The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India. These legislations were designed "primarily" for the benefit of "small and marginal farmers", which constitute around 85 per cent of the total number of farmers and are the biggest sufferer of the "regressive" APMC-regulated market regime, the survey said. The pre-budget document defended the farm laws in the backdrop of long-running farmers' agitation at various borders of the national capital seeking repeal of these legislations expressing concern that they are pro-corporate and could weaken government regulated mandis, also called Agriculture Produce Marketing Committees (APMCs).
Officials said multiple premises of Baig and his associates are being raided by the agency under the provisions of the Prevention of Money Laundering Act
Finance Minister Nirmala Sitharaman on Friday announced a slew of measures to boost economic growth and address distress in various sectors
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Thursday said it has no intention to sell a part of its stake in Petronet LNG Ltd and Indraprastha Gas Ltd (IGL) to help its new owner avoid making an open offer for the two gas companies. BPCL holds 12.5 per cent of the shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Most of the unicorns or billion-dollar valuation firms including Flipkart, Paytm and Ola have had the maximum stakes owned by foreign funds. The founders of all these firms have either single digit stakes in their companies or in low double digits.
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
Adar Poonawalla says it took a five-minute chat with his father Cyrus before making the decision to manufacture Covishield. The bet paid off, and handsomely. Serum Institute now has the capacity to make 4 billion doses of Covishield annually.
Gandhi had put out a tweet in Hindi, taking off from a famous Ghalib verse to say that Jaitley was deluding himself.
Prime Minister Modi has certainly pulled back, and his political capital -- dependent as it is on an image that he knows best and never retreats -- may have taken a bit of a beating. But, equally, it is hard to say that the protesters have 'won', argues Mihir S Sharma.
Silverline seems symptomatic of how Kerala -- its claimed education, awareness and all -- overlooks its real problems, notes Shyam G Menon.
He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
'If many start-ups lose in this environment, there will be less number of people willing to start new businesses.'
DO: Whether or not your business has suffered losses, now is the time to optimise resources, cut back on unnecessary expenditure and spend every penny cautiously. DON'T: If there is a cash crunch, don't rush to fire staff. Instead, weigh in other options that will protect the interest of both the company and the employees. Must Read Advice from Apoorva Ranjan Sharma, MD, 9unicorn.
Goods and services provided without any consideration are out of ambit of Consumer Protection Act; investors, too, cannot approach a forum. Tinesh Bhasin reports
Chief Economic Advisor Arvind Subramanian's interview.
Being more financially savvy helps women choose the right balance between consumption spending vs investing for future and can hold them in good stead as life hands out various twists and turns along the way, says Piyush Baranwal
'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
The government has signed Bippas with 72 nations.
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
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.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
Experts explain the distinction between the rights of small and minority shareholders in public-listed and private companies.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
Private equity players said their research had shown that the PE share after COVID-19 could go up to 8-10 per cent.
Debt-ridden firm Reliance Capital on Monday objected to the proposed 33.12 per cent stake sale of Prime Focus Ltd (PFL) by Credit Suisse to PFL's promoter group at Rs 44.15 per share. Anil Ambani's Reliance Group company Reliance Capital in a statement termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group. However, Reliance Capital did not share the details of the "blatant abuse of the purported rights".
An investor would pay much less when he invests through a registered investment advisor than a distributor.
Black money can take the form of a high-end property in Southeast Asia, a cruise ship floating on the Mediterranean or blue-chip shares held via an offshore fund manager.
To ease pressure due to the coronavirus lockdown, corporate have asked banks and the government for a six-month liquidity line, so that they can pay off their suppliers and employees.
The government on Thursday brought a bill in the Lok Sabha to withdraw all back tax demands on companies such as Cairn Energy and Vodafone and said it will refund the money collected to enforce such levies.
The temptation to get into businesses that are hot is perhaps too great for any politician, no matter what his public slogans are. Nehru plunged into hot sectors of his time -- engineering and iron and steel. Modi has plunged into digital payments -- the hot sector of his time, notes Debashis Basu.
Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But that may not necessarily mean flow of more investments into India, unless investors are assured, besides important economic factors and impartiality of institutions, that social disharmony will not cause unexpected disruptions.
Assuming the private bank issues 20 billion shares at Rs 10 apiece (with face value of Rs 2 each), the total capital raise will be Rs 20,000 crore. And for the 49 per cent stake, SBI will need to put in about Rs 10,000 crore.
As you ring in the New Year, here's a list of the 10 most important financial resolutions to get your money train back on track.
Despite being election year, Indian ultra HNIs are more optimistic of the country's growth journey and expect wealth to increase in the year 2019.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
Sebi will be taking a number of measures to develop a derivatives market of commodities.
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