Mathai George George Muthoot joined the family business as an office assistant and in 1979 he became the managing director and group chairman in February 1993.
There could be multiple measures announced in quick succession, not only by the finance minister but also other ministers regarding their respective sectors, and by the Reserve Bank of India. The total size of these announcements could rival that of other G-20 nations as a percentage of GDP.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
After navigating the turbulent pandemic waves, the recovering Indian economy is now sailing through unchartered waters of rising coronavirus cases, spiralling commodity prices and spiking inflation though the lighthouse of sustainable growth remains visible. As 2022 begins, a raft of developments, ranging from Budgetary announcements to continuation of stimulus measures to monetary policy, will set the tone for the domestic economy, which is projected to grow more than 9 per cent in the current fiscal ending March 2022. The country's continuing massive vaccination drive and 'precaution' doses starting for select categories of people this month will provide a firewall against any steep spike in coronavirus cases amid the emergence of the Omicron variant.
Markets regulator Sebi is contemplating reforms in the IPO norms, especially on the book building, fixed price aspects and certain provisions pertaining to price band, its chief Ajay Tyagi said on Wednesday. Apart from initial public offer (IPO), the regulator is looking into further reforms on preferential issue front, Tyagi said at the FICCI's annual Capital Market Conference. He further said that the focus on review of equity fund raising norms will continue in the near future.
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
Prime Minister Narendra Modi on Tuesday met business leaders to hear their grievances on issues ranging from high capital cost to ease of doing business to certainty on taxation matters, as he interacted for the first time with the Indian industry chambers since taking charge over a year ago.
Industry chambers also sought conducive policies for completion of large infrastructure projects in time.
Headline inflation will come down under the 6 per cent mark in July itself but will stay at an elevated level of over 5 per cent for some time, Chief Economic Advisor K V Subramanian said on Thursday. Such an outcome will get the price rise back into the upper-end of the target band given to RBI, he said, adding that consumer price inflation had breached the mark for three consecutive quarters last fiscal because of supply side issues like challenges in movement of goods. "With reasonable probability, I expect this month the (inflation) print to come less than 6 per cent," Subramanian told a conference organised by industry lobby Ficci. Right after data for May showing inflation at 6.4 per cent had come out, Subramanian said he had predicted it will cool down in internal meetings and also during "deliberations with the regulator".
India Inc on Friday said Prime Minister Manmohan Singh's assertion that the government will not impose capital controls, although reassuring to investors, must be supplemented with tough reform measures.
Corporate India on Monday warned the government that any regulation of CEOs' pay may lead to flight of talent and capital from the country and said salaries are best decided by the industry.
The PM blamed the UPA regime for the problems in the banking sector.
Farmer leader Kanwalpreet Singh Pannu said that thousands of farmers will start their 'Delhi Chalo' march from Rajasthan's Shahjahanpur through the Jaipur-Delhi Highway at 11 am on Sunday.
Last month, the Sahara Group challenged a Supreme Court order which had asked it to refund Rs 24,000 crore (Rs 240 billion) to around three crore (30 million) investors, to a larger bench.
Petitioning the RBI to slash key interest rates, India Inc on Thursday said the recovery in industrial production in November must be seen with "caution" as the performance of critical sectors like capital goods remains poor.
"With regard to life companies, the work on IPO guidelines is more or less complete and we would be going for gazetting the same as regulation very shortly, perhaps toward the end of this month," IRDA Chairman J Hari Narayan told reporters on the sidelines of a FICCI event in New Delhi.
Market regulator, Securities and Exchange Board of India, has directed foreign institutional investors to disclose more information about their investment structure in India.
Market regulator SEBI on Monday said it was considering allowing institutions to short sell in the capital markets and expects to see it through in the current calendar year.
'This is a blip in the 100-year history of cinema.'
Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits.
Public sector Bank of Maharashtra has sought government approval to raise Rs 1,500 crore in three years.
United Bank of India has drawn up plans to float an initial public offer in December this year, bank chairman and managing director S C Gupta said on Monday. The government had already approved the capital restructuring exercise of the bank, he said on the sidelines of the Ficci Banking Conclave in Kolkata.
President Pratibha Patil arrived in the Vietnamese capital, Ho-Chin-Minh City on Monday, as part of a ten-day visit to Vietnam and Indonesia to bilateral ties with these economically and strategically important neighbours in the ASEAN region.
"Whatever may be the political undercurrents, the economy, and the markets, are bound to go forward at its own pace. It will get bigger and better. Our challenge is to keep it safe (for the benefit of investors)," the Sebi chief said.
Clearly not. But to take the case of the Indian airline industry which is in the news, its fleet must be cut by a fifth but it can't do this unless it also has the right to fire workers.
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
Charging the UPA top brass of aligning with industry chambers and not paying heed to coalition partners' demands, Left leaders on Friday said the forthcoming Budget should restore capital gains tax, rationalise corporate tax exemptions and export inc
The shareholders of Bata India on Wednesday the proposed rights issue of the company in addition to hike in authorised capital from Rs 60 crore to Rs 70 crore (Rs 600-700 million).
Farmer leaders on Monday started their day-long hunger strike against the Centre's new farm laws and said protests will be held at all district headquarters later in the day, even as more people are expected to join the ongoing agitation at Delhi border points.
New risks have been identified, which include risk of non-compliance, business investment risk and legal regulatory risk.
Finance Minister Arun Jaitley is expected to present the Budget for 2014-15 in July.
The Indian banks are not prepared to implement the stringent Basel-II norms including that of capital adequacy and non-performing assets in toto by 2006, according to the Federation of Indian Chambers of Commerce and Industry survey.
Encouraged by softening inflation, the RBI on Thursday decided to cut the benchmark interest rate by 0.25 per cent to 7.75 per cent with a view to boost growth.
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
Industrial production in May slowed to 2.7 per cent from 5.6 per cent a year ago, dragged down by manufacturing, strengthening the case for an RBI rate cut.
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