Indications are that the Tata Sons stand on listing of the company may come up for a discussion even if it's not part of the agenda
Seventeen persons, including four hailing from Taiwan, were arrested by Ahmedabad Cyber Crime Branch for allegedly operating a nationwide 'digital arrest' racket, a Gujarat police official said on Monday.
The Hinduja group is learnt to be looking at alternative means of financing, including private credit, to fund its Rs 9,661 crore all-cash offer to acquire Reliance Capital. The regulator, Insurance Regulatory & Development Authority of India (Irdai), had earlier rejected the collateral offered by the group to raise funds. The Hinduja group was in talks with Barclays, JPMorgan, Cerberus Capital Management and Apollo Global Management to raise up to $850 million.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
'If weak indicators persist, there is a risk that India could slip into a prolonged slowdown similar to the one experienced between 2014 and 2019,' warns Debashis Basu.
'Maharashtra is virtually in a debt trap.'
'It is the first technology in history which is not just a tool, it is an agent.' Yuval Noah Harari on the dangers on AI.
'That was my mistake.' 'Gautam Adani was not involved in forming the Maharashtra government.' 'Adani was not there in the meeting.' 'The meeting was at his guest house and we were sitting in his guest house.'
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The 16th Brics Summit beginning Tuesday in Kazan, Russia, is expected to see more focus on creating a sharper energy policy for Brics that ensures closer partnership among members in both energy security and energy transition, official sources said. The same is expected to be a part of the Kazan declaration, currently being negotiated, they added.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The government on Tuesday appointed C S Setty as chairman of the country's biggest lender State Bank of India (SBI) for a period of three years. Setty, currently senior most MD of the bank, will replace incumbent chairman Dinesh Kumar Khara on August 28.
HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.
The outlook for India's financial sector appears bright, but it needs to brace for likely vulnerabilities, said Economic Survey 2023-24 tabled in Parliament on Monday. The Indian financial sector is at a "turnpike moment", it said, adding that the dominance of banking support to credit is being reduced, and the role of capital markets is rising. For a country that aspires to be a developed nation by 2047, this is a long-awaited and welcome development, it said.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
Japanese investment giant SoftBank is looking to partially exit from three startups which are aiming at an IPO next year - Ola Electric, Swiggy and First Cry. But its decision will depend on the size of the offer for sale pool in each of the companies. According to sources aware of the strategy, Softbank invested over $850 million collectively in these companies whose value conservatively would go up more than 4.3 times to around $3.7 billion, based on preliminary estimates of their projected valuation when they go public next year.
States are on track of fiscal consolidation with their total borrowings reaching Rs 5 trillion till October, which is 60 per cent of the projected borrowings of Rs 8.38 trillion till December 2024, according to data from official sources. Government officials said the lower-than-projected borrowings by states were a sign of prudent fiscal management by them. States announce their borrowing plans every quarter.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
India will place restrictions on foreign direct investment (FDI) in the national interest to ensure safeguards because of its location in a highly sensitive neighbourhood, Finance Minister Nirmala Sitharaman said during an interactive session at the Wharton Business School in the US on Tuesday. "I cannot blindly accept FDI simply because we need investment, unmindful of where it is coming from. "We want business, we want investment, but we also need some safeguards, because India is located in a neighbourhood that is very, very sensitive," Sitharaman said.
India is expected to be the top recipient of remittances in 2023 as inflows increase 12.4 per cent to $125 billion, said a World Bank report on Tuesday. Mexico will come next by receiving $67 billion and China will follow it at $50 billion. The key drivers for remittance growth in 2023 are a tight labour market in the United States, high employment growth in Europe reflecting extensive leveraging of worker retention programs, and a dampening of inflation in high-income countries. India's growth in remittances is expected to halve to 12.4 per cent in 2023 from a historic peak of 24.4 per cent in 2022.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
According to the World Bank, economic growth in middle-income countries, including India, is not accelerating. 'In fact, it is slowing down as incomes increase, with the trend becoming more pronounced each decade.'
A video of Dehury crawling on a village road has gone viral on social media.
Radio Free Europe reported that the Asian Infrastructure Investment Bank, a Chinese-led development bank, suspended all business with Russia and Belarus on March 3.
Foreign investors turned net sellers in October, offloading shares worth Rs 27,142 crore in just the first three days of October due to intensifying conflict between Israel and Iran, a sharp rise in crude oil prices, and improved performance of Chinese markets. The outflow came after FPI investment reached a nine-month high of Rs 57,724 crore in September. Since June, Foreign Portfolio Investors (FPIs) have consistently bought equities after withdrawing Rs 34,252 crore in April-May.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The Development Credit Bank, an emerging private sector bank in India, would shortly go in for its IPO to raise Rs 300 crore (Rs 3 billion).
A bench comprising Chief Justice Pritinker Diwaker and Justice Ashutosh Srivastava passed the order while hearing a PIL filed by Anand Sharma and another person from Mathura.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
The November 5 US presidential elections, Federal Reserve interest rate decision, trading activity of foreign investors, and the upcoming quarterly earnings from domestic firms are the major triggers that would influence sentiments in the equity market this week, analysts said. In an eventful week ahead, a host of macroeconomic data announcements and global trends would also drive the markets, experts said. "The upcoming week is poised to be eventful on the global front.
The Reserve Bank on Wednesday retained the retail inflation projection at 4.5 per cent for fiscal 2024-25, with Governor Shaktikanta Das stressing that the central bank will have to closely monitor the price situation and keep the "inflation horse" under tight leash lest it may bolt again. Unveiling the October bi-monthly monetary policy, the Governor also said the flexible inflation targeting (FIT) framework has completed 8 years since its introduction in 2016 and is a major structural reform of the 21st century in India.
Terming Naxals the biggest human rights violators, Union Home Minister Amit Shah on Monday said security forces have been carrying out 'offensive operations' instead of defensive against the insurgents and have achieved big successes in recent times.
Co-lending deals between non-banking financial companies (NBFCs) and banks are likely to rise after the Reserve Bank of India's (RBI's) decision to increase the risk weight on consumer credit, industry leaders and experts say. Smaller NBFCs, they add, may increasingly opt for co-lending as capital markets could become costlier for them. "Smaller NBFCs will be more comfortable with co-lending because they are geography-specific in terms of industry or customers.
Christmas romance, heists, thrillers, it's all there on OTT this week. Sukanya Verma lists her recommendations.
The politician, Rao Nadeem, who is also a property dealer, did not attribute any reason for selling off his property.
Foreign direct investment (FDI) inflows into India have crossed the $1 trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at $1,033.40 billion during the said period.
The BJP and Congress have called out the 'Delhi model' as a hoax, built on sustained propaganda when the ground reality is different.
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