Some experts had said the Budget did not have much in terms of big ideas.
...followed by financial services, IT, and sales and marketing.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The RBI has agreed to consider the application of India Post in consultation with the government.
Analysts on Wednesday welcomed the Reserve Bank's decision to grant bank licences to Bandhan and IDFC, but expressed dismay that only two of the over two dozen aspirants made the cut.
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Telecom companies (Airtel, Vodafone, ABNL-via Idea Cellular), which enjoy larger reach, appear to be better placed among the key companies bagging payments bank licences.
Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015.
The company is set to be India's first microlender to become a bank
'This is part of our efforts to make it easier to do business.'
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Economists have asked Finance Minister Arun Jaitley to lower interest rate, rationalise subsidies, remove all cess and surcharge, do away with the retrospective tax amendments and scrap dividend distribution tax to revive investment cycle and promote growth.
Bandhan financial Services will raise funds via internal accruals.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
The scrutiny is expected to be over this month itself.
India's largest telecom operator in terms of subscriber numbers has been struggling to raise its share of subscribers in the market for fourth-generation technology services.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
The Birlas are investing $100 million in the financial services business in fiscal beginning April 1.
Experts say the focus is on preserving liquidity as there is uncertainty over the duration and impact of the 21-day nationwide lockdown imposed to check the spread of COVID-19.
The deal, part of the Jaypee Group's plan to cut Rs 60,000-crore debt, follows months of negotiations.
'A 25 year old buying a high-value policy now will be well covered even in his 40s.'
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
Reliance joins a number of large companies, including the Essar and Adani groups, which are raising loans abroad as interest rates in India remain high.
On Monday, RBI announced that 26 entities, including Tata Sons, LIC Housing Finance, Aditya Birla Nuvo, Department of Posts, Reliance Capital, L&T Finance and Bajaj Finserv, applied for grant of bank licences.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The macro economic situation and currency depreciation might top the priority list of Reserve Bank of India (RBI) governor-designate Raghuram Rajan.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
A section of the media on Thursday reported, quoting an unnamed EC official, that it may not allow RBI to go ahead with the plan before the polls and that they need more clarity from the Mint Road on certain aspects.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
Last August, RBI gave in-principle approval to 11 applicants.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
Given its focus on the real estate sector, financial planners feel this scheme is not meant for first-time investors and any investor should only have 5 to 10 per cent exposure to this fund.
DFS writes to departments that haven't responded to RBI's request for information.
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