For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
Partially paralysed but with unbreakable will power and determination, Nihad Panju has beaten the odds to become a fitness freak and is all set to run his 4th Mumbai Marathon on Sunday.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
The government introduced new tax rules on Wednesday aimed at reducing litigation with multinational firms over cross-border transactions the government considers tax avoidance schemes.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
The Reserve Bank on Friday superseded the board of the city-based Abhyudaya Cooperative Bank on concerns emanating from "poor governance" and appointed an administrator to manage the affairs of the lender. In what can be seen as a step that should allay depositors' concerns, the central bank did not put any restrictions or moratorium on deposit withdrawals because of the comfort it gets on the bank's finances, according to people in the know. "(The) action is necessitated due to certain material concerns emanating from poor governance standards observed in the bank.
Deutsche Bank in India has managed to avoid the bad-loan problems plaguing its rivals such as Standard Chartered Plc.
The UN Security Council on Wednesday failed to adopt a Brazil-led draft resolution that would have called for humanitarian pauses in the ongoing Israel-Hamas conflict to allow full access for aid to the Gaza strip after the US vetoed the text.
The Reserve Bank on Wednesday permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.
It hopes to attract billions of dollars in investment by this move, and may ease some restrictions on foreign inflows.
In his opening remarks at the virtual summit of the Shanghai Cooperation Organisation (SCO), Modi also said that some countries use cross-border terrorism as an instrument of their policy and the grouping must not hesitate to criticise them.
BJP MPs Nishikant Dubey and Manoj Tiwari allegedly entered the ATC room without permission.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
At the heart of Friday's case lay an ICICI Bank loan owed by Mallya's Watson and CASL, for which Diageo stepped in as a backstop so that it could be refinanced by Standard Chartered Bank.
Leading share-holders called for change.
The Indian Army said the exercise Vajra Prahar was "significant" in terms of security challenges faced by both nations in the backdrop of the current global situation.
'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
Afcons Infrastructure, whose chartered barge P305 with 261 personnel at the Bombay High offshore oilfield was wrecked by cyclonic storm Tauktae earlier this week, on Thursday said the weather deteriorated rapidly and reached levels far worse than forecasts.
'Sometimes, we forget that the most important thing is to smile.'
Auditor Deloitte flagged three transactions, including recoveries from a contractor identified in the Hindenburg report, as it issued a qualified opinion on the accounts of Adani Ports & Special Economic Zone.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
Inflation in rural and urban areas in July was 8.45 per cent and 7.42 per cent, respectively.
Environmental campaigners say they hope two outstanding court cases can still stop India's Adani Enterprises Ltd from developing a A$10 billion ($7.6 billion) coal project.
The company has battled opposition from green groups since starting work on the project five years ago
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
Beijing was caught by surprise as Kishida, who was on an official visit to New Delhi from March 19-21, entered Poland from India using a secretly chartered plane instead of the standard government aircraft, Japanese TV channel NHK reported.
Vastu Housing Finance is trying to leverage technology to distinguish itself in a crowded space.
Among India's capital-starved local banks, Essar is viewed as too big to fail.
The BKC commands Rs 28,000-29,000 per sq ft for office property and monthly rents are Rs 250-300 per sq ft
A record 39,510 runners have registered for the Standard Chartered Mumbai Marathon on January 19, 2014.
Ruias to sell Essar Steel stake to strategic partners.
Adani Wilmar's bid was approved by the committee of creditors of the bankruptcy-bound Ruchi Soya with about 96% votes in favour
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
In May 2014, FIIs were net buyers by Rs 20,225 crore (Rs 202.25 billion).
The number of serious incidents has more than doubled in the last seven years.
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
