During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
Fitch Ratings on Wednesday cut India's growth forecast to 10 per cent for the current fiscal, from 12.8 per cent estimated earlier, due to slowing recovery post second wave of COVID-19, and said rapid vaccination could support a sustainable revival in business and consumer confidence. In a report, the global rating agency said the challenges for banking sector posed by the coronavirus pandemic have increased due to a virulent second wave in the first quarter of the financial year ending March 2022 (FY22). "Fitch Ratings revised down India's real GDP for FY22 by 280bp to 10 per cent, underlining our belief that renewed restrictions have slowed recovery efforts and left banks with a moderately worse outlook for business and revenue generation in FY22," it said. Fitch believes that rapid vaccination could support a sustainable revival in business and consumer confidence; however, without it, economic recovery would remain vulnerable to further waves and lockdowns.
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
Barclays said the refinery would, however, now need to find new sources for the energy for its internal uses.
Liverpool's Egyptian forward Mohamed Salah has been voted Player of the Year by the Football Writers' Association (FWA) to complete the double of English soccer's major individual awards.
HSBC's purchasing managers' index was released on Tuesday.
Today, they can't meet even the piffling capital norm set by Mint Road - Rs 5 crore for partnerships and Rs 10 crore for public and private firms in this line of business. Bulk of the trades are put through e-platform offerings of Reuters, Bloomberg, JPMorgan, Barclays or Deutsche Bank. And they have the web-based FXall, FXconnect, Atriax, Hotspotfx and LavaFX for company.
The rupee is likely to strengthen to 60-61 level by this fiscal-end on expectations of improvement in current account deficit (CAD) and higher inflows from overseas investors.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
Bankers pay a small price for their misdeeds, no matter how large the cost to their banks or to the economy at large, says TT Ram Mohan.
Jaipur-based start-up Logic Roots aims to teach children math skills through board games.
Ril's shale gas may be impacted due to fracking ban
Nearly 150 companies visited the campus this year.
According to reports, the deal is estimated to be close to $300 mn.
Another year of strong performance by these export-oriented sectors likely as US economy revives and rupee is expected to be under pressure.
Budget this year has allowed PSBs to bring down govt stake to 51%
Vastu Housing Finance is trying to leverage technology to distinguish itself in a crowded space.
Raising the issue during Zero Hour, he said SBI has signed an MoU pledging one of the single largest loans to a corporate house despite five international banks refusing to lend to the Adani project.
With trade deficit falling 24% in Apr-Dec and stable capital flows, FY14 may end with a balance-of-payments surplus.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
Reliance is in the market with a benchmark issue to sell 30-year US dollar-denominated Reg S fixed rate senior unsecured notes.
This is the biggest IPO in the Indian market since Bharti Infratel's over Rs 4,000 crore public offer in December 2012.
IndiGo has a fleet of 98 aircraft and about 75 of them are on operating lease.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
As with TCS, most companies put their money in mutual funds, corporate bonds and bank deposits, which are losing their appeal versus government bonds in terms of both returns and safety.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
'Employees may well be expected to be on call at almost all times -- much like the standard Indian approach to the workday,' points out Mihir S Sharma.
From inflation, central bank shifts focus to rupee stability and capital flows.
InterGlobe Aviation has already raised Rs 832 crore from anchor investors.
SBI said the crisis in Grece would have little impact on the bank.
IIM-A saw 36 per cent jump in maximum domestic salary in 2018 placements this year.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
Telecom shares rallied on hopes that they would hike tariffs after huge investments to acquire spectrum.
2nd time within a few days RIL has hit the forex debt market.
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
On Wednesday, FIIs sold shares worth Rs 1,573 crore.
Major institutes see rise in summer placements; consulting, BFSI, e-commerce firms are top recruiters, says Vinay Umarji.
