NBFCs with a proven track record, supported by the brand values of reputed corporate, can play a key role in bringing the benefits of banking and economy to the underserved and newer segments of India.
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
Young, city-bred, successful, enthusiastic Indians are ditching their cars and cycling to work.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
Bank claims it wasn't quizzed by CBI, only financial information was sought.
The reforms will help FPOs procure directly from farmers, something that they have been pressing for long.
The loss of income has severely dented the loan repayment ability of small borrowers
Well-known US activist investor Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale. Hindenburg, a US-based investment research firm that specialises in activist short-selling, said its two-year investigation reveals that "the Rs 17.8 trillion ($218 billion) Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades." The report comes ahead of a Rs 20,000 crore follow-on share sale of Adani Group's flagship Adani Enterprises.
Maharashtra, the country's largest cane and sugar producer after Uttar Pradesh, had, over the past few years, weathered adverse market dynamics brought about by a domestic and global sugar glut, mounting arrears and muted exports.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
Prime Minister Narendra Modi on Thursday inaugurated and laid foundation stones of development projects worth more than Rs 38,000 crore in different sectors in Mumbai, giving a big push to infrastructure, urban travel and healthcare ahead of civic polls in the city in which the Bharatiya Janata Party and the Eknath Shinde-led Shiv Sena faction will seek to showcase these ventures to take on their political rivals.
Read this and rest assured you can be on your own against venture capitalists and angel investors
'The digital trust level has drastically gone up due to Covid, not only in tier-I and II cities, but also in tier-III, IV and V geographies,'
Its economy dependent on tourist arrivals, the hill state is looking at a summer of discontent. Not that the rest of the year promises to be any different. Ashwani Sharma reports from Shimla.
The Governor said the MPC had voted to maintain its accommodative stance, implying more rate cuts in the future if the need arises.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
Former Congress president Rahul Gandhi on Sunday accused Prime Minister Narendra Modi and the Bharatiya Janata Party of weakening the country by spreading fear and hatred, and said only the Congress can unite the country and take it to the path of progress.
Bajaj Finance was the biggest loser in the Sensex pack, tanking up to 8 per cent, followed by Hero MotoCorp, IndusInd Bank, Maruti and HCL Tech. Axis Bank, ITC, NTPC and M&M were among the top gainers.
'By the time the goods that were sent from December onwards reached stores in Europe, they became dead inventory as the stores there were closed by then.' 'Those that were in the warehouse there also became dead inventory. Those that reached the ports there also became dead inventory.' 'And what Tirupur produced in March is still here, and they have also become dead inventory.'
Without periodic booster shots to display of strength, how is this government what it aims to be? There was also the landscape of prosperity pictured; the in-season affair with 'amrit' stretched to a longer residence in 'Amrit Kaal', notes Shyam G Menon.
'To set up a successful business, one must have a solution to an existing problem or a better way of addressing the current solution.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
The middle class is a big force to fulfil dreams of a prosperous and developed India and our government has taken many decisions to empower it, the prime minister said.
The RBI working group's proposal to allow corporate houses to set up banks is a 'good-looking' step in a 'bad direction' and may lead to crony capitalism and eventual financial instability, former chief economist of World Bank Kaushik Basu said on Thursday. Basu further said that there is a good reason why all successful economies have a clear dividing line between industries and corporations on the one hand, and banks and lending organisations on the other.
A well-run non-banking company has better margins than a bank, but the objective of setting up Ujjivan was to provide comprehensive financial inclusion, Ujjivan Small Finance Bank MD & CEO Samit Ghosh tells Anup Roy in an interview.
In 2018, venture debt providers cumulatively deployed Rs 1,300 crore. This year, the market is expected to absorb venture debt of Rs 1,800 crore to Rs 2,000 crore. So what makes this asset class so attractive?
In 2019-20, the capital expenditure of Indian Railways (IR) increased 60 per cent over 2016-17. The draft National Railways plan envisages a further increase in IR's capital expenditure, but an analysis by Business Standard shows that IR has come to depend more on borrowings and budgetary support. In 2016-17, while 11 per cent of its capital expenditure (capex) was funded by internal sources, in 2019-20 the ratio dropped to less than 1 per cent. A 2015 Committee on Restructuring Railways had flagged that over-reliance on borrowings could exacerbate the financial situation of Railways.
De Beers, the world's premier source for rough diamonds, has painted an attractive picture for jewellery demand.
'There are a lot of companies that have been struggling really hard expecting to do better year after year.' 'All these people will think now, "Let me not fight any more. Let me end this".'
Check out some of the stocks that will react on the basis of their numbers in the near term.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
Reliance Retail would be exposed to implementation and execution risks in its expansion plans.
