With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
The Reserve Bank of India's (RBI's) decision to withdraw the incremental cash reserve ratio (I-CRR) is expected to benefit banks during the festival season. They are likely to increase deposit rates by up to 25 basis points (bps) in select maturity buckets. The rise in demand for funds to cover tax payments and meet quarter-end business targets could influence rate decisions by banks, according to bankers and money market executives.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
'Since September 1, a senior cabinet minister has been to-ing and fro-ing between Jalna and Mumbai by chartered flight every single day with messages from the two deputy chief ministers and the chief minister to get Manoj Jarange-Patil to back down from his agitation.'
The ED had arrested Kejriwal on March 21, hours after the high court refused to grant him protection from coercive action by the federal anti-money laundering agency.
According to insiders, their lack of enthusiasm is showing on the ground. There is nothing to suggest that their enthusiasm will return in the final four phases of polling, observes N Sathiya Moorthy.
The Opposition's stand on the Ayodhya consecration is puzzling. Their only objection seems to be that the BJP has hijacked a religious event for political benefit. In saying this, the Opposition is either being naive or hypocritical, argues Jyoti Punwani.
The country's real GDP growth in the first quarter will be better than the Reserve Bank's estimate of 8 per cent, economists said on Tuesday. Economists at the country's largest lender SBI pegged the growth at 8.3 per cent while domestic rating agency Icra estimated it to come even higher at 8.5 per cent. The Reserve Bank of India (RBI), which expects the GDP to grow at 6.5 per cent in FY24, has estimated a growth of 8 per cent in the April-June period.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
In remarks that could raise eyebrows within Congress, former Information and Broadcasting Minister Manish Tewari on Monday questioned the relevance of reservation in the 21st century.
A bench of Justices KM Joseph and BV Nagarathna said the earlier regime of four percent quota to Muslims will continue to hold field till May 9, when the matter will be heard next, without any prejudice to the contentions to be raised by the state government.
'The BJP has started a war-like situation against farmers and the Jat community.'
'Had it not been for the complicity of the state and Biren Singh's leadership, these riots would not have spread this far and for so long.'
This election will be remembered for being the first election where the Election Commission failed to take action on gross violations involving the ruling party that repeatedly used religion, communal slurs, lies and undocumented allegations, observes Ramesh Menon.
Later in the afternoon, he also said that he was planning to hold a rally of the Maratha community at the protest site on October 12. "It will be attended by all the Marathas. It will show our plight and disappointment.... I will continue my protest here and will not even see the faces of my children till then," he said.
The mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
Big movements in the price of oil can have significant impact on the economy.
She lashed out at the Bharatiya Janata Party, the Samajwadi Party and the Congress, holding them responsible for the lack of jobs and migration from the state.
'Your decisions should not be driven by your view on the market, but by your objectives, risk appetite, and time horizon.'
The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024. "The actual benefit for banks from the inclusion in JP Morgan's EM Index will accrue from June 2024 onwards. "Until then, the larger fundamentals of the market will dictate the moves. "Once the initial euphoria subsides, bond markets will look to global cues which may trigger fresh selling," said Siddharth Khemka, head of retail research, Motilal Oswal Financial Services.
'This is going to generate a new debate on reservation because the quota for Economically Weaker Sections is 10%, and that is for nearly 16% of the population.' 'For 16% you are giving 10%. This is set to raise eyebrows among the OBCs after the caste survey.'
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
Congress leader Milind Deora on Wednesday urged Maharashtra Chief Minister Eknath Shinde to scrap the delimitation and demarcation of ward boundaries in Mumbai, alleging that it was done to benefit only the Shiv Sena.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
The 'Pesta Demokrasi' is a cause for celebration not only for Indonesia but also for democracy and forces for peace all over the globe, notes Sandeep Chakravorty, India's Ambassador to Indonesia.
'ESG is actually a concept which cannot be applied effectively in the very short run.'
However, the national party count has gone down to six from 14 in over seven decades.
'We want to send a notice to the BJP that Rajputs are no longer their slaves.'
The top 50 exposures, amounting to Rs 7.8 trillion, of government-registered non-banking financial companies (G-NBFCs) constitute about 40 per cent of corporate credit within the NBFC sector, indicating concentration risk, according to the Reserve Bank of India's report "Trend and Progress of Banking in India 2022-23". Notably, all the 50 are tied to the power sector, a domain fraught with inherent challenges, the report said. The report highlighted recognising the escalating systemic importance of G-NBFCs, the Prompt Corrective Action (PCA) framework had been expanded to include G-NBFCs excluding those falling within the base layer.
Introducing reservations for economically weaker sections in admissions and government jobs is permissible but excluding SCs, STs and OBCs as they enjoy pre-existing benefits is to heap fresh injustice, the Supreme Court said in its minority verdict on Monday, striking down the 103rd Constitution amendment.
'I am a Muslim and if my Hindu brothers were to march to my house and if that were to give birth to any controversy, then this government will use it to exploit another issue.' 'I don't want to give BJP leaders a chance to play their communal politics.'
SC for status quo on AP reservation for Muslims
The government also ruled out having a re-look at the present reservation system.
The top law officer said that even if some people of the community have come up, the stigma of caste and backwardness is still attached to them.
The Indian economy is projected to grow at 6.3 per cent in current financial year aided by investment and domestic demand. According to a World Bank report released on Tuesday, India continues to show resilience against the backdrop of a challenging global environment. In India, which accounts for the bulk of South Asia region, growth is expected to remain robust at 6.3 per cent in 2023-24, India Development Update of the World Bank said.
Senior BJP leader Yashwant Sinha has written a letter to Prime Minister Manmohan Singh, saying he is appalled and dismayed at the recommendations of Trai.
'Congress leaders who are making strategy for the Congress to win elections have not even won a class monitor elections.' 'When you have not contested school monitor elections, what will you know about the ground reality?'
The bench, which also comprised justices AS Oka, JB Pardiwala, Pankaj Mithal and Manoj Misra, pronounced two separate but concurring judgements in the matter.
The ruling handed down by a bench comprising Justices S B Sinha and P P Naolekar on Thursday said that even a chief minister or principal secretary, labour did not have any authority to make any relaxation in the minimum eligibility conditions.
