Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
The decline of over 5 per cent in PB Fintech's shares (the parent company of PolicyBazaar) in the past two days presents an opportunity for long-term investors to consider buying the stock, suggest analysts. By comparison, the benchmark S&P BSE Sensex has remained flat during the same period with a negligible gain of 40 points, or 0.06 per cent. Analysts believe that the recent selling is "overdone", as the company behind the online insurance portal remains committed to achieving profitability, and the potential threat from the government's online insurance portal, Bima Sugam, might be embellished.
'The Fed rate will peak in the range of 5.1-5.3 per cent during the second quarter of CY23 and will most likely stay there for a while before rate cuts start in CY24.'
The government on Saturday allocated Rs 2826.92 crore to the sports budget for the next financial year, which is up by a mere Rs 50 crore from the revised estimates of 2019-20. The government gave a substantial hike of Rs 291.42 crore to its flagship Khelo India programme for development of sports at the grassroot and youth level, which meant that most of the other heads got reduced allocation in an Olympic year.
Venture capitalists Adam Wolfensohn and Ameya Bijoor tell Anjuli Bhargava about the kind of investments and companies they are looking to invest in.
Finance Minister Nirmala Sitharaman on Tuesday highlighted "significant reforms" undertaken by the government including National Monetisation Pipeline (NMP) and National Infrastructure Pipeline (NIP) as she met institutional investors in Boston. Sitharaman arrived in the US on Monday for a week-long trip to attend the annual meet of the World Bank and IMF in Washingon as well as G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. During the official visit to the US, Sitharaman is expected to meet US Treasury Secretary Janet Yellen.
Year by year, our cities remain defeated in the face of weather conditions, costing us time, money, resources and often lives, observe Amit Kapoor and Bibek Debroy.
'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
'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.
The three main regulators have different approaches to grievance redressal and different standards to stop harmful from coming pitched at the consumer.
A total of 800 people, belonging to 237 families, have so far been shifted to safety by the district administration
There is a need to have a 'CEO for Mumbai' in order to realise the ambition of making it a global financial centre.
Singapore Airlines' deal with Tata Sons (Tata) will inject a further SGD 360 million ($267 million) into Air India. It will give SIA a 25.1 per cent stake in the enlarged Air India group following its takeover by Tata and merger with Vistara Airlines. The November 2022 deal between Singapore Airlines and Tata Sons to further inject $267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report. This agreement is still subject to regulatory approval. SIA in the statement said, "The merged entity will be four to five times larger in scale compared to Vistara, with a strong presence in all key airline segments in India.
India's dream to be in the forefront of international politics has come true. India has placed itself firmly as a major player in the shaping of a new world order, observes Ambassador T P Sreenivasan.
The vaccination drive was only one important part of India's globally recognised pandemic management and response strategy, observes Dr Vinod K Paul.
The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India's digital economy, making payment systems more efficient, and checking money laundering. In a concept note on Central Bank Digital Currency, the RBI said CBDC is aimed to complement, rather than replace, current forms of money and is envisaged to provide an additional payment avenue to users, not to replace the existing payment systems. "Supported by state-of-the-art payment systems of India that are affordable, accessible, convenient, efficient, safe and secure, the Digital Rupee (e?) system will further bolster India's digital economy, make the monetary and payment systems more efficient and contribute to furthering financial inclusion," the paper said.
'If not, we can become frighteningly chaotic, more chaotic than what we are today.' 'In today's environment in the country, we still have a window of opportunity.'
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
The procurement and distribution will be centralised though the government is yet to take a call on the initial number of doses that will be procured.
The Securities and Exchange Board of India (Sebi) has proposed measures mandating daily upstreaming of all investor funds from stockbrokers to clearing corporations (CCs). The step, aimed at reducing risk on client funds, will further deplete brokers' revenues as they will lose interest income with transfers being done daily. At present, stockbrokers convert the surplus funds into bank guarantees (BG) or fixed deposit (FD) receipts which earns them extra income.
The Delhi high court on Friday sought response from the Central Bureau of Investigation (CBI) on the bail plea by former managing director and chief executive officer of the National Stock Exchange (NSE) Chitra Ramkrishna in connection with the co-location case. Justice Sudhir Kumar Jain issued notice on the bail application and listed the case for further hearing on May 31. The trial court had dismissed the bail plea of the former NSE boss on May 12 and said that no ground for bail was made out at this stage.
'This move rendered the chiefs of important investigative agencies to the status of daily wage earners. It undermined the autonomy and independence of the agencies.'
Head coach Thomas Dennerby was a witness to the 'incident' and it was he, who immediately informed the AIFF.
On the Delhi-Mumbai highway, Rs 1,200 crore (Rs 12 billion) worth of fuel will be saved annually after the installation of ETC, the minister said.
The highest salary rose by 14.22 per cent from last year.
India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
Stock exchanges, clearing corporations, depositories, stockbrokers and Sebi-registered participants operating through these institutions have been exempted from the lockdown.
A bench headed by Justice Ashok Bhushan and comprising justices R S Reddy and M R Shah said that voluntary contribution can always be made to the NDRF as there is no statutory bar under the Disaster Management Act.
The total distance covered by the train will be 534 kilometres.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
There are lessons for the Congress to learn from the Karnataka elections of how burying the hatchet among top leaders and not washing dirty linen in public can help, says Ramesh Menon.
Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
In order to achieve $5 trillion GDP by FY'25, India needs to spend about $1.4 trillion over this period on infrastructure, according to the Economic Survey. During financial years 2008-17, India pumped in about $1.1 trillion on infrastructure. However, the challenge is to step up infrastructure investment substantially, the Economic Survey 2021-22 said.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
India's macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic. In an interview with PTI, Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months. "The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors," he said. Chakraborty noted that COVID-19 vaccination has been going on at a very fast rate in India.
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
The Centre on Monday earmarked a separate Rs 2,217 crore for 42 urban centres to tackle air pollution and announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles, even as it shrunk the budgetary allocation for the environment ministry from the last fiscal by nearly eight percent. Union Finance Minister Nirmala Sitharaman, in her budget speech for 2021-22, announced a total of Rs 2869.93 crore for the ministry, Rs 230 crore less than the last fiscal. Officials said the outlay has been lesser this time as the economy is recovering from the COVID-19 pandemic.
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