'Information highways are getting stronger and being strengthened.' 'Occasionally, accidents could occur. But do you stop constructing highways because two motor cars collide?'
'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.
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
Finance Minister Arun Jaitley on Wednesday said the country is on an "upward curve" and a good monsoon, GST passage and increased infra and rural spending will further accelerate the growth.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
Chinese companies keen to invest in Mumbai projects
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.
Corporate India at present is more indebted than all state govts put together.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
The company will engage various NGOs for the construction of toilets as well as undertake awareness campaigns for better sanitation, it said adding that a total of around 100,000 households would be benefited by the sanitation initiative.
'The force of reforms. The force of investment. The force of formalisation. The force of digital and green technology. And the force of youth and entrepreneurship. I am convinced that these 5 forces will propel India's rise over the next several decades,' predicts Kumar Mangalam Birla, chairman, Aditya Birla group.
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
Almost all infrastructure ministries continued spending on capex throughout the lockdown, even as the Centre tried to maintain some semblance of economic normalcy.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
Kharola leads from the front. As a team player, he also uses technology to improve processes whether it is training or assessing metrics, a key trait that would help to improve service quality of the national carrier.
The Union Budget 2016-17 has cheered the NBFC sector
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.
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
'2018 has seen a bi-polar market.' 'Thanks to gains in some key stocks, market returns are positive. But there has been huge wealth destruction in the small and mid-cap space.'
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.
'What we are actually missing in India is a platform wherein the government engages with cybersecurity experts, gets them employed and then utilises their capability to deter such attacks.'
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
Bankers and executives involved in ATM operations said challenges abounded in this segment.
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to India's fastest growing unicorn whose very business model saw a severe disruption, like several other firms and sectors.
Last year, the software giant launched a cloud adoption programme for SMBs.
DOIT is a 100 per cent subsidiary of Morgan Credits in which Rana Kapoor's daughters Radha, Roshini and Raakhe, are directors. In 2018-19, the company incurred a net loss of Rs 48.76 crore on revenues of Rs 59 crore - a sharp contrast to 2017-18 when it had profits of Rs 2.7 crore on revenues of Rs 43 crore. To fund these aggressive investments into its subsidiaries in 2018-19, DOIT used debt which doubled to Rs 600 crore in 2018-19 from the previous year.
Government may also consider giving relief to some of the worst-affected sectors.
If Nirmala Sitharaman does indeed present a 'never-before' like Budget on February 1, going by her promise, she would create a new benchmark for post-contraction Budgets, observes A K Bhattacharya.
Sitharaman, a newcomer on the Forbes most powerful women list, is ranked 34th. The Forbes 2019 list of 'The World's 100 Most Powerful Women' has been topped by German Chancellor Angela Merkel, followed by President of the European Central Bank Christine Lagarde in the second spot and Speaker of the US House of Representatives Nancy Pelosi, ranked third. Also on the list is Bangladesh Prime Minister Sheikh Hasina (29).
M-Cap of top 10 business groups went up by 46% this year.
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.
At $37 per dose, the Pfizer vaccine is much more expensive compared to $3 per dose for the Covishield.
'We have to make doing business in India easier.'
The Union Cabinet on Wednesday approved the participation of the private sector in the entire range of space activities, including planetary exploration missions, Union minister Jitendra Singh said. The newly-created Indian National Space Promotion and Authorisation Centre (IN-SPACe) will provide a level playing field for private companies to use Indian space infrastructure, Singh, who is the minister of state in the Prime Minister's Office, said.
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
We dance on every small achievement and forget the long-term objectives: Ajit Gulabchand, MD, Hindustan Construction Company.
The changes would be the most ambitious overhaul to date of rules governing the liquidation or revival of companies in India.
Race for Asia's No. 1 MFI spot: Bandhan now closes in on Grameen Bank
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