'Good investment opportunities should not be missed.'
More people using the internet for financial and e-commerce transactions has led to job creation in a niche segment. Specialists who can help deal with rising technology (tech) frauds are in high demand amid the surge in electronic transactions during the pandemic. Demand for tech fraud experts has risen upwards of 35 per cent, reveals employment and human resource services company TeamLease Services.
A freely convertible country must have sound macroeconomic policies.
The bank (Williams & Glyn's), which was dormant for about 30 years, is being revived by UK-based lender the Royal Bank of Scotland Group Plc.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
India's Current Account Deficit rose to a record 6.7 per cent in the quarter ended December of 2012-13.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
The government will "notify such countries or territories outside India to which a data fiduciary may transfer personal data", according to the draft unveiled on Friday for public feedback.
Phantom FDI refers to investments that pass through shell companies that have no real business activities and are tailor-made to cut tax liabilities.
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
After two decades, the SCO appears to be at a cross-roads with the US withdrawal from Afghanistan, asserts Srikanth Kondapalli, the leading China expert.
These categories rank among India's top 10 export items by value.
HCL Technologies plans to double its fresher hiring for the upcoming financial year (FY23) as attrition continues to inch up. The company said that it will hire 40,000-45,000 freshers for FY23, up from 20,000-22,000 target for FY22. The company also stated that to ease supply-side constraints and to have access to diversified skills, it was expanding into other geographies over the next three-four quarters. "Some of the geographies that we are investing in to source talent include countries like Romania, Hungary, Bulgaria, Guatemala, Costa Rica. We are also ramping up our presence in Sri Lanka, Vietnam, Australia, New Zealand, etc.
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
Byju's has quietly moved into other global markets such as the UK, Australia and New Zealand. It recently launched operations in Latin America.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
India tops the world with 11% of global deaths in road accidents while we have only 1% of the world's vehicles.
The protocol aims to "democratise" lending, reduce costs of credit, and ensure accessibility of credit to small companies and street vendors, according to Nandan Nilekani.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
Office politics exists in many organisations, so don't let that bother you, advises HR Guru Mayank Rautela.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
"The FATF plenary decided continuation of Pakistan in 'Grey List' till its next meeting to be held in October," an official privy to the development told PTI.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
The SIT on black money has widened its probe.
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
Hinting at further relaxation in the capital account convertibility norms, RBI Deputy Governor T Rabi Sankar on Thursday said the country is on the cusp of some fundamental shifts with regard to currency management. India has come a long way in achieving increasing levels of convertibility on the capital account and has broadly achieved the desired outcome for the policy choices in terms of achieving a stable composition of foreign capital inflow, Sankar said while addressing the Foreign Exchange Dealers' Association of India's (FEDAI) annual day meeting. Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa to make payments for balance of payments transactions.
The typical modus-operandi of such entities involves setting up of a company, followed by tall claims about their proposed business ventures.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
Historically, Tata Steel has always been among the biggest companies in the group in terms of m-cap, revenue, and profit but its fortunes began to decline after 2010 due to a sharp decline in the profitability of its European operations that it had acquired in 2007. The company was hit by a sharp rise in its debt level after this acquisition. First, it lost out to Tata Motors in terms of revenue in FY11 and then in March 2015, Titan beat it to become the third-biggest firm in the group in terms of m-cap. In FY20, TCS reported higher revenue and Tata Steel had become the third biggest company in that terms.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
With over 1.7 million vacant cloud computing jobs, the future is bright for candidates with the right skills and experience, says Bhavesh Goswami, founder and CEO, CloudThat Technologies.
Fear factors weights on markets, Sensex, Nifty struggle to keep pace.
Seeking to wriggle out of the FATF's grey list, Pakistan has imposed tough financial sanctions on 88 banned terror groups and their leaders, including Hafiz Saeed, Masood Azhar and Dawood Ibrahim, by ordering the seizure of all of their properties and freezing of bank accounts, a media report said.
Dawood Ibrahim is wanted in India to face the law of the land for carrying out serial blasts in Mumbai in 1993 in which scores of people were killed and injured.
