Infosys on Thursday posted a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore in March quarter of FY23, and gave 4-7 per cent revenue growth forecast for FY24 amid macro economic uncertainities. The net profit (after minority interest) stood at Rs 5,686 crore in the fourth quarter of FY22. Seen sequentially, the net profit for Q4 came in 7 per cent lower.
'This award is funded by American money so I took this decision.'
In a repeat of the previous year's results, the US bank came ahead of rivals Goldman Sachs, Deutsche Bank, Bank of America Merrill Lynch and Citi, which all tied for second place, according to industry analytics firm Coalition.
Some banks called the Moody's move backward looking, arbitrary and unwarranted.
Switzerland's Federal Office of Justice (FOJ) named the men as Alfredo Hawit of Honduras, acting president of the CONCACAF federation and a FIFA vice-president, and Juan Angel Napout of Paraguay, head of the South American football federation CONMEBOL. CONCACAF administers football in North and Central America and the Caribbean.
Being driven to abandon Indian middle-class values, asks Ajit Balakrishnan.
'There's no pro-China tilt in BRICS.' 'All these countries want to be close to China, but they are all good friends of India also.'
India's services sector activity eased in August but growth rates for new orders remain elevated, as services firms indicated the sharpest upturn in new export business which acted as a catalyst for firms to expand their workforces as well as output, a monthly survey said on Tuesday. Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010. For the 25th straight month, the headline figure was above the neutral 50 threshold.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
BofA Merrill also upgrades its price objectives for private banks, retaining ICICI Bank Ltd as its top pick, and HDFC Bank Ltd and Axis Bank Ltd as its 'preferred' names.
In India, economic activity slowed substantially in 2019, with the deceleration most pronounced in the manufacturing and agriculture sectors, whereas government-related services sub-sectors received significant support from public spending, the Bank said.
Scaloni has helped get one over the Dutch Master at least once before when he was at Deportivo, who pipped Van Gaal's Barcelona to the 1999-2000 La Liga title.
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
'There is a law that prevents the government from diluting its equity in the PSBs below 50 per cent.' 'That law has to be amended and given the parliamentary arithmetic of the political parties, it is not as simple to do that.'
JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, as well as Britain's Asia-focused Standard Chartered said they would try to support London's financial sector
The banks provided the 'living wills' road maps that were requested by US regulators to help the banks' liquidation in a financial crisis.
Both Europe and the US can learn a lesson from American history to overcome their debt problems.
NavIC consists of a constellation of seven satellites and a network of ground stations and is touted to be more accurate than GPS.
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
Consolidation will help banks derive economies of scale, but integration will not be easy.
Banks' loans are set to grow at the slowest pace in a decade this financial year, as companies continue to shy away from borrowing in the current uncertain macro-economic environment.
Back home, the Nifty IT index - a gauge of the performance of the IT stocks on the National Stock Exchange (NSE) that has closely mirrored the performance of NASDAQ over the past few years - has lost nearly 2 per cent in CY23.
The financial services industry, especially banking, is in the midst of massive upgrade of existing IT set ups to cope with future regulatory and customer-driven online and mobile services, said Vijay Sharma, vice president & head domain & industry advisory services for banking, financial services and insurance.
Beginning in 1990, Japan suffered a collapse in real estate and stock market prices that pushed major banks into insolvency
Pruthviraj Kandepi, who hailed from Guntur district of Andhra Pradesh, was killed in the shootout.
New York City Mayor Eric Adams said he was proud that the State Assembly and the State Senate have passed the bill making Diwali a New York City Public School holiday.
'India is respected by both Israel and Palestine.' 'India can push the international community for the peace process.'
It is believed that the new draft guidelines will encourage foreign banks to acquire stakes in Indian banks.
Amidst global private equity investment firms making a beeline for India and the growing dominance of PE players in the M&A deals executed by India Inc, US-based banking giant Bank of America has pulled curtains on its private equity division in Mumb
Further, as a part of its continued expansion plan across Latin America, TCS has set up its delivery centre in Argentina. This is the eighth centre for the company in the region at a cost of $2 million (around Rs 10 crore). The centre, spread over 10,000 square metres, will initially employ 250 professionals, but has the capacity to house 1,000 people.
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
While rate cuts may increase churn between banks, these may not boost credit offtake meaningfully.
Arvind Kejriwal warned the media that "very big forces" would try and break the INDIA alliance by showing that there was a lot of acrimony among them.
India CEOs of 12 banks form pressure group within IBA.
... And what explains the directions of change? asks Ajit Balakrishnan.
On Friday, Biden announced his intent to appoint 14 people to the advisory committee, which provides overall policy advice to the United States trade representative on matters of development, implementation, and administration of the US trade policy.
India should be wary of Pakistan, Yashwant Sinha, senior leader of the Bharatiya Janata Party, tells Aasha Khosa.
'We are in very tough times, but we are all absolutely committed to seeing the destruction of Hamas'
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