Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
'Kindly advise about the following stocks. Can I hold or exit?'
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
In addition, the finance ministry will present a report on steps taken to step up flow of resources to SMEs, textiles, gems and jewellery and rupee and foreign currency resources to exporters.
Mahesh Nandurkar, executive director and India Strategist at CLSA, talks to Puneet Wadhwa ahead of their 21st India Forum on his interpretation of how the markets have played out over the past few months, the road ahead, and his sector preferences in this backdrop.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
The government and Reserve Bank of India are working on opening a massive Rs 75,000 crore refinance window to provide concessional funds for infrastructure, housing and small and medium enterprises by partly leveraging the country's foreign exchange reserves.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Citigroup is looking to exit Housing Development Finance Corp (HDFC) completely. The financial major has invited bids to sell its entire stake, 9.85 per cent, on Friday.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
In the past few years, banks have been reducing the spread of retail loans for new customers while keeping the base rate unchanged.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
CBI officials, however, said no such evidence had so far been found. CBI, on receiving a tipoff from its sources, found that a private financial services company, its chairman and managing director, and other associates were allegedly bribing senior officials of public sector banks and financial institutions for facilitating largescale corporate loans.
While some states have kicked in their heat action plans, experts feel this is not enough to tackle the current extreme weather.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
HDFC and HUL are the latest entrants in the club
Most borrowers may not be aware, but quite a few banks already offer external benchmark linked home loans to favoured borrowers, says Harsh Roongta.
Indian economy was growing faster than the global average and all other major economies: FM
The Enforcement Directorate has arrested the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers in connection with a money laundering case against them linked to the alleged loan fraud in Yes Bank, official sources said on Wednesday.
The session will commence with the maiden address of President Droupadi Murmu to the joint sitting of both Houses of Parliament. The address essentially highlights the government's achievements and policy priorities.
HFCs and banks expect a drop in demand for housing loans in the short-term.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
Following a cut in the interest rates by banks, LIC Housing Finance Ltd on Friday announced a special rate of 7.75 per cent on home loans for all terms.
Even if the same party returns to power, what is important to debate is that having introduced an entitlement, how challenging it is to reverse such decisions, says Mukesh Butani.
Expressing his satisfaction over the government's move to slash fiscal deficit target, Das said it will help improve investment by the private sector as crowding out impact will be less.
Indian companies had raised $2.39 billion from foreign markets in May 2015.
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
'Had there been no war, maybe, we would come out with a 7.5 per cent stake sale.' 'At this point in time, a 3.5 per cent stake sale looked good.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
It makes it mandatory for companies to spend on social welfare and seeks to bring in greater transparency.
The ED, which is probing the DHFL promoters' role in financing funds to gangster Iqbal Memon (alias Iqbal Mirchi), said Kapil Wadhawan, former chairman and managing director of the debt-laden company, played a very crucial role in these "nefarious transactions" by way of money laundering.
'There's this presence, a sense of patrolling and surveillance. And it's not coming from a place of safety.' 'It's coming from a place of 'You don't belong here'.' 'It's a malevolent force, the society at large is observing them.'
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
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