Siddharth Roy Kapur's RKF aims to raise around $50 million by offering up to a 50 per cent stake in the company.
Rupee depreciation, if it continues, will likely pull the markets down further. Since September 2024, the rupee has declined by 3.1 per cent, the Nifty has dropped by 8.5 per cent during the same period, and the Sensex has fallen by 7.3 per cent. If the decline continues, markets will need to brace for more pain as it could push foreign portfolio investors (FPIs) to exit their positions faster than anticipated.
'I had to persuade him. I think he was a sceptic to begin with, but later on he was convinced that what we were doing was the right thing to do, that there was no other way out.'
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 in Parliament on February 1. The Budget is a statement of the government's estimated receipts and expenditures for a fiscal year (April 1 to March 31). It's divided into Revenue and Capital Budget. The Revenue Budget includes the government's revenue receipts and expenditures while the Capital Budget includes its capital receipts and payments.
The Air India Group has started vacating its offices, which are currently being operated from government-owned properties, from this month, as part of its strategy to consolidate workspaces across the country. The loss-making Air India and its international budget arm Air India Express were taken over by the Tata Group on January 27 this year, after successfully winning the bid for the airline on October 8, last year. Besides these two airlines, Tata Group also holds a majority 51 per cent stake in Vistara, its joint venture airline with Singapore Airlines (SIA), and a 83.67 per cent stake in budget carrier, AirAsia India.
This year, the genre has done especially well, with films like Stree 2 and Munjya. Will Bhool Bhulaiyaa 3 keep up the momentum?
Delhi's crime rate against women stood at 144.4 in 2022 -- the highest among all states and Union Territories.
'By investing in a basket of funds, FoFs can help minimise the impact of underperforming funds, thus reducing overall investment risk.'
'By his words, actions, and body language during their joint press appearance wanted to convey his personal respect and, more broadly, his desire to work closely with India.'
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
US President-elect Donald Trump has announced that Tesla CEO Elon Musk and Indian American entrepreneur Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE). The department will be tasked with dismantling government bureaucracy, slashing excess regulations, cutting wasteful expenditures, and restructuring federal agencies. Trump has called this initiative "The Manhattan Project of the current time."
'Let Fadnavisji prove to the people of Maharashtra that he acts fairly against one and all.'
The income-tax (I-T) department has started scrutinising cases for the assessment year (AY) 2018-19 to determine which of them need to be reopened, a process that might result in a raft of tax notices. This follows this year's Union Budget move to reduce the time limit for tax reassessment from 10 years to five in cases of escaped income. The new provision becomes effective on September 1 and will make past assessments for AY 2018-19 time-barred.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
The share of life insurance policies sold by top private insurers in the rural areas declined in the financial year 2023-24 (FY24) compared to previous year. SBI Life, HDFC Life, ICICI Prudential Life Insurance -- the top three players from the private sector-- have seen the share of insurance policies sold in rural areas drop in FY24 as compared to the previous financial year. Max Life Insurance's share of rural policies recorded an increase in FY24.
Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
The Night Manager has no surprises, feels Deepa Gahlot.
The Enforcement Directorate on Tuesday questioned former Indian cricket team captain and Congress leader Mohammed Azharuddin for over nine hours in a money laundering case linked to alleged financial irregularities in the Hyderabad Cricket Association, official sources said.
Arjun Menon looks at the Top 10 South films that made an impact in 2024.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
Industry experts believe that this deal will positively impact the Indian film industry, which is struggling with fewer movie releases.
'The shifts in US involvement in global conflicts and geopolitical alliances could introduce uncertainties.'
Inflows into equity mutual funds (MFs) continued their strong momentum in July, despite the market volatility triggered by the Union Budget.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
'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 agency was allocated Rs 835.39 crore to manage its affairs in 2021-22 which was later increased to Rs 870.50 crore in the Revised Estimates given in the Budget document released Tuesday by Finance Minister Nirmala Sitharaman.
Using credit or debit cards abroad can prove costly.
The US is currently Earth's most powerful country and a certain latitude of understanding -- a world view -- is popularly expected from its leadership. From a country identified with freedom, constitution, debate, democracy and the likes of Abraham Lincoln even as it had the most powerful military around, the US, following Trump's actions, seemed repositioned as militarily powerful with other qualities secondary, observes Shyam G Menon.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
'It has remained around 38 per cent over the past four to five quarters.'
The growing decline of MTech applicants in Indian colleges is due to multiple factors, including outdated curricula, poor return on investment and lucrative non-engineering alternatives, say experts.
Mutual Fund inflows in FY25 have already reached two-thirds of the total inflows seen in the entire FY24, with net inflows standing at Rs 1.3 trillion.
First things first: For those wondering if they need to reapply, the answer is no.
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
Tanden, president of the left-leaning think tank Center for American Progress, would have led a key economic post that oversees the production of the President's proposed budget for his agenda if she had been confirmed.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
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.
