China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
For the wealthy, post-tax returns of debt funds would work out better
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
The 30-share Sensex ended up 142 points at 29,462 and the 50-share Nifty gained 26 points to end at 8,895.
'Most importantly, marking a departure from the past, the RBI has made it clear that it is not overtly worried about the level of the local currency,' notes Tamal Bandyopadhyay.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
'Cyrus was always very different. He would think before acting.'
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
'Information highways are getting stronger and being strengthened.' 'Occasionally, accidents could occur. But do you stop constructing highways because two motor cars collide?'
The changes would be the most ambitious overhaul to date of rules governing the liquidation or revival of companies in India.
Enthused by India's financial inclusion drive, US-based Accion, one of the biggest micro finance organisations in the world, has renewed its focus in India. Michael Schlein, bottom, left, chief executive officer of Accicon, tells Namrata Acharya in an email interview the Wall Street and Silicon Valley are eager to participate in opportunities presented by the issuance of the small finance and payment bank licences, the expanded banking correspondent opportunities, and the Jan-Dhan Yojna.
Finance Minister Arun Jaitley said that it is imperative to maintain high growth rates.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
There is as yet no clarity on how the process of consulting with the RBI Governor, initiated under Section 7 of the RBI Act, would unfold in the coming days. The government is keen that its suggestions made in the public interest should be heeded by the central bank, says A K Bhattacharya.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
'The government wants foreign companies to capture the insurance market.'
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
Industry bodies said the decisions will help attract much-needed capital, create jobs, encourage collaboration and benefit cash-starved small and medium enterprises.
MFs continue to find it difficult to attract and retain long-term money from investors
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
'Our strategy is intact and our important pillars for India -- the SUV roll-out and the focus on the cost of ownership of a car -- remain in focus'
The ED is contemplating a special audit of the account in the backdrop of rating agencies downgrading various debt papers of IL&FS.
The Kolkata-based firm already has a presence in 22 states with over 2,000 branches and 5.9 million borrowers.
The central bank has been intervening in the foreign exchange market by buying dollars, and this is capping the rupee's gains.
'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.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
To invest $1 bn in realty sector, mulls new funds; has done exits worth Rs 8,000 crore, says founder
Investors booked profits at higher levels despite the growth oriented Budget.
Make in India needs policy support for access to markets.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
As infrastructure, power hardly deal in cash, its paucity has failed to affect their receivables
Telecom operator Bharti Airtel Chairman Sunil Mittal on Wednesday said the telecom sector reforms approved by the Cabinet will ensure that the industry is able to invest fearlessly, and the company will respond to Prime Minister Narendra Modi's call to invest and accelerate the country's growth. Among a series of breathers for the stressed telecom sector, the Cabinet has approved the inclusion of revenues earned only from telecom services in the adjusted gross revenue (AGR), and the removal of penalty on dues to be paid to the government prospectively. Mittal congratulated and thanked the government for undertaking these seminal reforms to lift an industry that is at the core of his Digital India vision.
'When fund managers talk of being bullish for the long term, they assume strong economic growth.' 'That is what they have assumed every year, naively believing the pronouncements and promises of ministers.' 'Unfortunately, they have been wrong year after year,' observes Debashis Basu, editor, www.moneylife.in.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
'For the first month, we have only had 5.5 million who have paid the tax.' '40 per cent have paid nil as tax; 95 per cent of the taxation for the first two months has come from only 400,000 assessees.' 'So even now, the tax-paying habit, of paying a marginal or negligible amount, or not paying anything at all, is quite prevalent,' reveals Finance Minister Arun Jaitley.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
