If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c, suggests Bindisha Sarang.
While the government has infused huge capital into PSBs, the same has largely been used to mitigate losses and has failed to contribute meaningfully to credit growth.
The collapse of Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank in the US might create temporary liquidity issues but will not have any significant impact on the Indian crypto market in the long run, officials from several exchanges told Business Standard. All three banks are considered crypto-friendly. SVB offered services such as cryptocurrency custody and lending.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
Crude oil shipments from the US to India rose to the highest levels in November since the conflict began in Ukraine in late February, sparking hopes of a resurgence in oil flows from the US to the subcontinent, reveals shipping data. Shipments from the US have surged as Western nations prepare to impose additional sanctions on Russian crude flows. The US shipped around 450,000 barrels per day of crude last month to India, twice that of shipments in October, according to data from London-based commodity intelligence provider Vortexa.
Chiplun, Khed and several other towns in Ratnagiri and parts of neighbouring Raigad bore the brunt of the torrential rain and the subsequent floods over the last few days, with several rivers in the region flowing above the danger mark. Although the water level has receded to a large extent in most of the affected parts, the floods have left a trail of large scale damage - from sludge and heaps of mud in the houses and roads to loss of loved ones.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Piramal Enterprises on Friday claimed that its bid for resolution of debt-ridden mortgage lender DHFL is highest and fully compliant with regulatory norms. Since the conclusion of the fifth and final round of the bidding process last month, Piramal Enterprises and the US-based Oaktree Capital are claiming that their bids are the highest and fully implementable. According to sources, suitors have submitted bids in the range of Rs 35,000-37,000 crore.
While Prime Minister Narendra Modi's Ayushman Bharat health care scheme is just a slogan for the moment, it is the state's Mukhyamantri Amrutum health assurance scheme which is a comforting reality for many.
A friendly working environment, special healthcare facilities, flexible work hours, work from home options, support and camaraderie among the team members keep employees highly motivated in these 10 companies.
'Being able to stay home with him and grieve with him was invaluable.'
'The biggest lacuna in this agreement is it is called 'full civil nuclear cooperation agreement.' Actually, it is anything but full.'
Life insurers are launching these again. Invest if you are conservative.
If the Indian government insults them, then they will will ensure its removal, Gandhi said.
The sector faces many challenges and calls for prompt corrective action.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
Earnings growth in the early-bird sample has been driven by banks and iron & steel companies.
Retail investors usually get caught up in the frenzy of a bull market and burn their fingers in IPOs, warns Tinesh Bhasin.
Accusing the United Progressive Alliance government of "heaping hardships on people," Tamil Nadu Chief Minister J Jayalalithaa flayed its "knee-jerk" reaction of increasing Foreign Direct Investment cap in different sectors and warned that its "insensitivity" towards people will take its toll soon.
'Mr Modi has inherited a system that taxes businessmen and fritters the money away over ministries.'
According to the law, the contribution "should not be more than 5 per cent of the amount paid to gig workers. The government is likely to start seeking contribution from gig companies towards the fund from April 1, 2021.
The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering (IPO) of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday. The final decision will be taken by the Cabinet. The industry department is working together with the finance ministry's department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India.
The five-acre facility, set up by M&M through a joint venture with government owned company MSTC, went on stream in April this year
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
'There is still scope for selective stockpicking.'
Here are some areas where costs have grown, and where income that had been expected will not materialise.
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
Organisers said last December that the entire cost of holding the Games would come to about $15.4 billion, including $2.8 billion in costs for the unprecedented postponement from 2020. Since then, the projected bill for postponement has risen to $3 billion.
Concerns are swirling that Japan's dream of hosting the Tokyo 2020 Olympics could be a fatality of the spread of the new coronavirus, jolting organisers, sponsors, and media firms who have spent billions of dollars in the run-up to the event. Global insurers face a hefty bill if the coronavirus forces the cancellation of the Games, with estimates of the cost of insuring the showpiece running into billions of dollars.
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
The total value of assets held by India's financial institutions touched nearly $2.8 trillion, the third largest among BRICS nations, in 2013.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
Goods and services provided without any consideration are out of ambit of Consumer Protection Act; investors, too, cannot approach a forum. Tinesh Bhasin reports
