'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
The decline in demand and rise in raw material prices due to high transportation costs are the major problems faced by micro, small and medium enterprises in the last 27 months, according to a survey. The report by Bhartiya Yuva Shakti Trust (BYST) also said that though markets have stabilised, about 57 per cent of the units that participated in the survey are struggling to get new orders for their merchandise. "Lesser purchasing power of consumers lead to reduced demand and increased raw material cost due to higher transportation cost with increase in fuel prices have been cited among key problems faced by entrepreneurs during the last 27 months," Lakshmi Venkataraman Venkatesan, founding and managing trustee, BYST, said.
Central Bank of India classified its loans to Go First as non-performing assets (NPAs) in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). The no-frills carrier has been under insolvency proceedings since May 2023 and ceased operating flights on May 3 this year. The public sector lender's exposure, including government-guaranteed emergency credit to the ailing airline, amounts to about Rs 2,000 crore.
In her Budget 2023-24 presentation, she also said the Centre will launch the 'Dekho Apna Desh' initiative to promote domestic tourism.
Amit Shah wants to increase the party's nationwide vote share by at least 10 per cent from the 37.7 per cent it secured five years ago and ensure above 50 per cent vote share in the states where it came close to that benchmark, but couldn't cross it.
Yes Bank and Ola launched a mobile ATM service where customers of any bank can withdraw up to Rs 2,000 per card from PoS terminals
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
The Lagrange point 1 (L1) of the Sun-Earth system is about 1.5 million km from the Earth. It is about one per cent of the total distance between the Earth and the Sun.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
We need to have patience as it is a dangerous operation,NDMA member Lt Gen (retd) Syed Ata Hasnain said.
He further said that the "focus is on horizontal drilling" as rock formation has created challenges for vertical drilling.
Unlike regular cab service providers, taxi aggregators like Uber and Ola are making it easy for the students to juggle work and studies.
Rescue work at the collapsed Silkyara tunnel in Uttarakhand was virtually on hold Sunday as the agencies involved in the effort set themselves up for the next stage -- adopting multiple approaches to reach the 41 men trapped inside for a week.
'Start Ups have to be really careful of the kind of talent they bring in, and the tone and culture they set.' 'It's absolutely crucial that the people we hire are motivated go-getters who can align with the company's long-term goals, culture and values.'
After nearly four years of underwhelming performances in equity schemes, Aditya Birla Sun Life Mutual Fund (ABSL MF) is experiencing a revival. During the first quarter of the 2023-24 financial year (Q1FY24), the fund house arrested its declining market share, bolstered by stronger equity fund results and subsequent ratings upgrades. Mahesh Patil, the chief investment officer, attributes this resurgence to changes in the fund management team and adjustments to investment strategies.
India and Vietnam are vying with each other to woo semiconductor companies to their country. With the tension between the US and China escalating, and Taiwan getting vulnerable both countries are trying to present themselves as alternative destinations for global players. Vietnam, which started the effort as early as 2010, has got a leg-up after US President Joe Biden's visit last month.
'...for success like the BJP.' 'The BJP's work for the next election begins the day one election ends.'
The 41 workers trapped in Uttarakhand's Silkyara tunnel for the last 11 days are likely to be rescued in the next few hours or by tomorrow, National Disaster Management Authority (NDMA) member Lt Gen (retd) Syed Ata Hasnain said on Thursday evening.
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
Approximately 80 leaders from more than 26 political parties are expected to attend the third meeting of the INDIA alliance in the country's financial capital, they said.
Mutual funds (MFs) are lining up distinguished new fund offerings (NFOs) for the next financial year to win over investors after a lukewarm response to product launches in the 2022-23 financial year (FY23). NFOs drew a lukewarm response in FY23 as launches were mostly in the passive debt space, which has a comparatively lower popularity among retail investors. The limited launches in equity space also failed to rake in huge sums due to subdued investor sentiments in a volatile market.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
Fintech companies believe that the impact of Reserve Bank of India's order last week on unsecured loans will be visible in six to 12 months and prompt them to diversify and strengthen their secured portfolio. Fintechs which source funds through banks or non-banking finance companies (NBFCs) are looking at quickly building their secured portfolio options to at least 40 per cent of their total portfolio. "Over the medium to long term, as part of our product strategy, we are evaluating secured products which can be enabled over a digital platform" said Yogi Sadana, the founder of Zype, a lending-focussed fintech.
As many as 31 mainboard IPOs raised a cumulative Rs 26,272 crore in this period, according to Prime Database. During the April-September 2007 bull run, 48 IPOs totalling Rs 21,243 crore were launched. The number of deals in H1FY24 was 2.2 times that of the same period of the last fiscal year, but the amount raised was 26 per cent lower.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
The average ticket size (ATS) of all transactions on United Payments Interface (UPI) in H1 2023 was pegged at Rs 1,604, marking a 10 per cent decline, compared to Rs 1,774 in H1 2022, according to data from Worldline India's Digital Payments Report. The reduction in the overall ATS on UPI is a good sign, suggesting a deeper embedding of UPI as it is being used for smaller or micro-transactions, and the dip is driven by the growth in person-to-merchant (P2M) transactions, the report said. The ATS of P2M transactions dipped 21 per cent from Rs 839 in H1 2022 to Rs 659 in H1 2023.
AzaadiSAT had around 75 small payloads developed by schoolgirls of 75 rural schools.
The TMC general secretary, considered number two in the party, shared the letter sent to him by the central agency on X, formerly Twitter.
My criticism for BCCI was about ticketing, scheduling and not against any individual: Prasad
The scheduled temporary runway closure is an annual exercise and a contingency plan on the same will help maintain operational continuity and ensure passengers' safety, the private airport operator said in a statement.
The Pakistani actor's tweet came after violence that broke out in many cities of the neighbouring country following the arrest of former prime minister Imran Khan for alleged corruption.
Bandhan Bank has declared disappointing results for the first quarter of the 2023-24 financial year (Q1FY24). While the market has been braced for known issues around microfinance exposures in West Bengal and Assam, there is higher stress in the portfolio. This means higher credit costs and poorer asset quality, leading to target downgrades by analysts.
'In the next one-and-a-half, two months you'll get decent amount of opportunities in the mid-cap and small-cap sector at lower levels.'
The pace of lending to the infrastructure sector, including power and roads, fell sharply to 1.8 per cent year-on-year (YoY) in May, 2023 compared to 9.8 per cent in May, 2022. Within the segment, the growth in loans to the power sector was at 0.3 per cent YoY in May 2023, down from 9.3 per cent in May 2022. The RBI data showed that outstanding credit to power sector stood at Rs 6.17 trillion in May.
The top 300 pharmaceutical brands in the country will now bear a quick response (QR) code on their packaging to rein in spurious drugs and ensure better traceability.
Rajasthan is all set to vote on Saturday to elect members of a new assembly with the Bharatiya Janata Party aiming to unseat the ruling Congress, which is fighting hard to change the trend of alternate governments in the state.
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