The good news is that the government has taken notice of the pain and has formed a task force to improve operating procedure during foggy days.
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.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
Dr Samir Shah, who was honoured with a CBE by Queen Elizabeth II in 2019 for services to television and heritage, will replace Richard Sharp, who had been forced to resign after his communication with former prime minister Boris Johnson came under scrutiny.
Desperate to save the career of tainted pacer Muhammad Aamir, the Pakistan Cricket Board would try to seek ICC's permission for the youngster to start training at PCB facilities and play some domestic cricket.
Tata Consultancy Services (TCS) on Wednesday reported a 12.2 per cent rise in its consolidated net profit to Rs 9,769 crore for the December 2021 quarter, and announced Rs 18,000-crore buyback offer for its shareholders at Rs 4,500 per scrip. The country's largest software services firm had logged a net profit of Rs 8,701 crore in the year-ago period. Revenue of the Mumbai-based firm grew 16.3 per cent in the quarter under review to Rs 48,885 crore from Rs 42,015 crore in the corresponding period last fiscal, TCS said in a regulatory filing.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
Independent directors were supposed to safeguard the interest of all stakeholders.
The construction of the three-storeyed Ram temple in Ayodhya will be completed by December this year, temple construction committee chairperson Nripendra Misra said on Thursday. The sprawling temple complex will also have other structures.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
Tata Group is set to become India's first homegrown iPhone maker after Taiwan's Wistron Group agreed to sell a plant in Bengaluru to India's largest conglomerate. Wistron's board approved the sale of Wistron InfoComm Manufacturing (India) Private Ltd to Tata Electronics for $125 million, the Taiwanese electronics manufacturer said in a statement on Friday. The unit operates an iPhone assembly plant near Bengaluru.
Wrestler Bajrang Punia will be the flag bearer at closing ceremony at Tokyo Games on August 8.
Four senior Twitter executives are leaving the media company, CEO Jack Dorsey tweeted late on Sunday night, the biggest leadership changes since Dorsey returned as chief executive as he struggles to revive the company's growth.
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
Would have constructed Ram temple on 5 acre land if given to us: UP Shia Central Waqf Board
'Being financially independent is crucial.' 'This spares women a lot of grief if the marriage, especially in large business families, breaks down.'
UK daily Financial Times, quoting people close to the development, said, "Citigroup is to revamp its board with the departure of long-standing members Kenneth Derr and Franklin Thomas following criticism of its ability to supervise the troubled company's executives and strategy".
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
Among other things, the company is considering monetising the Global Village tech park located off Mysore Road in Bengaluru, for which private equity major Blackstone was said to have shown interest.
The next Gulf Cup, which was due to kick off in December in Basra in Iraq, has been postponed for a year due to a congested calendar, organisers announced.
A senior RITES official said the new station building comes equipped with many modern facilities that passengers usually get at an airport, but the architecture of its facade "embraces tradition" in a nod to the upcoming Ram temple.
In a move to strengthen governance in private sector banks and wholly-owned subsidiaries of foreign banks, the Reserve Bank of India (RBI) on Wednesday directed them to have at least two wholetime directors. Lenders that do not meet the requirement will have to submit the names for the RBI's approval within four months. Banks need prior approval from the banking regulator for the appointment of wholetime directors.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
Hockey India on Wednesday pledged to donate Rs 25 lakh towards Prime Minister Narendra Modi's PM Cares Fund to help in the country's fight against the coronavirus pandemic. The decision was taken by the HI Executive Board after Prime Minister Narendra Modi announced a special emergency fund for the nation to fight the coronavirus outbreak.
Tokyo 2020 organising committee is not considering postponing or cancelling the 2020 Games despite the spread of coronavirus.
A senior JD-U leader said Lallan Singh has expressed his desire to give up the top party post.
The Indian entrepreneurship success story will soon see one more company debuting on the public markets. Ola Electric, the electric vehicle (EV) company, has become the first such firm that has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its initial public offering (IPO). This is a fresh issue of equity shares of up to Rs 5,500 crore and an offer for sale (OFS) of more than 95 million equity shares at a face value of Rs 10.
Afghanistan easily beat Sri Lanka in the World Cup match in Pune on Monday and Afghanistan captain Hashmatullah Shahidi was quick to attribute his team's confidence to the triumphant run-chase against Pakistan.
England women to earn same match fees as men's team
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
Johri, who last served as Discovery Networks Asia Pacific's Executive Vice-President and General Manager for South Asia, will take up his new assignment on June 1.
Rohit Shetty's strengths have been action and humour; the former he delivers in spades, but the latter is totally lacking in Indian Police Force, observes Deepa Gahlot.
The Propulsion Module (PM) of Chandrayaan-3 has been moved from an orbit around the Moon to an orbit around Earth, the Indian Space Research Organisation (ISRO) has said, terming the operation a unique experiment.
The incident led to a political confrontation between the government and Opposition in the state.
The Reserve Bank has found gaps in banks' corporate governance despite issuing guidelines on the matter, Governor Shaktikanta Das said on Monday. Addressing directors of bank boards, Das said such gaps, which have been mitigated, could have caused "some degree of volatility". He also hit out strongly against "smart accounting" to conceal stress and bloat financial performance.
The FIH also stated that the draw of the Men's Hockey World Cup, to be hosted jointly by Bhubaneswar and Rourkela from January 13 to 29 next year, will take place as per schedule on September 8.
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