'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
'Spends are likely to increase from the current levels because recovery is yet to fully be over.'
The CBI also told the court that it has sought Interpol's help in seeking access to overseas bank accounts of the Mukerjeas
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
The central bank had nudged banks to cut lending rates.
This was the near-unanimous replies of 10 market participants.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
Six firms have qualified for managing EPFO funds.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
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.
The US on Friday issued orders to ban popular Chinese social media apps TikTok and WeChat from Sunday to safeguard national security, weeks after India banned them, saying they were prejudicial to sovereignty, integrity and security of the country.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The changes in the ordinance have been made after taking inputs from states suggesting changes to the Act which would make it more industry-friendly
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
The data leak obtained by 'The Australian' newspaper has revealed how the alleged CPC members are employed with some of the world's biggest corporations in the areas of defence, banks and pharmaceutical giants manufacturing coronavirus vaccines.
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
EPFO's advisory body FIC on Thursday shortlisted five entities --ICICI Securities, Reliance Capital, HSBC Asset Management Company, SBI and ICICI Prudential -- for managing its corpus of Rs 3.5 lakh crore (Rs 3.5 trillion).
A formal sector worker can contribute towards pension scheme till the age of 58.
Raman's hacking expertise is much in demand -- and not from criminal elements. Indian firms and multinationals like ABN Amro Bank, Aditya Birla Group, Bank of Maharashtra, Bombay Dyeing, HSBC, ICICI Bank, Indiabulls, Centurion BOP, Citibank, India Infoline, Ispat Industries and Kotak Group proactively seek his services. Raman's hacking expertise is much in demand -- and not from criminal elements.
The question is which tool it should use to shift gear.
Switching to a damage-control mode, bankers and government officials claimed that Jet Airways wouldn't fall even if Etihad refuses to back the resolution plan and exits.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
APAs are part of govt's aim to move to a non-adversarial tax regime.
FY17 GDP growth faces cash crunch heat
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
At least 14 mutual fund schemes have closed down, according to announcements made by fund houses. The reason: they had less than 20 investors in the scheme or a single investor was accounting for more than 25 per cent of the corpus. According to Sebi's guidelines, any scheme should have at least 20 investors. Also, no investor can account for over 25 per cent of the corpus.
This is the lowest amount of funds held by Indians in the Swiss banks ever since the Alpine nation began making the data public in 1997.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
The list, posted on a website link launched by the US regulator, includes ABB, HSBC, Nokia, Unilever, Cadbury, Total and Siemens among others.
Can call centre thefts end India's flourishing BPO business? Do such deeds give India a bad name? Tell us what you think.
Investment trend by foreign investors will also be closely watched for stock movement
India on Monday got the backing of Switzerland in its bid to become a member of the Nuclear Suppliers Group.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
There's need to address growth, but weak rupee putting pressure on prices.
