The combined pay for India Inc's top management was up 30 per cent in FY16, growing at the fastest pace in nine years
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
The Enforcement Directorate on Wednesday searched the office of Karti Chidambaram, son of former Finance Minister P Chidambaram, in connection with its probe against firms owned by his friends.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Thackeray said lockdown has been partially eased because economic activities need to continue as 'now we have to learn to live with the virus'.
Growth is going to be an important factor in contributing high tax revenue and in containing the fiscal deficit.
The first major aspect is that of the veto power to the governor.
The government had breached its fiscal deficit target given in the Budget for 2017-18 in November itself, touching 112 per cent of the limit.
Stressing on the need to protect both lives and livelihoods, he said public health action in India and across the world must be continually guided by evidence from four key questions -- how transmissible is the variant, severity of the disease it causes, how well vaccines and prior SARS-CoV-2 infection protect and how common people perceive risk and follow control measures.
BJP's reversals in rural Gujarat has prompted many policy watchers to predict that the Budget would have incentives for the agriculture sector and the rural economy.
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
HR Guru Mayank Rautela offers practical advice.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
'The CEA suggested that could be as high as 19 per cent.'
Fresh hiring might slow as banks likely to focus on improving efficiencies.
HUL, ITC, Nestle, Colgate, Dabur, Britannia, Asian Paints, P&G are trading at nearly 48 times. The previous record high was 53 times at the end of March 1994.
Good intentions and elaborate roadmaps apart, there is an urgent need for the Tamil Nadu chief minister to come up with branded schemes like MGR's meal scheme, asserts N Sathiya Moorthy.
''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.
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The CPI(M) on Thursday slammed the Planning Commission estimates on poverty levels in the country, saying these made "a mockery of life and death struggles" of the people, amidst continuous rise in prices and "massive" slashing of subsidies for the poor.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
Writes to Trai, Mumbai Police to catch unauthorised SMS senders
'RCEP may be in India's long-term interest, but it is certainly not in India's short-term and medium-term interest.'
ISRO has been selected for the Gandhi Peace Prize for 2014 for its contribution to the country's development through space technology and satellite-based services.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
Budget has laid emphasis on increasing social spends
India might be heading towards a "serious livelihood crisis" as the situation seems to be worse this time for the working class amid the COVID crisis and local restrictions by states already add up to something close to a nationwide lockdown, according to noted economist Jean Dreze. In an interview to PTI, he also said the government's target to make India a $5 trillion economy by 2024-25 was never a "feasible target" and was just to pander to the "super-power ambitions" of the Indian elite. About the impact of the second wave of COVID on the Indian economy, the eminent economist said the situation today is not very different from what it was around this time last year as far as working people are concerned.
The decision to impose night curfew for nine days from 11 pm to 5 am starting from Thursday was taken on Wednesday in line with the Centre's advice, amid concerns over a new COVID-19 variant spreading in the United Kingdom.
The chief minister still has time to repair the damage but he will have to act all-round, both at the government and party levels, suggests N Sathiya Moorthy.
The Indian diaspora remain bullish despite single-digit equity market returns since May 2014, says Pavan Burugula.
The voting rights with the promoter will ensure the interests of the promoter family as well as minority shareholders are protected in future, said corporate governance advocates and corporate lawyers.
120 new malls came up in last two years, but 30-40 of their older peers downed shutters
The domestic deal-making activities were hit by weak corporate governance and a huge liquidity crunch in 2019, while the global deals were also hard to come by due to various factors including uncertainties caused by the US-China trade war, which left many investors in a wait-and-watch mode.
Five influential American lawmakers have introduced a resolution in the House of Representatives calling on the US Postal Service to issue a postal stamp to commemorate the festival of Diwali.
'It's official: we won. I'm going to Albany to fight to tax the rich, heal the sick, house the poor & build a socialist New York. But I can't do it alone. To win socialism, we'll need a mass movement of the multiracial working class as well. So let's build one,' Mamdani tweeted.
Though most analysts expect the global central banks to keep the liquidity tap open, valuations of Indian markets, they say, are beginning to look stretched. Against this backdrop, they remain cautious, with some even expecting a minor correction from here on.
Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
The domestic India BPO services market grew by 7.3 per cent year-on-year in 2009 primarily due to the global economic uncertainty which led to some price and volume pressures.
