Listed realty developers saddled with unsold properties worth Rs 1 trillion
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
Industrial Development Bank of India has posted a net profit of Rs 400 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 350 million in the quarter ended December 31,2001.
RBL Bank's interim chief executive officer (CEO) and managing director (MD) Rajeev Ahuja on Sunday tried to allay concerns around the health of the bank. He said events during the weekend are not linked to RBL's asset quality. The bank said Vishwavir Ahuja, its managing director (MD) and chief executive officer (CEO), had on Saturday proceeded on leave with immediate effect on medical grounds.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
Jobs specialising in the creation and management of AI tools may witness rising salaries due to the niche expertise they require. Skills in AI research, development and the practical application of AI tools in business settings will also see strong demand.
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
IDBI bank is to be merged with Industrial Development Bank of India in the ratio of 142:100 (every 142 shares of bank for 100 shares of IDBI), with the government holding a majority stake in the merged entity.
The Union Cabinet has cleared a proposal to provide Rs 30,600 crore government guarantee for security receipts issued by the National Asset Reconstruction Company (NARCL) as part of resolution of bad loans, Finance Minister Nirmala Sitharaman said on Thursday. The proposed bad bank or NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts. The government guarantee would be invoked if there is loss against the threshold value.
India has managed to move a smaller share of its working-age population away from farm-related work than many of its neighbours. Bangladesh, Bhutan, Sri Lanka and Nepal managed to shift a bigger share of jobs to non-agricultural work than India, shows data from the year 2000 to 2023 the compiled from the World Bank's April South Asia Development Update report. Only Pakistan and the Maldives show a lower shift among South Asian peers.
Bharti Airtel has received financing commitments of up to $2.5 billion from top Chinese banks.
The corporate debt restructuring programme, initiated by the Industrial Development Bank of India and 59 other banks and financial institutions in the country, has been progressing well with 29 cases being registered.
Asian Development Bank (ADB) has kept its outlook for India's economic growth unchanged at 7 per cent for the current fiscal year while forecasting a weaker-than-previously expected pace for developing Asia. ADB's 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22. For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
The Industrial Development Bank of India-led consortium may get the government's backing for taking over the outstanding dues of foreign lenders, as part of efforts to restart the troubled Dabhol Power project at the earliest.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
Foreign investors are believed to have accounted for majority of the bids totalling over 10.5 crore (105 million) shares for MUL's maiden public offer.\n
Rajeev Chandrasekhar outlined his ideas to turn Thiruvananthapuram not only into a hub for higher education, but also a knowledge city, points out Ambassador T P Sreenivasan.
The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
Foreign venture capital worth $1.5-$2 billion and another Rs 10,000 crore (Rs 100 billion) from Sidbi's SSI Fund are expected to bolster small companies in the country this year, according to industry experts.
'The kind of jobs the advent of artificial intelligence, data science and so on are creating simply didn't exist before'
