India's macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic. In an interview with PTI, Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months. "The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors," he said. Chakraborty noted that COVID-19 vaccination has been going on at a very fast rate in India.
Amid an existential crisis facing the firm over Rs 50,000 crore unpaid dues towards the government, billionaire Kumar Mangalam Birla on Wednesday stepped down as the chairman of Vodafone Idea Ltd. Birla -- who had in June offered to give away his holding in the joint venture with Britain's Vodafone to the government -- will cease to be a director and non-executive chairman of the company at the end of business hours on Wednesday, VIL said in a filing to the stock exchanges. It did not give any reason for Birla's decision. He will be replaced by Himanshu Kapania (who was earlier managing director and CEO of Birla's Idea Cellular) as the new chairman of Vodafone Idea Ltd.
In 5 years, the AMC has clocked a growth rate of 40% with its AUM up nearly 4 times.
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
Jaitley promised higher investment in roads and railways.
Financial planners advise against putting capital to work by anticipating what might go up or down.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
Shareholders of the six listed Future Group companies voted on Wednesday. Bankers said all the large lenders had rejected the proposal.
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
With over Rs 55,000 crore debt, Air India management has been trying to pare burden by monetising non-core real estate properties.
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 Xi Jinping regime might try to quell internal distress by directing nationalism and militarism against India, warn Ajay Shah and Gautam Bambawale.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
Monetising real estate assets is part of the overall relief package that would be used to retire debts, upgrade networks, and offer VRS aimed at reducing the telcos' employee strength by half.
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
Mark Mobius doesn't see any crisis brewing in emerging markets.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Markets regulator Sebi is contemplating reforms in the IPO norms, especially on the book building, fixed price aspects and certain provisions pertaining to price band, its chief Ajay Tyagi said on Wednesday. Apart from initial public offer (IPO), the regulator is looking into further reforms on preferential issue front, Tyagi said at the FICCI's annual Capital Market Conference. He further said that the focus on review of equity fund raising norms will continue in the near future.
Those just starting their careers should avoid adding to their liabilities, especially if they already have an education loan. They should think hard before taking a car or home loan.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
New Delhi was reluctant to spook investors by clipping the bank's wings
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
The Budget decides to take the lead in revving up infrastructure.
Urjit Patel panel wanted all members to be appointed by RBI
India's stock exchanges have decided to jointly introduce the T+1 settlement cycle in phases from February 25, beginning with the bottom 100 stocks by market capitalisation. From March 2022, on the last Friday (or the immediate next trading day) of every month, the next 500 stocks from the bottom will be subject to T+1 settlement. The phase-wise implementation is expected to give all market participants, including foreign portfolio investors (FPIs), ample time to shift to the shorter cycle. The settlement cycle represents the time period within which the stock exchanges have to settle security transactions.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
The three main regulators have different approaches to grievance redressal and different standards to stop harmful from coming pitched at the consumer.
Rather, the existing ones should be implemented speedily to clean up the mess.
Bharti Airtel's fund raising is expected to strengthen its competitive positioning in the market and provide the telco with the necessary ammunition for aggressive 5G rollout, analysts said. The capital raising announcement, though unexpected and surprising, would enable Airtel to enhance its market share and provides it wherewithal to make faster investment in a scenario India moves to a two-player market earlier than expected, some analysts felt. Bharti Airtel's board on Sunday approved raising up to Rs 21,000 crore by way of rights issue at a price of Rs 535 per share.
Did men and women of redoubtable experience and public service, upholders of the country's steel frame and paragons of corporate governance, never smell a rat?
'Let's walk on two legs: Facilitate better resolution under the present system and set up PARA as well by transferring loans amounting to, say, Rs 1 lakh crore.'
Investors with stalled projects and mounting bad debt will refinance their loans.
Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.
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