'NiMo having skipped, the next best bet is a high-profile banker.' 'Ms Usha happens to be in the wrong place at the wrong time.' 'Ms Usha's crime? That's as thin as it gets.'
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
In a filing to the Bombay Stock Exchange (BSE), USL said it had made a recommendation to the board of subsidiary United Spirits to consider the sale of the entire share capital of Whyte & Mackay.
'I might die a little earlier than others, but I have time to finish off unfinished businesses.'
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
RPG Enterprises Chairman Harsh Goenka thinks aloud about what Vijay Mallya could or should do to get out of the current mess.
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
In a recent lecture, RBI governor Raghuram Rajan dished out some frank advice -- don't get into 'jugaad', instead try for the long haul. Only that will sustain in the long-run.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
Chief Economic Advisor Arvind Subramanian spoke on a wide range of issues -- from GDP growth and fiscal consolidation to job creation and GST.
The Maybach S650's focus on luxury would make a private jet's interiors appear pedestrian, says Pavan Lall. Does it mean it has no room for improvement?
Against National Democratic Alliance's 75 million target, United Progressive Alliance added 61 million in 2013-14.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
News media takes a beating from the economy, advertisers and the rupee. To stay afloat, publishers are reacting by folding up businesses and axing staff.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
Upcoming payment banks will lift lower income groups in distant villages.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
Investments are at risk if operators are unable to resolve concerns of authorities and customers after the rape accusation.
'If you want to live a happy life, you have to help the downtrodden. You have to understand that you have been given a position which is a confluence of your own capability and the grace of God. You must use that position to exemplify to others what has to be followed.'
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The annual talk-fest of rich and powerful from across the world in snow-laden Alpine resort town of Davos will be attended by nearly 40 heads of government among more than 2,500 global leaders from over 100 countries.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
The government has provided a long-term vision.
The focus is on tapping all resources, even foreign agencies.
The assessment of PMJDY should be done within the context of the programme.
India battles big pharma over cough syrup abuse, reducing supplies
A glance back at some of the important ups and down Indian Inc faced in 2018.
India Inc has few leaders who are likely to grab headlines in 2015.
Iran is preparing for a trade and investment boom that could reshape the region after agreeing with world powers to curb its nuclear programme, paving the way for sanctions that have stifled its economy to be lifted.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
Parekh said divestment can unlock huge funds.
Their pics will send you into a food coma!
SBI's gross NPA figures have shown a decline for three consecutive quarters.
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta.
Meet the US Attorney who took on Donald Trump.
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