The global turmoil in the banking sector has made analysts cautious, who advise that investors stay away from stocks of this sector till the overall sentiment improves. The recent trouble for the banking sector started with the collapse of US-based Silicon Valley Bank (SVB), Silvergate Capital and Signature Bank. On its part, Moody's Investors Service has also cut its outlook for the US banking system to 'negative' from 'stable', citing the run on deposits at these three banks that led to the collapse of these banking majors in less than a week.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
GDP growth of 7.7 per cent in the first half of this fiscal has "left sceptics gasping and woefully behind the curve", an RBI article said on Wednesday. It also stressed the buildup in the growth momentum is likely to be sustained. The article on the state of the economy published in the Reserve Bank's December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 per cent in the first three quarters of 2024-25 from 5.6 per cent in November.
Date, a 1990 Indian Police Service officer of the Maharashtra cadre who once sold newspapers in Pune to financially support his family, was honoured with the President's Police medal for gallantry for his role in what has come to be known as the 26/11 attack.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
A new generation of scholars -- this time, sociologists and anthropologists, who hitherto have been busy with researching social practices of primitive tribes and social structures like India's caste system -- are starting to cast their eyes on the financial sector.
Crypto exchanges have been asked to furnish details this month itself.
A four-member Delhi police team on Friday afternoon landed in Mumbai in search of the man, who had allegedly urinated on his female co-passenger on an Air India (AI) flight on November 26 last year, but found his home here locked, an official said.
India's first-ever Olympic medallist in women's boxing Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual UK-India Awards in Windsor.
The state with the most people has displaced the state with the largest economy in terms of investor additions. Uttar Pradesh (UP) added 126,000 new investors in April, reveals National Stock Exchange (NSE) disclosures. This is higher than Maharashtra's 118,000. Maharashtra, which is home to India's financial capital of Mumbai, has traditionally been the biggest source of investors.
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
The share of foreign companies in private sector investments, directed towards building new factories and other facilities, has declined over the past six months. A mix of large domestic announcements and relatively lower growth in foreign capital expenditure (capex) plans have played a role, although foreign investments remain near record levels. The share of foreign companies in the overall private sector investments over the four quarters ended June 2023 has dipped to 14.9 per cent, as shown by a Business Standard analysis of data from the project tracker Centre for Monitoring Indian Economy.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
Among Sensex shares, Bajaj Finserv fell the most by 4.08 per cent. Bajaj Finance declined by 3.01 per cent, Tata Steel by 2.2 per cent, Wipro by 2.09 per cent, Tata Motors by 1.96 per cent, IndusInd Bank by 1.9 per cent, SBI by 1.75 per cent, Tech Mahindra by 1.66 per cent and HCL Tech by 1.2 per cent. TCS, Infosys, Power Grid, Maruti, Reliance, HDFC twins, L&T, M&M, NTPC and Ultratech Cement were also among the losers.
Amid news of a fuel shortage in some parts of the country and wider unrest over fuel issues in the neighbourhood, an analysis of the data from international tracker globalpetrolprices.com shows that the per litre price of petrol is higher in India than in seven out of its nine neighbours.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
Nobody is held accountable for lapses, no matter how badly it affects the person or business whose accounts are frozen. Nor is there compensation for losses. Most people get to know their accounts are blocked only when a cheque bounces, points out Debashis Basu.
'All those who participated in the agitation were branded as anti-nationals.'
Paytm's Rs 18,300 crore IPO was oversubscribed 1.89 times on the last day of India's biggest share sale on Wednesday, making it one of the country's most valued companies. The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 9.14 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges. While the portion set aside for retail investors was oversubscribed early, institutional buyers including FIIs flooded the share sale with offers on Wednesday, seeking 2.79 times the number of shares reserved for them.
If we as citizens, do not take ownership of public places, public facilities and public conveniences, Swachh Bharat will remain just a hollow slogan, notes Biswajit Dasgupta.
The Centre is looking to continue maintaining an arms length in financial sector appointments.
Taking both direct and indirect taxes, the gross collection is expected to grow 10.45 per cent to Rs 33.61 trillion in 2023-2024.
New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore. E-invoicing provides real-time access to invoices that are prepared by the supplier on the purchase of goods, allowing faster accessibility to input tax credit, thereby limiting the manipulation of fake credit as it has to be generated before the transaction. "The default has been reported mainly in businesses with a turnover between Rs 5 crore and Rs 20 crore," a senior official informed
Goods and Services Tax collections jumped 10.4 per cent to over Rs 1.72 lakh crore in January, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms. This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 lakh crore or more, a finance ministry statement said on Wednesday.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. "The Authority has identified SBI Life Insurance Company Limited (SBI Life), which is one of the largest life insurers in the country with satisfactory financials, as the acquirer insurer of the life insurance business of SlLIC.
Heavy rains continued to pound Chennai and nearby districts on Monday under the impact of a cyclonic storm, which is likely to cross the coast in Andhra Pradesh on December 5.
The RS allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new financial innovations, while carefully monitoring and containing their risks.
The India meteorological department's Mumbai centre has predicted heavy to very heavy rainfall in the city and suburbs in the next 24 hours, with a possibility of occasional gusty winds reaching 50-60 kmph, the official said.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
The idea is to keep the RBI's information technology (IT) infrastructure in top shape to run the payments and settlement system uninterrupted 24x7, and run the full gamut of RBI functions from the secured data centres, as nearly 14,000 RBI staffers, except the senior-most management, work from home.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
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.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
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