Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
'In real estate project insolvency, no one size can fit all.'
There is a need to have a 'CEO for Mumbai' in order to realise the ambition of making it a global financial centre.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
The stock exchange BSE has called off the merger of its unit at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development. BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
National Housing Bank, the refinancing and regulatory authority of housing finance companies in India, is of the opinion that reverse mortgage would fall under the tax bracket unless the government clarifies on exempting reverse mortgage.
Telecom Regulatory Authority of India Chairman Rahul Khullar said insurance companies have asked for 4-6 weeks to deal with unsolicited commercial call or SMS.
Indian regulators have identified certain groups as 'financial conglomerates' and they are being monitored closely for any systemic risks they may pose.
Govt to scrap 8 appellate tribunals; National Company Law Appellate Tribunal to take over Competition Appellate Tribunal's duties
Try to assess whether the broker has good knowledge of the prices prevailing in the area you are interested in, and is able to provide the pros and cons of various projects.
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
Ramalingam Kalirajan explains the pros and cons of both investment types.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
The Russian Direct Investment Fund (RDIF) and Dr Reddy's Laboratories have agreed to cooperate on clinical trials and distribution of Sputnik V vaccine in India, RDIF and Dr Reddy's said in a joint statement.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
The Rakesh Mohan Committee in its report in 2001 said that Railways' financial situation was extremely difficult and suggested new strategy for revenue generation.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
These include Goldman Sachs, HSBC, UBS, Deutsche Bank, Barclays, RBS, Citigroup and JP Morgan and they have said in their respective regulatory filings that they are cooperating with the relevant authorities in the investigations.
After opening close to 1,500 branches in 2022-23, HDFC Bank, the country's largest private sector lender, will continue expanding its branch network at the same speed in the current financial year. The lender says branch expansion is crucial for deposit mobilisation. As of March 31, 2023, HDFC Bank had 7,821 branches, up from 6,342 a year ago.
The choice should depend on the size of the retirement corpus, stage in life, and state of health.
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
Since there are many and complicated choices, retail investors stand to benefit
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
Currently, most crowdfunding platforms neither operate with proper authorisation nor are governed under any law.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
Its statement also said Facebook does not use WhatsApp payments information for commercial purposes.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
