Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
As of December 2018, a total amount of Rs 51,513 crore has been infused into PSBs.
The tax rate rises to 10 per cent, 15, per cent, 20 per cent and 25 per cent for every Rs 2.5 lakh addition. A 30 per cent tax is charged for income over Rs 15 lakh.
'The spirit of cooperation between the Centre and states has been diluted in many ways.' 'The level of consultation which used to be there earlier has reduced significantly.'
RBI wants the lending rates to be determined by the market.
He said the aim has been to create firewalls to deal with the cyber attacks and that the issue is being addressed in a "serious way".
Indian firms selling SAAS products have got a bonanza as companies meet, manage and sell remotely. The top five firms - Zoho, Freshworks HighRadius, Druva, and Icertis - account for 33 per cent of the market share. Chennai, India's SAAS centre, alone generates $1 billion in annual revenue. Yuvraj Malik explains how these companies are planning their next phase of growth.
Unlike mutual funds, an ETF trades like a common stock.
While FIIs have pumped in nearly Rs 17,000 crore, MFs have been net buyers to the tune of Rs 9,000 crore.
energy is India's binding supply-side constraint for inclusive growth.
Prior public consultations when making regulations is a critical feature
India needs $800 billion (Rs 50 lakh crore) annually if the economy is to grow at 7 per cent, Financial Services Secretary Hasmukh Adia said.
The two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
Indian economy about to take-off
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Indian households put bulk of savings in bank deposits and insurance; the returns are minimal. If you're part of this, change.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
Reduce frill expenses, monetise your assets and invest in professional development to negotiate the choppy phase.
Parents should enroll their children in coding classes only as a leisure time activity, that too with strict curbs on screen time.
Five Star Business Finance is in the business of providing loans to MSME entrepreneurs. Gireesh Babu finds out more about the company that plans to grow to 3,000 crore by 2020.
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
High net worth individuals (HNIs) are considered more investment-savvy than retail investors.
This would be a practical way of bringing a huge sum of money.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
Drivezy is helping people share their vehicles.
Face Rs 1,000-cr minimum alternate tax demand
There has also been some easing of norms, allowing foreign direct investment to come into relatively small projects of 20,000 sq metres.
It is often said, learn from your mistakes. We can twist that saying a little; learn from your mistakes and people who make mistakes. You do not have to make the mistakes to learn from them, says Priyanka Chakrabarty.
These simple changes can add a significant thrust to your overall money management over time.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
Budget is likely to focus on infrastructure creation in the N-E
An online platform suits many new angel investors who are professionals with tech companies or start-up founders.
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
Sebi had last year put in place a separate regulatory regime for REITs.
The apex court directed Supertech to pay 10 per cent per month of the invested amount from January 5, 2015 to 17 home buyers, who are before the court, within four weeks
It has brought down the minimum capital requirement to $5 million from $10 million.
The government also proposed promoting 'one product one district' for better marketing and export of horticulture crops. It also called on states for early implementation of three key central model laws on land leasing, agriculture produce and livestock marketing and contract farming.
Agriculture and processed food exports dropped to a five-year low of $24 billion in 2015-16.
'Helicopter drop' was first proposed as an alternative to quantitative easing.
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
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