Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
This is an increase of $1.1 billion over the previous year, the World Bank said on Thursday, adding that it invested $6.6 billion in 89 projects to promote economic growth, fight poverty and assist private businesses. This includes nearly $2 billion in infrastructure financing, a critical sector to provide the foundation for rapid recovery from the crisis and job creation.
'Today, three areas give banks a big headache -- steel, power, infrastructure.' 'Three Cs are very critical in lending -- character, capacity and collateral of the borrower.'
Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
Hours after World Bank made public that Wipro has been debarred from doing any business with the global lender, the company's chairman Azim Premji wrote to its over 1,00,000 employees saying that the company had not done anything unethical.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Edelweiss ARC, in a statement, denied that any undue pressure was brought to bear on Desai for loan recovery.
Indian equity markets have a limited upside potential in the near-term as they negotiate the ensuing cyclical slowdown, wrote analysts at Nomura in a recent coauthored report led by Saion Mukherjee, their managing director and head of equity research for India. He, however, believes that the foundations are in place for sustainable growth over the medium-to-long term, and hence suggests a 'buy on dips' strategy to equity investors. As an investment strategy, Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort. Industrials and banks are their overweight sectors, while IT services and consumer discretionary are their underweight sectors.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Modi wants the BJP to gets an additional 10% of the vote share from what it won in 2019. Plans are afoot to get new faces to replace MPs with poor chances of winning. Sources say more than 100 MPs are like to be axed, notes Modi biographer Ramesh Menon.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
News, as a business, faces its biggest crisis ever, globally. To fight it needs investment in feet-on-the-ground journalism, tech tools like artificial intelligence among other things.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The Rs 100 crore infusion will well-capitalise the company to drive its new strategy and growth plans.
What will be the impact on the Euro itself? Will it devalue and to what extent?
Addressing a session at the Future Investment Initiative 2019 here, Modi said India offers a huge investment opportunity in the infrastructure sector also as he emphasised that the country aims to be a $ 5 trillion economy in the next five years.
Critical of India's "poor" ranking in terms of investment climate, World Bank on Monday said the economy could grow by 2 per cent if it improves infrastructure, business regulations, labour and land laws.
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
Another important early decision of Birla was to get into the wireless telephony business in association with AT&T and another revered Indian business house, the Tatas.
Three Indians PepsiCo chief Indra Nooyi, ICICI Bank's CEO Chanda Kocchar and Kiran Mazumdar Shaw of Biocon -- have been listed in 'The World's 100 Most Powerful Women' list by Forbes magazine.
Darjeeling is on the boil over the demand for a separate Gorkhaland state. June and July are bad months to have a strike. Tea picking during its most valuable season has been affected. Those consequences will be felt all over the world and ultimately damage Darjeeling tea.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
FM has asked brokers to exercise self-regulation for capital markets and also advised them to corporatise. He has commissioned a World Bank study to suggest an effective model for India.
'While foreign institutional investor flows are still negative, they will turn positive in the latter part of 2023 as India's resilient growth becomes perceptible.'
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Russian fertiliser group Uralkali said that by turning down its higher bid for the company, the administrators had denied the extra funds that would have accrued to the shareholder of Force India - Mallya's Orange India Holdings Sarl - which is subject to a freezing order issued by the UK's High Court in favour of his 13 creditor Indian banks, led by the State Bank of India.
The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies of the country concurred at the Business Standard BFSI Insight Summit 2022.
The Fortune's 40 under 40 list for this year was topped by Adam Neuman, Co-founder and CEO, WeWork.
Microsoft has become the first global Big Tech company to join the Open Network for Digital Commerce (ONDC), an Indian government initiative for developing a first-of-its-kind open network for digital commerce. The world's second-largest technology firm intends to introduce social e-commerce via its app in the Indian market later this year. ONDC is expected to open to the public in Bengaluru over the next fortnight as it enters into the next phase of the pilot for further fine-tuning before rollouts in other cities, according to a source in the know.
This is the first time the fight is between mother and son. Both sides don't look in the mood to relent: Advisors and spin doctors have been hired, lawyers have been consulted.
World Gold Council estimates that central banks will have purchased 500 tonnes of gold in 2012.
With a new $100-billion technology fund, SoftBank is likely to go after market leaders.
'It has also saved the government about $ 9 billion in fraud and wastage because by having that unique number you eliminate fakes and duplicates from your beneficiary and employee list,' Nilekani said at an event on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.
"Satyam is a specific instance and the the industry's health is good, which is growing at more than 20 per cent. . .World Bank is not a technology issue at all. Its not that there was anything wrong with the technology," IT secretary Jainder Singh told reporters on the sidelines of a CDAC event in New Delhi. Talking about the extension of the Software Technology Parks of India scheme, Singh said that he was hopeful of the move.
The RBI expects the assessment to show if the systemic failure was only in PNB or in the overall banking universe
