Wednesday, March 31, 2021

Govt to snip red-tape in PSU sale approval, cut time frame by 90%

Proposals may directly go to CCEA for its nod

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Govt ready to extend Vivad se Vishwas to settle Cairn Energy dispute

States asked to trace 25-30 contacts of each Covid-19 case

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SP Group exit likely to stretch Tata's finances for years to come

Tata Sons had liabilities of Rs 33,500 cr and debt-to-equity of 0.7x last year

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A case for India, Bangladesh weaving new ties in textile and apparel

India could become a big market for Bangladeshi suppliers if the central government pursues this as a priority but India also has a robust apparel sector of its own, which it cannot neglect

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RCB deal an ideal extension of our partnership with Kohli: Abhishek Ganguly

Abhishek Ganguly, MD, Puma India and Southeast Asia, talks to Dhruv Munjal about the partnership, how the company has dealt with the pandemic, and why it continues to be the dominant force in India

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Explained: Why 'atmanirbharta' flows against oil security for India

Instead of relying on negligible domestic deposits, India should be securing steady supplies from abroad

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Beverage firms betting big on launches to add fizz to summer sales

The out-of-home market typically contributes two-third of the sales of beverage companies, said experts

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Government likely to extend further existing foreign trade policy

Officials said that a delay in spelling out a fresh five-year roadmap on international trade will give policymakers more time to take decisions on crucial policies

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From JSW to SAIL, major steel companies' stocks show strong upside

Brokerages bullish on improving cycle and higher prices

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Innovation at warp speed

Book review of The Ventilator Project

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Govt not interested in footing Rs 8,000-cr moratorium bill for banks

Govt is of the view that the onus of reimbursing compound interest charged to customers does not fall on entirely on itself, said a top govt official

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Punjab neither conducting adequate tests, nor able to isolate cases: Centre

Punjab has been neither conducting adequate number of tests nor been able to promptly isolate COVID-19 positive people, the Health Ministry said on Tuesday.

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Govt approves issuance of 16th tranche of electoral bonds from April 1-10

The 15th tranche of bond sale took place from January 1 to January 10, 2021

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A data-driven path to vaccine equity

The relative weightage of economic activities and mortality may be a serious issue, which the policymakers should decide and the model can be rebuilt based on the country's perspective

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Liberty Steel nationalisation 'an option' to save jobs, says UK govt

Business Secretary Kwasi Kwarteng has been in crisis talks with the firm since the collapse of its biggest lender, Greensill Capital, put nearly 5,000 jobs at risk

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Competition in e-tail: Fair or unfair?

The e-commerce foreign direct investment policy doesn't sit well with the concept of competition

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Opaque world of trading

Archegos implosion: Regulators must ask some serious questions

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My conscience is clear: Cyrus Mistry on SC judgment in Tatas case

Mistry said his aim at Tata was to ensure a robust board-driven system of decision-making and governance that is 'larger than any one individual'

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Bonds on watch

Inclusion in global indices would demand higher fiscal standards

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Shareholder of DHFL moves Bombay High Court, seeks stay on delisting

The regulation further provides that the floor price will be determined in terms of the Takeover Regulations

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DGCA approves 3,282 daily flights for summer schedule: Check details here

Operations have started with only 2,691 flights

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The second wave: Covid cases going up, Thane opts for 'limited lockdowns'

Local businesses hit, bigger industries coping better

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French mobility firm Alstom bags Rs 1,854-cr contract for Mumbai Metro

The line is a 35.3-km-long elevated corridor with 32 stations

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Easy Trip co-founder upbeat despite public listing at worst time for travel

Easy Trip Director Prashant Pitti is sanguine, even though his firm, which operates EaseMy­Trip.com, gets more than 90% of its revenue from selling airline tickets

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UltraTech Cement prepays long-term loan of Rs 5,000 crore loan

UltraTech Cement on Tuesday said it has prepaid its long-term loans of Rs 5,000 crore

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Tuesday, March 30, 2021

Retail loans set to become largest segment for Indian banking industry

Lenders depending on personal loans rather than industrial credit

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Valuation tangle: Malegam math may hold key to Mistry's exit from Tata Sons

Veteran CA valued Tata Sons at Rs 3.14 trn in 2016

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Varde Partners in talks with Embassy to extend Rs 900-crore loan

Varde is also in talks to lend about Rs 1,200 crore to Hyderabad-based Phoenix Group

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Gaitonde, Tyeb Mehta, other modern masters return with AstaGuru's auction

Since the onset of the pandemic, the Indian art auction market has stood its ground through the course of the past one year

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TVS Automobile Solutions revs up for the automobile aftermarket

With the acquisition of Mahindra First Choice, the subsidiary is driving its pan-India presence with tech solutions and tie-ups

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Avoiding a K-shaped global recovery

Political leaders in the developed world must recognise that no one is safe until everyone is safe, and that a healthy global economy is not possible without a strong recovery everywhere

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Monetising content

Wikipedia's new initiative will make it more sustainable

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Rational expectations

Evolving conditions would lead to adjustment in markets

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3.5 million MobiKwik users' data up for sale, company denies claim

The leak was first reported in February by security researcher Rajshekhar Rajaharia, which the company had denied at the time

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Gupta's Liberty Steel to restart operations, in talks with UK government

Sanjeev Gupta's Liberty Steel UK plans to restart steelmaking next week and continues to seek new funding after its main financial backer Greensill Capital went into insolvency, it said on Monday

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Monday, March 29, 2021

Amazon plans to step up e-payments, financial services in India

Wish to convert cash-hardened customer into a digital one: Amazon Pay CEO

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Car buyers in India moving up value chain despite salary cuts, job losses

Maruti Suzuki India (MSIL), the market leader, has seen the contribution of mid- and top-end variants as the percentage of a model's sales mix goes up

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Second Covid-19 wave: Night curfew pushes Patiala biz to the brink

The hospitality sector, which was gradually picking up after the lockdown, is one among many that is feeling the heat

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SII, Bharat Bio seek central fund injection to ramp up vaccine production

SII, Bharat Biotech want to increase production to meet domestic, foreign demand

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Tata vs Mistry: Minority shareholders cannot claim board seat, says SC

The court has made it clear that Mistry Group is not a small shareholder and a board seat cannot be allotted to it contractually or by law

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Status check of PLI schemes that aim to make India world's factory

Last year, the govt introduced a PLI scheme for mobile phones, electronic components, critical pharma drugs and medical devices, which saw huge traction among global as well as Indian manufacturers

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Limited e-invoicing window a worry for small and medium companies

The e-invoicing system was first made mandatory for entities with a turnover of Rs 500 crore and above and later extended to businesses with Rs 100 crore or more on January 1

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Sebi's diktat puts institutional investors, fund houses in a fix

The latest regime directs companies to make investors' call recording public with transcription

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StarTek's digital play gets leg up with stake purchase in CSS Corp

StarTek, which has 18,000 employees in India and half of which caters to the Indian market, is also seeing growth in business

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ReNew Power plans to raise $575 million in green bonds this year

Such fundraising by Indian companies has hit close to $5 billion in 2021 so far

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Mumbai malls see 25% decline in footfall on fresh Covid-19 curbs

Night curfew to take away crucial evening business; cinema halls, malls, and restaurants to remain shut between 8 pm and 7 am

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Matinee to Rahasya, freshly brewed Indian spirits defy Covid pandemic blues

These new launches may seem surprising given that the pandemic has hit the alcohol industry harder than most other sectors, though there are signs of a recovery

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At $2.06 per dose, India pays the least for AstraZeneca Covid-19 vaccine

The price paid by different governments for a vaccine dose - including for the same vaccine - varies across countries, Unicef data shows

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Truck aggregator industry sees a tech-driven world accelerating its growth

The Deloitte study pointed out that in 1991, there was one driver per truck in India, but now at least one in four trucks (27 per cent) lies idle due to lack of drivers

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Statsguru: IBC mechanism ready to take up cases after a year-long hiatus

As many as 1,942 cases are currently going on under the Code (as of Septem­ber 2020)

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Sustainable bond issuance volumes of FIs, DBs to approach $300 bn in 2021

According to Moody's Investor Service, this expectation is based on the average annual rate of growth in green bond issuance since 2015

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We will make haste, but slowly: SBFC Finance founder & CEO Aseem Dhru

Backed by the Singapore-based Clermont Group and Arpwood Partners, SBFC Finance wants to redefine the play in lending to micro-enterprises

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Market in distressed assets may be huge, but deal-making faces headwinds

With the Supreme Court vacating the one-year breather on the filing of insolvency proceedings, it's back to the grind on the bad-loans front

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Govt may wait for clarity before announcing new foreign trade policy

The latest trade figures show that between April 2020 and February 2021, exports of merchandise and services stood at $439.64 billion

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Life insurers shell out Rs 2,000 crore as Covid-19 death claims, shows data

The amount paid as claims towards deaths caused by Covid is not yet alarming to the extent that it will impact the balance sheet or solvency ratios of companies

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Defending Sebi on Saradha scam

The CBI last week searched the residences of three officers of the Sebi in connection with the Saradha Ponzi scheme

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Passenger on SpiceJet flight tries to open emergency door mid-air

A passenger travelling on SpiceJet's Delhi-Varanasi flight tried to open the emergency door of the aircraft when it was mid-air, but was restrained by the flight crew and co-passengers, the airline said on Sunday. The passenger was later handed over to the police, it said. "On March 27, a passenger travelling on SpiceJet flight SG-2003 (Delhi-Varanasi) tried to open the emergency door of the aircraft in an abusive and aggressive state while the aircraft was airborne, the airline's spokesperson said in a statement. The passenger was brought under control by the flight crew with the help of co-passengers, he said. The crew immediately informed the captain who requested the ATC (air traffic controller) for a priority landing. "The aircraft landed safely in Varanasi where the said passenger was handed over to the local police by CISF and SpiceJet's security staff," the spokesperson added.

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Political culture

A country as diverse as ours needs a political culture rooted in constitutional values and political discourse based on truth, respect, civility, and restraint

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Borderline issues

Indo-Bangla bonhomie masks critical gaps

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Vindication for Tatas

Another legal battle over stake valuation must be avoided

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Strongly believe in India story, will continue physical expansion: KFC

US-based fast food chain KFC will continue to expand its restaurant network in India despite the coronavirus pandemic bringing structural changes in the business, believing the country to be a growth market in the coming years, according to a top company official. KFC India, which opened around 30 new restaurants last year during the peak of the COVID-19-induced disruptions, is looking at adding new outlets this year too as it looks to enhance access of the brand to its consumers. "Our intent is definitely to keep growing the brand. One of our biggest strategic pillars is what we call as access. We have to ensure that access to the brand continues to grow for the consumers, both physical and digital," KFC India Managing Director Samir Menon told PTI. Despite the COVID-19 disruptions, he said, "We actually have more restaurants now than we had in pre-COVID. During the course of the year, our franchisees have opened new restaurants. So we actually are a bigger business now than we wer

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Manappuram Finance looks to take MFI arm Asirwad Microfinance public

Manappuram Finance, the second largest gold loan company in the country, is toying with the idea of hiving off and taking its microfinance arm Asirwad Microfinance public within a year, a top company official said. With a loan portfolio of over Rs 5,360 crore and close to 25 lakh customers across 23 states, the Chennai-headquartered Asirvad is the fourth largest microfinance lender in the country in terms of the loan book. Founded in 2008 by S V Raja Vaidyanathan, Asirvad was taken over by Manappuram in February 2015 for Rs 48.63 crore. The V P Nandakumar-led company first bought 71 per cent stake which was later increased to 95 per cent and the rest is with the founder Vaidyanathan. Under Manappuram, Asirvad has grown leaps and bounds. From a loan book of just Rs 300 crore and a few lakh customers across 115 branches in Tamil Nadu, Kerala and Karnataka when it was bought over, the company has over 1,030 branches across 314 districts in 23 states (excluding Andhra Pradesh and ...

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Banks brace for fresh round of war against NPAs

As it prepares to bring to a close the most difficult year in history, the banking industry is gearing up to tackle a fresh bout of bad loans

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The absent voices of development economics

Development economics focuses on improving the well-being of billions of people in low-income countries, but the Global South is severely underrepresented in the field

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Mkts not fully factoring in risk of re-lockdowns: Lambregts & Eijkelenburg

We expect both core, but particularly headline inflation, to rise during 2021, yet this should be a temporary move only, say Rabobank economists

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From Nippon India to Mirae Asset, focus funds shine in market rebound

Most focused funds have exposure of around 50-60% in large-cap stocks, with the remaining between mid- and small-cap stocks

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Delhi sees 1,881 fresh Covid-19 cases; highest in three-and-half months

This is the highest number of cases since December 13 when 1,984 people tested positive for the virus, according to official data

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Win some, lose some: Nifty indices rebalancing likely to trigger churn

The Nifty Next 50 index, which comprises the top firms outside the Nifty50, is tracked by funds with assets of $500 million

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Street signs: Nifty at crucial juncture, Sebi's valuation norms, and more

The markets are undergoing a turbulent phase but metal companies seem in a bull market

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FMCG's premium valuation over IT sector likely to shrink, say analysts

Strong growth for the tech sector, margin headwinds for FMCG firms to tilt the scale in favour of the former, say analysts

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Learning to be flexible in a changing world

As India looks to solidify its position as a competitive global commerce hub, it is essential to deepen economic integration and lower trade costs. The key to achieving this is trade digitisation

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Anil Deshmukh: The man once wooed by Uddhav may face the axe this time

This is a fallout of the February 25 bomb scare outside Antilla, the South Mumbai residence of the Reliance chairman, Mukesh Ambani

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New bond offers must fit into your portfolio

Check if you need to invest in the asset class to which the bond belongs, then see if the bond has the right risk-return profile

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Assam witnessing fewer terror incidents in the last 5 years, shows data

According to the 2019-20 annual report published by the MHA, Assam witnessed 153 insurgency-related incidents between 2016 and 2019

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Battle royale between a more powerful LG and AAP govt appears inevitable

The National Capital Territory of Delhi (Amendment) Bill was passed by Parliament last week and is now awaiting the President's formal assent before it becomes a law

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Sunday, March 28, 2021

West Bengal polls: BJP faces stiff opposition over choice of candidates

Altercations over candidate selection affect the party's last-mile connectivity in West Bengal, writes Radhika Ramaseshan

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Saturday, March 27, 2021

Shekhar Gupta: The missing foreign bogey

Pakistan, Bangladeshis and terrorism are missing from BJP campaign. It seems to have understood the risks of mixing of domestic political motivations with strategic national interests

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The second wave: Many under-40s on long list of Covid-19 patients in Nagpur

The first part of a series on containment zones reports how Nagpur is coping with the rise in cases

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Mobile device makers press for 2021 as zero year under PLI scheme

Companies eligible for the scheme ask govt to invoke force majeure clause

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BS B-School Projects Award: Winners go off the beaten track for solutions

From staff attrition to manufacturing efficiency and health, the jury was impressed by the choice of subjects and the passion with which the students applied their analytical and research skills

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Investors should shun stocks with poor fundamentals, say analysts

Retail investors need to realise they have enjoyed a hefty dose of beginner's luck

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Suez Canal blockage likely to impact India's trade, say analysts

Great Eastern Shipping is still evaluating the impact, said a source close to the development

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Govt orders to prefer local medical devices, cut imports by Rs 4,000 crore

India is largely dependent on imports for medical devices, and ships in around Rs 42,000 crore worth of devices

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Cabinet may soon take up extending subsidy to BPCL after privatisation

LPG customers of state-owned OMCs with less than Rs 10 lakh annual income get cash subsidy through direct benefit transfer in their bank accounts

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Insurers see adverse claim ratio on Covid-specific health products

The regulator's two Covid standard products - Corona Kavach and Corona Rakshak - have covered more than 4.7 million lives

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Explained: How do the poor cope, struggle with road crashes in India?

More than 75% of poor households that were affected by a road traffic crash reported a decline in their income due to the incident

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GoAir's IPO plan in midst of Covid-19 pandemic flies in the face of logic

GoAir's IPO plan has been in the making for several years - this is reportedly the sixth such plan - but the pandemic has made it an imperative after the airline's bankers refused it further loan

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Apple considers launching 'rugged' smartwatch for extreme sports

The Cupertino, California-based technology giant has internally discussed introducing such a Watch variation later in 2021 or 2022 at the earliest

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Friday, March 26, 2021

BS Annual Awards: High-powered jury selects India Inc's best seven

Leading decision makers met virtually to pick the outstanding achievers

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Star MNC: Home appliances major Whirlpool makes a strong comeback

By expanding its product portfolio, adding new markets and widening its retail footprint, the home appliances major has emerged a clear winner

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Company of the year: The rise and rise of HCL Tech under CEO C Vijayakumar

With a focus on innovation and acquisitions, the $10 billion company has scaled up its presence in the global information technology services space

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CEO of the year: How KBS Anand planned Asian Paints' success in India

The lasting legacy of the Asian Paints chief, who retired last year, will be the diversification he undertook without hurting the core business

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Star SME: How Alkyl Amines Chemicals is tapping local, global demand

Large capacities and efficient use of capital have been key to Alkyl Amines Chemicals' profitable growth

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50% of our revenues will come from next-gen technologies by 2025: HCL CEO

If you look at HCL's history, we come from a product engineering background and over the years have created thousands of products for our customers, says HCL CEO Vijayakumar

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Zomato to Nykaa: India's unicorns face the m-cap test as IPOs loom

Investors have been tripping over one another to fund a host of Indian startups. Will the stock markets show the same enthusiasm when some of them launch IPOs this year?

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Startup of the year: Freshworks aims to become a $1-bn company in 5 years

Freshworks has set its sights on increasing revenue to over $1bn inthe next five years as it prepares to take advantage of the vast untapped SaaS market

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Despite Covid-19 pandemic, India Inc scripted a smart turnaround

Profit growth in the last two quarters has been one of the highest ever and recovery in earnings has been broad-based, rekindling hopes of a new cycle of growth for India Inc

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Finance Bill amendment eases Mauritius funds' path for India shift

Experts reckon up to 10 per cent of such funds could shift to the IFSC

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Enter constant maturity gilt ETFs with 5-year plan, say analysts

Conservative investors looking to lock in returns should opt for target maturity ETFs/index funds

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Top corporate houses pay 20% more tax this fiscal, shows CBDT data

HDFC Bank tops the list, followed by SBI

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Indiabulls, Edelweiss look to launch AIFs to advance realty loans

Edelweiss is also moving in the same direction after it sold developer loans to investors.

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Solar project companies queue up to cash in on pre-duty benefits

For a project bid in March, import of panels would take place between June and July 2021

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FinMin mulls bringing DPE under itself ahead of privatisation drive

Move aimed at better control over PSUs ahead of govt's ambitious privatisation drive

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ASCI aims to break gender stereotypes in advertising, change mindsets

The Advertising Standards Council of India (ASCI) is hoping to find an answer and help advertisers embrace positive depiction with a first-of-its-kind study on gender in advertising

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DFI goes back to the future: Will changes boost infra funding in India?

The Bill suggests that the government has learned from past mistake

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Telecom companies go all out to keep users glued to digital platforms

The ratio of daily active users as a percentage of monthly active users is a marker of customer stickiness

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Lifetime achievement award: Meet AM Naik, the Oracle of Indian engineering

A M Naik transformed L&T into an aggressive private sector company run by professionals, with a continuous focus on shareholder returns

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India Inc's earnings recovery signals double-digit growth in next 2 years

The latest trend is in sharp contrast to the sombre mood in corporate board rooms at the end of FY20, when India was in the middle of one of the world's most draconian Covid-19 lockdowns

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Riding on green fuel: Star PSU Gujarat Gas looks to tap new markets

Having become India's largest city gas distribution company, Gujarat Gas looks to tap new markets

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From Caterpillar to USV, here're top 30 unlisted companies in India

The list of India's best unlisted companies is dominated by the subsidiaries of US, European and Japanese MNCs

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DPIIT meet: Foreign vs Indian war of words over e-commerce FDI policy

The industry has been asked to send inputs in writing within a week to the government for further consultation

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Bottom-of-the-pyramid once again in focus

The coronavirus pandemic-led economic shock just shrunk the lucrative middle class market by 32 million people, according to a recent report by the Pew Research Centre based on the World Bank data

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Regulation by circulars?

The recent semi-public exchanges between Sebi and DFS raise several questions about the legislative function of regulators that need careful consideration

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Police-politician nexus

Allegations of impropriety in Maharashtra must be probed

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Normalcy restored for resolution of stress under IBC: IBBI's M S Sahoo

IBBI Chairperson M S Sahoo on Thursday said "normalcy" has been restored with respect to resolution of stress under the insolvency law, with the expiry of suspension of fresh proceedings. After a year of relevant provisions being suspended amid the coronavirus pandemic, fresh proceedings under the Insolvency and Bankruptcy Code (IBC) can now be initiated. Certain provisions under the Code, which provides for time-bound and market-linked resolution of stressed assets, were suspended with effect from March 25 last year in the wake of the pandemic significantly impacting business activities. The suspension, which was in place for one year, ended on March 24. IBBI (Insolvency and Bankruptcy Board of India) Chairperson M S Sahoo on Thursday said three things are clear now. "On Tuesday, the Supreme Court cleared the haze around moratorium on loans. Second, the suspension on initiation of corporate insolvency proceedings in respect of COVID-19 defaults expired on Wednesday. Third, the ...

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Welcome back, IBC

Govt should now focus on strengthening the NCLT

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NeoGrowth to raise Rs 500 crore, names Rahane its brand ambassador

The company, which lends to small businesses, mostly retail service units including shops, has assets under management of around Rs 1,350 crore

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Marico chief Harsh Mariwala is the EY Entrepreneur of the Year

Mariwala will represent India at the EY World Entrepreneur of the Year Award to be held in June

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Edelweiss Infra Yield Plus acquires Indian solar assets of France's Engie

Engie has close to 2GW of solar assets in India; Edelweiss Group has one of the country's largest Alternatives Platform.

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Jhunjhunwala bullish about state-owned banks, says they are undervalued

There will be run up in stock when government disinvests its stake, says investor.

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Thursday, March 25, 2021

Deals back for IT firms but shortage of skilled workforce a concern

According to an industry executive, attrition is likely to reach pre-Covid levels of 17-20 per cent as employees switch jobs.

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Durables firms fear slowdown in rural regions as Covid-19 cases rise

During unlock, most consumer goods makers, including durables majors, turned their attention to small towns and rural areas

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Retro changes to Google Tax will hurt foreign investment: Industry

The government widened the scope to impose 2 per cent tax on non-resident e-commerce players with a turnover of Rs 2 crore from April 1, 2020

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DPIIT set to take up e-commerce FDI policy with e-tailers on Thursday

The meeting, chaired by DPIIT Secretary Guruprasad Mohapatra, will also see participation of Reliance Jio, Snapdeal, Paytm Mall, and Swiggy

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Finance Bill: Asset distribution to partners will attract capital gains tax

Various courts and tax authorities have ruled both in favour and against imposition of capital gains in such cases.

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Rejig wage structure to benefit from EPF rule change, say analysts

If employer contribution is low, get salary restructured to enjoy higher tax-free interest

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Privatising small PSUs first not a good idea: NITI Aayog's Amitabh Kant

What is required is for unions to be convinced that the steps being taken are in their and the country's best interests, says Kant

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A regulator for health sector on lines of RERA likely to be set up soon

The survey cited unplanned readmission data - considered the most common metric of quality in the hospital setting

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Localising of internet: A peek into state-wise consumption of online media

The report is an illustration of the axiom that media is the most local of all products

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Banking on crisis management: Meet Gopinath, head of SEAC on bank licences

Ever-smiling, consciously low profile, and unfailingly polite, it is easy to mistake her for a family matriarch rather than a doyenne of high finance in India

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EV start-ups feel the spark of recovery, kick-start post-pandemic biz plans

Overall, the past year has forced the EV industry to think differently in terms of so­u­rcing components

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Covaxin manufacturing may get a booster shot as demand for vaccines grows

Bharat Biotech also has another site at Bengaluru that is currently making vaccines other than Covaxin

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Securing digital networks: NSDT to scrutinise wide range of telecom gear

Global telecom gear makers say that the new rule will make it difficult for Chinese equipment players to enter the Indian market.

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New 'double mutant' strain of Covid-19 detected in India: Health Ministry

The double mutant strain is a combination of two variants - E484Q and L452R - both of which have been present in India for the past few months separately

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Sebi orders attachment of former Yes Bank MD & CEO Rana Kapoor's assets

The decision has been taken after Kapoor failed to pay the fine imposed on him

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Gas-fired stocks to charge ahead as demand for cleaner fuels rises: Experts

Rising availability and demand for cleaner fuels will aid growth

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Supreme Court as change agent

Book review of Supreme Court

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The making of another storm

Evolving conditions in both domestic and international markets can materially increase policy complexities

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Searching for IDs

An exclusion list for selecting great independent directors

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Focus on pollution

NCR needs an effective regulator

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Increase vaccine supply

Govt must fast-track approval process, fix distribution issues

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GST technical glitches behind input tax credit frauds: CAG report

CAG recommended fixing a definite time frame for rolling out simplified GST return forms

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ICICI Bank enables customers to break high-value transactions into EMIs

ICICI Bank customers can break their high value transactions of over Rs 50,000 into suitable EMIs directly on its internet banking platform to make their purchases more affordable, the lender said on Wednesday. The facility is the first in the industry, the bank added. It will be applicable on transactions up to Rs 5 lakh and will bear no additional cost on the customers. Christened 'EMI @Internet Banking', the facility will enable customers convert their high-value transactions up to Rs 5 lakh into easy monthly instalments, ICICI Bank said in a release. Customers can purchase gadgets or pay for their insurance premium or school fees in easy EMIs from their savings account using the internet banking platform, it said. The bank has tied up with online payment gateways BillDesk and Razorpay to enable this facility. To begin with, over 1,000 merchants in categories like online shopping portals, insurance, travel, education- school fees and electronic chains have been brought ...

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Loan moratorium case: NBFCs want govt to refund interest on deposits

Iyer said the penal interest would add up only trite as NBFCs are typically small ticket loan suppliers

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Prestige Estates to take over $1.4-billion project from bankrupt firm

The court-appointed insolvency resolution professional Jayesh Sanghrajka declined to comment when reached by phone

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Fitch upgrades India's GDP growth to 12.8% for FY22

Fitch said revision is on the back of 'a stronger carryover effect, a looser fiscal stance and better virus containment'

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Wednesday, March 24, 2021

Health insurance claim rejection: Insurers may turn more cautious

Onus may now shift to them to justify rejection after Irdai's circular

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Supply slipping, Centre to speed up Covid-19 vaccine delivery to states

Vaccine makers asked to send more doses to central government on priority

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A year since India screeched to a halt, Covid-19 makes a comeback

Maharashtra recently recorded its highest single-day increase in fresh cases

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One year of lockdown: A roller coaster ride continues for India Inc

While the lockdown shaved off revenues in most sectors, with the exception of financial services and IT, the decline in profits was even sharper

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Looking back at lockdown: Second Covid-19 wave dims demand recovery hopes

After unlock, demand improved month-on-month till December, when it hit a speed-breaker

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One year of lockdown: Markets take leap of faith, m-cap hits Rs 2-trn mark

Sensex and Nifty doubled in less than 11 months, touching record highs, while several stocks jumped manifold

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Pesky calls and text messages: Trai may soon broadcast list of defaulters

The issue of pesky calls gathered steam a fortnight ago on March 9, when Trai suspended the newly-implemented norms for commercial text messages for one week

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IBC activity likely to see gradual rise after resumption, say experts

The CIRP, which was suspended in light of the Covid-related stress, covers a one-year period ending March 24, 2021

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West Bengal polls: Meet Ashok Lahiri, a catholic thinker in Hindutva's camp

If the BJP actually gets to form a government, Lahiri's name is at the top of several BJP lists for the post of finance minister

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Success of PLI scheme depends on how well Apple's India plans shape up

India is to be Apple's second significant global hub

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Despite price hike, Maruti Suzuki's margin may be hit in April quarter

Company can afford to pass on cost of increasing cost of metal prices, but investors will now put it under watch of analysts

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US proposes 18-mth delay in calculating prevailing wages of H1B visas

The proposed delay will provide the Department of Labour with sufficient time to consider the rule's legal and policy issues thoroughly

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Biden administration weighs $4 trillion in fresh economic spending

The price range does not include separate proposals to make child tax credits and other benefits to lower-income Americans

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Breezy summer ahead for consumer durables financiers, say analysts

Strong product demand is expected to drive loan book of lenders

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Increase RT-PCR tests, speed up Covid-19 vaccination: Govt to states

The states and UTs, where the proportion of RT-PCR tests is less, should increase it to reach the prescribed level of 70% or more

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Overhang looming on NCR residential real estate market, says ICRA

With unsold inventory surging to around 222 million sq.ft across 170,000 units and annual absorption plunging under 15 per cent

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Govt to sell up to 15% stake in Rail Vikas Nigam through OFS on Wednesday

The floor price for the sale has been fixed at Rs 27.50/ share.

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BJP releases manifesto for Assam polls, promises to work on 'corrected NRC'

BJP President J P Nadda, after releasing the manifesto, said that CAA would be implemented in Assam "when the time is right"

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Lockdown taught the poor atmanirbharta

Book review of Locking Down the Poor

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Building back worse

The UK urgently needs a dynamic, entrepreneurial mission-setting state to confront the triple crisis of Covid-19, rising inequality, and climate change

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In spite of the pandemic

The Budget for 2021 makes a fresh beginning in dealing with numbers and estimates

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A good glide path

AT1 bonds may lose sheen but Sebi takes the right call

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Judicious decision

SC judgment will end uncertainty in the banking system

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Religion and the workplace

In theory, religion plays no role at a workplace. However, in practice, it does

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ACME Solar plans to invest $2.5 billion in Oman green ammonia unit

ACME has a pilot at work in Rajasthan for producing green hydrogen and ammonia

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India's military set to get its own version of the iconic US Army Humvee

Mahindras will supply 1,300 of light-specialist vehicles for Rs 1,056 crore

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Loan moratorium: SC ruling clears overhang for banks, sets path for action

Liability seen at Rs 8,000 cr if govt does not foot the bill; more transparency expected, loan recoveries to start

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Jet Airways: Kalrock-Jalan consortium seeks task force on airport slots

The consortium has made this request in its affidavit before the National Law Company Tribunal

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Hero MotoCorp to increase prices by up to Rs 2,500 from April 1

The price increase across the range of two-wheelers will be up to Rs 2,500, and the exact quantum of the increase will vary on the basis of the model and the specific market

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Tuesday, March 23, 2021

Respond to Income Tax notice, or face recurring penalties: Experts

Provide documentary evidence, else officer could make assessment based on his judgement

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Rs 12,700-crore Mumbai coastal project taps new state-of-the-art technology

The massive project will involve digging a kilometre-long tunnel under the Arabian Sea - a first for India

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Nestle India digs deeper in the rural market, aims to grow business

The company's new-found enthusiasm for the hinterlands is founded on its appetite for growth

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Decoded: Why the industry is unhappy with amendments to mining law

The latest amendments come with the Bharatiya Janata Party-led central government opening up key sec­tors for greater private investment

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Peace and Pakistan

The besieged country looks for a breather

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Centre likely to float request-for-proposal for Air India privatisation

The treatment of liability of Rs 207 crore for wage arrears of employees working on narrow body fleet of the airline, will also be clarified

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One year on

Ravages of last year's lockdown may still affect economy

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Pimco stops participating in bond offerings of Adani Ports & SEZ

Existing holdings to run till maturity; Australia coal project key factor

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Hinduja Group launches new Berryllus Capital wealth advisory JV

The UK-headquartered Hinduja Group on Monday announced the launch of Berryllus Capital, a new joint venture (JV) focussed on investment management, investment banking and real estate advisory for ultra-high net worth families around the world. The new JV with NASDAQ-listed Focus Financial Partners Inc, a leading partnership of independent, fiduciary wealth management firms, is dubbed a multi-family office that will cater to some of the most prominent families in the world through offices in London, Geneva and Singapore. The firm will provide advice and integrated strategies for managing client investments, philanthropic endeavours and legacies. We are partnering with great optimism on Beryllus Capital with Focus Financial Partners, said G.P. Hinduja, Co-Chairman of the Hinduja Group. "This is an important strategic alliance. Beryllus Capital will address the bespoke needs of ultra-high net worth families on a global scale, with outstanding professional and governance standards, he .

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Need legal provisions to have superintendence, control over NCLT: NCLAT

According to RP, a resolution plan is pending approval before the Delhi bench of NCLT since 2019 and the matter has been adjourned as many as 18 times.

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Delhi reduces legal drinking age to 21 from 25; restaurateurs cheer move

Lowering the minimum age from 25 will lead to an estimated 20 per cent rise in liquor consumption

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Jeh Wadia steps down as GoAir MD, Ben Baldanza made vice chairman

Jeh Wadia will continue to be part of the airline's board, said the company that is planning an initial public offering (IPO)

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Restructuring will make us stronger after Covid: Coca-Cola India chief

Sanket Ray talks about a massive global restructuring that Coca-Cola is undergoing amid Covid-induced disruptions

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Maruti to hike prices from April 1, other firms may follow as costs rise

India's largest carmaker will make a second round of price increase since January

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Monday, March 22, 2021

Govt considers blocking IP addresses of cryptocurrency exchanges

Two months ago, the government had said it intended to bring a Bill to ban private cryptocurrencies and introduce India's own digital currency in line with what China and other countries had done

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GAIL set to kick off asset monetisation in oil sector by end of 2021-22

InvIT to be floated by the end of next fiscal year

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Centre targets global majors for semiconductor fabrication plants

MeitY draws up list of potential players

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Edelweiss arm looks to launch new credit funds in 2021 to tap demand

The short-duration credit fund, which will be an alternative investment fund, targets to raise Rs 2,000 crore

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Used car market sees a continued interest from buyers amid Covid-19

2020 saw incremental growth for 1st-time car buyers, category up 3% for Maruti

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India's public finances and private sector at taper tantrum risk

India is the third most indebted country among major emerging markets, behind Argentina and Brazil.

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NHAI turns down NITI Aayog's request to expand monetisation portfolio

Says call on monetising projects taken by independent investment manager

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Foreign trade policy 2021-26 to focus on MSMEs, new export potential

Online data will be available to govt, industry; will help domestic producers analyse market potential for goods

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Steel rising in the east: JSW, AM/NS India waiting to set foot in Odisha

Two steel majors will be expanding their presence in the iron ore-rich region just as global raw material prices touch new highs

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Paytm bets big on IoT-driven devices to ease acceptance of payments

Voice-activated point-of-sale machines that work on a SIM card are a hit among small shopkeepers

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Industrialist Sanjeev Gupta in controversy as Liberty Steel struggles

The Ludhiana-born British Indian's GFG Alliance, Britain's third-biggest steel company, employs 35,000 people from the United Kingdom to Australia

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Banks face tech resilience test as Covid-19 boosts digital services

Between April 2020 and January 2021, mobile banking transaction volumes doubled to 39 million, while internet banking transaction volumes grew 60 per cent to 7 million

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Best of BS Opinion: Cannabis is no longer 'dangerous', gold loan, and more

Here's a selection of Business Standard opinion pieces for the day

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Transfer NPAs to bad bank at book value, says Parliamentary panel

The panel urged the Reserve Bank of India to clearly define every step of the procedure to remove any ambiguity or discretion from the banks' side

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At 1.33 mn, January net addition to payroll highest in FY21, shows data

The increasing number of Covid cases and reimposition of some restrictions in a few states of the country, particularly Maharashtra, may have an adverse impact on the numbers going forward

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Covid-19 testing not enough as cases rise: Govt sounds Kumbh caution

India recorded the highest single-day spike since late November of over 43,000 Covid cases on Sunday

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LG Electronics likely to shut mobile phone business, says report

LG may share its decision on the business' fate with employees as soon as early April, the DongA report said

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Saudi-led jets strike Yemen rebel sites after Aramco hit: Report

The escalation is liable to hinder U.S. efforts to end the seven-year war in Yemen, which has created the world's worst humanitarian crisis, with widespread famine and disease.

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Cannabis is no longer 'dangerous'

In India, cannabis has historically been grown and consumed for recreational, culinary, and commercial purposes.

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Is global turbulence likely?

The US Fed has learned from the "taper tantrum", and will carefully choreograph words and deeds in the coming years

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Et tu Ashoka?

A pioneer in liberal education takes a hard knock

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Increasing policy challenges

RBI should not digress from maintaining price stability

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Will gold loan lose its sheen?

In August 2020, when RBI raised the LTV for gold loans to 90 per cent, effective till March 2021, gold price was at a record high. It's time to pare the LTV for de-risking the lenders

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Covid-19 accelerates firms' digital transformation strategy: Report

89.7% of business and IT leaders in the Asia Pacific say Covid-19 has caused significant changes to their operating processes

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Get ready to work with robots in the kitchen

Emerging new technologies are bringing deep changes in the way food is prepared, stored and disposed of.

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A state in transition: Uttar Pradesh's economy scoreboard under Adityanath

In 2020-21, UP emerged the largest economy after Maharashtra, up from fifth position during 2019-20 and ahead of Tamil Nadu, Gujarat, and Karnataka

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Data discrepancy obstructing rehabilitation of manual scavengers

Govt introduced the Self Employment Scheme for Rehabilitation of Manual Scavengers (SRMS) in 2007 to aid the rehabilitation of 'former' manual scavengers transitioning to other occupations

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India-Bangladesh relations stand on a different level, says Veena Sikri

Sikri explains why China's growing overtures towards Bangladesh won't affect its ties with India

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Buyer entitled to refund upon delay

The purchaser can't be made to wait endlessly just because the builder fails to fulfil his contractual obligation to obtain the Occupancy Certificate on time

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Working behind the scenes: BJP's lesser-known go-getters in West Bengal

Barring exceptions, the "go-to" men are rooted in the Rashtriya Swayamsevak Sangh and its student front, the Akhil Bharatiya Vidyarthi Parishad (ABVP), and have since moved to the BJP organisation.

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Divestment target will be overachieved by a wide margin: Sunil Singhania

CY20 was a unique year that witnessed one of the sharpest falls in the markets in recent years and an equally sharp recovery, says Singhania

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Overall exposure of debt mutual funds to NBFCs below 10%: CARE Ratings

The amount held fell to Rs 0.72 trillion, compared with Rs 1.26 trillion in September 2018

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SBI Magnum Medium Duration Fund: Active management of credit risk, duration

The fund maintained modified duration in the range of 1.7 years to 3.7 years during the past 3 years, averaging 3 years

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Fractional ownership is for deep-pocketed investors, say analysts

Most retail investors will be better off opting for a REIT

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Street signs: HNI IPO bets on thin ice, lapse in rights entitlement & more

At a fund house level, more than 10 per cent of assets can be invested in perpetual bonds of a single issuer

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Saturday, March 20, 2021

Shekhar Gupta: A new case for peace with Pakistan

If India thinks it's caught in an awful two-front situation, the picture is more challenging for Pakistan. It can continue fighting India and become a protectorate of China

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Cash-rich companies may step up payouts to shareholders: Analysts

Bajaj Auto will distribute up to 90 per cent of its annual profit as dividend

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Maruti Suzuki, Tata Group, M&M warm up to vehicle-scrapping units

Companies in talks on joint ventures and exploring tie-ups with suppliers

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Scrapping policy will depend on integrity of fitness centres: R C Bhargava

The policy statement for the first time recognises that there is a need to ensure that vehicles are fit for continued use, says Bhargava

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Vehicle scrapping policy: Experts say scheme not sales bonanza for firms

Actual number of vehicles available for scrapping 'a fourth of govt estimates'

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RuPay set to expand credit card business in India, take it to masses

Introduced 9 yrs ago, the indigenous card payment network has cornered a sizeable market share, thanks to govt push

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Succession planning: Will easy to make, but Trust more robust, say experts

UHNIs should make succession planning top priority

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Xiaomi looks at a possible entry into the electric scooter, cycle market

Known for its phones and emerging from nowhere in the segment, it might take on the scooter Goliaths

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Decoded: What is a cryptocurrency and how does a blockchain work?

It's a virtual currency. Every crypto-coin is a unique code, like the serial number on a banknote

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Family offices continue to gain momentum in India after Covid-19 disruption

Conditions have become even more favourable for such institutions to grow in India after the Covid-19 disruption

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ITC gains on FMCG growth, branded food segment may help firm next

Company's FMCG business to increase from 25 per cent of revenues in FY20 to 30 per cent in FY23, say analysts

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Oil prices edge higher after sell-off driven by demand concerns

Brent crude was up 31 cents, or 0.5 per cent, at $63.59 a barrel by 8:20 pm (IST)

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IGST on intermediaries: Gujarat High Court admits a petition to review

When IGST is levied on inter-state transfers within India, it is imposed on service providers

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Are hashtags really political ads?

A "hashtag" makes for "highly-polarised political narratives", opined a panel set up under an ex-IRS officer, Harish Kumar, to review poll expenditure limits and expenditure monitoring mechanisms

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In bad taste

What appears smart may not necessarily be sensitive. A tweet by Burger King UK on International Women's Day touched a raw nerve. It employed language that is usually characterised as misogynist

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Tamil Nadu's manifesto destiny

Tamil Nadu is known for politics of welfare: Many like to call it winning elections by offering freebies

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The Emergency's legacies

The authoritarian streak in Indian politics had been growing long before 1975 and its influence may have actually increased, the authors of an authoritative book on this seminal period suggest

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Will supply more doses of AstraZeneca vaccine to UK later, says Serum

Senior officials in New Delhi confirmed that there was no ban on exports from India, and no plans to do so either.

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The Quad might have finally found a mission amid Covid-19 pandemic

The Quad's priority should be the same as the rest of the region's: promoting growth and development that is healthy and less dependent on China

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Future shock: New rules needed for the new world, but who will write them?

How should personal data be used and not used? What about the disintermediated media that has teamed up with Big Tech to re-invent politics by spreading post-truth and hate mail, wonders T N Ninan

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TataMo stares at empty corner office again; Llistosella to not join as CEO

With just three months left before Guenter Butschek demits office, it will be tough for the company to find his successor

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Domestic flying to cost more as govt raises minimum fares by 5%

'There has been a continuous rise in the price of ATF so it has been decided to increase the lower fare band by 5 per cent keeping the upper fare band unchanged,' says civil aviation minister

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Friday, March 19, 2021

DFI bond subscribers to get tax reimbursement from Centre's Rs 5K cr grant

The Cabinet on Tue­s­day approved the Bill to create the government-promoted DFI

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Alarming uptick in Covid-19 graph stokes traders' fears in bond market

The Indian bond market, which has been following the rise in US yields of late, should be able to temper its demand for higher yields

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Swift, nifty, Maruti Suzuki's latest stands out in the small car segment

The fourth-gen hatchback blends user friendliness and practicality to serve up a value proposition

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Mumbai hospitals stare at bed crunch amid spike in Covid-19 cases

As Covid cases rise, pvt hospitals say situation could get critical in 2 weeks if momentum continues

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Centre may sell stake in Rail Vikas Nigam through OFS this month

In October 2020, the government had announced it would sell its 15 per cent stake in the company

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MCA21 Version 3.0: Govt's automated system to keep an eye on firms

The centre will issue warning if it detects suspicious practices

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Secured loans may help you tackle tighter credit norms, say experts

Presence of collateral allows lenders to relax their criteria while sanctioning of these loans

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Airtel Africa explores listing mobile money business in four years

TPG Rise Fund to invest $200 mn in the brand

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Second wave of Covid? From Tanishq to Panasonic, India Inc says we're ready

Firms say lessons have been learnt, ops reconfigured and supply chains adapted

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Seizing Indian assets won't be easy for Cairn Energy, say experts

Experts say enforcement of the award will face a passive hurdle in Article V of the NY Convention

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From Andhra Pradesh to Uttar Pradesh, state bureaucracy becomes top heavy

The bloated numbers at the top have reduced the efficiency of state administrations, both for maintaining law and order and to have development works reach the people

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Stop the wave

Govt must act swiftly to contain the Covid surge

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Jio, Airtel, Voda Idea make Rs 21,916 crore upfront payments for spectrum

The telecom department had issued demand notes to the three operators on March 8, and the deadline for making the upfront payment was Thursday

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US bond yield spike, rising Covid-19 cases in India drag indices

The index rose close to 500 points on opening after the US Federal Reserve (Fed) pledged to shrug off inflation worries for a while and keep the monetary policy loose through 2023

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Corporate affairs ministry investigates irregularities at Edelweiss ARC

Its shares were locked in the 5 per cent lower circuit on the BSE on Thursday at Rs 80.20 following reports of the probe

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Skoda hitches a ride on mid-size SUV Kushaq to drive up India volumes

Czech carmaker eyes 6x jump in volumes by 2025

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India, US and climate change

Can India achieve net-zero carbon emissions by 2050?

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GoAir plans to add new routes ahead of IPO, looks to hire senior executives

The airline currently operates 37 of its total fleet of 53 Airbus A320 aircraft

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Google to invest $7 billion in US offices, data centers this year

The investments would create at least 10,000 new full-time Google jobs, Chief Executive Officer Sundar Pichai said.

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FM promises safeguards; Rajya Sabha passes Bill to hike FDI in insurance

Bill provides that no insurer shall invest policyholders' funds outside India, says government

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SC approves SBI MF plan for Franklin Templeton schemes

The six shuttered schemes have already distributed Rs 9,122 crore to investors

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Thursday, March 18, 2021

High economic growth will spare India from debt trap, say experts

Finance panel had indicated that total debt could touch 90% of GD

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Direct tax mop-up betters estimate for the first time in four years

With the payments of the last instalment on Monday, advance tax collection for FY21 was around 7 per cent higher than last year's

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More banks likely to join RBI's list of 'systemically important banks'

Move result of change in pecking order post-mergers

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Health cover: Irdai rule gives consumers more freedom, say experts

Barring insurers from raising prices by adding benefits may also lead to better pricing: Experts

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March-end forward premia jumps as banks convert dollar for rupee

These transactions happen through swaps, in which banks sell dollars on the spot market and buy dollars in the forwards in April

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NSE co-location case: ED investigation likely to conclude next month

Widens ambit to also look at the recent technical glitch that halted NSE trading for hours

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Budget proposals will ease taxpayers' burden from April 1, say experts

But changes like taxation of EPF contributions above Rs 2.5 lakh will pinch the wallet

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Men or women, who owns TV remote? A study busts popular viewership myths

An unreleased study busts popular myths around television viewership

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Land monetisation lessons: Canadian firm could be model for unlocking land

In the Union Budget, Finance Min­i­s­ter Nirmala Sitharaman had outlined the government's intent to monetise surp­lus public lands by way of direct sales, concessions or other means

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India Inc braces for more price hikes as commodity inflation bites

Durables, automotive, realty sectors hit hard by rise in input costs

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Govt invites EoIs by April 30 to set up display fabrication units in India

According to experts, the technology is held by a select few companies in China, South Korea, Taiwan, and Japan

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Fewer bureaucrats opting for Centre at senior management grades, shows data

It has been matched with an explosion in the number of officers of the same cadres posted to the states.

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Ola Electric's high-stakes ride: Can Aggarwal disrupt India's EV market?

By setting up massive capacities in a limited market against entrenched competition, founder Bhavish Aggarwal has his work cut out proving the sceptics wrong

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Making a show of outrage, once again

The controversy over Bombay Begums makes one thing clear: India desperately needs transparent regulation for streaming services

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Enact law to make Facebook, Google pay for news: BJP's Sushil Modi

Rajya Sabha Chairman and Vice President M Venkaiah Naidu remarked that the suggestion is "worth considering"

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Vodafone Idea posts first subscriber addition in 15 months: Trai data

Vi's active user base stood at 256.3 million users, which is 89.63 per cent of its total base

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State of the capital

Bill enhancing Delhi LG's power debases electoral democracy

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The right policy cart

E-commerce rules should be stable and equitable

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Oyo's India business Ebitda-positive: Founder & Group CEO Ritesh Agarwal

India business is EBITDA positive. It has achieved EBITDA break-even from December 2020 and is growing month-on-month

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'Paper'ing over the cracks - Part 2

Shareholders who expect value from IDs should ask Boards and managements whether the compensation presently given to IDs is adequate, having regard to their role

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Former Jet Airways CEO Vinay Dube plans to launch a new airline in 2021

Dube has teamed up with his airline colleagues Praveen Iyer and Nikhil Ved for the venture and has held talks with aircraft manufacturers Airbus and Boeing

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Federal Reserve likely to forecast biggest economic boom in a generation

Markets predict the Fed may be forced to act sooner than expected

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Domestic air traffic sequential growth slows down to 1.2% in February

Domestic air traffic has been growing in double digits since August and pace slowed down in January

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Wednesday, March 17, 2021

The repo in corporate bonds is slowly picking up pace, shows data

Rates offered at par or lower than RBI's repo rate

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Ola Electric plans to set up Li-ion battery plant, invest Rs 2,400 crore

Ola will initially source the cells for the Li-ion battery used in its soon-to-be-launched e-scooters from South Korea

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AT1 cloud likely to hit banks' capital-raising plans, say experts

They have planned to raise about Rs 30,000 crore through this route

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DFI employees may get shield against 'ill-informed' probe, prosecution

The government expects the DFI to finance a large percentage of the Rs 115-trillion spending needed for the National Infrastructure Pipeline

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Mutual funds net sellers of Indian equities first time in 7 years

FY21 net selling of Rs 1.27 trn is highest in a fiscal year

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We have Covid vaccination data for any post facto verification: R S Sharma

The only problem we have now is that hospitals don't follow the system of vaccination many times, says Sharma

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With Covid-19 cases on the rise, demand to allow vaccine for all grows

Maharashtra, Bengal, Tamil Nadu argue in favour; may be discussed at PM's meeting with CMs

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High demand in luxury car market will sustain: Mercedes India CEO Schwenk

We think these new products drove in customer confidence into the brand and our customers appreciated this momentum, said Schwenk

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Switch home loan if you can reduce cost by at least 50 bps: Experts

Don't go by the lowest advertised home loan rates; find out what you are eligible for

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Office space supply in the top metros likely to drag down absorption

Supply may be double of demand by fiscal 2022-2023

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Explained: What are perpetual bonds & why have new Sebi rules irked FinMin?

Sebi's new rules around mutual fund (MF) investments in these bonds have kicked up a storm

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How Indian Bank-Allahabad Bank amalgamation proved an unlikely success

The merger was complicated by the fact that the government had not allowed post-merger lay-offs for any of the banks under this process

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India emerges global manufacturing hub for Covid-19 vaccine Sputnik V

Gland Pharma to make 252 mn doses, Hetero 100 mn doses, Strides may also join the fray

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Encrypted messaging app Signal blocked in China; UC browser removed

Users in China said Tuesday that they could not get the app to connect without a VPN service

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Where China is only a notch above India

India is at the very bottom of the health and survival sub-index. The performance continues to be undermined by the abnormally low sex ratios at birth in India

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AstraZeneca's Covid-19 vaccine's benefits outweigh risk, says EU regulator

Europe's Covid-19 toll surpassed the grim milestone of over 900,000 deaths.

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Xi Jinping warns against tech excess in sign crackdown will widen

China's market regulator on Tuesday tightened scrutiny over the country's booming livestreaming e-commerce platforms

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threatens to fully block Twitter as content dispute escalates

Twitter hasn't responded to the Russian regulator's repeated requests to remove illegal content

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Vaccinating India: What next?

We must pull out all the stops to win the race against the virus. And trust each other to do the right thing

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SC right to protect IBC

Back door for promoters to retain control closed

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Valuing AT1 bonds

A sudden change in the metrics will be disruptive

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Google's Nest adds sleep tracking in new health technology foray

The company unveiled the second-generation model of its Nest Hub smart display in a blog post Tuesday

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First tri-service missile gets underway with roll-out of MRSAM components

The MRSAM has been developed for the army, navy and air force by DRDO, in close partnership with Israel Aerospace Industries

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'Paper'ing over the cracks

Independent directors - cats on a hot tin roof

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FM hits back at Rahul's comments, says UPA 'privatised taxpayers money'

Govt will protect the interests of employees in plans to sell state-owned companies, says Finance Minister

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Tiger Global-backed brokerage Upstox to sponsor Indian Premier League 2021

Tiger Global-backed online brokerage Upstox will sponsor the Indian Premier League starting April 9

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Tuesday, March 16, 2021

TCS looks for talent on the cloud, to create an algorithm-based marketplace

Firm has reimagined its HR strategy with a clear focus on skills

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SP Group in talks to raise Rs 4,000 crore from SSG Capital, others

SP Group owns 18.5 per cent stake in Tata Sons, which is estimated by the group as being worth Rs 1.75 trillion

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NEP 2020 to be more impactful if it prioritises critical thinking

If schools want to promote critical thinking, they will have to view students as intelligent beings whose learning is not restricted to the classroom

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Sebi may tweak AT1 bond rule, looks for middle ground on valuation

Sebi is considering the alternatives with credit-rating agencies, fund houses, and ministry officials

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Success of Railways' asset monetisation plan can offer template for others

Critical contractual changes may help the long delayed plan to redevelop New Delhi Railway Station finally get off the ground and offer a template for similar projects

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Expect top-line growth to return from March quarter: ICICI's N S Kannan

We were an 82 per cent ULIP company but today we are at 48 per cent. So, we have been able to transform the product mix, says Kannan

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Hold on to sovereign gold bonds as prices may rebound, say experts

Premature withdrawal results in taxation of capital gain, while corpus received at maturity is tax-free

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Covid-19 insurance claims spike as infection cases surge in March

Insurers have received 938,640 claims, of which 796,247 have been settled

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Foot in the door, BJP pushes hard for upcoming West Bengal Assembly polls

BJP's battle for Bengal got serious after 2016, when it increased its vote share from 4.06 per cent to 10.16 per cent and won three seats

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Amid pandemic, auctioneers paint a profitable canvas with hybrid auctions

Digital sales increase turnover for auctioneers - for some, by 20 per cent

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India Grid to raise Rs 2,500 cr via NCD to recast debt, acquisitions

The major shareholders in IndiGrid are KKR & Co. Inc and its affiliates (23 per cent) and Singapore's GIC and its affiliates (20 per cent)

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Germany, Italy, France hit pause on AstraZeneca amid safety fears

The moves by some of Europe's largest and most populous countries will deepen concerns about the slow rollout of vaccines in the region

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Parl panel questions legality of new rules for OTT, social media platforms

Some members of the Parliamentary Standing Committee on Information Technology on Monday questioned the legality of new rules framed by the government to regulate OTT and social media platforms. Tightening the rules governing social media and streaming companies, the Centre had announced last month the Intermediary Guidelines and Digital Media Ethics Code applicable on WhatsApp, Facebook, Twitter, Netflix, YouTube and Amazon Prime Video among others. Top officials of the Information and Broadcasting Ministry and the Ministry of Electronics and Information Technology on Monday deposed before the parliamentary panel on "intermediary guidelines in the context of examination of the subject review of functioning of Central Board of Film Certification." The panel is chaired by senior Congress leader Shashi Tharoor. Some members and the chairman asked a number of questions to the officials like whether these rules are in conformity with the legal framework, sources in the panel said. MPs

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IMF research shows top firms becoming more dominant during Covid pandemic

Key indicators of market power are on the rise, including price markups over marginal costs, and the concentration of revenues among the four biggest players in a sector, the IMF study said

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Covid: Maha govt announces stricter norms for hotels, cinema halls, offices

Nobody will be allowed inside these establishments without wearing a mask and a temperature check, the state govt said

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PM Modi to interact with CMs on Covid situation on Wednesday: Report

Modi's last interaction with chief ministers was in January before the vaccination roll out

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Tata Communications OFS opens Tuesday for institutional investors

The sale of 16.12 per cent stake could fetch the government around Rs 5,334 crore.

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'Mank' leads Oscars nominations with 10; 'Minari', 'Nomadland' follow close

The Netflix Inc. movie about 'Citizen Kane' writer Herman Mankiewicz received 10 nominations, including best picture, best director for David Fincher and best actor for star Gary Oldman

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Hero Future Energies to hit int'l bond market, use funds for India projects

Renewables company will use its Mauritius SPV, subscribe to Indian rupee-denominated external commercial borrowing

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Monday, March 15, 2021

Price talks on Russia's Sputnik V Covid-19 vaccine yet to kick off

Rs 150/dose not ceiling price; cost to be fixed individually

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Concerns over Oxford Covid-19 vaccine likely to impact export demand

Vaccine exports picked up last month; Serum shipped 11.9 mn to WHO-Gavi pool

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From Marriott to MakeMyTrip, hotels and travel firms look for summer relief

Most hotels expect a marked improvement in the June quarter numbers compared to the December quarter

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Global investors flock to private debt space, expect huge demand for credit

Private debt means debt given to privately held companies or buying those loans in the secondary market

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Asset monetisation target for states may be set at Rs 3 trillion

Central ministries given a target to monetise assets worth Rs 2.5 trn over 3 years

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Aditya Birla Fashion shakes up India's Rs 1.45-trillion ethnic wear market

Aditya Birla Fashion, which has acquired Sabyasachi, Tarun Tahiliani, and Shantanu & Nikhil brands in recent transactions, proposes to take these names to a wider audience

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Govt should earmark 10% of CSR for skill development: L&T's A M Naik

Large industries do not have to collaborate with NSDC or government organisations because they have created training centres, says Naik

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Draft e-commerce policy: Investments by large players may take a hit

Currently, online retailers such as Amazon and Flipkart are the dominant players in this space, capturing around two-thirds of the market share, experts said

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Investors see more sheen in paper gold this year amid lower prices

So far, FY21 has seen sale of 32.4 tonnes worth of sovereign gold bonds and 13 tonnes of exchange-traded funds

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Resolution of bad loans may face logjam if IBC not streamlined: Experts

Few will go on record explicitly, but there is the fear that there will be a logjam ahead on the IBC front.

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Don't compare us with legacy banks: Aeldra Financial's Sukeert Shanker

We want to be the first truly global consumer bank. Some banks have an international presence, but continue to be country-bound on the consumer side, says Shanker

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For 49% consumers, e-shopping became preferred mode during Covid: Survey

18 per cent said they "called local retail stores and got home delivery" and 31 per cent "visited the mall, local retailers, markets and shop there."

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Statsguru: From Bihar to West Bengal, a peep into state Budgets

To keep their expenditure at the desired levels at a time of significant revenue losses, all states have expanded their fiscal deficits - similar to what the Centre did last month

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Quest for the best deal: What India's draft e-commerce policy says

Apart from China, India is one of the few countries that has specific regulations targeted at online sellers

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14 protesters, one police officer killed in Myanmar unrest, says report

Martial law was imposed in Hlaingthaya and another district of Myanmar's commercial hub, state media announced.

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US stimulus effect to be felt beyond its shores

The package takes pandemic-related spending in the US to over $6 trillion since the start of the crisis.

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Google must face suit over snooping on 'Incognito' mode browsing

The ruling comes as Google and Apple Inc. face intense scrutiny by lawmakers over their data gathering practices

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China fires back at UK govt charges of Hong Kong treaty violation

The statement came after UK Foreign Secretary Dominic Raab on Saturday said China is in a "state of ongoing non-compliance"

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One Belt One Road project stalls as China's economy fights out Covid-19

'20% projects seriously affected, 30-40% adversely impacted'; new investments cut back

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Mamata Banerjee's injuries not result of attack, says EC; IPS suspended

The TMC said on Sunday it disagrees with the Election Commission's observation that there was no pre-meditated attack on Mamata Banerjee in Nandigram

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Bank credit is seen growing by 400-500 bps to 9-10% in FY22: Report

In absolute terms, net credit was up Rs 2.3 trillion in the first nine months of the current fiscal year.

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NSE outage: More serious questions

The outage caused a serious embarrassment, not only for the NSE but also for the Securities and Exchange Board of India (Sebi) and the government of India

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No space for SPACs

Sebi needs to ease listing requirements

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Managing internet tech change wisely

Learning from past technology revolutions

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Beyond 'Indo-Pacific Nato'

Vaccine cooperation marks a new step for the Quad

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Privatisation of banks: The sequencing must be right

It would be naïve to read the recent Union Budget announcement on privatisation of two public sector banks as a signal of the government's intent to altogether exit the banking sector. That is not goi

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EPFO's accounting needs transparency jab

The EPFO is larger than four of the largest mutual funds put together, yet it has opaque accounting practices with no portfolio disclosure even at year-end

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When will SC status quo on bank loans end?

If it continues, wary of borrowers' opportunism and distorted credit discipline, banks may not come forward to lend even if we shout ourselves hoarse over their risk averseness

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Analysts see demand revival, earnings comfort in Indian Hotels stock

Analysts also expect IHCL to maintain a valuation premium to peers due to its strong brand, which would aid pricing and occupancy levels

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Over 50% PMS schemes outperform Nifty50 in February, shows data

Large-cap PMS schemes (average returns of 4.9 %), mid-cap (9.8%), multi cap (7.1%), and small-cap (8.9%) - all underperformed their respective category benchmark indices

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India's low score on GVC a starting point for recovery from pandemic: AIIB

India rated 7.4 percentage points below the average global value chain participation rate for emerging economies from Today's Paper ht...