This, Byju, was the time to apply the business lens, treat your company as a business, run your company as a business. Instead, you splurged, observes Suveen Sinha.
The corporate sector took production cuts, conducted inventory management and reduced staff to meet challenges following the govt's note ban decision
The AAP claimed that Sisodia would be arrested on Monday and alleged the move was initiated in view of the forthcoming assembly elections in Gujarat where it is in a direct contest with the BJP.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity.
The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571.
If you were deputed abroad, filing income tax can be tricky.
Tax department feels that the second quarter would be much better than the first quarter of the year as the economy has started improving.
'A sustainable growth rate of 8 per cent is evidently some distance away,' says T N Ninan.
Debt-ridden Future Group is now focusing on saving and rebuilding firms such as -- Future Lifestyle Fashions, Future Supply Chain Solutions, Future Consumer and Future Enterprises, after the Rs 24,713-crore deal with Reliance Retail was rejected by secured creditors, according to industry sources. However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before the National Company Law Tribunal (NCLT). Other companies like Future Enterprises Ltd (FEL), Future Lifestyle Fashions Ltd (FLFL), Future Supply Chain Solutions Ltd (FSCSL), Future Consumer Ltd (FCL) can sustain on their own and can be rebuilt by restructuring their liabilities with the help of current lenders and investors, said an industry source close to the Future Group.
The dairy company has alleged that Google India and also goDaddy.com were misusing their platforms for earning revenues through advertisements on fake B2B campaigns that duped innocent individuals seeking Amul franchise across India.
Profitability and cash reserves have halved since the global financial crisis.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
Besides, auditors are required to mention in their reports whether the companies have made adequate disclosures about dealings in junked notes during demonetisation
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
Flipkart Group on Monday said it has raised $3.6 billion (about Rs 26,805.6 crore) in funding led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at $37.6 billion. The company, which competes with Amazon, Reliance Industries' JioMart and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in the country. The current funding round has also seen participation from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad as well as marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
The cap of Rs 10,000 on daily withdrawal has also been removed.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
An analysis for the first eight months of CY18 shows that the value of RuPay and UPI transactions constitute 65.2 per cent of all transactions done through debit and credit cards, in value terms, across retail outlets by the end of August.
The asset quality of non-banking financial companies (NBFCs) deteriorated in April-September 2021 (H1FY22) owing to the second wave of the pandemic. Their gross non-performing assets (NPAs) rose to 6.8 per cent in September 2021 from 6 per cent in March 2021. The Reserve Bank of India's (RBI's) annual Trend and Progress report (FY21) said the sector might have to grapple with higher delinquencies as and when policy measures unwound. The pandemic posed significant challenges to NBFCs during the first wave (2020) also.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
The PIL, which could be listed for hearing during the week, termed Tuesday's notification of department of economic affairs and the finance ministry as "dictatorial" claiming it did not grant reasonable time to citizens for exchanging the specified bank notes to legitimate notes to avoid "large scale mayhem, life-threating difficulties".
As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
The Supreme Court has refused to interfere with the government and RBI's loan moratorium policy, and declined to extend the six-month loan moratorium period.
The social impact of this could be worse as 300 million subscribers may face the annoyance of network shutdown and churn.
SoftBank-backed mobility firm Ola, announced expansion of its employee stock options (ESOP) pool to Rs 3000 crore. Ola is also allocating an additional Rs 400 crore worth of stocks to employees in the run up to its IPO. The allocation rewards Ola's high impact employees and will lead to long term wealth creation for them.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
British telecom giant Vodafone is in discussions to sell its about 5 per cent stake in telecom infrastructure company Indus Towers to Bharti Airtel, according to industry sources. The deal, if it goes through, could be worth over Rs 3,300 crore, they said. When contacted, Vodafone refused to comment on the matter. An e-mail sent to Bharti Airtel did not elicit any response.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
'The finance minister said, the MSME is the backbone of the economy. My question is, what have you done for the sector?'
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
Nehal, 41, is charged in a New York Supreme Court indictment with Grand Larceny in the First Degree, Manhattan District Attorney Cy Vance, Jr. said.
