Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
'There are some high-frequency indicators where uptick is visible and some where it is not'
While the US continues to millions as financial aid to Pakistan to fight terror, it has also invited over 20 countries and five financial institutions to participate in the the Friends of Democratic Pakistan forum for the sake of Pakistan's better future.
Real estate developers like Indiabulls, DLF, Peninsula and even retail giant Future group are all considering converting space reserved for malls and hyper-markets to office space to meet heavy demand from financial institutions, investment banks and large companies.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
China demanded that the Pakistan should apprehend and punish the perpetrators to the full extent of the law.
Discussion paper fixes Rs 1,000 cr as minimum capital for these specialised banks
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
Take the Rediff Biz Quiz and find out how much you know about the World Bank and India.
Rahul Gandhi supports New Delhi's policy of having its relationship with Russia in the context of the Ukrainian war, despite the pressure it feels from the West.
The country's largest life insurer has been inundated with applications from companies, including heavyweights such as Reliance, as the deepening credit crisis forces India Inc to look for new sources of funds. Many companies are issuing NCDs largely to meet their working capital requirements as well as long-term capital expenditure plans.
Banks and financial institutions are seeking more flexibility in dealing with commercial and industrial loan accounts, which are seeing pressure due to cash flows and repayment.
Mahindra & Mahindra (M&M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity -- "EV Co". According to the pact, BII will invest up to Rs 1,925 crore in the form of compulsory convertible instruments at a valuation of up to Rs 70,070 crore, resulting in 2.75 per cent to 4.76 per cent ownership in the EV Co, M&M said in a regulatory filing. EV Co will focus on four-wheel (4W) passenger electric vehicles, it added.
The health sector has been allocated Rs 89,155 crore in the Union Budget 2023-24, a hike of around 13 per cent over Rs 79,145 crore allocated in 2022-23, with the government also announcing a mission to eliminate sickle cell anaemia by 2047.
Peer-to-peer lending -- which refers to an individual or a group lending money to a person in need without the role of any intermediary -- is fast emerging and may reduce dependence on banks. The market size of the country's informal lending market is estimated to be $ 90-100 billion, with rural areas accounting for bulk of the market. This new format is more popular among people who do not have easy access to bank loans and belong to low income groups.
India will kickstart on Tuesday a two-day multi-agency military exercise covering the country's 7,516 km-long coastline and exclusive economic zone with the twin aim of checking the preparedness of various agencies to deal with any eventualities and bolster overall maritime security, officials said.
United Spirits had a tough time in recent past due to management related issues. Going ahead, corporate governance is a big challenge, say experts.
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
'He was the most thoughtful corporate person I encountered.'
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
After a secret voting by the 24 members of IMFC last Friday, India, Italy and Canada were the only countries that remained in contention for the position, which was traditionally headed by Europe.
Godrej Properties Ltd has acquired legendary film actor, director and producer Raj Kapoor's bungalow at Chembur in Mumbai for around Rs 100 crore to develop a luxury housing project with a sales potential of Rs 500 crore. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company said in a regulatory filing. When contacted, Godrej Properties executive chairman Pirojsha Godrej told PTI: "The total size of the land is around 1 acre.
Given the uncertain macroeconomic conditions, most brokerages have turned slightly cautious on the pace of growth in State Bank of India's (SBI's) earnings going ahead. While they don't see any significant risk arising for now, its sheer balance sheet size and systematic importance has nudged them to cut earnings estimates for fiscal year 2023-24 (FY24) and 2024-25 (FY25) up to 5 per cent. India's largest state-owned bank, on Thursday, reported standalone net profit of Rs 16,694.51 crore for Q4FY23.
IMF's Chief Economist Gita Gopinath will leave her job in January next year and return to the prestigious Harvard University, according to the global financial institution.
Schemes among the six wound up by the fund house had given a loan of Rs 518 crore against non-convertible debentures to the firm in March 2019, according to ED's chargesheet.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
With no sign of the global liquidity crunch abating, the government is planning to ease the lending norms for banks and financial institutions so that they can provide funds for the ambitious ultra mega power projects.
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India managing director Swaminathan J said on Thursday. If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans, which shall ultimately lead to better resolution of the asset quality stress for all. The government is yet to announce the specific contours of the NARC or the bad bank and has also only said that it is willing to provide some sovereign guarantee to help the platform.
Financial numbers can sometimes paint a rosy picture because of changes in the accounting policy or a one-time income.
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
The opposition parties will meet on Monday morning to evolve their strategy in both Houses of Parliament after protests by them on the Hindenburg-Adani issue overshadowed most of the first half of the Budget session.
There is a congruence of interests between Ukrainian intelligence and its Western mentors to destroy Wagner and eliminate it from the geopolitical chessboard altogether, argues Ambassador M K Bhadrakumar.
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