ICICI Bank extended yesterday gains, rising 10% in two trading sessions
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the finance minister said, "No Sir". Many economists and experts have suggested to the government to print more currency notes to tide over the difficult economic situation with a view to support the economy ravaged by the spread of COVID-19, and protect jobs.
The Supreme Court on Wednesday said it would hear after two weeks the applications which have raised issues relating to the Board of Control for Cricket in India. The matter came up for hearing before a bench comprising Chief Justice S A Bobde and Justice L Nageswara Rao.
The Union Budget on Monday evoked contrasting responses in the political arena with the ruling Bharatiya Janata Party hailing it as a vision for an 'Aatmanirbhar Bharat' and the Opposition describing it as a 'let down like never before' that was meant to 'deceive' people.
'Space out when raising funds; Sebi mulls securitisation platform'
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Many insurers either do not cover consumables like PPE kits, gloves, etc at all or cover up to a certain limit, warns Amit Chhhabra.
He said no matter how much evolution happens in technology, India could never become a fully cashless economy.
'Akhilesh did politics like Rabi and Kharif crop which come once a year. Politics is not seasonal, you have to harvest your field all through the year and only then you get a good crop' Political analyst lists 12 reasons why Akhilesh Yadav lost the UP elections.
The scheme, which would give Rs 6,000 to small farmers in a year or Rs 500 a month, will add more money to the account of these cultivators than the money he/she saves every month on an average.
A businesswoman from Gujarat tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
The success of the government will depend substantially on the quality of its team of key ministers, officials and advisors
Navarino Narah, a travel and luxury boutique hotels consultant from Arunachal Pradesh, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
Payal Kumari, daughter of a migrant worker from Bihar, battled the odds including financial woes, to top the BA archaeology course at Kerala's Mahatma Gandhi University.
The India-Japan 2+2 dialogue added strategic heft to the special relationship in the wake of growing Chinese assertiveness on regional affairs, points out Dr Rajaram Panda.
Tanvi Dubey, a supreme Court lawyer, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
Akansha Dixit, who works in a firm in Mumbai, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
Janmejaya Sinha lays down Urjit Patel's agenda - cleaning up bank balance sheets, evaluating robustness of CPI and pushing for digitisation in financial services.
'Many said his visit was very risky. But mercifully, Air Force One has taken off from Delhi without Mr Trump stepping on anybody's toes,' notes Ambassador T P Sreenivasan.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
Modi said that there was an immediate need to strengthen the WTO, fighting protectionism, ensuring energy security and work together to fight terrorism.
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
'Some people make the majoritarian argument that a lot of Indians speak Hindi.' 'But where exactly? Is that not relevant?'
Medha is an organisation created with the idea of bringing in better employment opportunities and life for educated youth.
The ministry has also asked that the cap of such borrowings is to be set at $500 million (Rs 3,450 crore) for a single company and $1 billion (Rs 6,900 crore) for the entire sector.
The G20 chair has suggested three areas for the talks in Argentina - the future of work, infrastructure for development and a sustainable food future, areas where India has a lot at stake.
Budget forces last minute change in finance minister's plans.
He said countries should work for promoting open and inclusive cooperation for win-win outcomes.
On production capacity of Covishield, the vaccine being manufactured and supplied by Serum in India under a licensing agreement with Oxford and AstraZeneca, he said the present capacity is 130 million doses per month and always try to increase it further.
TCS moved into new markets like France, Japan thanks to acquisitions.
Modi praised Tamil Nadu as a special place and lauded the Tamil language as eternal and its culture as global.
The cash crunch following demonetisation and transaction fees that do not cover costs are among the reasons why the sector is struggling.
'We are the only country in the world where everybody gets a digital vaccination certificate immediately... Then as we open up, as they did yesterday, which I think is a welcome move, you will have lots and lots of points where people will come in'
'If India maintains the Constitutional set-up that its founders envisaged -- which is that it is a parliamentary democracy, with a broadly speaking market economy, in which all people are equal as everyone votes, in which the rights of minorities are respected -- that will be a great thing.' 'Not just for India. But for humanity.'
About 150 years ago, in British India, big farmers in the western region of Maharashtra agitated over unfair lending practices and demanded a more fair and inclusive financing structure. People say this is where the seeds of the cooperative movement, now omnipresent in the country, were sown. Today, more than 800,000 cooperative societies thrive in India, with 300 million members, a number close to the population of the United States. Despite a reach this deep--grass roots as they call it--cooperatives do not occupy a lion's share in the Indian economy.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
