Modi assured US investors that in the next six months, he would implement all the things necessary for ease of business in the country.
'Dharti par jo Rab hota hai, woh hai pitaah (There's a God on earth, and it's a Father).'
Sources say given the complexity involved in the process of creating a holding company, which will ultimately be the parent company of banking and other businesses, banks are going slow in acquiring stakes in insurance arms or mutual funds of other lenders.
Modi thanked his Australian counterpart for supporting him in unveiling the foundation stone of 'Little India', a suburb of Sydney.
A top-class board is important from a systemic point of view, more so at a time when the wider financial world and India Inc is chasing the same talent as banks.
Barclays is not alone in trying to decide the best size and shape of its investment bank in a changed regulatory landscape.
'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.'
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.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
Meanwhile, family businesses in India still see banks as their chief source of funding as nine out of 10 respondents were upbeat about bank financing.
The airlines' losses globally are expected to be down from $52 billion in 2021 to $9.7 billion this year and industry-wide profit should be on the horizon in 2023, Director General of IATA Willie Walsh said in Doha on Monday. International Air Transport Association (IATA) represents some 290 airlines comprising 83 per cent of global air traffic. Walsh, in his inaugural speech at the 78th annual general meeting of IATA here, said that while the outlook for airlines globally is positive, the business environment remains challenging.
Balgopal Athavale was startled that the day after his new business was registered, he was flooded with offers from various service providers. 'How did they know what only my wife and I knew?' he asks.
After disappointing guidances in the first quarter (Apr-Jun) of the 2023-24 financial year (Q1FY24) and valuation downgrades, the Indian IT sector could see some positive repricing as the bad news for IT maybe easing in Q2FY24. A key negative factor was weaker demand from the US financial sector and from North America in general. The latest GDP (gross domestic product) estimates and sector-specific news suggest that the demand situation may not be quite so bad with a gradual recovery in tech spending in Q2.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
India has been relatively insulated from the severe headwinds in the West. However, with a third of the global economy expected to slip into recession in calendar year 2023, the impact will strongly be felt on India's exports and trade economy, leading economists said in a panel discussion at the Business Standard BFSI Insight Summit in Mumbai on Wednesday. The panel comprised former Reserve Bank of India executive director and former Monetary Policy Committee member Mridul Saggar, State Bank of India Chief Economic Advisor Soumya Kanti Ghosh, Citibank India Chief Economist Samiran Chakraborty, ICRA Chief Economist Aditi Nayar, and IndusInd Bank Chief Economist Gaurav Kapoor. The topic of the panel discussion was No recession in sight: Is India decoupled from developed economies?
'It will dictate the flow of funds into the index. We will maintain caution on mid/smallcaps.'
WhatsApp says business profiles verified by it will carry a green badge, similar to how parent Facebook verifies businesses with a blue tick.
'With nearly double the market share of our nearest competitor, we are shaping the digital transformation journey of close to 1,000 clients in India.'
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.
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
Companies don't have to be in the field to nudge people to return money they owe lenders.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
Modi said it is an outcome of India's consistent reforms trajectory that the country's position is getting credence globally and is being recognised by international bodies like the IMF, World Economic Forum and UNCTAD.
Billionaire Gautam Adani's Group on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in India for a deal value of $3.5 billion (approximately Rs 25,500 crore), to become the world's largest solar company. In a statement, Adani Green Energy Ltd, the renewable energy unit of the port-to-energy conglomerate, said it has inked share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. Without giving deal details, the statement said the transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated. The transaction marks the largest acquisition in the renewable energy sector in India.
'Their dharma propels them to pay their workers; otherwise, they know the boys would starve.' 'At the same time they will not allow their business to suffer,' observes Dr Sudhir Bisht.
According to the publication, in July, McGraw-Hill Cos, owner of BusinessWeek, said it was putting the magazine on the block. Since then, McGraw-Hill and its investment bank, Evercore Partners Inc, have had discussions with several parties.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
'The India which was all about glamour and razzmatazz through which he could earn the trust of people of the other India, which was Bharat.'
IndusInd Bank was the top laggard in the Sensex pack, cracking around 10 per cent, followed by HDFC, Maruti Suzuki, Axis Bank and UltraTech Cement. On the other hand, TCS, Infosys, ITC and HCL Tech closed with gains. NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.
In a state that usually plumbs for a Dravidian major, three candidates have a chance of delivering for the BJP, observes A Ganesh Nadar.
'It will send a very strong signal that it is now our time to grow.'
The Reserve Bank of india is likely to tell state-run United Bank of India (UBI), which has seen erosion of capital due to bad loans and higher provisioning to implement prompt corrective action.
'We do not see people getting reduced, but because of automation, we will do more work.'
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
It is time to shrug off the ideological shackles about the way we work, play and live, says Ajit Balakrishnan.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
