Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
Covering 37 different legislations such as the Partnership Act of 1932, Insolvency and Bankruptcy Code, and laws on environmental protection, consumer protection and labour interests, the recommendations have been shared with Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
Traders who pay in rupees generate over Rs 50 crore in daily cryptocurrency volumes. Indians actually invest a great deal more in forex-denominated trades, observes Devangshu Dutta, explaining why it is impossible to ban cryptocurrency.
The norms, say industry experts, are not sufficient to weed out fly-by-night contractors.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
'The concern that the bad bank may create a moral hazard for the system is extremely valid.'
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
India needs a place where all regulators could gather and function as in a war room.
'The quick fixes have failed; there is now no alternative to deeper reforms,' says Ajay Shah.
The fundamental debate remains where you stand on the long-term growth question. That is what every investor must monitor and come to their own conclusions, suggests Akash Prakash.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Report points out corporate vulnerability indicators remain elevated.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
After the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up, said Jaitley.
In the clip, which went viral on social media, an announcement on a truck-mounted sound system was heard about the call to boycott the community members, accusing them of spreading violence in Khargone.
Markets watchdog Sebi on Tuesday decided to tighten norms for utilisation of IPO proceeds by companies, introduce special situation funds to invest only in stressed assets and amend various regulations, including those on mutual funds and settlement proceedings. The board of Sebi, which met on Tuesday, also gave its nod for amending Foreign Portfolio Investor (FPI) regulations and introducing a provision for appointment or re-appointment of any person, including as a managing director or a whole time director or a manager, who was earlier rejected by the shareholders at a general meeting. Once the amended norms are in place, such appointments or re-appointments can only be done with the prior approval of the shareholders.
Non-Performing Assets are a wake-up call for public sector banks.
The raids, taking place mainly in South India, was termed by the NIA as the 'largest ever' investigation process 'till date'.
The central bank and Indian government has reached a "broad consensus" on the composition of a rate-setting panel.
... Are far-reaching social changes coming with it, asks Ajit Balakrishnan.
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
Head of central banks from various countries get into a 'Basel huddle' every second month at Basel at the headquarters of the Bank for International Settlement.
"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
'Clearly, the depositors of cooperative banks need the maximum protection.'
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
'A 180-days period -- for insolvency resolution -- is aggressive, but by no means inadequate.'
Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
India Inc has weathered many a storm during Covid-19: from supply chain disruptions to demand dips, steep increase in input costs to shortage of key raw materials. As most companies navigated unprecedented challenges on multiple fronts, realisation dawned also about the criticality of employee welfare in the survival of the business. And it was the human resources (HR) department that faced the greatest test on this front.
'What we see today is bargaining.' 'The man's family sets a price for him and then they start bargaining.' 'He is sold to the family that offers the highest price.' 'In this market, a woman is just a commodity to be sold because if she remained at home, it is a humiliation for the family.'
Pulbic banks have no reason to cheer Budget announcement.
The MPC states that the 4 external members will have a tenure of four years each.
Social e-commerce platform Meesho is set to disrupt the food and grocery market by offering free home delivery on all orders in over 200 below Tier 1 cities in a year's time, in the first phase. It is also disrupting the monetization model by focusing primarily on advertising revenues rather than commissions from sellers, as distinct from its competitors. The move is expected to challenge the big players in the sector which include Jio Mart, Tata's Big Basket, Amazon, Grofers, and others, many of which have minimum prices for free delivery.
Combining affordable IT with native Indian ingenuity and entrepreneurship F C Kohli believed would enable Indian small businesses match anyone and thrive.
Enactment of Insolvency and Bankruptcy Code has been instrumental in pushing up India's ranking in the 'Doing Business' report
Engineering graduates specialising in artificial intelligence and machine learning can earn up to 24 lakh a year, says Saran Balasundaram, founder and CEO, HanDigital, a talent consulting firm.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
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