The US has been widely criticised for using pressure tactics to secure information from other countries, without reciprocity.
'EV-charging is the next big opportunity after fuelling'
Fund mobilisation by companies through equity and debt routes has dropped 20 per cent in 2022 to nearly Rs 11 lakh crore, as exuberance dwindled this year due to expensive credit avenues and volatile markets. The first half of 2023 could continue to remain challenging. The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war.
MUDRA bank will help microfinancing firms to lend more.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
Tata Power declared encouraging results for the April-June quarter (Q1) of the 2023-23 financial year (FY24). The firm's revenue rose 5 per cent year-on-year (Y-o-Y) to Rs 15,210 crore. It was driven by higher sales to distribution companies (discoms) and capacity addition in renewables. Company's adjusted profit after tax (PAT) rose 3 per cent to Rs 906 crore with reported PAT at Rs 1,100 crore on a one-time gain of Rs 235 crore.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
The poor and unbanked can take their rightful place as consumers of financial services only if the Modi government encourages different entities to advance the financial inclusion agenda, say Vikram Gandhi & Chandni Ohri.
The Reserve Bank of India (RBI) on Wednesday allowed payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems in the first phase of its plan bring non-banks in the same platform. "Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem.
'Rahul Gandhi might not be holding any post as of now but everyone knows that he is the "captain of the ship'
Chinese manufacturers are re-routing their products through the markets of other countries that India has Free Trade Agreements with.
The terror strike on Mumbai, carried out by ten suicidal terrorists and planned by the Lashkar-e-Tayiba, had cost less than Rs 25 lakh.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
'Negotiate a longer agreement with the escalation clause fixed now.' 'This will enable you to control future cost increases.'
The results are likely to please the Indian government, which has been trying to impress on domestic and foreign investors about its efforts to improve the ease of doing business.
Commercial banks in the country continued with their improving asset quality trend in the October-December 2021 quarter with slippages remaining under control coupled with healthy recoveries and upgradation of asset classification. The 28-listed banks reported improvement in bottom line with net profits rising 64.1 per cent year-on-year (YoY) and 21.5 per cent sequentially. This is mostly on account of a fall in provisions and contingencies.
21st century may have witnessed expansion of higher educational institutions, but who can afford it? Sushree Panigrahi & Jeet Singh look at the numbers.
Overseas investors have pulled out a net Rs 1,14,855.97 crore from the Indian markets in the current year so far, amid heightened geopolitical tensions and inflation concerns. Foreign portfolio investors have sold domestic equities worth Rs 48,261.65 crore so far this month, taking the year-to-date tally this year to a massive Rs 114,855.97 crore, according to depositories data. The exodus of foreign investors was largely owing to inflationary pressures and deepening global macroeconomic conditions following the Russia-Ukraine war, experts said.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
With infrastructure claiming a larger share, movement and distribution of cement is bound to change.
'When a Project Director is appointed, the whole organization -- including the Chairman ISRO -- works for his success. It is a lesson that has been of abiding value all through the other projects I have worked on,' recalls the late President, one of the earliest pioneers at ISRO.
The White House is planning another set of sanctions on Russia. This is likely to be announced on Wednesday.
There are millions of Indian women who avoid the responsibility of managing their finances due to a variety of reasons, including cultural and social conditioning.
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
A must-read excerpt from former RBI governor and former Rajya Sabha member Bimal Jalan's India: Priorities For The Future.
India has airlifted more than 6 million COVID-19 doses to nine countries in Phase-I under its initiative termed "Vaccine Maitri".
'Unlike the Chinese army that has been largely a peace time force, the Indian Army is a battle hardened force,' explains Colonel Anil A Athale (retd).
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Over 80% of graduate engineers passing out of universities in India are unemployable. With digitisation going mainstream, this skill deficit can be redressed through world-class training material, points out Ankit Shyamsukha, CEO, ICA Edu Skill.
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
These have always been pro-cyclical bets but new banks could erode RoEs.
A home loan is a long-term contract, so do shop around before signing on the dotted line, advises Sarbajeet K Sen.
The government paid Rs 164.5 crore to Infosys to build the new income tax e-filing portal between January 2019 and June 2021, Parliament was informed on Monday. "The contract for Integrated e-filing & Centralized Processing Centre (CPC 2.0) Project was awarded through an open tender published on Central Public Procurement Portal (CPPP) to Infosys Ltd, the Managed Service Provider on the lowest cost basis.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
Joy Basu, chief financial officer of rediff.com, has been named the winner in the category of medium-sized businesses in the 6th Annual CFO Awards 2006.
