Business success often involves a combination of planning, implementation, and continuous learning, says rediffGURU Harsh Bharwani.
SBI Q3FY24 result review: A higher-than-factored weakness in the October-to-December quarter (Q3) results of State Bank of India (SBI), for financial year 2023-24 (FY24), has prompted brokerages to cut earnings estimates for the ongoing financial year. They, however, have maintained 'Buy' ratings on the stock, revising target price upwards in some cases, owing to the stock's recent underperformance relative to its peers.
Businesspersons who have the potential to contribute to the economy of a country are given a red carpet welcome by way of a start-up visa.
Despite a largely stable December quarter, investors booked profit in shares of IndusInd Bank (IIB) as an increase in slippages took them by surprise. Analysts, on their part, believe investors may, now, wait for actual delivery on slippage decline, potentially limiting near-term upside. "The management has indicated that corporate slippages (from legacy stressed book) have ended and inch up in consumer finance slippages was more one-off, and should meaningfully improve Q4FY24 onwards.
Weakness in HDFC Bank's net interest margin (NIM) might have bottomed out in the July-September quarter (Q2-FY24), analysts said on Tuesday, as most of the merger-related one-time adjustments have been done. The bank, they believe, should be able to grow from here on, allowing the stock to reverse its underperformance. "The weak NIM print was not unexpected given the merger and regulatory impact caused by the incremental cash reserve ratio (ICRR; 5-10 bps for the quarter).
Non-compliance can also result in legal complications and disputes with the tax authorities.
Ahead of Friday's extraordinary general meeting (EGM), Byju Raveendran, chief executive officer (CEO) of Byju's, told shareholders that he is committed to restructuring the board of the embattled educational technology (edtech) firm. He also committed to appointing two non-executive directors to the board by the mutual consent of the founder and shareholders. The development comes at a time when a consortium of key shareholders, holding over 30 per cent stake in Byju's, issued a notice to the embattled edtech firm this month, calling for an EGM to address "persistent issues", including a proposed change of management at the firm.
'Kejriwal could have easily deputed someone to step in as chief minister, but being the authoritative and self-centered personality that he is, he chose not to do it.' 'If the AAP loses Delhi, where it has a huge majority, the only one to blame would be Kejriwal,' asserts Ramesh Menon.
The United States has said that India is committed to the Nuclear Liabilities Bill and it was up to the United Progressive Alliance government to figure out how to move forward in the wake of the Opposition's objections to some aspects of the controversial legislation.The stalled bill, whose passage in Parliament is a must, is a crucial step for the full implementation of the historic Indo-US civil nuclear deal.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The passage of the Women's Reservation Bill in the Rajya Sabha on Tuesday has not ended the problems of the United Progressive Alliance (UPA).
Cash-strapped edtech firm Byju's' parent company said on Monday it will raise $200 million by way of a rights issue to all its equity shareholders, aiming to support growth and achieve operational sustainability. The proposed rights issuance by Think and Learn Private Limited (TLPL) will fund capital expenditure and support general corporate purposes. As the largest shareholders, the founders of Byju's have personally invested more than $1.1 billion in the company in the last 18 months.
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
If she cannot recast the party, bring together the factions opposed to her, and present herself as her brother's true challenger, there will be little left for her in politics, notes Aditi Phadnis.
According to reports, AEG Live had agreed to "self-insure" Jackson's shows after most insurance companies expressed doubt whether the frail singer would be able to complete the residency.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
Section 54 EC, if availed properly can bring several benefits for the taxpayer.
Chairman of Parliamentary Standing Committee on Science and Technology T Subbirami Reddy on Friday voiced confidence that the report on the nuclear liability bill will be tabled in Parliament on Wednesday, despite differences among members.
HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.
Sparking a controversy, a Congress candidate for the Jammu and Kashmir assembly elections has mentioned the marriage of his daughter as a "liability" in his affidavit submitted along with his nomination papers.
Replying to the debate on the Finance Bill in Lok Sabha, the minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Co-lending deals between non-banking financial companies (NBFCs) and banks are likely to rise after the Reserve Bank of India's (RBI's) decision to increase the risk weight on consumer credit, industry leaders and experts say. Smaller NBFCs, they add, may increasingly opt for co-lending as capital markets could become costlier for them. "Smaller NBFCs will be more comfortable with co-lending because they are geography-specific in terms of industry or customers.
The Supreme Court on Wednesday asked the Jalan-Kalrock consortium, the new owners of cash-strapped Jet Airways, how much have they paid towards dues on account of provident fund and gratuity to the former employees of the troubled airline. The top court made the query while commencing the hearing on a batch of petitions, including the one filed by the Jet Aircraft Maintenance Engineers Welfare Association, against the October 21, 2022 order of the insolvency appellate tribunal NCLAT.
According to the Income Tax Act, there are two main benefits available for senior citizens. First, a higher exemption limit of Rs 1,95,000 for someone who has crossed 65 years. Also, there is a higher deduction of Rs 20,000 available for payment of premium for a medical or a health insurance policy.
Investors can sell a part of the stocks, mutual funds, exchange-traded funds, and other securities held in their portfolios at a loss and use this loss to offset tax on the capital gains made on the sale of other securities.
Generative AI (GenAI) has the potential to add a cumulative $1.2-1.5 trillion to India's GDP over the next seven years, according to a report by EY. The report titled 'AIdea of India: Generative AI's potential to accelerate India's digital transformation' says that in 2029-30 alone, GenAI can contribute an additional $359-438 billion to India's GDP. The report said that around 69 per cent of the overall impact of GenAI on India's GDP is expected to be derived from sectors such as business services (including IT, legal, consulting, rental of machinery and equipment, and others), financial services, education, retail, and healthcare.
The Nuclear Liability Bill will be taken up in the Lok Sabha on Wednesday, the day Parliament will resume after a three-day recess. Government sources said that the bill, to which the Union Cabinet had on Friday approved 18 changes as per the recommendations of the Standing Committee on Science and Technology, would be brought in the Lower House. The changes included a three-fold hike in the liability from Rs 500 crore to Rs 1,500 crore.
The Reserve Bank of India has imposed caps on inter-bank liabilities from April 1, 2007, as several banks, particularly the smaller ones, have been borrowing heavily to tide over tight liquidity.
The employers often split wages into different allowances to reduce their PF liability and also increase the take home pay of their workers.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
'The state of Gujarat was to my mind 'partisan and over enthusiastic' in the way it dealt with remission applications.'
The Prime Minister's Economic Advisory Council warned of serious fiscal risks from growing off-Budget liabilities, which are estimated at 5 per cent of gross domestic product in 2008-09. This would be much more the budgeted central government deficit of 2.5 per cent of GDP for the year.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
Based on this settlement, the Supreme Court has disposed of the case on February 20.
What is in store for the Koodankulam nuclear power plants, asks S P Udayakumar.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
One very important aspect of filing returns is the adjustment of losses. The Income Tax (I-T) Act allows taxpayers, under certain conditions, to set-off loss against income or gains, reducing the net tax liability.
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