The RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
'There is no change in the overall story of economic recovery.'
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
'The digital economy will generate 60 to 65 million jobs by 2025, 20 million more than the 40 to 45 million existing jobs that are in danger of disappearing or getting automated,' points out T N Ninan.
The largest e-commerce entity of China is setting up its first India office -- an indication that it intends to capture a pie of the growing e-commerce market here. Raghavendra Kamath & Alnoor Peermohamed report.
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
Considering the economic downturn, the banking sector should help strengthen the cooperative sector to encourage small and medium industries and create jobs, Chavan said.
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
The primary problem is that India's garment factories are too small and they typically have 150 people and about 80 machines.
'Both of us are not politicians. We were forced to enter politics to counter corruption that is looting the country.'
Operating margins for some companies dipped in Q3, 2021-22 but this sector could be nearing the bottom of the cycle in terms of profits.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
Prof B Ravishankar from Mylapore, Chennai shares his inspiring story.
Congress chief spokesperson Randeep Surjewala released a list of 55 persons who lost their lives while standing in queues at banks and ATMs in the wake of demonetisation and demanded compensation to their families besides probe into their death.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
While Modi must worry about the electoral backlash of bailing out state-owned banks, China's communist rulers face fewer constraints.
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
'Real estate loans are given in the garb of retail loans, sourcing money cheap from the NHB refinance window.' 'This loophole is being plugged,' notes Tamal Bandyopadhyay.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
A customer wanting to buy a car would have to wait a long time for delivery.
'Who are these people on the streets?' 'They are youth and students who were hoodwinked, bluffed by Modi for the last seven years, with a promise of 2 crore jobs every year.' 'And Mamata sings the same tune.' 'But the youth can see that as long as there is Mamata or Modi, there is no hope.'
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
PM extended some old schemes and finally said yes to one that was legally mandated for past 2 years.
'Today, bankers don't want to take risks as the good decisions taken by them were not protected.' 'There is risk involved in all decisions, like businessmen taking risks in their businesses.' 'A banker must have taken a decision when the economic condition was different, and you cannot question him on the basis of the present situation in hindsight.' 'Naturally, this has affected the morale of bankers.'
'Over the next two quarters, markets will be guided by observing the earnings resilience of corporates during the second lockdown, progress of the monsoon and the damage, if any, to rural spending power due to the second wave.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
Economists expect Modi to announce big-bang reforms.
First, the Insolvency and Bankruptcy Code, much-lauded as a game changer, needs serious reform. Second, some vital policy choices would need to be made as far as competition law is concerned., says Somasekhar Sundaresan.
Farming and agriculture are crying out for a business model innovation, says R Gopalakrishnan.
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The state is trying hard to improve ease of doing business by several notches.
Between now and the general elections (likely in May 2019) there are 12 assembly polls, which analysts say, in a way will also be interpreted as a referendum on the Modi-led government's key reforms
