In the excitement over the allocation of bank licences for the private sector, a new category of licence offered by the Reserve Bank of India (RBI) last year went almost unnoticed. That was when the RBI consolidated the rules for prepaid payment instruments (PPI), popularly understood as e-wallets or gift cards. In the process, the regulator has fast-forwarded a bottom-up card usage industry in India that is completely different from the world of bank-linked credit and debit cards.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Sudhanshu Singh, director IBBM, MM Securities, answers your mutual fund queries.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
Despite inflation easing, experts see RBI maintaining status quo on Dec 2
India is home to almost 1.3 billion people.
In its scheme of things, tackling inflation now comes ahead of ensuring growth in the world's sixth largest economy, points out Tamal Bandyopadhyay.
'Valuations are very attractive, and most companies are cash-rich with strong dividend yields.'
Thanks to the flaws in the way it is implementing dynamic pricing, the Indian Railways is losing its premium travel base faster than ever before, say RailYatri's Manish Rathi and Kapil Raizada.
Moody's has forecast that China would be the only G-20 country to post growth this year.
According to the survey by Robert Half International and CareerBuilder, around 53 per cent of employers surveyed expect to hire full-time employees over the next 12 months, while 40 per cent would hire contract, temporary or project professionals and 39 per cent would add part-time employees.
HR experts believe however that times are changing and more and more companies are planning a revamp of their appraisal systems
The ability to make smarter data-driven decisions will be a critical skill that every employer will be looking at in every prospective employee.
Czech automaker Skoda on Monday forayed into the midsize SUV segment in India with the launch of its new offering Kushaq, priced between Rs 10.5 lakh and Rs 17.6 lakh (ex showroom Delhi).
Franklin Templeton Mutual Fund has said its six shut schemes have received Rs 15,272 crore from maturities, coupons and pre-payments since closing down in April 2020. The fund house had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market.
Assets under management with the mutual fund industry jumped a whopping 41 per cent in fiscal 2021 to Rs 31.43 lakh crore, despite a minor 1 per cent decline in March, says a report. The 1 per cent decline in assets on monthly basis in March was because of net outflows from open-ended debt funds, even though open-ended equity funds for the first time in June 2020 recorded net inflows, according to the industry data collated by Crisil on Friday. Marc saw net outflows of Rs 29,745 crore, taking down the industry's asset base to Rs 31.43 lakh crore, down from the record high of Rs 31.64 lakh crore in February, registering a whopping 41 per cent growth in the fiscal 2021 over the previous fiscal, said Crisil, adding cumulative inflows equalled Rs 2.09 lakh crore.
The Securities Appellate Tribunal has stayed a Sebi order that barred Franklin Templeton's Asia Pacific head Vivek Kudva and his wife Roopa from the securities market for one year.
From NITI Aayog to industry leaders to the Reserve Bank of India, all are apprehensive that any major increase in MSP, following the 2018-19 Budget announcements, would push up prices, if not immediately, in the next six to eight months after the decision is taken.
'The Chinese outdid them in the price game and turned the competitive dynamics at the lower end of the handset market from price to value.'
Union Home Secretary Ajay Bhalla said that vaccination against COVID-19, in the present scenario, is critical to break the chain of transmission.
The rise in US bond yields spooked investors last week and there could a further increase given the inflation dynamics, according to Christopher Wood, global head of equity strategy at Jefferies. "The US bond market sell-off has continued over the past week, and with it the increased potential for an inflation scare. "Still, there is plenty of scope for bonds to sell off more since the last time the 5-year forward inflation expectation rate was running at current levels (namely in early December 2018), the 10- and 30-year bond yields were significantly higher at 2.91 per cent and 3.17 per cent, respectively," the market guru said in his newsletter GREED & fear. The 10-year and 30-year US Treasury finished at 1.34 per cent and 2.13 per cent, respectively, last week.
Never let self-doubt get in your way and the fear of rejection stop you from growing.
Leadership, teamwork, communication, productivity, and wellness skills are essential for every employee's success.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Uttarakhand Chief Minister Pushkar Singh Dhami on Friday won the bypoll to the Champawat assembly seat defeating Congress' Nirmala Gahtori by a record margin of over 55,000 votes to retain his office.
Stop-losses are mandatory to prevent losses going out of control
Investors who cannot manage an asset-allocated portfolio or rebalance regularly, or do not have an advisor, may opt for these funds, but only after a detailed study of their strategy, suggests Sanjay Kumar Singh.
'The IPO window has been more or less open since the new government in 2014.'
It is advisable to avoid a fund until it develops a track record.
The second quarter of FY22 continued to show double digit growth for the top four IT services providers, with every vertical and geography growing well, even though the total contract value (TCV) looked soft for all the players. The trend was first evident in Accenture's Q4 numbers, which saw its TCV in outsourcing deals softer. A soft TCV does not mean that growth is declining, but it does point to the trend of few and scarcer mega deals.
From getting candid about their partners to confessing their embarrassing stories and cringe performances, Sasha and Kiara -- and, of course, the host Karan Johar -- gave us an entertaining episode.
India's growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer but is a three-percentage point in 2021 and 1.6 percentage point drop from its April projections. According to the latest WEO update, released ahead of the annual meeting of the IMF and the World Bank, the world is expected to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022.
Allaying investors' fears, Franklin Templeton AMC has said Sebi's order prohibiting the company from launching new debt funds will have no bearing on existing schemes managed by it. Sebi on Monday barred Franklin Templeton Asset Management (India) from launching any new debt scheme for two years and imposed a penalty of Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees of over Rs 512 crore (including interest) collected with respect to the six debt schemes. This amount will be used to repay unitholders, as per Sebi order.
Despite the absence of any notable price growth, transaction volumes are picking up in major Indian cities. The surge in sentiments is also backed by a significant rise in transparency in the industry.
Way before the rains arrived at Talwandi Sabo Power plant in Punjab, the one check the coal ministry was carrying out was the availability of coal stock with the generator. Talwandi Sabo Power Limited (TSPL), the 1,980-Mw thermal power plant of Sterlite Energy, part of the Vedanta Group, which supplies about 15 per cent of Punjab's power, is one of the most difficult locations to manage coal supplies. It is nearly 1,700 km from the mines of Mahanadi Coalfields in Odisha, the longest coal route in India and possibly the trickiest as it cuts through the traffic heavy rail lines between Delhi and eastern India.
Taking advantage of a Russian offer to sell its crude oil cheap and bear the cost of insurance and transportation, India may import as much as 2 million tonnes (mt), or roughly 15 million barrels of crude, from the sanctioned nation in 2022, Business Standard has learnt. This comes after reports that Indian Oil Corporation (IOC) bought 3 million barrels of Russian Urals from trader Vitol for May delivery. This will be on cost, insurance and freight (CIF) model, where the seller incurs the costs and pays the freight, including insurance charges.
The survey covered 1,210 IT executives and technology professionals from North America, the United Kingdom, Australia, New Zealand, Singapore and India. In India, 202 respondents from businesses with more than 500 employees across 18 industry verticals completed the survey. Overall, 89 per cent of the respondents said implementing a work-from-home policy had increased security challenges for their organisations. The risk posed by shadow IT was especially high, with 89 per cent of companies having no control over the software that employees purchase and install on their devices.
The severity of the second wave of COVID-19 infections in India poses a key challenge for the FMCG industry and the spread of the virus to rural areas on a relatively higher scale as compared to the first wave is also expected to weigh on industry growth outlook, according to ITC Ltd. There is heightened uncertainty around the timing and shape of the recovery trajectory of overall economic growth in India due to the virus, the company said in its Annual Report for 2020-21. In terms of consumption, urban-led recovery may be relatively muted compared to the first wave as consumers switch to precautionary savings mode and rising healthcare costs eat into household spending, while rural demand may also be blunted by the large-scale spread of the virus to the hinterland in the second wave.
