GIC Re hinted that it may increase its reinsurance premium in Nepal.
Women entrepreneurs view the world through different lenses, hence, execute things differently, says Mohana Nair.
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.
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.
When the sun rises in 2022, the Indian hospitality industry will be waking up with prayers for survival, desperately looking forward to some form of support from the government as revival from the impact of the coronavirus pandemic of the last two years will be an arduous journey. Just as the industry was beginning to see a flickering light at the end of a long tunnel towards the end of 2021, the spread of the Omicron variant of coronavirus and subsequent extension of suspension of scheduled international passenger flights till January 31, 2022, has come as a dampener to those who were looking to have some business in the winter season. With inbound tourist arrivals unlikely amidst the pandemic, the industry wants the government to incentivise domestic travels with income tax benefits for a limited period so as to help the hospitality and tourism sector get up again by tapping the pent up demand for holidays, within the country.
'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.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
"We will be guided by our national interest," he said.
'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.'
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 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.
The vaccination rate needs to go up by three to four times, assert Ajay Shah and Amrita Agarwal.
The Central Board of Direct Taxes is set to rationalise I-T rules.
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.
'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'
The encouraging news, however, is that India features among the top four countries out of 44 nations that projected a positive hiring trend.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
A combination of fewer listings and falling 'average daily traded value' contributed to the drag in Q3.
The government has an opportunity right now to save Indians from deep recession, and in many cases, starvation, notes Kalyan Singhal.
FII stance, progress of monsoon, crude oil and rupee movement are likely to dictate the trend.
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.
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.
"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 another round of big-ticket reforms, the Union Cabinet will consider tomorrow raising the FDI cap in insurance sector to 49 per cent and opening the pension sector to foreign investment besides creation of a National Investment Board.
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.
Commerce and Industry Minister Nirmala Sitharaman told the Rajya Sabha 'the government is absolutely sensitive and seized of the matter'.
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
Unlike private carriers such as Jet Airways and Kingfisher Airlines, Air India has not given any security as insurance against default, the Lok Sabha was informed on Friday.
'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.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
It's unfortunate the govt seems close to bowing to pressure from a limited section of the public.
'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.
'Air India's privatisation is acceptable as long as its control does not pass on to a foreign entity,' says A K Bhattacharya.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
'Art Deco was the last of the truly international styles.'
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 much-delayed insurance bill and the goods and services tax bill are among the 39 bills that are expected to come up during the month-long Winter Session of Parliament beginning next week.
