The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
Refusing to link his seeking voluntary retirement, a year before his superannuation, to his transfer to the relatively low profile power ministry, he said that he had conveyed his decision to the Prime Minister's Office on July 18.
According to HSBC, India's current account deficit is expected to narrow from 1.1 per cent of GDP in 2014 to 0.6 per cent in 2015.
'They are waiting for the kind of experience they had in the film, the kind of emotion they felt in the film.'
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is. The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
The IMF expressed its opposition to any move that compromises the independence of central banks anywhere in the world.
Even as Union ministers allay misgivings over Agnipath, figures show a meagre 2.4 per cent of the ex-servicemen who applied for a government job could get one as the Centre and the states have been unable to recruit against the reserved quotas. Public sector undertakings (PSUs), ministries, and officials of Sainik Boards have blamed it on the lack of skill among ex-servicemen. They say veterans' inability to qualify in selection exams is one of reasons for this. Also, non-recognition of qualifications obtained from the military are reasons why their recruitment has remained significantly low, pushing them towards low-skill jobs.
Lewis Hamilton assured activists that he would not let human rights issues go unnoticed.
'Avoid going overweight on gold. But maintain a 10 per cent allocation via sovereign gold bonds,' Bajaj Capital MD Sanjiv Bajaj tells Sarbajeet K Sen.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
BRICS countries may reach consensus at next month's G20 summit on creating a $100 billion currency reserve fund to help ease short-term liquidity pressure and safeguard financial stability of major emerging economies, a senior Chinese central bank official said.
The PE biggie has committed to pumping money into Jio Platforms, Byju's and Reliance Retail so far this year - all marquee names in their respective sectors.
That is bad news for officials taking part in discussions at the International Monetary Fund and World Bank meetings this week.
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
Abhishek Bachchan's sneering expression is ill-quipped to convey the confidence of a wheeler-dealer. Those frequent bouts of muahaha make it worse. So much worse, says Sukanya Verma.
He lauded the government's 'minimum government and maximum governance' policy.
In two months, as many as 25 complaints have been sent to Enforcement Directorate, Competition Commission of India, Reserve Bank of India and income tax department, beside various state agencies, to thwart the deal.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
These are becoming one of the most in-demand commodities in the COVID world with malls, offices, banks, and shops lining up to install the structure at their entrances. The company swamped with these orders is a relatively new one, Chennai-based Nanolife, which has patented its Rajat Bhasma formula or the silver nanoparticles solution as a healthy disinfectant. Sceptics, however, say if a person is potentially exposed to the COVID-19 virus, spraying the external part of the body would not kill the microbe, which is inside the body.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
These women are building billion-dollar brands, calling the shots in the financial markets, and crisscrossing the globe to broker international agreements and provide aid, the magazine noted
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
The 94-year-old environmentalist known for his pioneering role in the Chipko movement was under treatment for COVID-19 at the hospital for over a week.
Entrepreneurs would be able to apply online for 26 services.
Congratulating Narendra Modi on becoming the Prime Minister, India Inc on Monday said it is looking forward to an era of renewed trust and expressed confidence that the nation will leapfrog into a higher orbit of growth creating more jobs, income and social stability.
PepsiCo CEO Indra Nooyi and ICICI Bank Managing Director Chanda Kochhar are among Fortune magazine's list of 50 most powerful women in business who are "taking on the world" by pushing into new territories and inspiring women in their home countries.
Formula One unveiled its longest and fastest street circuit on Thursday, predicting top speeds of 322kph and wheel-to-wheel racing when Saudi Arabia hosts a race for the first time in Jeddah in December.
'Modi and Obama both had agendas that went beyond the nuclear deal. The threat from the chilly Himalayas had to be tackled in the warm waters of the Indian Ocean.'
Those scheduled to attend the five-day WEF Annual meeting, beginning January 21, include more than 40 heads of state or government, including those from the UK, Australia, Japan, Iran, Israel, Pakistan, Brazil, Italy, Mauritius, Republic of Korea and Switzerland, WEF announced on Wednesday at a press conference in Geneva.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Modi's visit to some developed countries such as the US, Japan, China and Australia were sprinkled with humongous investment figures. But do we have the wherewithal to absorb such big investments?
'Your faith in the system, and in the fact that you are a citizen of this country and have rights, starts eroding.'
83% of the CEOS plan to hire more in the new year.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
While the most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips, a PwC report says implementation of a pan-India electronic toll collection system on national highways may help save approximately Rs 87,000 crore annually.
In the past four months, $7.5 billion has flowed back into domestic stocks, helping the benchmark indices bounce back more than 40 per cent from their 2020 lows.
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