Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO). 'The Financial Times' newspaper referenced UK Companies House records to reveal that 51-year-old Lord Johnson had been appointed as a director of London-based Elara Capital Plc in June last year and resigned on Wednesday, the day when the Adani Group announced withdrawal of the FPO. Elara, which described itself as a capital markets business raising funds for Indian corporates, was among the bookrunners on the FPO.
The entire selection process of the IOC chairman was shrouded in mediocrity and mystery.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
Pulbic banks have no reason to cheer Budget announcement.
Leading stock exchange NSE, which is facing allegations of governance lapses, has started the hunt for a new managing director and chief executive officer as the five-year tenure of incumbent chief Vikram Limaye is ending in July. The exchange has invited applications from candidates having IPO (initial public offering) experience for the role of the top post before March 25, according to a public notice issued on Friday. Limaye is eligible for another term. However, as per Sebi's rule, the incumbent needs to compete with other candidates to win the next term.
In the continuing battle between the promoter family and Invesco, ZEEL said its MD and CEO Punit Goenka has informed its board about a proposal made by Invesco about the merger, under which Strategic Group would hold majority stake but he was offered to be appointed as MD and CEO of the merged entity besides offering 4 per cent stake. In a regulatory filing, ZEEL alleged that Invesco's stance in their Open Letter that they "will firmly oppose any strategic deal structure that unfairly rewards select shareholders, such as the promoter family, at the expense of ordinary shareholders" runs contrary to the very deal Invesco was proposing itself a few months ago.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
The report said Zuma 'would do anything that the Guptas wanted him to do for them,' including firing competent ministers and senior officials at parastatal institutions, so that Gupta lackeys could be appointed to those positions.
NSE managing director and CEO Vikram Limaye on Wednesday said that he will not seek a second term at the stock exchange when his five-year term ends in July. This comes amid the National Stock Exchange (NSE) facing the regulatory probe in a case related to governance lapses at the bourse as well as in the co-location matter. "I have informed the board that I am not interested in pursuing a second term and will therefore not be applying and participating in the process that is underway. My tenure ends on July 16, 2022," Limaye said in a statement.
The run-up to next year's general elections might see some of the top executives of government-run companies getting unlucky. And, the period could become the best in the lives of those waiting in the wings.
The Appointments Committee of the Cabinet approved appointment of Sarraf, who at present is Managing Director of ONGC's overseas arm, ONGC Videsh Ltd.
During the debate on the 'Motion of Thanks on the President's Address', Leader of the House Piyush Goyal and Union Finance Minister Nirmala Sitharaman strongly objected to 'insinuations' against the prime minister, who was also present in the House.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
New listing on the BSE will create more jobs, say experts.
The Central Committee members on Sunday elected a 25-member Political Bureau which picked the Standing Committee members to govern the country.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
Bids to be evaluated according to guidelines by the civil aviation ministry, following which a buyer will be selected. Transfer of control to the buyer to be effected by June-end.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
With scrutiny that comes with a public listing, Deepinder Goyal's leadership could face its sternest test yet.
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
Does IAS officers' work go unappreciated, asks Ajit Balakrishnan.
The Supreme Court order has created a new legal framework for coal mining by ruling that only the Union government and its entities can do it.
Support from the committee gives Xi an indefinite extension on the reins of power, which will surely result in hawkish and insular policies. It does not bode well for relations with the USA, or with anyone else who does not bow the knee to Beijing, for that matter.
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
The Union finance ministry has sought views of the Securities and Exchange Board of India (Sebi) for setting up a 'social bourse.'
eBay and PayPal will be sharper and stronger, and more focused and competitive as leading, standalone companies in their respective markets.
A potential conflict of interest situation could have played in Dhoni's mind when he decided to quit, report Sai Manish and N Sundaresha Subramanian.
Modi said the biggest challenge would be to ensure that the disease does not spread to villages across the country after relaxations provided by the government.
The progress of the GST Bill in Parliament is also likely to remain in focus
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
Pharma shares were the top gainers led by Lupin after the company received EIR from USFDA for its Goa facility
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
Delhi's ritzy Terminal 3 is on the global top 5 list on social media and the first among Asian airports on social media.
The External Affairs Ministry on Thursday discarded the article titled 'India's embarrassing North Korean connection' by Nilanjana Bhowmick in Al Jazeera, a Doha-based broadcaster, saying the insinuation regarding New Delhi's assistance to North Korea in United Nations proscribed activities is 'baseless and without any merit.'
As an entrepreneur the most important quality you have to have is that all consuming passion to become an entrepreneur.
'Mr Modi has inherited a system that taxes businessmen and fritters the money away over ministries.'
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
In last few years, a number of global players have exited the Indian mutual fund business.
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