Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal. "All of us at Reliance and Jio are delighted to welcome Facebook Inc," he said in a short video message posted on the group's social media handles.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
Sudipto Dey discusses the changing nature of jobs with Paul Dupuis, who recently took charge as India head of HR services major Randstad.
Sudipto Dey discusses the changing nature of jobs with Paul Dupuis, who recently took charge as India head of HR services major Randstad.
"The budget adopts following seven priorities -- inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector," she said.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
The Centre on Sunday said there are no plans to levy charges for making payments through Unified Payments Interface (UPI) while saying the service is a "digital public good with immense convenience". The ministry of finance said the concerns of service providers for cost recovery have to be met through other means. "UPI is a digital public good with immense convenience for the public & productivity gains for the economy.
Modi said that for nearly one and a half years he has been putting in place details of new schemes to give new pace to the country's development and curb poverty.
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
RBI Governor Shaktikanta Das on Friday said the government and the central bank are in discussion with South Asian countries to have cross-border trade in rupee. He also said the central bank digital currency (CBDC) is in trial phase and the RBI is moving very carefully and cautiously on digital rupee launch. After the successful launch of the wholesale pilot, the Reserve Bank of India (RBI) on December 1, last year, began its retail CBDC pilot project.
Trends that added colour to workplace culture in 2022.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
A report prepared by World Bank in coordination with Chinese experts said China has reached a 'turning point' in development but it could still emerge as the world's largest economy before 2030 if it carried structural reforms.
The banking sector emerged as an outlier when the rest of India Inc witnessed a slowdown in earnings in FY23. The combined net profit of listed public and private sector banks was up 39.4 per cent year-on-year (YoY) last financial year and their share in India's gross value added (GVA) or gross domestic product (GDP) at factor cost rose to a record high of nearly 1 per cent up, from 0.8 per cent a year ago. Listed banks' combined net profit grew to Rs 2.36 trillion in FY23, from Rs 1.69 trillion a year ago. In comparison, India GVA at current prices was up 15.2 per cent YoY at Rs 247 trillion in FY23; it was around Rs 214 trillion a year ago.
India's information technology sector is likely to post a single-digit growth rate of 9 per cent in fiscal 2008-09, as measured in gross domestic product calculations, according to a senior government official. The IT sector, which constitutes 3.5-4 per cent of India's GDP, grew at an average rate of around 25 per cent in three years up to March 2008. Thus, the sharp fall in growth rate is cited as one reason for drop in growth rate of the Indian economy in fiscal 2009.
The push to connect India and drive a national fibre optic network, first approved by the last government in 2011, has made slow progress
The share of foreign companies in private sector investments, directed towards building new factories and other facilities, has declined over the past six months. A mix of large domestic announcements and relatively lower growth in foreign capital expenditure (capex) plans have played a role, although foreign investments remain near record levels. The share of foreign companies in the overall private sector investments over the four quarters ended June 2023 has dipped to 14.9 per cent, as shown by a Business Standard analysis of data from the project tracker Centre for Monitoring Indian Economy.
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
The Rajya Sabha on Tuesday gave its green light to the Multi-State Cooperative Societies (Amendment) Bill 2023. This Bill introduces significant amendments to the Multi-State Cooperative Societies (MSCS) Act. These modifications aim to enhance the transparency and accountability of these cooperatives' operations in a bid to improve governance.
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.
'They (the ransomware attackers) are not after any VVIP data.' 'Had that been the case, they would have quietly installed a different malware.'
'China is in a good position to defuse financial risks.'
'If India can only grow at 5%, why bother spending time on the country?' asks Akash Prakash.
The Supreme Court in a 4:1 majority verdict upheld the government's 2016 decision to demonetise Rs 1,000 and Rs 500 denomination notes, saying the decision-making process was not flawed.
N Chandrasekaran, chairman of Tata Consultancy Services (TCS) and Tata Sons, believes that the Digital India Act is a necessity. "The Digital India Act is a necessity because so much has changed over the decades since the original Information Technology (IT) Act was put in place. I am glad the government is developing a participative approach to developing the Digital Act," he said, while answering shareholders at TCS' 27th annual general meeting. Minister of State for Electronics and IT Rajeev Chandrasekhar a few months ago had said that the government would shortly roll out the Digital India Act - a renewed policy for the digital ecosystem and cyberspace in the country.
On November 8, 2016, Prime Minister Modi had announced the decision to withdraw Rs 500 and Rs 1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy.
If the economy gains momentum, that is a big positive for markets, given the strong macro of low inflation, falling rates, and a stable rupee, says Akash Prakash.
'In India those who want change cannot bring about change, and those who can bring about change do not want change.'
There has been an increase of $17 trillion in total debt in China.
Technology infrastructure solves many problems, but it cannot build roads or bridges and provide clean water. However, such activities are essential for human progress, and their creation provides jobs, says R Gopalakrishnan.
Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
'Instead of doing reforms and restructuring, the present government is busy with the perception that everything is fine and the economy is hunky-dory.' 'Such hollow perceptions are very dangerous for the Indian economy in the long run.' 'The real risk to India is the lack of decent employment opportunities for youth in general and educated youth in particular.'
At the heart of the issue is the way e-commerce is defined in the current draft policy.
Shares of Infosys hit a five-month low of Rs 1,419.60, down 1 per cent on the BSE in Tuesday's intra-day trade. The stock was quoting at its lowest level since October 10, 2022. In past two days, the stock of information technology (IT) bellwether was down 4 per cent after the company on Saturday informed to the stock exchanges that Mohit Joshi, president of the company has resigned effective March 11, 2023. Mohit Joshi will be on leave thereafter and his last date for the company would be June 9, 2023, Infosys said in an exchange filing.
Chinese leaders may well respond to challenges with heightened rhetoric.
India's economy is projected to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the globe has faced, the Economic Survey 2022-23 said on Tuesday. India's gross domestic product (GDP) growth of 6.5 per cent in 2023-24 compares with an estimated 7 per cent expansion in current fiscal year (April 2022 to March 2023) and 8.7 per cent in the previous year. Like the rest of the world, India too faced an extraordinary set of challenges in tightening financial conditions and supply chain disruptions from a prolonged war in Europe but "withstood them better than most economies", the annual document detailing the state of the economy said.
Over the past four quarters, the Sensex companies' earnings trajectory has improved sharply because of a weak rupee.
