The finance ministry has received over 600 names of Indians who have accounts in HSBC Bank's Switzerland branch, from the government of France.These names were obtained by the French government after an employee of HSBC Bank became a whistleblower. He took refuge in France and brought along a long list of account holders who have allegedly stashed money in the Swiss branch of HSBC Bank. Now the Indian government is sitting tight on those names.
Pending final approvals, Huawei would become the first big-name Chinese phone maker to manufacture hardware in India's growing market.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
Experts say foreign investor sentiment was bolstered by the US Federal Reserve's decision to go slow with interest rate hikes and hopes of political stability.
Foreign institutional investors were the major sellers on the Indian bourses in the last six months, accounting for total outflows of Rs 62,000 crore (Rs 620 billion).
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
RBI Governor has been under pressure from Finance Ministry.
The poll of over 30 economists, taken in the past week, showed Asia's third largest economy will expand 7.8 percent in the fiscal year ending March 2017.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
In the US, it is obligatory for any citizen to provide details regarding any financial transaction he or she may have carried out overseas.
New series points to a sharp recovery since FY14.
Chances of a rate cut in April improve if core inflation continues to ease, growth falling below the projected 7.2% for FY19 and if the global trade slowdown exacerbates.
Tamal Bandyopadhyay takes a close look at some of the magic figures in the banking sector
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
One of India's main export destinations, the euro zone, is struggling to revive its economy and battling disinflation.
'Spends are likely to increase from the current levels because recovery is yet to fully be over.'
On Wednesday, the Modi sarkar placed a list of names of 627 Indian account holders in HSBC bank, Geneva in the black money case before the Supreme Court. While on the campaign trail, bringing back black money stashed away in foreign banks was one of the biggest election promises made by Narendra Modi. Rediff.com takes a look at some of the prime minister's tall assurances.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
The Sensex closed the day at 27,490, higher by 479 points and the Nifty ended at 8331.95, up 150.45 points.
While selling started in April, it has intensified this month, with FPIs pulling out $1.1 billion and $2.5 billion from equities and debt market, respectively
Forecast of normal monsoon and a good harvest will boost the purchasing power of gold among farmers in India, said a report from the leading Asian investment bank, HSBC.
India Inc reacted cautiously to allegations on Swiss a/cs.
The survey showed firms passed on a greater cost burden to consumers. Prices charged rose at their fastest pace since October.
The US Federal Reserve has decided to keep its stimulus programme intact and this in turn will lead to some respite for the battered emerging market economies, but it should also be borne in mind that tapering is inevitable in the medium term.
Business houses don't think twice about blacklisting a newspaper.
As the government submitted a list of 627 foreign account holders to the Supreme Court on Wednesday, the spotlight is on family of former Maharashtra chief minister, former minister in the UPA government, a Mumbai-based corporate among others. Vrishti Beniwal reports
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
That prompted manufacturers to add jobs for the first time since June.
Foreign exchange reserves jumped $1.17 billion to touch a new record high of $355.46 billion.
The HSBC Manufacturing Purchasing Managers' Index, compiled by Markit, fell to 52.4 in August from 53.0 in July but chalked up its tenth month above the 50 mark that divides growth from contraction.
What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy.
The country is biding time to assess the mood of the next Indian government.
Switzerland has been making efforts to strengthen its bilateral cooperation with India .
The survey showed firms' confidence regarding future business grew at the slowest pace in a year last month.
Such schemes need 3-5 yrs to take advantage of dollar and market risk.
The HSBC Services Purchasing Managers' Index , compiled by Markit, fell to 50.6 in August from 52.2 in July.
Assessment of the 427 account holders associated with HSBC list will be completed by March 21, 2015.
Burman held an undisclosed, yet, active account in an HSBC branch in Zurich
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
