'We like certain stocks from banking, insurance, retail, hospitals and capital goods.' 'Though some of these stocks may seem expensive, they will compound well over the long term, thus justifying their current multiples.'
Chairing an exclusive roundtable with 42 global CEOs and top executives from across 20 sectors, Modi stressed on continued political stability in India, predictability of policy, and pro-development and pro-growth policies.
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
The era when anyone could encroach on India's land has passed and no one can dare to eye its border, Home Minister Amit Shah said in Kibithoo, Arunachal Pradesh, on Monday.
In a business friendly move, the Reserve Bank of India on Friday said that the Real Time Gross Settlement (RTGS) system, used for large value transactions, will be made available round-the-clock in the next few days. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
The bad loans of public sector banks were at 4.4 per cent in March 2014 compared with 2.09 per cent in 2008-09, it said, adding, the gross NPA increased by almost four times from March 2010 (Rs 59,972 crore or Rs 599.72 billion) to March 2014 (Rs 2,04,249 crore or Rs 2,042.49 billion).
'Digital India' initiative has a huge potential, he said.
Modi cautioning that cryptocurrency can spoil the youth.
Having created businesses ranging from world's largest single-location oil refining complex to nation's largest mobile network operators in just few years, billionaire Mukesh Ambani says his group Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates of the world. Addressing employees on Reliance Family Day - the birthday of the group's founder Dhirubhai Ambani, he said Reliance is now aiming to consolidate a place among global leaders in digital data platforms and AI adoption. "Today, the domestic and global environments for business are changing very fast.
Raghuram Rajan optimistic about passage of GST
The Indian economy is reviving, helped by positive policy actions.
Ultimately quotas kill talent and true meritocracy, argues R Jagannathan.
The "Tiny Card" with biometric identification is State Bank of India's answer to the challenge of financial inclusion of one lakh villages in the country.
Though Narendra Modi doesn't know it, he is a victim of this deep-rooted infection.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
There hasn't been any dramatic moment in the first act (the Budget) but nobody would complain. It's par for the course as long as the figures don't change in the main Budget, which will be presented after general elections.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
AI, IoT, 3D printing, drones, data storage, quantum computing etc are all re-writing world economic order, the FM said.
If states have to fall in line with MSPs declared by political parties, they will have to do so in violation of central order or bear the full expense of the surplus procured at above MSP rates.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Congress MP Rahul Gandhi will embark on a fresh padayatra (foot march) from Gujarat to Meghalaya and during that period leaders and workers of the party's Maharashtra unit would criss-cross the state, Maharashtra Pradesh Congress Committee president Nana Patole said on Tuesday.
Kumar said the Commission will follow the time-tested methods of consultations and consensus building in bringing about any reforms and will not shy away from tough decisions, according to an Election Commission (EC) statement.
Some believe the shift to mobile-based transactions will be seamless considering that the urban tele-density is 148%. In rural areas, it is touching 51%. But smartphone penetration in India is a mere 12%. Growth of mobile money has been extremely slow: It is currently 1%.
'We are committed to achieving the targets we had outlined.'
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
Digital literacy is emerging as the professional language of 2024. It is the ability to process complex data sets, deploy critical communication technologies appropriately and validate your importance at your workplace, explains Jagdeep Kochar, managing director, Baker & Taylor India.
The bank will have around 501 branches.
Gold loan companies offer loans to financially-excluded customers and MSMEs by enabling them to monetise their gold without the need for documentary proof of income
The Securities and Exchange Board of India (Sebi) is working on a new payment system for the secondary market, which could prevent brokers from accessing their client funds. It will be on the lines of the Application Supported by Blocked Amount (ASBA) process used for subscribing to initial public offerings (IPOs), where funds move out of an investor's bank account only after the trade is confirmed. Sebi chairperson Madhabi Puri Buch on Wednesday said that despite the challenges, the new system would be ready in a few months.
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
The supply chain for fast-moving consumer goods (FMCG) companies is seeing congestion due to persistently low demand. This has led to an increase in inventory days, with stocks accumulating at distributors and compelling them to extend higher credit periods to retailers. Distributors, Business Standard spoke to, revealed that demand inventory days have more than doubled in some cases, forcing them to offer credit terms as long as 45 days to retailers, as consumer offtake continues to face pressure.
Each member will separately sign the agreement & it will become effective only after the last member signs the pact.
The All India Bank Officers' Confederation has condemned the purported "unsavoury attack" on SBI chairman Rajnish Kumar by Finance Minister Nirmala Sitharaman during a banking event last month in Guwahati. The association claimed that an audio clip has gone viral on social media that revealed the finance minister coming down heavily on the SBI chief, accusing him of poor credit uptick, during an outreach programme in late February.
