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.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Chaubey, a former goalkeeper for big clubs like Mohun Bagan and East Bengal, welcomed Bhutia in the executive committee as a co-opted member.
ADB pegs India's GDP growth at 7.8 per cent in FY 2015-16
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
'The Modi government is trying hard to see if it could be sold to a private airline.' 'But it appears there are no takers.' 'If no buyer comes forward by June, the government will close down Air India,' predicts A K Bhattacharya.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
Hinduja Brothers are keen to invest in Indian Infra projects.
Anshuman Jain became the co-head of Deutsche Bank in 2012 along with Juergen Fitschen.
The additional outgo to combat the impact of COVID-19 will significantly erode the fiscal consolidation achieved by the state governments in the past three years, an RBI report said on Tuesday. In its study of the state budgets of 2020-21, the RBI report which has dwelled on the theme 'COVID-19 and its Spatial Dimensions in India', said that Gross Fiscal Deficit (GFD) of the states would spiral during the current fiscal.
A day after the Reserve Bank of India (RBI) lifted its ban on HDFC Bank on issuing new credit cards, the country's largest private sector lender on Wednesday said it had resources and plans in place to "further reinforce pole position in the credit card segment" and that it would "come back with a bang". "We will aggressively go to the market, with not just our existing suite of credit cards but also new offerings in the form of co-brands and partnerships," Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, said in a letter to his employees. The bank's management had earlier indicated that the lender had been sourcing liability customers aggressively over the past few months.
The plan is to establish a consultative panel and appoint mediators to address various domestic issues, both at the central government and state levels.
Industry bodies said the decisions will help attract much-needed capital, create jobs, encourage collaboration and benefit cash-starved small and medium enterprises.
Understanding how money works is the first step toward making your money work for you, says Harshad Chetanwala, co-founder MyWealthGrowth.
India, the bank's second biggest shareholder after China, is looking to borrow from the AIIB.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
'If the government was serious about co-opting the corporate sector meaningfully in the fight against COVID-19, it could have specified activities beyond cheque-writing,' notes Kanika Datta.
'If there is anyone who is a victim of vendetta politics, it is me.'
The three companies - Ola, Hyundai and Kia - will co-create solutions to operate and manage fleet vehicles.
'Cyrus was always very different. He would think before acting.'
The prime minister said that India has invited Germany to take advantage of opportunities in defence production in the defence corridors in Uttar Pradesh and Tamil Nadu.
Investment announcement for $100 bn over 5 years likely.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
We must see New Delhi's position as a signal of competition to the Chinese grand design for the 21st century world, says Nitin Pai.
The prime minister sees himself as the "vikas purush". But realising his government's agenda for development requires not just a more efficient administration but also a credible implementation plan, says Nitin Desai.
If the policy is extended to NBFCs and co-operative banks, they will have to disclose divergence in asset classification and provisioning during RBI inspections in their audited financial reports. Till now, these entities have been exempted from this. At present, there are more than 98,000 co-operative banks and 10,000 NBFCs. Sources said the RBI would concentrate on the top 50 co-operative banks and NBFCs.
Modi govt must bring about reforms to kick-start big-ticket infra projects.
At a time when capital allocations to real estate are growing globally, investors are expecting transparency standards in real estate to be at par with other asset classes, says Anuj Puri.
Without periodic booster shots to display of strength, how is this government what it aims to be? There was also the landscape of prosperity pictured; the in-season affair with 'amrit' stretched to a longer residence in 'Amrit Kaal', notes Shyam G Menon.
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
Woefully inadequate infrastructure is just one of the many reasons why a case is not settled within 180 days and even 270 days as envisaged by the law, says Tamal Bandyopadhyay.
The ongoing reforms and stress on infrastructure development and fiscal consolidation would have a positive influence on GDP growth, which averaged 5.9 per cent during 1992-2003.
'Banking is a business of trust.'
'From March 2020 to November 2021, the combined wealth of the billionaires of this country has doubled.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
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