Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
'We have the technical expertise, and international collaborations. We also have robust real-time data. We are a university of pandemic management. If the ministry neglects the role of NCDC, it is the loss of the country'
The next man in charge faces an unenviable task trying to sort out the existing mess and then living up to goals that seem ever more distant.
'This incident offers ammunition to those inside the US government and elsewhere who question the wisdom of trusting India, so it will have a lasting consequence no matter how it is managed.'
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
While the RBI's guidelines aim to streamline the loan closure process, borrowers must remain proactive.
Is Chandrababu Naidu being in jail an opportunity? How will the TDP capitalise on it? Or will it implode with nothing more than a sigh?
Chat with renowned financial planner Gaurav Mashruwala to get tips on how manage your finances wisely.
With Sebi telling the Supreme Court that it was not investigating the Adani group since 2016, the Congress on Monday cited a Union minister's reply in the Lok Sabha to challenge the claim and asked whether Parliament was misled or the market regulator was "fast asleep" as investors were "duped".
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wish list for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) secretary general Sudarshan Jain said the domestic pharma industry is currently around $50 billion in size and aspires to grow to around $130 billion by 2030 and $450 billion by 2047. "To achieve this vision, the Union Budget 2023-2024 should help fuel innovation and R&D, which will set the pace for propelling the pharmaceutical industry forward," he told PTI.
Palanivel Thiaga Rajan was on Thursday relieved of the finance portfolio by Tamil Nadu Chief Minister M K Stalin.
Travis Head smashed a brilliant 137 as Australia cruised to their sixth World title after outclassing India by six wickets in the final on Sunday.
'You need to be careful about this.' 'Growth without fundamental principles is like fat.' 'Growth with good base and fundamentals is like muscles.'
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
Qualifying Newcastle United for the Champions League was not even in Eddie Howe's thoughts at the start of the season
To boost Make in India in defence production, Finance Minister Nirmala Sitharaman on Saturday said foreign direct investment limit in defence manufacturing will be hiked to 74 per cent from 49 per cent while some weapons and platforms will be banned for imports.
'As the interest rates rise, people are going to say why should I be taking big risks when I can get 4 to 5 per cent in a bank account.' 'So, I think you have to change your thinking.' 'You need to look at the balance sheet, look at dividends.' 'These issues that have been ignored.'
Allaying investors' fears, Franklin Templeton AMC has said Sebi's order prohibiting the company from launching new debt funds will have no bearing on existing schemes managed by it. Sebi on Monday barred Franklin Templeton Asset Management (India) from launching any new debt scheme for two years and imposed a penalty of Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees of over Rs 512 crore (including interest) collected with respect to the six debt schemes. This amount will be used to repay unitholders, as per Sebi order.
What investing can you do with just Rs 100? Well, you can become a crorepati, says Vatsal Ramaiya
'Nothing wrong with his methods but changes in approach may help Rahul'
Irrigation woes have contributed to the problem of stubble burning in the state, reports Sarthak Choudhury.
The Hyderabad-based Bharat Biotech has fixed the price of its COVID-19 vaccine, Covaxin, at Rs 600 per dose for state governments and at Rs 1,200 per dose for private hospitals. The Pune-based Serum Institute of India, the world's largest vaccine maker in terms of volume, has announced a price of Rs 400 per dose for its COVID-19 vaccine, 'Covishield', for state governments and Rs 600 per dose for private hospitals.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
The 'sudden volatility' in Adani stocks is entirely due to a series of events that was extreme and unique, and played out in too short a period. Investors and regulators pretended that it wasn't so. But then, along came Hindenburg, which forced some eyes to open, points out Debashis Basu.
An NBFC must actively manage its collateral positions, differentiating between encumbered and unencumbered assets, and monitor such assets so that they can be mobilised in a timely manner, central bank says in circular.
India's economic growth is now 'extremely fragile' and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Friday. Varma further said out of the four engines of growth for the economy, exports and government spending supported the Indian economy through the pandemic, but other engines need to pick up the baton now. " I like to think in terms of the four engines of growth for the economy: exports, government spending, capital investment and private consumption. "...while exports cannot be the main driver of growth because of the global slowdown, government spending is necessarily limited by fiscal constraints," he told PTI.
'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.'
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
'It could tempt investors to pick stocks that are not fundamentally sound.'
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
Prime Minister Narendra Modi on Tuesday asked financial institutions to come out with innovative and futuristic financing as well as risk management ideas to fund the emerging needs of the economy. Stating that implementation of green financing is the 'need of the hour' to meet net-zero carbon emissions target by 2070, Modi said financial help should be extended to environment-friendly projects. "Our financing sector will have to look into new futuristic ideas, initiatives and think of innovative financing and sustainable risk management ideas," Modi said in a post-Budget webinar on 'Financing for growth and aspirational economy'.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
'Modi has given India its 'lost half-decade'. Elect him again and by 2024 it will be a lost decade'
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
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