The jewellery industry has welcomed the government's decision to ban old Rs 500 and Rs 1,000 notes, saying gold demand will rise as people will have more faith in the precious metal than the currency notes. But the unorganised builders and secondary (resale) property market would be adversely impacted.
The meeting will focus on how to make the crisis an opportunity for India.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Combined net profit of BSE500 companies at $ 63 bn is 2.3% of GDP; global average is 5%.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
Market cap of government companies has remained unchanged in the past 8 years.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
While the first wave of moving work to India was driven by cost considerations, increasingly companies are banking on local talent to add value to their business by jointly developing products and solutions.
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
HDFC and HUL are the latest entrants in the club
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
It has mostly been a one-way street for markets that have moved up sharply since July. The front-line indices - the S&P BSE Sensex and the Nifty50 - have gained 6.7 per cent and 7.3 per cent, respectively, in the past three months. The rally in mid- and small-caps has been sharper, with both indices surging 14 per cent and 9 per cent, respectively, during this period. This sharp run has made analysts at Jefferies cautious.
Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Boost to dairy sector will generate jobs
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy. The RBI is scheduled to announce its bi-monthly monetary policy review on August 6 at the end of the three-day meeting -- August 4-6 -- of the Monetary Policy Committee (MPC). The RBI Governor-headed six-member MPC decides on the key policy rates.
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
CREDAI Chairman Lalit Jain said a long term status quo on interest rates would not help prospective home buyers.
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
With a sole mandate of inflation targeting, RBI wears many hats.
Analysts expect the indices to dip further if the global macros do not stabilise
Farming and agriculture are crying out for a business model innovation, says R Gopalakrishnan.
The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
Realty sector is facing a huge slowdown for last 3-4 years, leading to a significant delays in possession of flats to customers.
A day after Dalal Street witnessed its bloodiest battering, NSE chief Chitra Ramkrishna on Tuesday said there is no need for panic as in an inter-connected world, global developments are bound to have an impact on all markets.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism, nepotism or conflict of interest on her part in granting loans to Videocon Industries or any other company. However, the stance changed soon after the regulatory and probe agencies initiated enquiry in the matter.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
The road ahead for the markets in the short term will depend on external factors rather than domestic developments.
Corporates understand that the PMO drives all key decisions in this government.
Modi's'Make in India' drive launched last September included laying out a model of "port-led" development that would support industrial growth.
