The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
Pruthviraj Kandepi, who hailed from Guntur district of Andhra Pradesh, was killed in the shootout.
India CEOs of 12 banks form pressure group within IBA.
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.
While rate cuts may increase churn between banks, these may not boost credit offtake meaningfully.
India should be wary of Pakistan, Yashwant Sinha, senior leader of the Bharatiya Janata Party, tells Aasha Khosa.
Fundraising via initial public offers (IPOs) dropped 52.2 per cent to $147.2 billion in the first eight months of calendar year 2023 (CY23), suggests a recent report by GlobalData, a London-based analytics and consulting company. At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion during this period, primarily due to a higher number of SME IPOs, followed by the US with 99 deals totaling $16 billion, while China ranked third with 88 transactions worth $32.3 billion. "An analysis of GlobalData's Deals Database reveals that there were 750 IPO listings registered with an aggregate deal value of $147.2 billion in the first eight months of 2023 on the stock exchanges worldwide.
Analysts believe that new companies getting into banking space will look at acquiring old private banks. Following this view, there has been a significant rally in banking stocks.
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.
The existing SAARC Development Fund could be merged into the bank.
Indian banks are the 2nd-fastest-growing ones.
'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.'
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.
Being driven to abandon Indian middle-class values, asks Ajit Balakrishnan.
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.
A raft of banks could face tough questions in the sweeping US crackdown on alleged corruption in global soccer as prosecutors review how much they knew about millions of dollars in bribes flowing through the US banking system to accounts around the world.
Canara Bank, celebrating its centenary year, is eyeing operations in South Africa, north America and the Middle-East as part of its overseas expansion plans, its chairman and managing director M B N Rao said on Thursday.
The price range and size are yet to be determined, according to the term sheet, which also did not specify the timeframe.
The Trump Organisation has a secret server registered to Trump Tower that has been covertly communicating with a Russian bank, a media report said, in the latest allegation of questionable links between Donald Trump and Russia just a week ahead of the presidential polls.
'This award is funded by American money so I took this decision.'
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
There was a time when experts, analysts, rating agencies found it very easy to describe the best banks.
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.
Broking firm Jefferies says Indian financial system is now flooded with the kind of liquidity witnessed in 2005-07 and 2009-10
The All India Bank Officers' Confederation, the apex level organisation of bank officers, has demanded that RBI's proposal to amend the Banking Regulation Act to raise the cap on voting rights beyond the present 10 per cent be dropped.
Silicon Valley can be replicated, but this will only be achieved so long as fresh talent is welcomed by both our countries - a move that will surely spark a billion ideas and discoveries.
Abheek Barua & Bidisha Ganguly explain why the US treasury should intervene if the overvalued greenback continues to rise.
NavIC consists of a constellation of seven satellites and a network of ground stations and is touted to be more accurate than GPS.
Though Indian banks don't have large exposure to subprime mortgages, analysts are worried at the rise in their restructured loan portfolios and deterioration in credit quality.
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.
Ashishkumar Chauhan says that the exchange is seeking a valuation of about $1 billion.
How did an Indian Army brat become one of the most powerful bankers in the world?
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.
Daryan and Daryll Warner, sons of former FIFA Vice President Jack Warner, and their associates deposited more than $600,000 in cash at bank branches in New York, Miami and Las Vegas in the second half of 2011, according to a 2012 complaint in US District Court in New York that was unsealed on Wednesday.
'India is respected by both Israel and Palestine.' 'India can push the international community for the peace process.'
The funds raised by employees were matched by an equal contribution from Wipro.
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank of India (RBI), the central bank said in a circular. "In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR," it said.
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.
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.
