Sanjay Nayar is said to be joining Kohlberg Kravis Roberts & Co as its CEO and Country Head in the country.
The USIBC, which works for strengthening US-India commercial ties, is a premier business advocacy organization representing 250 of the largest US companies investing in India joined by two dozen of India's largest global companies.
While participants in the domestic financial market are expecting a 25 basis-point policy repo rate cut in the December meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), economists remain torn between a reduction in rate cut and a pause.
'What solution can Gambhir or Nayar possibly give, apart from telling him to not play those deliveries?'
'Skirmishes with officials in the Press Information Bureau were an everyday affair as the newspapers sought clearances from the media censors for publishing the next day's editions'
During Emergency Indira Gandhi acquired absolute power. Lakhs of political opponents, students, activists were arrested.
The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts.
'Time has come to scrutinise the role of India's batting coach.'
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
When shares of Nykaa's parent FSN E-Commerce Ventures skyrocketed in debut trade on Wednesday, founder Falguni Nayar and family also saw their wealth surge to nearly $7 billion. And when the markets closed for trade, the wealth was well over $7.5 billion. The dream debut of Nykaa, in a market being flooded with initial share sales, sustained the momentum till the close of the trade as the scrip registered a staggering gain of over 96 per cent to end at Rs 2,206.70 apiece on the BSE.
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented. The scheme is expected to help companies address the skill gap in employment. Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there.
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
It's a difficult time for banks both at home and abroad. But Sanjay Nayar, Chief Executive Officer, Citi India, shrugs off Citigroup's problems in the US saying they haven't really impacted the Indian operations. Nayar admits there have been a few problems with the consumer finance business but tells Business Standard that Citi's India operations are well-positioned to see double digit growth over the next few years.
Banks have so far succeeded in passing on almost the entire increase in cost of funds to the borrowers, but are close to reaching a point where it won't be possible to transfer to borrowers the entire burden of increase in interest costs.
How just a few sentiment boosting measures by the government will go a long way in turning back the attention of foreign investors on India.
Brown's resignation follows that of Citigroup's South Asia CEO, Sanjay Nayar, who has quit the financial services major to join Kohlberg, Kravis, Roberts & Co as its Country Chief.
For India, we continue to believe that the market and clients here require flexible pools of capital that can address their financing requirements across the capital structure, says Sanjay Nayar, CEO and Country Head for India, KKR.
Refusing to disclose details, Citi India Chief Executive Officer Sanjay Nayar told reporters that non-performing assets in the consumer finance segment were much larger than expected, but added that business remained 'satisfactory'. "It is classic over-indebtedness, consumers were over-leveraged, while the underlying capacity remained unchanged," he said on the sidelines of a press conference.
Consolidation seems to the key word among private equity (PE) backed companies. In the first few months of 2011, about 20 merger & acquisition (M&A) deals worth $150 million took place.
Citigroup is all set to acquire direct custody, securities clearing and fund services business of ABN AMRO in select European and Asian markets, including India, for an undisclosed sum.
Foreign banks operating in India want the Reserve Bank of India to prepare a vision document on policy changes they can expect after March 2009.
Of the group's net profit, about Rs 900 crore was contributed by the bank's operations, which grew 33 per cent from Rs 700 crore a year earlier.
India CEOs of 12 banks form pressure group within IBA.
Citibank India will increase the interest rate on certain loan products, including home loans, due to rise in cost of funds and new risk weight norms.
Citigroup's Citibank arm is expanding keenly in India but is wary of taking stakes in local banks because of a cap on foreign equity and limits on voting rights, company officials said
Citibank India has reported a 46 per cent rise in net profit at Rs 571.62 crore (Rs 5.72 billion) for the fiscal ended March 31, 2004, compared to Rs 391.48 crore (Rs 3.91 billion) in the previous financial year.
The Delhi high court on Tuesday issued summons to former Maharashtra chief minister Uddhav Thackeray, his son Aaditya Thackeray and Rajya Sabha member Sanjay Raut on a defamation suit filed by MP Rahul Ramesh Shewale for allegedly levelling frivolous corruption allegations against him and the Eknath Shinde-led Shiv Sena faction.
FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
Shashank Singh says not finding a place in the Mumbai Ranji team was a turning point for his career.
The GST revenues for August 2023 have shown a growth of 11 per cent year on year due to increased compliance and less evasion, Revenue secretary Sanjay Malhotra said on Friday. The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022. "Roughly numbers are in the range of 11 per cent year on year growth as in earlier months," Malhotra told reporters.
Henry Kravis, co-founder of global private equity firm Kohlberg Kravis Roberts & Co, thinks India should go for a bad bank to deal with bad assets in banks. In an interaction with journalists in Delhi, he says there are plenty of opportunities in India. He was joined by India CEO Sanjay Nayar.
'When I saw Sridevi in Lamhe, I decided I wanted to be an actress.' Meet 3AM actress Anindita Nayar.
The first quarter of 2018 saw infrastructure and real estate drive investment worth close to $8 billion across 180 deals
"India will be home to a fifth of humanity, its economy 16 times bigger than today, and one of the world's largest consumer markets. India will be a world better in many areas"
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