'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
Sanjay Jalona, CEO & MD of LTI says the push would be to increase digital business and look at outcomes in projects for customers.
HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.
Despite a largely stable December quarter, investors booked profit in shares of IndusInd Bank (IIB) as an increase in slippages took them by surprise. Analysts, on their part, believe investors may, now, wait for actual delivery on slippage decline, potentially limiting near-term upside. "The management has indicated that corporate slippages (from legacy stressed book) have ended and inch up in consumer finance slippages was more one-off, and should meaningfully improve Q4FY24 onwards.
The combined net profit of "early bird" companies, those that have declared their quarterly results, rose for the third consecutive quarter in July-September 2023 (Q2FY24). But the figures suggest a continued slowdown in revenue growth and stagnation in earnings over recent quarters. This slowdown is severe for companies in the manufacturing and non-financial service sectors.
Currently, companies are taxed in the jurisdictions in which they have a physical presence. However, digital businesses generate revenues from markets without a significant physical presence in a country.
Technology, which was responsible for creating the new-age digital consumer issue for enterprises, also acts as a solution to the problem, says Karthick Viswanathan.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
India is capable of achieving and sustaining double-digit growth in the coming years if labour reforms are carried out to shift workforce from agriculture to the industry, eminent economist Arvind Panagariya said on Friday.
Digital Domain Media, which has churned out blockbusters such as Titanic and Avatar, had filed for bankruptcy protection on September 11.
According to the police, Hanif Sheikh was declared a proclaimed offender in 2002 and has been absconding for the last 22 years.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
Monthly and seasonal suburban railway tickets purchased through digital mode will get 0.5 per cent discount from January 1
From Covid-19 essentials, such as Vitamin C supplements and thermometers, to bicycles, laptops, and personal weighing scales, demand for certain items galloped during last financial year as the pandemic altered what Indians used on a day-to-day basis. Imports of outdoor sports equipment, handbags for women, and dentures, among others, plummeted. With outdoor activities coming to a halt last year and schools functioning virtually, imports of sports goods witnessed a decline, while inbound shipments of laptops and battery chargers saw a sharp uptick, according to the import data for the financial year 2020-21.
One can't run away from death so this is the time that YOU must create your own death file. P V Subramanyam explains what you must know about this most essential financial tool.
The move would help in further promoting ease of doing business in the country.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Indian firms selling SAAS products have got a bonanza as companies meet, manage and sell remotely. The top five firms - Zoho, Freshworks HighRadius, Druva, and Icertis - account for 33 per cent of the market share. Chennai, India's SAAS centre, alone generates $1 billion in annual revenue. Yuvraj Malik explains how these companies are planning their next phase of growth.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
In a nation of 1.4 billion people, where a potential new creator is born every second, we pick 25 influencers who have ruled social media this year.
Collectively, these companies spent Rs 628 crore (Rs 6.28 billion) on political contributions in the past five years, according to their annual reports.
Indian Institute of Management Bangalore is offering special digital courses taught by their professors.
Microfinance portfolio of SFBs saw a muted growth of about 3% last year
The Bharat Interface For Money app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform. There have been over 17 million downloads of the BHIM app so far.
'Chinese are going bang, bang, bang building 30-35 reactors.' 'We should announce a programme of 50 new reactors and show that we mean business on the ground and not just announcements.'
Driven by high vegetable prices, the food inflation is in double digit for the past two months and even crossed 18 per cent in the last week of December 25.
The discount will be by way of cash back which will be credited to the buyer's account in three days from the transaction
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
'While intensification of fuel prices and broad-based domestic cost pass-through pressures is a downside risk, core inflation is expected to strengthen further as demand recovers to pre-Covid levels,' the ministry said on Friday.
Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust. Sitharaman was replying to a question by Kris Gopalakrishnan, chairman, Global Fintech Fest (GFF) 2022 advisory board, who wanted to know how to ensure trust among industry, regulators, and the government. "I don't want to sound cliche, but distance brings distrust. "So, cut the distance down, have greater engagement with the government," the minister said.
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy."
The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
Ahead of new inflation data to be released on Friday, the finance minister told a television channel that he cannot guess the inflation figure, but "will remain in double digit for some more weeks." "I don't know. I can't guess the figure," P Chidambaram told Karan Thapar in an interview for the Devil's Advocate programme to be telecast on CNN-IBN.
Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
