Foreign policy expert C Raja Mohan has said that the recent disengagement of troops with China in eastern Ladakh has given a small opening to India, but the "big issues" remain. He also stressed the importance of strengthening India's ties with the US for technological and economic growth.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
Billionaire Gautam Adani's group on Tuesday said it will prepay $130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a stock exchange filing, APSEZ said an aggregae principal amount of $412.7 million was validly tendered.
"Purchasing managers' index for April has risen above the 50 mark to 53.3 suggesting industrial output expanded in sequential terms in April. Therefore, we continue to expect a recovery in manufacturing production in the months ahead," DBS Bank said. PMI gives an indication of the country's manufacturing activity and its future outlook.
Some leading private and foreign banks in the country have started checking scores of credit information companies such as Credit Information Bureau Ltd as part of their pre-employment screening process.
The government's fiscal deficit may exceed the target of 4.8 per cent of GDP by 0.50 percentage points in this financial year, and money-guzzling measures like decision to push the Food Security Bill are only expected to complicate the matter.
RBI Governor Raghuram Rajan on February 2, left the key interest rate unchanged citing inflation.
India's foreign reserves continue to march to record highs, touching USD 393 billion early this month backed by strong foreign portfolio and investment flows, according to Development Bank of Singapore.
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
Analysts and economists have hailed the fiscal projections in the interim Budget, saying the lower fiscal deficit forecast shows that the government, even in an election year, is serious about fiscal consolidation and that the numbers look achievable. According to Devendra Kumar Pant, the chief economist at India Ratings, the two broad themes of the interim Budget are fiscal consolidation and stepping up focus on agriculture/rural to course correct, to some extent, the differential benefits of the ongoing economic growth that's tilted in favour of upper-income bracket/urban households. The projected fiscal deficit numbers for FY24 and FY25 suggest that the government is serious about achieving the fiscal consolidation path of 4.5 per cent fiscal deficit by FY26, and given the nominal GDP growth assumption and revenue buoyancy, the target appears plausible, Pant said in a note.
"If HR isn't responsive, it's critical to keep records of all interactions -- e-mails, dates and any conversations you had. If HR fails to help, escalate the matter to higher management or the internal complaints committee," says Smita Shetty Kapoor.
Adani Ports and Special Economic Zone (APSEZ) on Monday started the first debt buyback programme since billionaire Gautam Adani's conglomerate was targeted by a US short-seller in January. APSEZ floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, it said in an exchange filing, as it looks to regain investor confidence by showing that its liquidity position is comfortable. Shares of Adani group companies pummelled after Hindenburg Research in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
The trade gap was $11.66 billion in December 2015 while in September 2015 it stood at $10.16 billion
The country's largest lender State Bank of India (SBI) will revamp its banking application (app) YONO and position it as a complete digital bank (DB) under a new rubric 'Only YONO' for enhancing customer experience and ease of use. The bank plans to bring in a consultant to help draw up the project plan, keeping in mind business goals for the next five years. With 54 million monthly active users (MAUs), SBI YONO has seen growth of over 35 per cent in MAUs in 2021.
The loan is funded by a consortium of banks led by Australian and New Zealand Banking Group Ltd, BNP Paribas, Credit Agricole Corporate and Investment Bank, DBS Bank Ltd and Intesa Sanpaolo Spa, RCom said in a filing to the Bombay Stock Exchange.
No, because year-on-year data mask a sharp upward correction in industrial growth but a rate rise could see a surge of fund flows into India and prove counter-productive
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
India's GDP may turn positive at 1.3 per cent in the third quarter of 2020-21, having witnessed contraction in the previous two quarters due to the coronavirus pandemic, as the number of cases is falling and public spending has started rising, according to a report. The government will release the GDP numbers for the October-December quarter of the current fiscal on Friday. Projecting that the gross domestic product (GDP) may have returned to the black in the last quarter of the calendar year 2020, DBS Bank in the report said the full-year growth in real terms may be at a negative 6.8 per cent.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
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Analysts see FY16 CAD at 0.5-0.6% of GDP.
RBI may hold rates in Apr; to go for 25 bps cut by June: DBS
'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
The Bharti Group is raising $320 million in loans from a clutch of banks, including ABN AMRO and Singapore's DBS Bank, group chairman Sunil Mittal said on Tuesday.\n\n\n\n
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
The Reserve Bank is likely to continue buying dollars from market to add to its reserves in the coming months, which has crossed $300 billion, says a report.
Within two days, the business school had 108 recruiters making 370 domestic and international offers, including 23 new final recruiters with an average salary of Rs 25.08 lakh.
Modi has taken a slew of measures to attract investment, but he has yet to initiate steps that could help repair corporate balance sheets.
Analysts at Barclays pitched for a 0.25 per cent cut to generate demand advising the central bank to throw caution to the wind.
According to Nielsen India online viewership has doubled since 2011.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
New offerings by banks are changing the way you transact.
...but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life, Rajan noted.
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