HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.
'There is not one discussion with a client without a discussion around AI. They all have it on their mind.'
'iNCOVACC' is priced at Rs 800 for private markets and at Rs 325 for supplies to the government of India and state governments.
Biden, who during his visit to India in 2013 had set the target of increasing the bilateral trade to $500 billion.
Twitter may launch the service toward the end of the first quarter but has not set an official date
'We will test the waters, ferret out information through our business correspondents, and only then open a branch'
How many of the apps downloaded in India deliver the GPT technology they say they are?
Pointing out the possibilities of social media, Modi said that one should not limit it to being the source of information.
The key proposals from the IT industry that were not addressed included removal of dual levies on software products
'Sector funds like IT funds should be included only in the satellite portfolio.' 'Limit your exposure to IT sector funds to around 5-10 per cent of your equity portfolio.'
Mutual funds are loading up on information technology (IT) stocks on improved valuations and low downside risk after a double-digit correction in top companies like Infosys and Wipro. IT stocks were MFs' top sectoral buys in April when they invested a net of Rs 2,100 crore. In the first four months of 2023, the net investments in IT amounted to Rs 9,500 crore, shows an analysis by ICICI Securities.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
An RBI-appointed panel on Monday recommended hosts of customer-centric initiatives for banks, including online settlement of claims by heirs of deceased account holders, flexibility for submission of life certificates by pensioners and a centralised KYC database. The report of the Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) has also suggested that the operations of accounts should not be stopped pending periodic Know Your Customer (KYC) updates. It recommended that there should be a time limit for the return of property documents to borrowers after the closure of the loan account, failing which a penalty should be imposed on the lender.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
'For god's sake, portray the armed forces in the correct manner,' asserts IAF veteran Air Commodore Nitin Sathe after watching Tejas.
The Army is looking at procuring the LUHs and LCHs to replace its ageing fleets of Cheetah and Chetak helicopters.
Our caste warriors will not even ask these questions, let alone explore better solutions to address the problems of inequality and skewed life outcomes, argues R Jagannathan.
Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
This would be the 44th flight of the PSLV and the third launch by ISRO this year.
The ministry said the rocket system has been upgraded with advanced technologies enhancing the range to meet the emerging requirements.
After the successful landing of Chandrayaan-3 on the Moon on Wednesday, August 23, Bollywood has joined India to laud ISRO (Indian Space Research Organisation) and its team for the historic mission.
India on Thursday approved proposals for purchasing 26 Naval variant of Rafale jets from France and procuring three French-designed Scorpene class submarines, a day ahead of Prime Minister Narendra Modi's wide-ranging talks with French President Emmanuel Macron in Paris.
Some of the celebrities whose names and details were used by the fraudsters are Abhishek Bachchan, Shilpa Shetty, Madhuri Dixit, Emraan Hashmi and Mahendra Singh Dhoni, Deputy Commissioner of Police (DCP) of Shahadra Rohit Meena said.
The Indian markets have seen a good run in the last three months with the S&P BSE Sensex rising around 7 per cent and the Nifty50 moving up 7.5 per cent. The next leg of the market rally from here on, analysts suggest, will be driven by a growth in corporate earnings over the next few quarters. That said, they do not expect material / sharp downgrades to India Inc's earnings estimates despite headwinds for the economy.
Another major announcement that came was an MoU signed between GE and Hindustan Aeronautics Limited to jointly produce fighter jet engines for the Indian Air Force.
"We estimate that Pakistan now has a nuclear weapons stockpile of approximately 170 warheads. The US Defense Intelligence Agency projected in 1999 that Pakistan would have 60 to 80 warheads by 2020, but several new weapon systems have been fielded and developed since then, which leads us to a higher estimate," the Nuclear Notebook column published in the Bulletin of the Atomic Scientists on September 11 said.
Portfolio management services (PMS), catering to higher networth individuals (HNIs), are facing tough competition from emerging alternative investment funds (AIFs), evident from their dwindling client base. In May, the number of clients for the industry stood at 125,390, down 20,528 in two months, shows data from the Securities and Exchange Board of India (Sebi). "PMS managers also have a high active ratio, which means their portfolios are quite differently positioned and more actively managed, compared to the benchmark, which is also a highlight for long-term investors.
This year's edition, three years lost to the pandemic and scheduling, wore a distinctive shade of green, and, as would befit an era of technology shift from internal combustion engines to electric motors, had a clutch of high-technology exhibits and concepts. But the excitement of the expo's heyday was missing.
According to the notification, publishers of online curated content displaying tobacco products or their use will be required to display anti-tobacco health spots each of a minimum of 30 seconds at the beginning and middle of the programme.
Several Opposition leaders, including former Congress chief Rahul Gandhi, on Wednesday attacked the government over a media report claiming that a key Adani group investor is also co-owner with the conglomerate in a defence firm.
While Sharath is the lone Khel Ratna award recipient, a total of 25 athletes including shuttlers Lakshya Sen, HS Prannoy, woman boxer Nikhat Zareen, athletes Eldhose Paul, Avinash Sable have been nominated for the Arjuna Award this year.
Earnings growth, attractive valuations and change in FPI flows from negative to positive over the next 12 months are some of the key triggers for an upside. "A poor monsoon, high inflation and further rate hike are some of the key risks
'Companies are coming to the campuses, and we have companies booking their slots for the placement season, but the overall number of companies signing is low, and the hiring numbers are also lower.'
Around 23 minutes after lift-off, the primary satellite got separated and it was followed by six other co-passenger satellites, which were deployed into the intended orbits sequentially, ISRO said.
The real value of the Tejas Mark 1 is the role it will now play in the development of India's next generation of fighter aircraft that will be more technologically advanced and lethal.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
'He is ultimately responsible for this failure, having ignored warnings from Egypt and the US about the attacks.'
Infosys Technologies Limited, a world leader in consulting and information technology services, will announce results for its third quarter ended December 31, 2005, on January 11
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