The RBI working group's proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya. They also said that the proposal is "best left on the shelf".
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
We can hope that some of the benefits of the rural spending - on irrigation, roads, etc -- will spur rural demand and improve rural productivity, says P V Subramanyam.
The new definition under the Code of Wages, 2019, includes three components: basic pay, dearness allowance and retention payment.
A recent survey done by indianboards.com suggests that around 283 directors will retire by October this year.
Sentiment has improved but no progress on GST & ending 'tax terrorism' disappoints.
RBI Governor Raghuram Rajan expressed anguish at the banks' reluctance to pass on benefits of the earlier rate cuts.
The development comes after Sebi received representations from listed entities, chartered accountant firms, and industry bodies, seeking further extension of time for filing of financial results for the quarter/half year/financial year ended March 31, 2020.
Companies in India are expected to dole out an average increment of 7.3 per cent to employees this year amid faster-than-expected economic recovery and revival in business and consumer confidence, according to a survey. The first phase of the 2021 Workforce and Increment Trends Survey by Deloitte Touche Tohmatsu India LLP (DTTILLP) also said the average increment this year will be higher than 4.4 per cent seen in 2020 but lower than 8.6 per cent given by companies in 2019. As many as 92 per cent companies that participated in the survey plan to give an increment in 2021 compared to only 60 per cent last year.
Govt assurances fail to cut ice with Jat leaders as agitation intensifies, Maruti halts production at two plants; highways, railway lines blocked
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
Costlier onion and other vegetables pushed up inflation for the third month in a row to 6.1 per cent in August, making it difficult for the RBI to cut rate in the monetary policy review due later this week.
Speaking at an Assocham event, Modi said the recent cut in corporate tax has brought rates to all-time low for businesses, adding that labour force should also be taken care of.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
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Top firms will have enough firepower to go for foreign M&As, given their balance sheet growth, say bankers.
A full-blown recovery remained elusive for India Inc in the July-September quarter, even as it overcame the challenge of achieving profitable growth.
Govt depts, banks prone to information leakage.
Showing signs of recovery, industrial production grew at 4.7 per cent in May, the highest since October 2012, on account of improved performance of manufacturing, mining and power sectors and higher output of capital goods.
Companies that have a net worth of at least Rs 500 crore, a turnover of Rs 1,000 crore or a net profit of Rs 5 crore are required to spend 2 per cent of their net profits on corporate social responsibility programmes.
At the annual general meeting (AGM) of Larsen & Toubro (L&T) on Wednesday, shareholders made the usual request to the top management for bonus shares. But this time, the setting was different. The man at the helm, outgoing group chairman AM Naik, 82, was heard assuring shareholders that he would join the chorus soon. There were laughs and chuckles at Naik's playful remark as he addressed the last AGM, nearly six decades after he joined L&T as a junior engineer and some 25 years at the top.
New risks have been identified, which include risk of non-compliance, business investment risk and legal regulatory risk.
Lower cost and easier termination may well be among the reasons that companies seek to have employees on contract. The share of employees on contract has increased to 57.3 per cent of the total workforce this year as compared to 53.7 per cent in the previous year.
For fast-moving consumer goods, growth is likely to be tepid.
In a conversation with Vishal Chhabria and Hamsini Karthik, Gautam Chhaochharia, executive director & head, India Research, UBS, explains why implementing goods and services tax (GST) may not be as disruptive as many perceive it to be. But, he warns investors shouldn't have high expectations on corporate earnings.
The Central bank primarily factors Consumer Price Index while deciding on policy rate.
Mid- and small-cap companies seem to have done better than top-tier companies
The consumer durables segment declined by 23.4 per cent in June, as against a dip of 10.1 per cent a year ago.
Businesses across the world consider efficient delivery of shipments to be a growth driver, and IoT-based start-up Roambee fills this need with real-time reports to businesses using tracking data.
Dismayed by the BJP's decision to say no to FDI in multi-brand retail in its election manifesto, India Inc has urged the party to reconsider its stand, saying the move may send a wrong signal to overseas investors.
Rajan has a great track record abroad.
All these male politicians are unlikely to risk their sinecures to speak up in support of a bunch of women wrestlers who have chosen to challenge a politician who appears to have the ruling regime in a stranglehold, points out Kanika Datta.
Pitching for a non-adversarial tax environment, India Inc on Tuesday suggested reduction in tax rates on corporate as well as individuals to boost economic growth.
Industry is displeased over the failure of the National Manufacturing Policy, which has failed to invite any sizeable investment since it was launched more than two years ago.
Finance Minister Nirmala Sitharaman on Thursday said the government will consider the Production Linked Incentive (PLI) scheme for Chemicals and Petrochemicals sector to make India a manufacturing hub for such products. In view of stringent pollution control regulations and rising labour cost, she said, global manufacturers in the chemical industry are looking at diversifying their products and production capability and India stands out as an alternative destination for manufacturing. Besides, India offers a large domestic market, she said while addressing the third edition of the summit on 'Global Chemicals and Petrochemicals Manufacturing Hubs in India'.
Adapting to the new hybrid normal of remote and office work, cautiously optimistic corporate are looking to hire more people and provide better appraisals in the new year as they step out of the pandemic-ravaged 2020. The coronavirus pandemic emerged as the biggest inflection point for the Indian job landscape. For the corporates, work-from-home and remote workers became the new normal and for the professionals, online learning and digital skills took centrestage.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
Worried over the fallout of the Supreme Court's observations on allocation of coal blocks, India Inc wants the apex court to consider a reprieve for those allotted to genuine companies that have invested billions.
