A former Swiss banker on Monday handed over documents of 2,000 high net worth people from the United States, Britain and Asia to WikiLeaks that he claims would expose attempts by these business leaders and lawmakers to evade tax payments.
In March this year, he quit to start his own firm for equity syndication to cater to small and medium enterprises in smaller towns. Huzefa Sitabkhan, who was working with one of the domestic investment banks (i-banks), left to start PNR Consulting, an advisory and consultancy firm for equity and debt syndication for SMEs.
'What more can I ask for?' 'Salman and Ranbir Kapoor know how to respect their seniors.'
Breaking the streak of continuous fall in outstanding amounts, non-resident Indian (NRI) deposits rose for the first time in the financial year to $134.54 billion in October 2022. The figure was $133.67 billion in September. Reserve Bank of India (RBI) data showed that NRI deposits were in shrinking mode for the first six months of FY23. They fell to $133.67 billion in September from $139 billion in March.
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The minister, who will also be meeting foreign institutional investors whose money is key to funding CAD in the afternoon, did not speak to reporters waiting outside.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
With growth rate falling and with inflation continuing to be flat expects a rate cut
National Thermal Power Corporation on Thursday said it has sought offers from global bankers for arranging a syndicated loan of $100 million to part finance its capital investment during the current fiscal.
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
With the international markets facing uncertainty after Russia invaded Ukraine and Western nations retaliated with sanctions, Indian companies are putting their international fundraising plans on hold as they wait for the markets to recover. Bankers said apart from the geopolitical crisis, international rates are hardening in anticipation of interest rate hikes by the US Federal Reserve to control rising prices in the US. The Ukraine situation has implications for the market. In such a situation, international investors try to shift to safe haven assets by exiting from emerging markets.
The role of a banker in the institutional framework is very different than any other kind of institutions, and along with that comes huge responsibility, Uday Kotak said, explaining in the video how he got into banking.
Richest Indian Gautam Adani and mining baron Anil Agarwal on Sunday led India Inc in paying tributes to veteran stock market investor Rakesh Jhunjhunwala, who passed away early Sunday morning. "Extremely saddened by the untimely passing away of the most legendary investor that India has had. "Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views.
The Piramal group and Zurich Insurance have decided to jointly bid for Reliance General Insurance, a subsidiary of Reliance Capital. The groups had earlier submitted separate bids for the general insurance business of bankrupt Reliance Capital. Both Piramal and Zurich will hold 50 per cent each in the proposed special purpose vehicle (SPV).
Ahmedabad-based Nirma group and leading private equity firms have joined the race to acquire BSE-listed Glenmark Life Sciences. The acquisition by chemicals-to-cement major Nirma, if successful, would be a major boost for the health-care segment of the group, on the lines of its successful entry into the cement sector following its purchase of Lafarge India's assets for about Rs 9,400 crore in July 2016. It later followed up by buying Emami cement assets for Rs 5,500 crore in February 2020.
'We are in a sweet spot.' 'Equity, on a standalone basis, will continue to remain the asset class to stay invested in.'
The CFA Institute is inviting applications for its Young Women in Investment initiative.
Kuntal Patel, employed at the Barclays Bank in CanaryWharf, was arrested following anti-terror raids at three addresses in London.
Sameer Nath, head of mergers and acquisitions for Citi Group Global Markets India, has been busy working on domestic restructuring and consolidation deals over the past six to nine months.
The suicides have involved more NEET aspirants than JEE. 'It's a make-or-mar situation.' 'Either you get into a government medical college, where the fee is much lower than in private institutes, or you don't make it.'
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
Bankers have been criticised for not passing the benefits of rate cuts
This call comes even as both RBI as well as the government are fighting high inflation, driven by a massive jump in vegetable prices since mid-December with unseasonal rain affecting crops.
The comments come about a week after PSU bank employee unions went to a four-day relay strike to press for early revision of wages.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
Describing its choice as a "vote for the future", a distinguished four-member jury selected State Bank of India (SBI) Chairman Om Prakash Bhatt as Business Standard's Banker of the Year for 2006-07.
Zaggle Prepaid, Cyient DLM, Healthvista India, Rashi Peripherals and Vishwaraj Sugar Industries have obtained the green signal to launch their initial public offerings (IPOs). The approvals come at a time when capital raising by way of IPOs has slowed to a crawl, with only four issues hitting the market so far this calendar year. Recently, the Securities and Exchange Board of India (Sebi) issued final observation letters on their draft red herring prospectuses (DRHPs), which is akin to getting approval to hit the markets.
Public sector banks' cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the Public Sector Banks (PSBs) have come a long way as their profit touched Rs 1,04,649 crore in 2022-23, according to an analysis of their financial results. These 12 PSBs witnessed 57 per cent increase in total profit compared to Rs 66,539.98 crore earned in 2021-22.
The likely new chairman of Pakistan Cricket Board (PCB) Zaka Ashraf has rejected his predecessor Najam Sethi's much-publicised "hybrid model" for the upcoming Asia Cup.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
The expected interest rate hike in the US and the resultant volatility in the domestic secondary market could play a dampener to the over Rs 2-trillion initial public offering (IPO) pipeline in 2022. IPOs in 2022 look promising, with as many as 35 companies holding the Securities and Exchange Board of India's approval to raise roughly Rs 50,000 crore. Another 33 companies are waiting for the regulator's nod to raise around Rs 60,000 crore next year.
What would Parliament be without these nine ladies?
Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month. Earlier this month capital markets regulator Sebi had asked the company to refile the draft initial public offering (IPO) papers with certain updates. "We are working on updating all key sections simultaneously.
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The rupee had earlier this month touched a life time low of 61.21 to a dollar.
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