Citing national security and confidentiality clauses, the Finance Ministry has declined to disclose information on exchange of correspondence among India, Swiss and German authorities in connection with the black money probe.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
Government-owned companies are more generous in rewarding their shareholders with dividends.
Venture capitalists Adam Wolfensohn and Ameya Bijoor tell Anjuli Bhargava about the kind of investments and companies they are looking to invest in.
Deutsche Bank India CEO has grand plans for the region.
Piramal Enterprises on Friday claimed that its bid for resolution of debt-ridden mortgage lender DHFL is highest and fully compliant with regulatory norms. Since the conclusion of the fifth and final round of the bidding process last month, Piramal Enterprises and the US-based Oaktree Capital are claiming that their bids are the highest and fully implementable. According to sources, suitors have submitted bids in the range of Rs 35,000-37,000 crore.
NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent.
The founder of the e-commerce firm, which specialises in procurement of industrial products, believes if he plays his cards right, his company could become a unicorn with a valuation of $1 billion in 5 years.
Union Finance Minister Pranab Mukherjee has brought about a coup in North Block by bringing an Indian Foreign Service officer Venu Rajamoni as Joint Secretary to head multilateral institutions division.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Cities are setting the rules that now carry life and death implications for their residents, and most of these rules are sought to be set by the municipal authorities who have never wielded such power, reports Subhomoy Bhattacharjee.
Sensex heavyweight Reliance Industries fell 2.76 per cent. In percentage terms, major laggards were Yes Bank, Indusind Bank, RIL, ICICI Bank, HDFC and Axis Bank -- plunging as much as 6.62 per cent.
The need for larger investment in infrastructure that is the biggest shortcoming, says A V Rajwade.
The IIM-B's 'Karnataka innovation report' has become the basis for the Congress party's election narrative, particularly to distinguish it from the 'Gujarat model of development', reports Archis Mohan.
Chetan Ghate, Pami Dua and Ravindra Dholakia have been appointed for 4 years
The most pressing issue facing the financial sector is the rising stock of non-performing assets in the banking system
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
President Gotabaya Rajapaksa on Monday fired Basil Rajapaksa from his post and invited the Opposition parties to join a unity Cabinet to tackle the raging public anger against the hardships caused by the economic crisis.
A lack of adequate disclosures raises the financing costs of corporate firms, especially sub-investment grade ones, and keeps the capital markets small, believes RBI deputy governor Viral Acharya.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
The disruptions caused by COVID-19 have more severely impacted small and mid-sized corporates, including NBFCs and MFIs, in terms of access to liquidity.
'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.'
These consistent performers are expected to maintain momentum.
Co-founders of India's latest unicorn expected Covid-19 to be a speed breaker; instead it accelerated sales. Cars24 now enjoys more than 90 per cent market share among all other similar online transaction platforms. Dhruv Munjal traces the birth of this used-cars platform.
Through anchor allotment, a firm can demonstrate the demand for shares by getting marquee investors on board.
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
I am not sure if Modi can ever act as a chowkidar, even if he wants to. But he can surely act as a thanedar, by ensuring a fast resolution of corruption cases once they come to light. Exemplary action is easier and will burnish his anti-corruption image, argues Debashis Basu.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
Strong MF investments, stemming of FII outflows and positive earnings in Q3 have helped market, say analysts.
Given the volatility of the global marketplace, India is already on a strong wicket and well poised to provide a lucrative option to foreign investors.
'Should we shortchange our investors by exiting early?'
What is killing the risk appetite of the bond buyers is the inconsistency in the central bank's approach. It needs to allow the yield to find its own level, gradually. To ensure that, the RBI may adopt a similar approach with which it handles a slipping rupee, asserts Tamal Bandyopadhyay.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
He said this in Parliament rebutting reports last month, which quoted the Swiss National Bank, the country's central bank, as saying in its annual report that Indian deposits had risen by 50 per cent in 2017.
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