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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.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The deal, part of the Jaypee Group's plan to cut Rs 60,000-crore debt, follows months of negotiations.
Nearly 150 companies visited the campus this year.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
As on March 31, 2019, while the promoter group's stake, including individual promoter shareholders as well as group investment firms, stood at 42.71 per cent, it fell to 38.39 per cent on Tuesday.
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.
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Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said.
Most of the hirings are, however, in the entry or junior level.
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Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Real estate experts say rentals have corrected by 5-10 per cent across formats, including office, retail and housing, with a pick-up expected over the next few quarters as the economy recovers.
Top ten billionaires in India.
After sight-seeing the Taj Mahal in Agra and the Sabarmati Ashram in Ahmedabad, Canadian Prime Minister Justin Trudeau got down to work in Mumbai. He, along with his wife Sophie Gregoire Trudeau and three kids -- daughter Ella Grace and sons Hadrien and Xavier - arrived in the country's financial capital on Monday night. Here are snapshots from Day 3 of their visit.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
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.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
Install blockers to prevent falling prey to cryptojacking.
Last August, RBI gave in-principle approval to 11 applicants.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Amazon Web Services (AWS) on Friday announced setting up of its second data centre region in India in Telangana that will be operational by mid-2022, and will see the tech giant investing about Rs 20,761 crore. While AWS did not comment on the investment detail, Telangana IT and Industries Minister KT Rama Rao tweeted that AWS will invest Rs 20,761 crore ($2.77 billion) to set up multiple data centres in the state.
Based on Statista data for 2019, Vodafone has 17.2 million subscribers in the UK, 29.5 million in Germany, and over 13.7 million in Spain. Without Voda Idea, the Group will become smaller than Airtel and Jio.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
Despite uncertain times and market volatility ahead, investors should continue with their disciplined investing via SIPs.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Cement shares have been outperformers on the stock market
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
While such buying could indicate confidence in the business, investors should do a comprehensive evaluation before getting into the stock.
His father is a former finance minister. His brother is a minister in the Modi government. But Sumant Sinha wants nothing to do with politics and tells Shreya Jai why he is bullish on the renewable energy sector.
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.
'A 25 year old buying a high-value policy now will be well covered even in his 40s.'
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.
Sudhanshu Singh, director IBBM, MM Securities, answers your mutual fund queries.
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.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries
