Scams happen with high regularity because the price of getting caught is insignificant. Aggrieved investors run from the police to already clogged courts to find redress for issues for which financial regulators have been specifically set up. For over 3,750 years we have known what to do, but we don't do it, observes Debashis Basu.
Speaking during Prime Minister Narendra Modis video conference meeting with chief ministers of eight states which have reported high COVID-19 cases, Thackeray said the PM or Union Home Minister Amit Shah should convene a meeting of all parties to tell them about the seriousness of the situation.
A survey of 300 engineering colleges revealed that only 29 per cent engineers are employable, while 30 per cent can be made employable after further studies, whereas 48 per cent are simply not employable
The Reserve Bank of India (RBI) is precariously balancing two opposing objectives - maintaining easy financial condition in the domestic market, while ensuring external stability - and economists have started taking note. They say India is going through the classic trilemma of the 'Impossible Trinity'. The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates. What is even more complicated for the central bank now is that financial market stability overlays all the other three objectives.
India's human development indicators show that deprivation extends well beyond the 22 per cent of population who live below the official poverty line.
'The jobs that are being created now are the delivery boy jobs which are of extremely poor quality, or contractual jobs where you hire a person on a per piece basis.'
Ratnakar Bank to absorb RBS' employees involved in three businesses
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
'By extending its support to the LeT, China is not helping the cause of containment and eventual destruction of radicalism and terror.'
"The country wide vaccination exercise is being exponentially expanded to include those above 60 years of age and those above 45 years with co-morbidities, from March 1.
India is the fourth worst-hit nation by the pandemic after the United States, Brazil and Russia.
Realistically, coal will be the major fuel for electricity generation in India, as in America, for a long time.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
As education loans are given on a floating-rate basis (and not fixed), one needs to account for probable spikes in the EMI while choosing the loan tenure. Loans are available for up to 15 years, which could lower your EMI and ease your repayment burden, advises Mohan Jayaraman.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
The Union cabinet on Wednesday approved the construction of National War Memorial and Museum near the famed India Gate in New Delhi.
Sanjay Kumar Singh suggests key factors investors need to keep an eye on while choosing the direct investment route.
The volume of shares traded in the stock market had fallen 28 per cent in April. Turnover, or the value of securities changing hands, fell 12.6 per cent. This trend of falling volumes seems to have stabilised in May.
Beware: During the period that you avail of the moratorium, there would be no repayment of interest or principal. Thus, the outstanding will go up substantially for this period as a consequence
An ambitious long-term vision to ensure economic connectivity between India and the rest of Southern Asia is critical to India's trade policy objectives.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
EY said out of the nearly Rs 21 lakh crore package, Rs 8.01 lakh crore is on account of liquidity enhancing measures taken by the RBI since February.
International Olympic Committee (IOC) president Thomas Bach will meet Prime Minister Narendra Modi on Monday during his one-day whirlwind visit to discuss ways to take Indian sports forward amid speculation that the country might bid for the 2024 Olympic Games.
The Supreme Court Tuesday extended the stay on criminal proceedings against former Wipro chairman Azim Premji, his wife and others on their plea seeking quashing of summons issued by a Bengaluru court on a "frivolous" and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three companies with a Premji group firm. A bench of justices S K Kaul and M M Sundresh was hearing an appeal filed by Premji challenging the Karnataka high court order of May 15 which had rejected their pleas for quashing of the January 27 summons issued by the trial court.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
'People have been flying for years on the basis of a police clearance and an airport entry pass.' 'Then they came out with a convoluted thing -- that your police clearance must be from your place of residence.' 'Now if a pilot is sitting in Delhi but is from Timbuktoo, the papers will have to come from there.' 'So at any point, you have a certain number of pilots sitting on the ground because his AEP has expired and the papers haven't come.' Revealed: India's bizarre processes to get pilots to fly planes.
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
P-Notes, mostly used by overseas High Networth Individuals, hedge funds and other foreign institutions, allow such investors to invest in Indian markets through registered foreign institutional investors.
There, however, has been an improvement in operating margins.
There are overvaluation and excesses in many pockets of the market. This is most obvious in the IPO market, where loss-making companies have inflicted large losses on investors, observes Debashis Basu.
The bank has one of the highest current account savings account share, stable credit quality, robust credit growth, adequate capital and low cost-to-income ratio, said PNB chief Sunil Mehta.
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
The company hires postgraduate and PhD students from A+ grade institutes to be part of its research team.
As US businessmen and investors await Prime Minister Narendra Modi's US visit, the investor community and the industry leaders said the success of 'Mangalyaan' goes on to prove India's growth story based on 'frugal innovations'.
One out of every two Indians would have Aadhaar number by the middle of 2014, UIDAI Chairman Nandan Nilekani has said as he underlined the unique attributes of the identification system that will lead to public sector reform and governance transformation.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
