Economy

Telecom Minister Manoj Sinha on Monday said the work on the second phase of implementing the Bharat Net project was on track. The Bharat Net project aims to bring broadband connectivity to 2.5 lakh gram panchayats in the country. “We have completed approximately 50% of the project… the work has …

‘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 …