The Congress on Thursday accused the Modi government of aiding 'drain of wealth' from ordinary Indians to crony corporates, and said it will end this practice if it comes to power at the Centre.
Mukesh Ambani is stringing in new partnerships within the Reliance ecosystem with the best in global business -- from Facebook, Google and Microsoft to umpteen sovereign wealth funds and a soon-to-be-declared strategic partner in a big global retailer, notes Shailesh Dobhal.
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
These sweeping financial sanctions follow the action earlier this week to cut off Russia's frozen funds in the United States to make debt payments.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
While other states are becoming competitive, Gujarat, say experts is not paying enough attention to maintaining its own position in terms of business reforms.
Jamshyd Naoroji Godrej and his sister Smita Crishna Godrej-controlled Godrej & Boyce will hold the exclusive construction rights over a vast land bank, including a prime 3,000 acre-property in Mumbai, they got as part of the family agreement that split the Godrej empire, as per sources and regulatory filing. According to the agreement reached late Tuesday, the 127-year-oldgets to keep what group will be split into two entities - one led by Adi Godrej and his brother Nadir and the other by their cousins Jamshyd and Smita.
PS banks need to pull up their socks to improve cash flows.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
'While Indian markets are indeed not inexpensive, the valuations of largecap stocks are still a considerable distance from being overstretched.'
This period of strong growth not only offers opportunities but also calls for strategic considerations to ensure sustainable development and equitable prosperity in the years to come, suggests Sujan Hajra.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
'Dharti par jo Rab hota hai, woh hai pitaah (There's a God on earth, and it's a Father).'
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
India-born PepsiCo chief Indra Nooyi figures among the top10 in 2013.
'The policy focus of the government should have been on creating more good quality jobs but that was not their focus.'
All three agreed to have the proceedings heard in English and each of them nodded that they understood the charges of first-degree murder and conspiring to murder Nijjar, the report said.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
'People trust India and Indians a lot more than they trust China and the Chinese.'
WhatsApp on Wednesday announced the expansion of its payments service in India to make it easier for people transacting with businesses to pay for purchases directly in the chat, with a choice of UPI apps, including rival digital payment options, as well as credit and debit cards. Meta founder and CEO Mark Zuckerberg asserted that India is leading the world in people and businesses embracing messaging. WhatsApp said it is working with partners Razorpay and PayU "to make paying for something as simple as sending a message", as the Meta-owned platform unveiled a host of new features to woo businesses in India's booming commerce market.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
The ease of doing business has not picked up in a vast number of states and Union Territories.
Puri gave up the comforts of Citibank to set up a new-age bank from a rat-infested room in the Kamala Mills Compound in Worli, Mumbai and build a marquee brand. A look at his 26-year stint as HDFC Bank's boss.
The bank introduces project 'Khoj' to re-hire 3,000 ex-workers over 18 months.
'The main worry is lots of new investors coming into the markets in order to make a quick buck/easy money.' 'Those things are happening again and have happened in the past as well.' 'All that has led to problems.' 'We are not there yet, but will get there eventually.'
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
Gujarat has topped with a score of 71.14% on ease of doing business list.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
The 2015 World Bank group's Doing Business index ranked India at 142, down from 140, which it was the year before.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
At interactions last week with senior officials from the Reserve Bank of India, select banks gave feedback on two key bond market concerns, namely, recent volatility in the rupee-dollar exchange rate and heavy losses incurred on floating rate government bonds due to a demand-supply mismatch, sources told Business Standard. The discussions were held ahead of the RBI's next monetary policy statement, scheduled on August 5. Indian banks are large holders of government securities because of a regulatory mandate to set aside a certain percentage of deposits in sovereign bonds.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
India's exports contracted by 22 per cent, the steepest decline in the last three years, to $32.97 billion in June on account of global demand slowdown, especially in the Western markets like the US and Europe. According to the data of the commerce ministry, the trade deficit in June stood at $20.3 billion against $22.07 billion in the same month last year due to a fall in exports and imports. The inbound shipments during the month under review declined by a steep 17.48 per cent to $53.10 billion.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
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