The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
Its entry will increase competition especially when WhatsApp too has received approvals to launch payment service.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
'Our family philosophy is to build a bridge between India and Britain.'
The Japan International Cooperation Agency has submitted the final report on the feasibility study of the proposed high-speed rail system on the Mumbai-Ahmedabad route to the Railway Minister, estimating the ambitious project would cost Rs 98,805 crore.
Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit.
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies.
Any shift in investor sentiment may result in speculators fleeing the gold market, driving its price down sharply, quickly. One significant risk for gold is a near-term reversal in the dollar, which recently fell to a two-year low.
Move to increase 90-day window to 120 days to give more time to borrowers to service loans.
However, the Indian economy is expected to bounce back in 2021, the World Bank said.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
News of all that's transpired on and off the football field.
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
Chief Economic Advisor Krishnamurthy Subramanian said India's economy will witness a decline in the current fiscal, but the drop will be limited if there is an economic recovery in the October-March period.
India has been seeking global action against Pakistan for allowing terror safe havens in its territories, and has been pressing for punishing Pakistan-based terrorists involved in a series of attacks in India, including the 2008 Mumbai attack.
Standard & Poor's Ratings Services, the international rating agency, has said that India is the second-fastest growing economy in the world with an average growth rate of more than 8 per cent over the past three years.
The issue of black money has been a matter of great debate in India and Switzerland has been long perceived as one of the safest havens for the illicit wealth
With the disruption caused by the second wave of Covid-19 pandemic, the 'fear of unknown' is looming over the government's privatisation drive. Although there is a lot of uncertainty and unpredictability on how things will unfold, the government is hopeful of completing the transactions listed in the Budget with a delay of one to two months, said a top government official. However, "there are many unknown factors now, and we do not know whether there could be a third wave. But we are trying to carry on with our work", the official said." Since there is a lot of uncertainty, the estimates will have to be revised as rating agencies are revising their outlook for growth.
The trend holds true globally as well, but with lower levels of inequality among the sexes, where on average, hourly wages of women are 16 per cent less than those of men.
India is one of the five countries where instances have been found that trade accounts of diamond business are being used to launder illegal funds to the tune of millions of dollars, according to a report by a global financial crimes combating body.
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
The US president, who has expressed disappointment over China's handling of the COVID-19 pandemic, claimed that it was the "incompetence" of Beijing that led to the mass killing across the globe.
The Pune-based vaccine major has entered into a collaboration with the University of Oxford and AstraZeneca to manufacture the vaccine.
A key lesson for the pharmaceutical sector in this case is to not downplay the significant impact that regulatory non-compliance can have on operations.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
The Enforcement Directorate (ED) has filed a money-laundering case against renowned cardiologist Dr Naresh Trehan and others in connection with allotment of land for the Medanta Hospital in Gurgaon, officials said on Wednesday.
Anurag Singal, founder of cajobportal, a job site that caters exclusively to CAs and commerce graduates tells us how he aims to skill and enable satisfactory employment to aspiring professionals.
These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
As lobbying and counter-lobbying intensify, right now, it looks like a T20 match, discovers Tamal Bandyopadhyay.
G20 summit noticeably lacked in responses to illicit financial flows, one of the largest drags on development worldwide
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
In a major boost to measures being taken by India against money laundering and terror financing activities, the Financial Action Task Force (FATF) on Wednesday said the country has substantially addressed the deficiencies in its regulatory framework and has become largely compliant with global standards in this regard.
According to a UN report, people live long, healthy lives in these 12 countries.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
