Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
Long-term investors should consider moving into smaller stocks. Rather than try to pick stocks, it makes sense to build a diversified portfolio by exposure across midcap and small caps funds, suggests Devangshu Datta.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
Hinduja Brothers are keen to invest in Indian Infra projects.
'Raghuram Rajan is a wonderful economist, but he is not a wonderful Indian economist.' 'He doesn't understand India in the granular form.' 'India exists only from Delhi to Nariman Point for him.' 'India is much, much bigger and complex.' 'The new RBI governor shouldn't get ready to open his umbrella when it rains in America'
The code says the process is intended to balance the interests of all stakeholders and the resolution plan is also required to make a statement as to how it has dealt with these interests.
In a recent article, Rajan has ridiculed critics of the exchange rate policy.
He said the short term macroeconomic priorities of the RBI continue to focus on bringing down inflation towards the government-set target of 4 per cent
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
'Avoid taking excessive credit risk via mutual funds such as high-yield fixed maturity plans and credit opportunity funds.'
'The Insolvency and Bankruptcy Code cleans up non-performing assets and puts companies in capable and credible hands.'
National auditor says a significant part of NPAs was due to fraud and may never be recovered
Thanks to Rajan we are an inflation-targeting country now
'Government of India has the right to give directions to RBI'.
'It is not simply demonetisation or GST, it is this government's failure to manage the financial sector crisis.'
The 30-share Sensex ended down 261 points at 27,177 and the 50-share Nifty ended down 91 points at 8,214.
Kenneth Rogoff, professor of public policy and economics at the Harvard University, tells Dilasha Seth on the sidelines of the Delhi Economics Conclave that public sector banks will need to take a one-time haircut to address non-performing assets.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Markets ended lower following expiry of July F&O contracts and sales by foreign funds.
PSB executives said loans to group holding company IL&FS and entities might still be treated as "standard".
'Urjit Patel was not quite the picture of courage, but even he turned, he had to turn.' 'Perhaps there is something that is far more sinister than what we are aware of, which is the reason for his resigation.'
India is better prepared to deal with any further US Fed tapering, but the country needs to remain vigilant to face eventualities, Reserve Bank Governor Raghuram Rajan said.
The 30-share Sensex also hit its one-year low of 22,494.61 on February 29 this year.
Loans to wilful defaults are said to be a little over Rs 1 lakh crore.
'High denomination cash notes which was 1.4 lakh crores of Rs 500 and Rs 1,000 notes in 2004 became Rs 15.5 lakh crores in 2016.' 'If it had been allowed, by 2022, it would have been Rs 34 lakh crores, and that would have been the end of the Indian economy.' 'Demonetisation was a huge hit on the head of the economy, but without the hit, you could not U-turn the economy.'
SBI's gross NPA figures have shown a decline for three consecutive quarters.
'We first need to acknowledge the truth.' 'We are trying to diminish the problem and say, everything is okay and green shoots are emerging.' 'Imagine you are a doctor and not getting accurate medical reports, how do you diagnose and treat the illness?' 'We are not dealing with a terminal illness here, we are dealing with BP and cholesterol, which are imminently curable.'
'The Indian market has all the factors at the moment: Over-valuation, over-confidence, reliance on some source of massive fund flows and massive scams.' 'The trigger for a collapse could also have arrived.' warns Devangshu Datta.
The agency has predicted that monsoon will also be a major factor.
Prices in Bengaluru, the National Capital Region, Hyderabad and Ahmedabad, however, witnessed an uptick during the period.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds.
Restructured debt from Indian power distributors lures investors
An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
The economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
There has been a decent growth in FDI proposals and new announcements in India to attract foreign investment.
Small and medium enterprises have been struggling to raise bank credit even as they have been powering India's manufacturing growth in recent years.
Just before the elections, the government waived interest on loans up to Rs 300,000 for farmers. But this may not really help small and marginal farmers in the state, who make up for two-thirds of the total and are still dependent on informal channels of credit.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
To the question on what comes first, clean up or growth, Rajan said the answer is unambiguously 'Clean up!'
