India's largest private equity fund management company IL&FS Investment Managers Ltd said on Tuesday it will invest $100 million in QVC Realty making it the first venture capital-backed real estate start-up in the country.
Standard Chartered and IL&FS Investment Managers are close to signing an agreement to raise a $1 billion India-focused infrastructure private equity fund.
China will always try to set the agenda for negotiations and tries through such means to determine the direction of talks, and to avoid discussing subjects that may paint it into a corner or compel the Chinese negotiator to disclose their position prematurely.
Following is India's schedule at the Asian Games in Hangzhou, on Friday, October 7.
The project called 'DLF MetroRail, Gurgaon' has been bagged on concession by the consortium for a period of 99 years to build and operate the metro system. The consortium, where DLF would have a 26 per cent stake while IL&FS would hold the rest, would invest invest Rs 900 crore (Rs 9 billion) in developing the project.
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
The last meeting of the 2+2 was held in New Delhi and the next meeting is to be hosted by the US in Washington, DC.
Rajasthan is all set to vote on Saturday to elect members of a new assembly with the Bharatiya Janata Party aiming to unseat the ruling Congress, which is fighting hard to change the trend of alternate governments in the state.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
Banks are gaining market share at the expense of non-bank lenders such as housing finance companies, retail lenders, and those giving gold loans. There has been a steady decline in the market share of non-banking financial companies (NBFCs) in the credit market as banks have stepped up lending. NBFCs' share declined to a five-year low of 19.8 per cent in the first half of FY23, down from 20.3 per cent in H1FY22, and an all-time high of 23.1 per cent in H1FY19.
India has received over USD 20 billion in FDI amid the coronavirus pandemic, Foreign Secretary Harsh Vardhan Shringla said on Tuesday, showcasing the country as one of the most attractive destinations for investment globally.
Foreign Secretary S Jaishankar gave this information to the Parliamentary Committee on Exernal Affairs.
I am not sure if Modi can ever act as a chowkidar, even if he wants to. But he can surely act as a thanedar, by ensuring a fast resolution of corruption cases once they come to light. Exemplary action is easier and will burnish his anti-corruption image, argues Debashis Basu.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
Public sector banks have lost nearly Rs 2.85 lakh crore on account of loan dues of 13 corporates even as the banks are used to bail out ailing financial institutions such as Yes Bank and IL&FS, United Forum of Bank Unions alleged on Monday. In a press release, UFBU's convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021 and opposing the Centre's alleged move to privatise PSBs. According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 486,800 crore and it was resolved at Rs 161,820 crore resulting in a loss of Rs 284,980 crore.
Superseding the boards of two non-banking financial companies (NBFCs) in the Srei group will neither create liquidity challenges for sound entities, nor build systemic crises because the markets have factored in the problems with the Kolkata-based firms. Such regulatory steps will help in making the NBFC space more robust, bankers and market experts said. The action should have begun earlier because the Reserve Bank of India (RBI) had done a special audit last financial year and asked the group to make provisions for assets considered stressed, analysts said.
"The issue of CAA did not come up. However, with regard to religious freedom, there is an appreciation on both sides that pluralism and diversity are common binding factors in both the countries. US President Donald Trump yesterday in Ahmedabad said about the religious diversity and how it is evident in India," Shringla said during a press conference after India-US talks.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Only NIIF has stayed the course as a viable infrastructure financing institution.
Describing the assessment for preparatory stage (class 3 to 5), the draft recommends that "written tests should be introduced at this stage".
India said a new mechanism will be set up for issues relating to trade and investment.
"I think very soon. We are doing very well. (US Trade Representative) Robert Lighthizer who is right here negotiating with India... I think, very soon we will have a trade deal," Trump told reporters when asked if there is any trade deal is expected between India and the US.
This move was triggered by a whistleblower complaint sent to Sebi against senior management interference in ensuring good ratings specifically in IL&FS and its subsidiaries.
The 19-year-old led the bout 2-0 but the reigning Asian silver medallist Khurelkhuu effected a take-down move with just 35 seconds left in the contest to level the score.
Second-tier NBFC stocks are trading at 24.4x their trailing earnings, which is nearly twice their 15-year average of 13.9x
IT major Tata Consultancy Services (TCS) has made changes to its leadership roles in North America. As part of the changes Suresh Muthuswami has been elevated to the role of chairman, North America, said sources in the know. This is one of the most significant leadership changes the company has announced for the region. The reason for the changes in the North American region, the largest in terms of revenue for TCS, is because Surya Kant who has been at the helm of North America for the past 16 years is stepping down by the end of the fiscal year, as he retires.
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
The visit by Gen Rawat, Ajit Doval and Vijay Gokhale was the first such high-level trip from India to Bhutan after the Doklam standoff.
Investors in LIC's insurance and other schemes are receiving a lower rate of return because LIC is subsidising incompetence at best and malfeasance at worst in institutions such as IDBI Bank and IL&FS, says Jaimini Bhagwati.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
Outperforming peers following a crisis in the debt markets is an act that ICICI Prudential Asset Management Company fund manager Manish Banthia has pulled off more than once.
Without disclosing reasons, ICRA informed the stock exchanges on Thursday, 'The board, after due consideration and taking into account the best interests of the company and its various stakeholders, has decided to terminate the employment of Takkar with immediate effect.'
The surge in volatility across the globe sparked by Russian invasion of Ukraine has led to an increase in prices of gold and silver - considered to be safe-haven investment bets. In the past month, silver funds have delivered returns of 7.34 per cent, while gold funds on an average have risen around 6 per cent. In comparison, the benchmark Nifty has declined 4 per cent. Fund managers say precious commodities act as a good hedge against inflation and phases of geopolitical uncertainty.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
"Pakistan is now waiting for India's response to the proposed dates," Sartaj Aziz, Pakistan Prime Minister Nawaz Sharif's adviser on foreign affairs, said.
External Affairs Ministry Spokesperson Vikas Swarup also welcomed appointment of South Carolina's Indian-American Governor Nikki Haley as US ambassador to the United Nations.
The MNS has convened a meeting of party office-bearers on Tuesday in Mumbai to discuss the issue.
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