India's economy is not like Western ones, and thus needs restrained fiscal policy even during a recession, says Ajay Shah.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Among the private banking majors ICICI Bank and HDFC Bank were down 0.2%-0.5% each.
The company, which has been in the news recently for all the wrong reasons, maintains that it was forced to rationalise the staff strength as improvements in technology resulted in certain redundancies in customer, merchant and delivery partner support teams.
Women entrepreneurs view the world through different lenses, hence, execute things differently, says Mohana Nair.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
Jayshree P Upadhyay ' Mumbai September 9, 2014 Last Updated at 22:50 IST Top Stocks to Buy in 2014 8-10 Best Stocks for 2014 per month Highly Accurate Calls, Free Trial stockaxis.com/Stocks-to-buy-in-2014 Ads by Google 3 Add to My Page RELATED NEWS Foreign investor cap in bourses may be raised Sebi sets foreign portfolio investor limit of 10% per firm Sebi move on FPI regime grounded No clarity yet on FPI regime Jaimini Bhagwati: Correcting tax and disclosure anomalies Karbonn Titanium S5 Plus Be 1st to own latest Android phone with Dual SIM, 8 MP Camera & more!www.karbonnmobiles.com/S5_Plus 1Cr Life Cover @ Rs 543* Compare Premium of 46 Insurers Buy Online and save upto 55%www.policybazaar.com/TermInsur_Rate Ads by Google In a move that could increase the stake of foreign investors in Indian stock exchanges, the government is considering a threefold increase in the single-investor investment ceiling. Currently,a foreign portfolio investor (FPI) investment in an exchange is capped at five per cent. The finance ministry has written to the regulatory authorities to increase the ceiling to 15 per cent, said sources. The proposal is said to have in-principle approval from the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI). The move would bring the FPI investment limit in line with those for financial institutions such as insurance companies and banks. NEW POLICY IN THE WORKS Single foreign investor limit in exchanges to be revised from 5% to 15% Sebi and RBI have given in-principle approval to the proposal Government to amend foreign investment policy BSE has 8 foreign shareholders holding 31% stake NSE has close to 20 foreign shareholders holding 36% stake The government allowed the foreign investors to invest in stock exchanges in 2006, with an overall cap of 49 per cent. This latter cap is likely to be unchanged. BSE and the National Stock Exchange (NSE), the two large nationwide bourses, are likely to benefit from the increase in limits. BSE has eight foreign investors, which cumulatively own about 31 per cent in it. The shareholding of Deutsche Boerse Group and Singapore Exchange Ltd are a little below the five per cent ceiling. NSE has about 20 foreign shareholders, holding around 36 per cent. Cyprus' Gagil and Goldman Sachs own five per cent each; Citi Group has around two per cent. "The finance ministry has received representations stating that the present limit of five per cent is a deterrent in attracting long-term anchor and strategic foreign investors in stock exchanges. Following which, the ministry has sought comments from both Sebi and RBI," said a person privy to the matter. A higher foreign investor limit will not only encourage more investment in Indian bourses but help in exchange of technology and products, said exchange officials. "A five per cent limit on the shareholding of any single investor or investor group is too small to encourage them to take sufficient interest in growth of the exchange," said an official associated with one, asking not to be named. The regulator and the government are also mulling a change in the shareholding of clearing corporations, which could also see individual foreign investors' cap being increased to 15 per cent. Some sections of the market believe that allowing a single FPI to own 15 per cent in a exchange could be detrimental to having a diversified shareholding. The Bimal Jalan committee, in the previous review of ownership and governance of stock exchanges in 2010, had debated whether there was a need to revise the cap. It was in favour of having an anchor investor, such as a bank or financial institution, which would own up to 24 per cent. Read more on: Fpi ' Sebi ' Rbi ' Nse ' Foreign Investor ' Singapore Exchange ' Finance Ministry Read More Investors vie for shares of stock exchanges Pick-up in sentiment, volumes boost bourses' unlisted shares HDFC Life Click2Protect+ Get Lump Sum + Monthly Income Benefit* @ Affordable Rate. Buy Now hdfclife.com/Click2ProtectPlus Retirement Calculator Plan Your Retirement Online in 2Min Calculate & Compare Premium Here! policybazaar.com/Retirement Ads by Google Advertisements Get a freedom to choose your own plan. Click here to know more... Data transforming the match-making business. click here Open a free Trading & Demat A/c with Sharekhan Leadership and Corporate Accountability-India. Click here Great fares to Europe from INR 54,000* Amsterdam. Click here Start Investing with the best Broker in india Important Facts about Infant Hearing Screening Gifting Solutions. Make easy & perfect! Find out what converged solutions can do for you. Smart Cloud Virtualized Server Recovery. Learn more. The perfect drive the perfect style. Book a test drive 3 Add to My Page Back to Top Quick Links Go LATEST NEWSAll NewsIn this section Ebola threatening Liberia's existence, minister warns IS threatens to assassinate Twitter employees Motherson Sumi, Eicher Motors, TVS Motor gain inclusion in F&O segment ABG, Bharati Shipyard rallies on hopes of government sops Pre-market: Five stocks to watch out for in trade today US manufacturing industry pushes India for free trade Dollar gains on Fed outlook, hurts shares Wall St ends lower as Apple shares fall post launch Ukraine ceasefire 'mostly holding': US Flipkart launches third private label Citron News you can use Rss icon Errors to avoid when filing returns What is Gratuity? What are NEFT and RTGS? Check your Income Tax Credit credit status form-26AS online Saving capital gain tax on sale of property Calculate tax on your house property income How to Check your EPF Balance & status online Featured Videos iPhone killers? The biggest threats to Apple's dominance video Jaguar takes the battle to BMW video The 5 biggest IPOs in U.S. history video Here is the next-gen spy plane... a blimp video MOST POPULARReadSharedCommented Supreme Court reserves order on coal block allocations Apple launches Watch, two iPhones & Apple Pay Guj rains: Hundreds evacuated in Vadodara, Army on stand-by Neel Mukherjee's book in Man Booker shortlist Mumbai airport keeps airlines guessing on Airbus A380 parking bay Market News A fourth of mutual fund equity assets concentrated in 10 stocks ICICI Bank, HDFC Bank, Infosys, SBI and L&T among fund managers' preferred bets Den Networks: Investing in new growth avenues Its tie-up with Snapdeal to launch a shopping TV channel looks like a win-win deal Sensex, Nifty retreat from record highs on profit taking The BSE Sensex and Nifty fell on Tuesday from their record highs in the previous session as investors chose to book profits in recent ... High agri imports under govt lens Dept of commerce seeks ideas to curb import dependence for supply of commodities, writes to sector bodies MCX hopes FTIL stake sale will conclude by month-end The exchange's clarification came in the wake of FMC rejecting its demand to allow approvals for contracts for the March quarter of 2015.
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
The encouraging news, however, is that India features among the top four countries out of 44 nations that projected a positive hiring trend.
India's economy could prove to be the "most resilient" in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country's large market will continue to attract investments. The report titled 'Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021', and compiled by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), stated that inward FDI flows to South and South-West Asia slightly decreased by 2 per cent in 2019, from $67 billion in 2018 to $66 billion in 2019. The growth, however, was mainly driven by India, which accounted for 77 per cent of the total inflows to the subregion and received $51 billion in 2019, up 20 per cent from the previous year.
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
Governor Rajan can be more unambiguously pro-growth.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
"We will be guided by our national interest," he said.
The government has an opportunity right now to save Indians from deep recession, and in many cases, starvation, notes Kalyan Singhal.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
India is also exploring that way but the strength of the Indian economy was such that not even one bank was threatened, not even one insurance company was threatened, and we were able to withstand the shocks.
RBI would alert banks to exercise caution on their exposure to the real estate sector according to the process usually followed, sources said.
GIC Re hinted that it may increase its reinsurance premium in Nepal.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
A combination of fewer listings and falling 'average daily traded value' contributed to the drag in Q3.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
Prime Minister Narendra Modi on Thursday launched his government's mega scheme ' Pradhan Mantri Jan Dhan Yojana', declaring that it was aimed at eradicating financial untouchability by providing bank accounts to the poor.
With the US education system operating independently from the government, universities are adopting varying strategies when it comes to Covid vaccination.
"We are concerned about the data localisation law and the new e-commerce regulations...they do not fully take into account the needs of all stakeholders, including American and other foreign companies," acting principal deputy assistant secretary of the US, Thomas Vajda said.
'In the time I have been an Indiawallah, I have seen three US Presidential visits to India, nuclear sanctions, nuclear cooperation, a border conflict with Pakistan, the growth of IT services, a government losing a confidence vote, and so much more,' Rick Rossow, the new Wadhwani Chair in US-India Policy Studies tells Rediff.com's Aziz Haniffa.
While those who attended 'Livelihoods in Lockdown' learnt a lot, was anyone from the government listening?
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
'Air India's privatisation is acceptable as long as its control does not pass on to a foreign entity,' says A K Bhattacharya.
In the first part of an exclusive interview with Sheela Bhatt/Rediff.com on the eve of the first year of the Narendra Modi-led NDA government, BJP President Amit Shah talks about the government's achievements and the controversy over the land ordinance.
The Central Board of Direct Taxes is set to rationalise I-T rules.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
'Defence funding is channelled to State-owned research organisations where scientists are merely bureaucrats holding meetings and sending out minutes of meetings and press releases, but have long ago stopped any innovative work.' 'Unless this tragedy is fixed, India's chances to create world-conquering and job-creating new industries are slim,' says Ajit Balakrishnan.
GIC has increased its reinsurance business in Dubai from Rs 369 crore in 2007-08 to Rs 517 crore in 2008-09. Similarly, the company's fully underwritten cover amounted to Rs 326 crore this year in London, where it started operating in 2008. "Global insurers are showing faith in GIC. It has got some psychological support in view of its sovereign rating," a senior GIC executive said.
FII stance, progress of monsoon, crude oil and rupee movement are likely to dictate the trend.
'Art Deco was the last of the truly international styles.'
'We have often heard the mythical argument that patents block access to life-saving drugs, but only 5% of medicines from multinational companies are under patent protection in India.' 'Where these patented products are beyond the reach of Indian patients, the companies have programmes to facilitate access to their drugs, for free or for a fraction of the price,' points out Ranjana Smetacek, former director general, Organisation of Pharmaceutical Producers of India.
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