India's services sector activity moderated further in January as new business rose at a noticeably slower rate amid the escalation of the pandemic, reintroduction of restrictions and inflationary pressures, a monthly survey said on Thursday. The seasonally adjusted India Services Business Activity Index fell to 51.5 in January, down from 55.5 in December, pointing to the slowest rate of expansion in the current six-month sequence of growth. For the sixth straight month, the services sector witnessed an expansion in output.
'The government has realised that the finances of the government are in a precarious state.' 'We are borrowing to fund the ever-burgeoning revenue deficit.' 'Then you are paying interest on the fresh borrowing.' 'For the first time, the government has realised that this cannot go on.'
With satisfactory progress of monsoon rainfalls prompting farmers to bring in additional area under basmati sowing, prices are set to fall lower going forward.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Analysts expect the central bank to remain watchful of inflation.
This is good news for the central government at a time when crude oil prices are rising.
With a rise of around 30 per cent in the benchmark index S&P BSE Sensex, 2014 has been the best year for Indian equity markets since 2009, when the benchmark index surged 81 per cent.
How Chanda Kochhar and her husband Deepak Kochhar find themselves in a huge controversy.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
Loss of power in Bihar has upset the Bharatiya Janata Party's calculations for the 2024 Lok Sabha polls but a section of its leaders also see a chance for the party to break the dominance of regional parties in the state, like it has in Uttar Pradesh.
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
The markets will be eyeing the amendments.
The government is ready to support Air India, but wants the airline to improve its performance.
India's services sector activities contracted further in June as the intensification of the COVID-19 crisis and reintroduction of containment measures restricted demand, a monthly survey said on Monday. The seasonally adjusted India Services Business Activity Index fell from 46.4 in May to 41.2 in June, as new work intakes and output contracted at the fastest rates since July 2020, which prompted companies to reduce employment again. Subdued demand conditions resulted in a second successive monthly drop in new business received by services firms.
NGO rebuts Enforcement Directorate's charges.
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
Banks have not cut rates yet as March is typically a busy season.
The specifics will also cover what's fit and proper to be a chest manager; the insurance and re-insurance aspects; and the new capital threshold, which is Rs 100 crore now.
The process of getting a new promoter on board is likely to take another two to three months and once that happens, the banks would offload their stakes.
A leave vote means the future of Britain's financial services industry is now hanging in the balance.
Even as the industrial cycle has ground to a halt during the 21-day lockdown, the industry has been hit hard by foreign orders from major clients in the US and Europe being cancelled. Also, a sudden lack of labour has crippled the sector because of a mass exodus of workers from industrial units to the hinterland.
In a communication to chief secretaries and director generals of police of all states, the ministry asked them to take action to allay apprehensions and maintain peace and tranquillity, and inform people about the availability of food, medicine and other essential commodities.
Documents such as PAN card, Aadhaar card, I-T return papers, which are used for KYC, can get leaked from a number of sources. Other prominent sources are the direct sales agents and photocopy shops, say Sanjay Kumar Singh.
With the first salary date after demonetisation around the corner, will India's labourers be able to take their hard-earned wages home?
Santosh Kamath, partner (infrastructure and government services), KPMG in India, expects an extension of a tax holiday for the sector.
'Experts are not ruling out further pain as global factors cannot insulate India from the aftermath.'
Will Infy spring a surprise in subdued second quarter?
A strong showing will be vital to Narendra Modi's chances of a second term.
The mid-cap universe - comprising firms that rank 101-250 in terms of m-cap - could see as many as 17 new stocks move out. Similarly, over half a dozen stocks could exit the large-cap universe, which is defined as the top 100 entities in terms of m-cap.
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
Remittance into India from foreign countries has already seen a jump of 25% in the last two months
Geopolitical concerns, earnings sees investors rush to safe haven plays post the Union Budget presentation in July.
Where do the four members of the Supreme Court appointed panel to interface with farmers stand on the Modi government's farm laws?
The searches are in connection with alleged violation of foreign direct investment norms that is linked to an earlier case of revocation of Foreign Contribution (Regulation) Act licence of the NGO by the Union home ministry in 2010, the ED said.
While you can always correct them, the sooner you do it the better it is for you, says Sanjay Kumar Singh
The World War I had been triggered by an assassination in then relatively unknown Serbia.
