'China's development is on a different scale from India's. They are very far ahead.' 'I don't think it will be possible in the next 30 years for us to catch them,' says Aakar Patel.
RBI Governor Raghuram Rajan has said falling oil prices act as a cushion for CAD, adding it is time India does away with restrictions on gold imports
Inflation indexed bonds assure a positive return over inflation.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
With a rise of around 30 per cent in the benchmark index S&P BSE Sensex, 2014 has been the best year for Indian equity markets since 2009, when the benchmark index surged 81 per cent.
Axis Bank Managing Director & Chief Executive Officer Shikha Sharma on the new mechanism for non-performing loans, the bank's loan portfolio, industry outlook and the bank's future plans.
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
Even as Union ministers allay misgivings over Agnipath, figures show a meagre 2.4 per cent of the ex-servicemen who applied for a government job could get one as the Centre and the states have been unable to recruit against the reserved quotas. Public sector undertakings (PSUs), ministries, and officials of Sainik Boards have blamed it on the lack of skill among ex-servicemen. They say veterans' inability to qualify in selection exams is one of reasons for this. Also, non-recognition of qualifications obtained from the military are reasons why their recruitment has remained significantly low, pushing them towards low-skill jobs.
The new Companies Act that came in to force qualified the money mobilised by jewellery companies as deposits and as a result they had to discontinue such schemes.
The case against Balaji and his aides pertains to his tenure as the state transport minister in the All India Anna Dravida Munnetra Kazhagam government during 2011-15.
The Reserve Bank remains laser-focused to bring back retail inflation to 4 per cent over a period of time in a non-disruptive manner, Governor Shaktikanta Das stressed while voting for status quo in interest rates, as per minutes of the October policy meeting released on Friday. The central bank has been mandated by the government to ensure the Consumer Price Index (CPI) based inflation is at 4 per cent, with a band of 2 per cent on either side. The retail inflation, which was above 6 per cent during May and June, has started moving down and stood at 4.35 per cent in September.
Lower inflation, FCNR(B) outflows likely to influence central bank decision
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
RBI said at the current juncture, the all-out effort is to maintain and sustain, with the hope that when life is secure, resources, energy and time can be marshalled to rebuild and revive.
The Supreme Court said on Thursday that it will hear "as and when required" a public interest litigation challenging the government's notification authorising 10 central agencies to intercept, monitor and decrypt any computer system.
There are four first information reports against Saradha Group in which it is alleged that thousands of investors were allegedly duped by the company officials and their associates who swindled their deposits.
Car sales dipped by 2.55 per cent in October, as the festival season demand for auto remained in slow lane.
Apart from 40 modules of Harvard, SBI has internally developed 500 e-modules for employees.
Outflows are likely to continue, experts say, till such time as the markets see a significant correction.
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
Kamath also said that the new bank, set up by India and four other members of the BRICS grouping, will strive to approve its first loan before end of the current fiscal.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
Deepak Narang, executive director of United Bank of India, speaks on Vijay Mallya's 'wilful defaulter' status.
Reserve Bank Governor Raghuram Rajan is widely expected to hold the key rates citing high inflation at the fourth bi-monthly monetary policy announcement on Tuesday, even though the pro-growth lobby has been wishing for a rate cut.
PE funds say they have enough money to buy two or three of the indebted companies and the issue is not cash but the management bandwidth to turn them around.
Does away with much of auction process in this market and reinvestment checks
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
North Block and Mint Road seem likely to now stick to the earlier convention of the RBI governor coming to Delhi and being the only MPC member meeting the finance minister and senior bureaucrats on pre-policy meetings
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit.
'I would recommend two parts to fiscal support. One, support the lower end of the society by direct intervention through ways such as direct benefit cash transfer. Second, give fiscal support to the stressed sectors in line with the Rs 3-lakh crore (Rs 3 trillion) emergency credit line guarantee norms'
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
Analysts expect earnings to become increasingly relevant given that the stocks have rallied on positive sentiment and the gush of liquidity. Macro factors, they suggest, have already led to a large re-rating in most counters
Will RBI chief have the final say, in the form of a veto
Greenpeace India on Tuesday said it was staring at an "imminent" shutdown within a month in the absence of funds.
