Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
'Laws have been used in a way to serve the needs of the current regime and its authoritarian ideology.'
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
To increase fund flow in the bond market, market regulator Sebi on Wednesday issued guidelines allowing overseas individual investors to invest up to $1 billion in corporate bonds and debt schemes of mutual funds without any lock-in period.
The markets regulator, Securities and Exchange Board of India (Sebi), recently introduced fresh guidelines to determine the place of a mutual fund (MF) on its riskometer tool.
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
The Street is never short of hope and events to look forward to
The Congress alleged that whenever an issue of national security comes up, the "prime minister hides behind his ministers".
The finance ministry has proposed to decriminalise a host of minor offences, including those relating to cheque bounce and repayment of loans, in as many as 19 legislations to help businesses tide over the crisis caused by the coronavirus outbreak. The 19 legislations include Negotiable Instruments Act (cheque bounce), SARFAESI Act (repayment of bank loans), LIC Act, PFRDA Act, RBI Act, NHB Act, Banking Regulation Act and Chit Funds Act.
FDI in the defence sector during 2000-2014 has been a meagre $4.94 billion, despite the total FDI flow into the country across sectors standing at $321.81 billion.
US Secretary of State Antony Blinken, in the 2020 Country Reports on Terrorism issued on Thursday, said that regionally, terrorist groups continued to operate from Pakistan.
"We are concerned about the data localisation law and the new e-commerce regulations...they do not fully take into account the needs of all stakeholders, including American and other foreign companies," acting principal deputy assistant secretary of the US, Thomas Vajda said.
In a move that would help boost flow of overseas funds into Indian capital markets, regulator Sebi allowed FIIs to offer government securities and corporate bonds as collaterals for their cash and derivative transactions on the stock exchanges.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
Expressing his satisfaction over the government's move to slash fiscal deficit target, Das said it will help improve investment by the private sector as crowding out impact will be less.
Licence of NGO run by Indira Jaising--'Lawyers' Collective'--was suspended by the government for 6 months.
The expected interest rate hike in the US and the resultant volatility in the domestic secondary market could play a dampener to the over Rs 2-trillion initial public offering (IPO) pipeline in 2022. IPOs in 2022 look promising, with as many as 35 companies holding the Securities and Exchange Board of India's approval to raise roughly Rs 50,000 crore. Another 33 companies are waiting for the regulator's nod to raise around Rs 60,000 crore next year.
The sudden exit of Yogesh Agarwal as the chairman of the Pension Fund Regulatory and Development Authority, or PFRDA, has once again brought the relationship between financial sector regulators and the finance ministry into sharp focus.
The first phase of the programme will kick off with vaccinations in Hyderabad on Monday and in Visakhapatnam on Tuesday (May 18) at Apollo facilities.
The scrutiny is expected to be over this month itself.
If the fear of ED could drive the powerful people of today to be honest or at least be minimally corrupt, will it not be a great thing for our nation?, asks Sudhir Bisht.
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
'Google and Facebook need to be tamed, their garb of 'Investing in India's future' need to be pulled off,' observes Vibhu Arya.
The quantum of FPI investments via P-notes remain unchanged at 6.6 per cent in March.
In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
The Securities and Exchange Board of India plans to tighten the rules for transfer of sub-accounts by foreign institutional investors.
With most Adani Group shares locked in lower-circuit in early morning trade based on news that accounts of three foreign portfolio investors, heavily invested into group companies, were frozen by the National Security Depository Limited, market experts advise caution that investors should not jump in now to buy at lower levels.
'Two esteemed foreign investors with huge funds are coming with us in our real estate and city development businesses.'
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
Economic Affairs Secretary R Gopalan, who retains charge of financial services, has shown an ability to grasp ground realities in pushing critical reforms.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
A host of dynamic reforms, policies and announcements during the last five years are expected to reach its logical fruition in the second term, says Ankit Kansal.
Sun Pharma emerged as the star performer and closed 4.03 per cent up at Rs 675.45, while Cipla rallied 1.58 per cent to Rs 592.60.
The Indian market regulator had revamped the FPI regulations in 2014 giving custodians the mandate to collect and verify the KYC documentation of offshore investors
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
Underscoring the need to boost the start-up ecosystem, the Reserve Bank on Tuesday said it will simplify rules and regulations which impede their growth and ensure that an entrepreneur does not have to run from "pillar to post" to start a business.
