The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
'For the first time, all major countries are discovering India's indispensability to their own foreign policy interests.'
'Cyrus was always very different. He would think before acting.'
'Welfare schemes are not a necessary evil, they are a necessary good.'
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
New law was just one step toward fixing country's fiscal and economic problems.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The Economic Survey seems convinced that 2019-2020 saw the bottom of the economic cycle, points out Abheek Barua, chief economist, HDFC Bank.
The breadth was neutral with 1,329 advances and 1,320 declines.
Franklin Templeton Mutual Fund on Thursday said its six shut schemes have received Rs 11,907 crore from maturities, pre-payments and coupon payments since closing down in April. Franklin Templeton MF had shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market. The schemes -- Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund -- together had an estimated Rs 25,000 crore as assets under management.
Home First Finance will be answering readers' home loan queries. Mail your queries to getahead@rediff.co.in with the subject line 'Home Loan Query' and we will have your queries answered by Home First Finance.
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
If there is a morality tale here, it is that debt and death spare no king.
To further strengthen the supervision on non-banking entities (NBFCs), the Reserve Bank on Tuesday issued revised guidelines on a Prompt Corrective Action (PCA) framework for such companies, excluding government-owned ones, effective from October 1, 2022, on the lines of what it had introduced for banks in 2002. The RBI came up with stricter supervisory norms under the PCA framework for banks after their bad loans mounted and balance-sheets bled badly. This involved restricting them from fresh lending, brand opening and, hiring, among others. The RBI said the revised PCA framework is also applicable to all deposit-taking non-banking financial companies (NBFCs), all non-deposit taking NBFCs in the middle, upper and top layers, including investment and credit companies, core investment companies, infrastructure debt funds, infrastructure finance companies and microfinance institutions.
'If one crore is sanctioned to make a road, they spend only Rs 40 lakhs and the remaining 60 lakhs is looted by the politician, bureaucrats and the contractor.'
Khan stressed on taking austerity measures, working on tax reforms instead of taking loans, rooting out corruption.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
Any speculation suggesting otherwise, or any rumours around sale of our business in India are incorrect and simply that -- rumours, says head of the US-based asset manager.
Use fixed maturity plans to tide interest rate volatility if you're okay with lock-in because longer duration. FMPs can give up to annualised 7.7 per cent returns.
A steady demand environment, prudent debt management and faster absorption of office space gave them an edge over others.
For investors, every cost-saving means higher returns.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
After monetising Jio Platforms -- which houses the firm's telecom arm and digital ventures, richest Indian Mukesh Ambani is looking to rope in investors in the retail business.
The government should have mentioned clearly the specific structural reforms that were responsible for the deviation from the fiscal deficit target by half a percentage point, says A K Bhattacharya.
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
'To see a player that I have always followed, who is an example for me, to see him leave now brings me a lot of pain.'
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
Filing nomination from the Amritsar East seat, Punjab Congress chief Navjot Singh Sidhu on Saturday dared his bte noir Amarinder Singh to leave Patiala and take on him.
Since becoming the president of the UAE, Sheikh Khalifa has presided over a major restructuring of both the Federal Government and the government of Abu Dhabi.
Most NBFCs will have to slow down their loan growth. Some of the most leveraged will have to sell a part of their assets (or loan book) to banks to raise incremental capital. Others may have to knock on the door of their deep-pocketed parents.
Other Indian-origin personalities on the list are Instacart founder and CEO Apoorva Mehta, doctor and Executive Director of nonprofit Get Us PPE Shikha Gupta and founder of nonprofit Upsolve Rohan Pavuluri.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Finding a job during the lockdown was not easy.'
Sebi on Monday imposed a penalty totalling Rs 15 crore on senior officials of Franklin Templeton AMC and its trustee for violating regulatory norms in the case of winding up of six debt schemes in 2020. However, a spokesperson of Franklin Templeton said they disagree with the findings in Sebi's order and intend to file an appeal with the Securities Appellate Tribunal (SAT). A fine of Rs 3 crore has been levied on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Franklin Asset Management (India) Pvt Ltd President Sanjay Sapre and its chief investment officer Santosh Kamat, according to the Sebi order. In addition, the regulator imposed a penalty of Rs 1.5 crore each on fund managers -- Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma -- as well as former fund manager Sumit Gupta.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
About 40 per cent of the money lost by banks in the PNB scam and the fraud linked to fugitive businessman Vijay Mallya's defunct Kingfisher Airlines has been realised by way of sale of shares seized under the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate said on Wednesday.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
The Budget, to be presented on February 1, is likely to be less worried about fiscal deficit and will be focused more on nursing the fragile growth, according to a Wall Street brokerage report. Bank of America Securities India expects the budget to peg "fiscal deficit at a high 5 per cent of GDP for FY22 and 7.2 per cent for FY21, as it is likely to step up capex, recap public sector banks, push asset sales to break government monopolies, offer sops for real estate, tax cuts for lower income groups and creation of a bad bank". Its house economists expect these spends to be funded by debt and partly by imposing a cess on high income groups and also by some non-fiscal measures like tapping the central bank's revaluation reserves and bank recapitalisation and infra bonds.
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