Crisis-hit SpiceJet plans to hand out pink slips to at least 1,000 employees in the coming days as the airline works to significantly reduce costs and streamline operations of its depleted aircraft fleet, officials said on Monday. Faced with financial woes, legal battles and other headwinds, the no-frills carrier might ask more staff to leave as there is excess manpower now compared to the number of planes in service. A final decision on the quantum of layoffs is expected this week, one of the officials in the know said.
The government will come out with a White Paper on the mismanagement of economy prior to 2014 with an aim to draw lessons.
India's growth in the last three financial years has averaged just 1.9%. It is natural to project rapid growth from this low base. Crucial to that would be the assumption that the economy has suffered no lasting damage from the pandemic, observes T N Ninan.
The NSEL crisis has wiped out hundreds of crores of many investors.
The ninth episode of Koffee with Karan Season 8 sees Bollywood's Singham Ajay Devgn grace the couch along with Director Rohit Shetty.
Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months. The management has reaffirmed that growth would be in double digits over the coming two fiscal years. Growth is expected to be driven by a pickup in domestic infrastructure spending.
Questions will be raised over why those changes take place and whether non-economic factors are at play, says A K Bhattacharya.
You do get your money's worth simply watching these girls do what they are best at: Entertainment, feels Divya Nair.
RBI said aggregate demand during the year so far suggests that the shock to consumption is severe, and it will take quite some time to mend and regain the pre-COVID-19 momentum.
Date, a 1990 Indian Police Service officer of the Maharashtra cadre who once sold newspapers in Pune to financially support his family, was honoured with the President's Police medal for gallantry for his role in what has come to be known as the 26/11 attack.
Several mutual funds (MFs) have recently approached the Reserve Bank of India (RBI) as they renew efforts to increase their overseas investment limit. In June 2022, the capital markets regulator Securities and Exchange Board of India (Sebi) permitted MFs to invest in foreign stocks within the aggregate mandated limit of $7 billion after a correction in stocks. One of the proposals shared with the RBI is to link MFs' foreign investment limit to the country's foreign exchange reserves.
A banking crisis is a financial crisis that affects banking activity.
'This was earlier driven by industries and the commercial sector.'
AQuity Solutions is a leading tech-enabled clinical documentation, medical coding and revenue integrity solutions provider in the healthcare domain. On the other hand, IKS Health provides administrative, clinical and operational services to clinicians.
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.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
The high court also said that Kejriwal's absence cannot allow students to go through the first term without free text books, writing material and uniform in schools under the Municipal Corporation of Delhi.
Sitharaman said economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up.
The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
Once criticised as inhibitory, India's strict regulatory norms have protected local banks from the global financial tsunami.
This year, the combined net profit of 24 index companies, which have declared their June-20 numbers, has declined by 37 per cent year on year, while their revenues, including other income, is down by 21 per cent YoY so far.
Businesses invest in cycling teams for broad television exposure but with elite racing events cancelled or postponed due to the coronavirus outbreak, sponsors could trim their budgets. Cycling teams' sponsorship-based model could lead to their financial ruin as businesses struggle to deal with the economic impact of the COVID-19 pandemic.
"We welcome the important decisions made last night by the European Union which lay a critical foundation for a comprehensive solution to the Eurozone crisis," Obama said.
If that happens, India's economic size will be just shy of $20 trillion and its annual per capita income will be about $10,000, when the country celebrates its centenary of independence.
'We don't believe in the BJP. But the Congress has no main leader who is credible.'
Want a stress free vacation? Amar Pandit tells you what you need to keep in mind.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
In recent times, the multilateral lending agency extended financial aid to crisis-hit nations such as Greece and Romania.
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.
'We actually have a problem because there may be too much activity in India.' 'Markets don't like too much concentration. But we are very happy with our collaborations in India.'
In his address at the Reserve Bank of India's platinum jubilee celebrations in Mumbai, the prime minister said banks needed to provide instruments to Indian companies to help them manage their foreign currency risks.
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
'People trust India and Indians a lot more than they trust China and the Chinese.'
The law will check taxpayers' money from being used to pay for the financial mismanagement of institutions.
Prime Minister Manmohan Singh on Saturday asked European countries to take firm steps to fix the continent's financial mess, which was hitting India's economic growth and dampening global markets.
But Font believes Messi's love for Barcelona, who he joined aged 13, is so deep that he could lower his salary demands in order to stay.
The Delhi government will provide free ration for two months to 72 lakh ration card holders and financial assistance of Rs 5,000 to auto-rickshaw and taxi drivers in the city to help them tide over the Covid-19 crisis, Chief Minister Arvind Kejriwal said on Tuesday.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
The airline dropped fares to gain customer load, but failed to cover the cost of its flights
