The Institute of Chartered Accountants of India will soon ask the International Accounting Standards Board to upgrade India's ranking in terms of compliance with international accounting standards to positive from negative.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
Catamaran, the family office of Infosys founder Narayana Murthy, is targeting 15 per cent returns on its portfolio investments per annum as it shifts focus from early-stage investments to growth and late-stage bets. This would double the firm's assets under management (AUM) from the current $1 billion to $2 billion over the next five years. "For direct investments, we are focusing on growth-stage investments and very selectively on early stage," Deepak Padaki, president, Catamaran, told Business Standard. "(This is) primarily because the early-stage space in India, in the last three-four years, has completely changed. "There has been a huge influx of capital in the last two years. It has become a very crowded space for early-stage investment," he said.
Concerned about the deteriorating financial and operational performance of the Kalanithi Maran-promoted airline, the DGCA had on Friday withdrawn 186 flight slots of SpiceJet and directed it not to take bookings for flights beyond a month.
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
Opposition Congress targeted Bengaluru South MP Tejasvi Surya, amid reports that the passenger, who accidentally opened the emergency exit of the plane was the Bharatiya Janata Yuva Morcha chief.
Regulatory capacity, hyperactivity and excessive prescription are the biggest challenges the financial sector is facing, said Meleveetil Damodaran, former chairperson, Securities and Exchange Board of India (Sebi). Speaking at the Business Standard BFSI Summit on Wednesday, Damodaran highlighted the need for simpler, clear, and continuous regulations in the financial sector. He opined that the industry had felt it challenging to keep pace with the changing regulations.
'If the South starts shooting on IMAX more, it will be beneficial. And likewise, it will benefit Bollywood directors.'
The woman said she was constrained to approach the court because Air India and the DGCA failed to treat her with care and responsibility after the incident.
Can there be one norm for the US and another for India?
The Life Insurance Corporation of India has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments. "LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. "LIC is looking at organic as well as inorganic growth opportunities.
PM2.5 pollution in the national capital has reduced by over 7 per cent in four years, from 108 micrograms per cubic metre in 2019 to 99.71 micrograms per cubic metre in 2022, the report by NCAP Tracker said.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
'If we want faster growth and want greater flow of credit towards the private sector, it's important to have many more of such large entities.'
Significant controls and exemptions to the government under the proposed Digital Personal Data Protection bill 2022 are likely to make it harder for companies to invest in data centres and data processing activities in India, according to global technology industry body ITI. The ministry of electronics and IT has floated draft Digital Personal Data Protection (DPDP) Bill 2022 and has invited comments on the same till January 2. "The Bill grants significant controls to the executive arm of GOI (Government of India) and delegates much of the detailed rulemaking authority to separate, as yet undefined processes.
Mulls ways to improve the bank's earnings, cut bad loans and step up credit recovery efforts
More than a dozen entities, both domestic and foreign, had come under the regulatory glare over alleged short-selling before and after the publication of the Hindenburg research report against Adani Group, two people familiar with the development said. The Securities and Exchange Board of India (Sebi), which is examining the rise in stock values of Adani Group in the past few years, is also scrutinising the trade data and trade pattern of these entities allegedly involved in short-selling and made significant profit. Enquiries in the trade pattern of these entities reflected a profit of over Rs 30,000 crore, pre- and post-Hindenburg saga, said one of the two people.
What does Neal Mohan, anointed the next CEO of YouTube, have in common with Sir Cliff Richard? They are alumni of St Francis' College. Mohan, who will take over the reins of the social media platform, is arguably the second most high-profile personality after the British music icon to be associated with the all-boys institution ensconced in the heart of Lucknow.
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
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 Opposition party asked whether the prime minister will take responsibility for the 'deadliest rail tragedy' of this century.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
Tamil Nadu's latest budget offers path-breaking initiatives and major boost for social infrastructure, which other state governments are sure to follow in the coming years, predicts N Sathiya Moorthy.
'We had hoped that however behind we were, we could've shown more fight but we knew we needed exceptional performances. It was not a 469-run wicket. We gave away a lot of runs -- bowling was disappointing. We played some poor shots yesterday.'
Leading share-holders called for change.
Noel Maye, chief executive of Financial Planning Standards Board (FPSB), USA, says the Indian attitude of "I am OK. My children will look after me" is wrong.
If all 102 grounded planes could fly, there will theoretically be 400 more Delhi-Mumbai flights every day.
While Rohit Sharma will lead the side, the inclusion of KL Rahul and Kuldeep Yadav is subject to fitness.
The mission is targeted for launch in the fourth quarter of 2024.
Borrowers wanting to prepay home loans can look forward to some relief as RBI on Tuesday indicated that it would scrap prepayment penalties charged by banks.
State Bank of India (SBI) may carry out a planned Rs 10,000 crore sale of infrastructure bonds in the market this week, with the securities likely to be of 15-year maturity, sources told Business Standard. SBI, the country's largest bank, had last week said its board had approved the issuance of infrastructure bonds in the current fiscal year. It, however, had not mentioned the maturity of the bonds or when the sale would take place.
Senior BJP leader and former state president of the party, Rahul Sinha, told PTI on Monday that all trains have either left from or would be leaving for their destinations in a few hours' time.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
'It is Dhoni, Fleming and the support staff who decide on cricket.' 'The fans expect CSK to do well, and with Dhoni at the helm, CSK is capable of it.'
Passenger and commercial vehicle prices are expected to rise as automobile companies invest in upgrading vehicles to meet stricter emission norms that kick in from April next year. The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real time driving conditions. Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to meet the next level of emission standards.
'While we do some metro-to-metro flying, we have got a lot of metro-to-non-metro cities like Bengaluru-Visakhapatnam, Bengaluru-Bhubaneswar, Bengaluru-Guwahati and Bengaluru-Kochi.'
The protesters assembled outside Dogra Chowk in the heart of the city and tried to take out a march in violation of prohibitory orders when the police swung into action and restored to mild lathicharge before detaining several of them, the officials said.
Talk to any member of the cabin crew on any Indian airline and you will hear the worst horror stories. Almost always, the targets of abuse in the air are female staff members who are called 'servants' or worse, points out Vir Sanghvi.
'It's an open secret that the UK business is structurally not in a great place.'
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