Economy

‘Claims about distress exaggerated’ Non-banking financial companies (NBFCs) are in the news following the IL&FS fiasco. The fall from grace for the giant has shaken up India’s financial markets. “The secular upswing enjoyed by NBFCs over the past five years has come to a sudden halt — bond markets are …

‘But, awareness about tax is rising’ Corporates are now realising that coming to terms with GST means a more drastic change to their tax infrastructure than the basic compliance-related changes they have made so far, Vishal Parekh, regional head, South Asia, Thomson Reuters said in an interview. “In the last …

Cost of funds seems to have increased by 30-40 basis points in wake of scare, says IIFL Group chairman The IL&FS debacle has raised the cost of funds for non-banking financial companies (NBFCs) by 30-40 basis points, says Nirmal Jain , founder and chairman, IIFL Group, which derives almost 60% …

Annual numbers throw up questions on financial management, complex group structure and debatable accounting policies The new Board of Directors of Infrastructure Leasing & Financial Services Ltd. (IL&FS) has ordered a fresh audit of its books and it is just as well that it has done so. A quick run …

The company is miles ahead in compliance, not only in ALM but also on capital and liquidity coverage ratio, says the vice chairman of Indiabulls Housing Finance Gagan Banga , vice chairman and managing director of Indiabulls Housing Finance, says the recent move by banks to increase loan purchases from …

Present tariffs not sustainable for sector’s long-term health, says Director General The telecom sector is likely to experience three more quarters of losses, hurt by high levies and “unsustainable tariffs,” Cellular Operators Association of India (COAI) director general Rajan Mathews said. “Under the current scenario, I see at least another …

The multi-agency committee set to finalise the definition of a “shell company” for the purposes of enforcing penal laws for various violations is yet to arrive at a consensus to diverse opinions on yardsticks for identification of such entities. After a large number of entities, classified as a shell company, …

Country’s ranking drops 3 places inthe index for 2018 At least one in five Indian children under the age of five are ‘wasted,’ which means they have extremely low weight for their height, reflecting acute under-nutrition, according to the Global Hunger Index 2018. The only country with a higher prevalence …

Kudashev hints at more defence deals with India after the conclusion of the S-400 Triumf missile purchase India and Russia’s defence deals won’t be affected by the United States’ threat of sanctions, and several more defence deals are expected to be completed after the S-400 Triumf missile deal concluded on …

At least one in five Indian children under the age of five are ‘wasted,’ which means they have extremely low weight for their height, reflecting acute under-nutrition, according to the Global Hunger Index 2018. The only country with a higher prevalence of child wasting is the war-torn nation of South …

Kudashev hints at more defence deals with India after the conclusion of the S-400 Triumf missile purchase India and Russia’s defence deals won’t be affected by the United States’ threat of sanctions, and several more defence deals are expected to be completed after the S-400 Triumf missile deal concluded on …

Dassault Aviation said on Thursday that it chose Reliance Defence “freely” on the Rafale aircraft deal. The French military major issued a press statement a day after reports in the French media claimed that the company was made to choose Reliance Defence in a “trade-off” to get the Rafale fighter …

Land Management Agency to dispose assets, says Centre The Cabinet on Wednesday approved the closure of National Jute Manufactures Corporation and its subsidiary Birds Jute & Exports Ltd. “Disposal of fixed assets as well as current assets will be in accordance with the guidelines of DPE dated June 14, 2018 …

Centre appoints Sachin Chaturvedi and Revathy Iyer The government has appointed Sachin Chaturvedi, who heads Delhi-based think tank Research and Information System for Developing Countries (RIS), in place of Nachiket Mor on the central board of the Reserve Bank of India. Revathy Iyer, a former Indian Audit and Accounts Services …

Axis, Yes Bank and Kotak Mahindra among top gainers in the Sensex pack In a relief rally of sorts, benchmark equity indices gained more than 1% on Wednesday, a day after the State Bank of India (SBI) said that it would provide liquidity support to non banking financial companies (NBFCs). …

Focus on easy-to-implement schemes The government on Wednesday released a draft National Electronics Policy under which it is targeting a turnover of $400 billion for the electronics system design and manufacturing (ESDM) sector. “This shall include targeted production of one billion mobile handsets by 2025, valued at $190 billion (approx. …

‘Central bank has wherewithal to make any intervention’ The current rupee exchange rate situation is different from past instances when the rupee depreciated, since the Reserve Bank of India (RBI), this time, has the wherewithal to make any intervention as and when it wants to, former RBI Governor Bimal Jalan …

Association tells govt. to stop prioritising supply to power plants, says others deprived of raw material The Aluminium Association of India (AAI) has written to the government asking it to stop prioritising coal supply to power plants. The exclusion of other industries that required coal was depriving them of the …

While LIC has a direct stake in more than 300 listed companies – with a stake of at least 1% or more – there are at least 24 entities in which it has a stake of over 10%, as per the shareholding data available on the BSE. Most of these …

Tech giant also unveils Pixel 2-in-1 tablet and a connected Home Hub speaker Google’s new Pixel phones mirror the industry trend moving the devices toward lusher, bigger screens and add new twists on the camera for taking better selfies and other pictures. The Pixel phones have barely made a dent …