ‘infrastructure’.
- Credit growth to services sector accelerated to 21.4 per cent (y-o-y) in May 2023 from 12.7 per cent a year ago, primarily due to the improved credit offtake to ‘Non-Banking Financial Companies (NBFCs)’ and ‘trade’.
- Personal loans expanded by 19.2 per cent (y-o-y) in May 2023 vis-à-vis 16.3 per cent a year ago, mainly driven by ‘housing’ and ‘vehicle loans’.
