'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
The S&P BSE Realty Index has emerged as one of the top-performing sectors, yielding a remarkable 45 per cent return over the past six months. The three leading players, listed by market capitalisation, have substantially enriched investor wealth by 43-70 per cent during this period. If the second quarter (Q2) of 2023-24 (FY24) updates from Macrotech Developers (Lodha) and Sobha, along with industry data for the quarter, serve as any indication, the trend of strong bookings for larger players is expected to continue.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
A provisional order under the Prevention of Money Laundering Act has been issued by the federal probe agency as part of which a total of 33 bank accounts of the two organisations have been attached.
The Narcotics Control Bureau on Tuesday claimed to have busted the "biggest" darknet-based LSD cartel operating in India with the seizure of more than 13,000 blots and Rs 26 lakh in cash and the arrest of three persons.
Enforcement Directorate officials who recovered over Rs 17 crore from the residence of a businessman in Kolkata, found 10 trunks on the spot.
'If the current mood in North Block, headquarters of the finance ministry, is anything to go by, the government will now keep a closer watch on all kinds of schemes and projects undertaken by different central ministries. 'The next six months will determine which central schemes will have to be wound up and which ones will survive the axe,' says A K Bhattacharya.
Though this is the second charge-sheet filed by the CBI in the case before a special court here, it is the first time that Tejashwi Yadav has been named as an accused.
The endless wait to get valid currency notes was also taking a toll on people waiting for hours in long queues as there were reports of many elderly people collapsing out of fatigue.
At a hurriedly convened press conference, the former Uttar Pradesh said, "All deposits are as per norms and party rules and the money was collected before note ban. Should we have thrown it?"
The liquidity in the banking system could ease in the coming week due to an increase in government spending - a development that would be the key for the Reserve Bank of India (RBI) to decide whether to extend the incremental cash reserve ratio (I-CRR) mandate for banks. There are signs of improvement in the liquidity scenario as banks parked Rs 25, 833 crore with the RBI on Thursday. Market participants expect liquidity to gradually improve by the end of the month or during the first week of September, aided by government spending.
'These frequent visits show the BJP fears that the Congress will retain power.'
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
Sukanya Verma recaps everything we learned this year in showbiz.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
The Supreme Court on Thursday directed the Election Commission of India (ECI) to produce before it in sealed cover the "up to date" data of funds received by political parties through electoral bonds till September 30, 2023.
Check out which monuments make the most money for the government.
Neeraj Chopra, who won India's maiden athletic Gold on his Olympic debut, was awarded a cash prize of Rs 1 Crore by the BCCI
The Indian Junior Women's Hockey Team emerged Champions of the Women's Junior Asia Cup 2023 held in Kakamigahara.
Ultimately, the choice between no-cost EMI and BNPL depends on an individual's financial situation, preferences, and ability to manage repayments responsibly.
The EOW conducted searches at the house of PC Singh, the bishop of the Church of North India Jabalpur Diocese, on Thursday morning following registration of a case of cheating against him.
The pharmacy, identified by the federal anti-narcotics agency as JR Infinity Pvt Ltd, was located at Domalguda in Telangana's capital city.
With Shah Rukh Khan's Pathaan getting the cash registers ringing and our favourite ladies keeping the fashion quotient high, January has definitely set the best tone for the new year.
The agency also alleged that Deshmukh exercised undue influence to pass favourable transfers and postings of the police officials.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Analysts say that PMC Bank case is only going to make matters worse for HDIL and the Wadhawans.
Companies that do not know why they are doing good also do not know why they are failing when they are on a downward slide, notes Baqar Iftikhar Naqvi, founder and CEO, Upriver, a sales accelerator firm.
A senior IDBI Bank official allegedly conspired with businessman Vijay Mallya for sanction and disbursement of loan to the latter's Kingfisher Airlines, the Central Bureau of Investigation said in its supplementary chargesheet filed in a Mumbai court. Mallya is an accused in the alleged Rs 900-crore IDBI Bank-Kingfisher Airlines loan fraud case, which is being probed by the CBI. The Central agency had recently filed a supplementary chargesheet before a special CBI court.
Constituencies that are going to the polls in the first phase, slated for April 19, have just 19 days for campaigning. Contrast that with those going to polls in the 7th phase, notes N Sathiya Moorthy.
A well-established tax system would have a predictable buoyancy - how fast the collections grow as a proportion to the growth of the economy. But that is not the case with GST. It is still undergoing substantial changes as the government responds to structural as well as administrative glitches.
Garbage will be collected from 12 stations, including Amritsar, Ambala, Haridwar, Jammu, Katra, Dehradun, Moradabad, Saharanpur, Chhatrapati Shivaji Terminus, Mumbai Central and Dadar
Cash, weapons, bullet-proof jackets and commando dresses were on Sunday found even as lockers were opened at arrested godman Rampal's Satlok Ashram, where he was taken by the police for the first time since his arrest on November 19.
The Rajasthan police has arrested two of the eight accused wanted in the alleged abduction and murder of two Muslim men from Bharatpur in Rajasthan by suspected cow vigilantes in Haryana, an official said on Friday.
Teary-eyed Congress leader D K Shivakumar on Saturday briefly belied the combative force he is for the Congress party, not just in the just concluded 2023 assembly polls, but on several crucial occasions in the past when his party needed him.
The persons nabbed have been identified as Perwez Ahmed, Mohd Ilias and Abdul Muqeet (arrested from Delhi) and Shafeeque Payeth who was taken into custody by the ED from Kerala.
Irrigation woes have contributed to the problem of stubble burning in the state, reports Sarthak Choudhury.
Surplus liquidity in the banking system as measured by absorption of excess funds by the Reserve Bank of India (RBI) fell sharply at the end of the last week due to outflows on account of advance tax payments. According to the RBI data, the net liquidity absorbed by the central bank on September 16 was at Rs 3,243.57 crore, much lower than the average of Rs 56,809.92 crore in the preceding four days of the week. The average absorption of funds by the RBI so far in September is at Rs 1.13 trillion, against the average of Rs 1.2 trillion in the previous month, the data showed.
Capital markets regulator Sebi has tweaked peak margin rules which will bring huge relief to traders and brokerage houses that have been incurring high margin penalties so far, experts said on Wednesday. Under the new framework, the beginning of the day margin will be considered as peak margin. This is only in respect of the collection of upfront margin. The peak margin rule that was implemented last year restricted brokers' ability to fund clients' intraday positions.
Two-wheeler market leader Hero MotoCorp has denied the report of the IT Department finding Rs 1,000 crore false expense claims, saying it is speculative. The company said officials from the Income Tax department visited its offices in the previous week, and it has provided all support and cooperation, necessary documents and data to the authorities and will continue to do so if required. "The allegations made in the press report are not borne out of any documents that have been served on us or our internal documents.
