Kishore Biyani's Future Group has seen a turnaround in home retailing after months of decline, on the back of improved consumer sentiments and focused merchandising plans, a key group executive said.
The Maharashtra government has decided to increase floor space index (FSI) to 3 from the current 2.5 for buildings which have come up between 1940 and 1960. The decision opens up the possibility for redeveloping 16,461 old buildings.
Faced with a rising number of customer complaints on excessive charges, the Reserve Bank of India has asked the Indian Banks' Association to come up with guidelines on what the reasonable charges should be.
Tighter norms, better economy reduce credit card non-performing assets.
Litigation, regulations and the process of seeking approvals have also discouraged some developers.
Reliance Brands, a group company of Reliance Industries, began operations two years earlier to launch premium-to-luxury domestic and international brands and also set up retail stores for them.
The exit of the big movers has meant more opportunities for local players such as Nambiar Finance, which is just one of the 1,465 non-deposit-taking NBFCs registered with the Mumbai office of the Reserve Bank of India.
After the euphoria, "affordable" realty developers are faced with the reality of excesses.
Because of oversupply and rising vacancy levels in cities such as Delhi, Mumbai, Bangalore, among others, rentals are expected to remain stagnant in the next six months or see a further fall of 10-15 per cent.
The growing margins suggest that the belt tightening is paying off. For example, the margins of Pantaloon Retail, the country's largest listed retailer, have gone up from 9.2 per cent in June last year to 10.6 per cent in June 2009.Others such as the Raheja-owned Shoppers Stop and Tata Group's Trent, Reliance Retail and Spencer's Retail aren't far behind.
Sales grew only 5-10% last year on weak consumer sentiments
Customers will be offered five free third-party withdrawals per month.
After a year of slow growth, apparel maker and retailer Provogue is reworking its business strategy to boost revenues and prop up margins, a top company executive said.
Q3 will be better than the second, say bankers and builders.
Last week, banks were asked to factor in the loans extended to a group -- comprising subsidiaries, special purpose vehicles and related parties of a real estate company -- 'as a matter of prudence'.
A list of things you should watch out for in your credit card document
With the demand for credit expected to shoot up, private banks are bolstering core capital. Seven of them are in the process of raising a cumulative Rs 10,500 crore in equity to fund expansion, which, in some cases like Axis Bank's, includes entry into mutual fund, private equity and wealth management businesses.
Wachovia's global operations were taken over by Wells Fargo last year and the two banks are in the process of integrating their operations.
The only thing that's clear is the October 15 deadline for the end of free third-party ATM use.
To implement the cap, banks will need to make various technological changes in the machines and that will take quite some time.
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