ICICI Bank has 317 branches in hitherto unbanked villages.
Wistron, which earlier pegged the losses at Rs 437 crore, later notified the Taiwan stock exchange that the total losses were around Rs 50 crore.
India's second-largest software services firm expects its topline to grow 7.5 - 9.5 per cent in FY2019-20 in constant currency terms.
However, compared to August, vehicle sales increased by 15.25 per cent on the back of discounts. Maruti led the market in offering heavy discounts and incentives for buyers and dealers, reports Arindam Majumder.
India's top IT companies have shown a hiatus between their performance on the bourses in the pandemic period and earnings growth. The combined market cap of the top five IT companies - Tata Consultancy Services, Infosys, Wipro, HCL Technologies, and Tech Mahindra - is up 87 per cent since the end of March 2020. In comparison, the benchmark BSE Sensex is up 68 per cent during the period. So the industry beat the broader market by a big margin in the last one year.
In the April 2012-February 2013 period, the life sector's industry's new business premium collections fell 6.1 per cent, compared to the corresponding period of the previous financial year.
A day after the income tax department and the National Investigation Agency seized 102 bagful of cash and jewellery, it was business as usual at the offices of Angadias at Bhuleshwar, Opera House, Zaveri Bazar, near Cotton Exchange, Pophal Wadi, and Malhar Wadi in Mumbai.
'Most likely scenario is Modi comes back with either a much smaller majority and no majority at all and a coalition.' 'Very hard to imagine him doing better than he did last time.' 'He will then be a weaker prime minister,' the author of The Billionaire Raj tells Rediff.com's Vaihayasi Pande Daniel.
FM says government policies aim to contain inflation, spur growth.
Like Indira Gandhi, even Narendra Modi seems to be relying on directing public-sector banks through ministry of finance supported by party cadres, says Debashis Basu.
Billionaire Mukesh Ambani's Reliance Industries has started a limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest USD 5.7 billion in digital assets controlled by the company. JioMart, an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report.
Among the key demands of agitating farmers has been a legal guarantee on minimum support price (MSP). The protest reached a crescendo when thousands of farmers from Punjab and elsewhere marched towards Delhi late last year and decided to block the main entry points once they were denied entry. The Centre, on its part, held 11 rounds of discussions with the protesters and even offered to amend some of the provisions without much success. With now one of their chief demands met, farmers have now moved on to force the government to concede on MSP.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
The 74-year-old real estate mogul-turned politician, who radically changed politics in the corridors of power in Washington, DC over the past four tumultuous years, was impeached for a second time on the charges of 'incitement of insurrection' for the violent storming of the United States Capitol by his supporters just days before the end of his four-year term.
Story of an American beggar who lost his job to the Chinese.
As part of this strategy, the e-commerce major has launched a programme to manage the entire business-to-business inventory supply and management for kirana stores in three cities in Karnataka.
The prolific Yashasvi Jaiswal and highest wicket-taker Ravi Bishnoi were among three Indians named in the ICC Under-19 World Cup Team of the Tournament on Monday. Besides left-handed opener Jaiswal and leg-spinner Bishnoi, right-arm pacer Kartik Tyagi is the other Indian to figure in the 12-member team, led by World Cup-winning Bangladesh skipper Akbar Ali.
The second and final part of former cabinet secretary Naresh Chandra's interview to Sheela Bhatt.
Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency. Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them. "In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. "Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'.
The govt has a lot more to do then just open bank accounts for the poor in the Jan Dhan scheme.
The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
The estimated size of the Durga Puja economy could be about Rs 2.75 trillion in 2021 had there been no pandemic, points out Atanu Biswas.
The best message the Prime Minister could bring to London is that he will return to India to focus on economic matters. Britain, on its part, should ensure that it addresses matters that concern India, instead of engaging in pomp during his visit, says Adam Roberts.
The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion.
A Ganesh Nadar finds out how private water distributors help Chennai's water-starved citizens.
For the first time, consumers, including those at the so-called bottom of the pyramid, are monetising gold by taking loans from banks, offering the yellow metal as collateral, says Tamal Bandyopadhyay.
Sun Pharma profit down 30% over compliance costs, lower sales.
The Modi leadership could lose Election 2024 if a communal flare-up becomes cause for all-round catastrophe, warns N Sathiya Moorthy.
'The years after the financial crisis of 2008 were tough for brokers as volumes dwindled and retail investors stayed away.'
Livestock auctions remained on hold for the majority of the lockdown as there was no clarity on the matter.
Industry officials say the crunch has not only affected manufacturing of edibles but even of items like nozzle pumps and other goods used in packaging.
Earnings from the company's FMCG business, including cigarettes, increased by 4.23 per cent to Rs 6,456.06 crore (Rs 64.56 billion), while that from the non-FMCG business section grew by 0.31 per cent to Rs 9,582.95 crore (Rs 95.82 billion).
Let us understand where this bull market is coming from.
Donald Trump, known for his unpredictable leadership style, divisive rhetoric targeting both allies and opponents, and the only US president to be impeached twice, left the White House on Wednesday with a tainted legacy never seen before in American political history.
MGNREGA scheme: A significant Rs 17,370.58 crore has been carried forward over to the next financial year as unpaid dues as demand for work continued unabated for the scheme in rural areas.
Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
The business confidence of India Inc for April-June quarter witnessed the steepest fall in the last three years as the Union Budget did not have any major steps towards reforms, says research firm Dun and Bradstreet.
Engaging India is an online column analysing the issues, trends and forces behind the business and politics shaping India and its impact on the world. Engaging India appears on Thursday mornings exclusively on FT.com India, a dedicated online section on India, and is written by Jo Johnson, the Financial Times' South Asia bureau chief; Amy Yee, New Delhi correspondent; and Joe Leahy, Mumbai correspondent.
Since 2013-14, buffalo meat had been the largest export item in the agri commodity basket for a few years. Since the coronavirus outbreak in January, Indian exporters have received no fresh orders from Southeast Asian and West Asian countries, which cumulatively contribute nearly 65 per cent of India's overall buffalo meat shipment.
Telecom operators, including Reliance Jio, have been demanding "same service same rules" regime which means that mobile applications providing calls and messaging services should also be made to comply with set of rules that are mandatory for mobile service providers.
