A paper authored by Rajan said, state-linked banks can be a first step in altering the ownership structure of some PSBs, where the government brings down its stakes to below 50 per cent, creating distance from operations of banks, and improving governance along the way.
New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
The government on Wednesday said it has cleared Norwegian telecom firm Telenor's proposal to invest Rs 1,000 crore in a joint venture company in the telecom sector.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
'For the next two years, we expect the bulk of earnings growth contribution from sectors like financials and energy, where the outlook remains positive, while the sectors which are linked to domestic consumption and are currently witnessing strains on margins have low salience for Nifty earnings.'
'With the ease of access, we have seen an increased participation from tier-2, tier-3, and tier-4 cities/towns.'
'Good investment opportunities should not be missed.'
The country may become militarily impressive, pile on GDP and the durbar of the ruling party may fill with the wealthy indebted to the rulers for their riches. But the spontaneous camaraderie of a free people will diminish and with it, our shared ownership of the country, warns Shyam G Menon.
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The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
Tatas and Singapore Airlines have assured the government that control of their proposed airline venture would always remain in Indian hands, while seeking approval to offer passenger services on both domestic and international routes.
Her great grandfather began sugar co-operatives in Maharashtra. Her grandfather was an eight time MP. Her uncle is currently leader of the Opposition in the Maharashtra assembly. Her cousin joined the BJP on Tuesday, March 12. Nila Vikhe Patil, who could one day become prime minister of Sweden, unravels her India connections in an e-mail interaction with Rediff.com's Vaihayasi Pande Daniel.
Crypto-currency, which is fast gaining popularity in the western market is now to enter cricketing space with 'Cricket Foundation', which claims to have 50,000 users even before its launch, and is complemented by over 60,000 followers on social media.
Now, 83 per cent males and 77 per cent females have formal bank accounts but they are hardly using them
I have heard cynics say that Priyanka Chopra Jonas as we know her today is the creation of a PR machinery, but that is rather a poor reading of a determined woman and the work she has done to get to where she is. Aseem Chhabra salutes the movie star on her 40th birthday on July 18.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
Troubled Force India co-owner Vijay Mallya dismissed speculation of a possible sale of his team to Australian David Brabham or Formula One's former commercial supremo Bernie Ecclestone.
'In China there is capital punishment for heritage theft. That is how they treat criminals, unlike us.' 'Here we treat them like it's a house-breaking theft.'
'People on the wait list will be accommodated for vaccination when the scheduled beneficiaries don't turn up.'
The Indian economy is on the path of a durable recovery on the back of conducive monetary and credit conditions, the global headwinds notwithstanding, said a Reserve Bank of India (RBI) article on the state of the economy. Domestically, there have been several positives on the COVID-19 front, in terms of reduced infections and faster vaccinations, the article published in the RBI Bulletin November 2021 added. The Indian economy, the article said, is clearly differentiating itself from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections in various parts of the world.
Electric mobility in India is touted to be the way to the future, but implementation of large-scale projects to bring infrastructure for charging is still lacking.
Tata Motors on Wednesday expanded its electric vehicle range in the country with the launch of Nexon EV MAX, priced between Rs 17.74-19.24 lakh (ex-showroom). Equipped with a 40.5 kWh lithium-ion battery pack, the Nexon EV Max offers 33 per cent higher battery capacity than the Nexon EV, delivering ARAI certified range of 437 km (under standard testing conditions), ensuring uninterrupted inter-city travel. ARAI refers to Automotive Research Association of India. The model produces 105 kW (143 PS) of power and delivers a torque of 250 Nm, resulting in 0 to 100 sprint times in under 9 seconds.
While the Slavia comes in eight different variants, it's the base model that starts at around Rs 10.7 lakh that is most likely to take a bite out of the market share of its competitors, says Pavan Lall.
While stock exchanges worldwide are consolidating, not much action is happening in India due to the cap on equity holding in stock exchanges.
States should ensure a weekly positivity rate of less than 5 per cent, vaccination coverage of at least 70 per cent among the vulnerable section, and community ownership of Covid-appropriate behaviour, reports Ruchika Chitravanshi.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
Indian envoy to Nepal Ranjit Rae on Monday briefed the government on the latest situation in that country after it adopted its new fully secular and democratic Constitution amid violent protests in several parts of Nepal along the Indian border.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
Higher growth, reform bets have boosted returns but leave limited room for error.
The Tatas, L&T and Bharat Forge expressed interest in building pressure swing adsorption oxygen plants at hospital sites, while IOC and RIL are pitching in with both oxygen and cryogenic tankers needed for its transportation.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
Indian Premier League franchise Royal Challengers Bangalore has notified the Board of Control for Cricket in India about Vijay Mallya's resignation as Director of Royal Challengers Sports Private Limited (RCSPL).
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
'They know Sharad Pawar will be playing a huge role in unifying the Opposition.'
'Investing in the stocks of holdcos can be a very efficient and inexpensive way of gaining exposure to the stocks of India's reputable growing business houses.'
As much as we enjoy and write reams and reams about our amazement at the Kantara climax, 30 years on from now, will we remember these portions more fondly or the ones where Shiva is simply hanging out with his friends, mulls Rohit Sathish Nair.
