Business
High Attrition Keeps Private Banks On Their Toes
MUMBAI: The attrition at private banks has been high in recent years as the workload of employees has increased. Additionally, intense competition from fintechs and new-age lenders has also led to poaching of employees, said experts. At a recent public event, Reserve Bank of India (RBI) Governor Shaktikanta Das...
India Moves To Elite Club Of Nations As MCap Tops $4 Trillion For First Time
MUMBAI: India joined an exclusive group of countries that includes the likes of the United States, China, and Japan after its market capitalisation (mcap) hit the $4 trillion mark on Wednesday. Total market value of all companies listed on the BSE during the day increased by Rs 2.24 trillion,...
Corporate Bond Issuances Rebound In November As Market Gains Stability
MUMBAI: Corporate bond issuances rebounded in November following a decline in October as the market gained certainty after the US Federal Reserve adopted a dovish stance, according to market participants. In October, fundraising through corporate bonds experienced a 40 per cent drop, primarily driven by an increase in the...
Cabinet Approves ‘Terms Of Reference’ For 16th Finance Commission
NEW DELHI: In a departure from convention, the Union Cabinet late on Tuesday approved the terms of reference for the Sixteenth Finance Commission (SFC) without revealing the names of its chairman and members. Announcing the decision on Wednesday in a press briefing, Information and Broadcasting Minister Anurag Singh Thakur...
IRDAI Ups Scrutiny Of Broking Deals, Approvals Take Longer
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) has increased scrutiny on the ultimate beneficiaries in the transfer of shares within the insurance broking sector. This increased diligence has led to an extension in the approval timelines, with the three-four month period stretching (on average) to beyond...
World Economy Will Slow In 2024 Because Of Inflation, High Rates, War: OECD
The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. The Paris-based Organization for Economic Cooperation and Development estimated Wednesday that international growth would slow to 2.7% in 2024 from an...
India Inc Looking To Recruit Talent With ‘Green’ Skills
NEW DELHI: Indian companies are increasingly looking to hire people who can help improve their green credentials. Four of every five Indian business leaders who took part in a survey conducted by IBM and decision intelligence company Morning Consult, said they will hire people with expertise or experience in...
16th Finance Commission Being Set Up With “Generic” Terms Of Reference
NEW DELHI: The 16th Finance Commission (FC) may be urged to consider incentives for improvement in debt consolidation and quality of expenditure, issues which were considered by the 15th FC too, though it did not assign any specific weights to them in either in the criteria for tax devolution...
Govt Has No Plan To Dilute Stake In Vodafone Idea For Now
NEW DELHI: Nine months after converting the dues worth Rs 16,133 crore of Vodafone Idea payable to the government on account of spectrum fee, into equity, the department of telecommunications (DoT) has asked the department of investment and public asset management (DIPAM) whether some portion can be offloaded in...
‘China Slows, India Grows’: S&P Pegs 7% Growth For India By 2026
NEW DELHI: India’s GDP growth rate will rise to 7 per cent by 2026 compared to 4.6 per cent for China, S&P Global Ratings said on Tuesday. In a report titled ‘China Slows India Grows’, S&P said it expects Asia-Pacific’s growth engine to shift from China to South and...
Tata Betting Big On High-Resolution Imagery Satellites For Military
NEW DELHI: Tata Advanced Systems Ltd (TASL) has set up a facility to manufacture high-resolution imagery satellites that will help the armed forces keep a closer eye on border areas, betting big on the military space sector. The Bengaluru-based facility will manufacture sub-metre resolution satellites and will have a...
S&P Raises India FY24 Growth Forecast To 6.4 Per Cent
NEW DELHI: S&P Global Ratings on Monday revised India’s economic growth forecast for this financial year to 6.4%, up from 6% projected earlier, bringing it closer to the Reserve Bank of India’s estimate of 6.5%. “We have revised up our projection for India’s GDP (gross domestic product) growth for...
India’s Engineering Exports Surge In US, Saudi Arabia, And UAE In October
NEW DELHI: Exports of engineering products from India witnessed growth from countries such as the US, Saudi Arabia, and the United Arab Emirates (UAE) during October but contracted from several nations in the European Union (EU), China, and Southeast Asia, according to government data. After a slump during the...
TRAI Won’t Cancel Apple Phone Registration Over DND Application Row
NEW DELHI: The Telecom Regulatory Authority of India (Trai) will continue to work with Apple to break the deadlock in talks over introducing its Do Not Disturb (DND) application (app) to Apple’s iOS Store, senior officials have said. The iPhone maker removed the app from its app store in...
iPhone Maker Foxconn Plans $1.6 Billion Investment In India
NEW DELHI: Taiwan’s Hon Hai Precision Industry Co, which is a contract manufacturer for iPhones, on Monday said its subsidiary Foxconn Hon Hai Technology India Mega Development, has planned $1.6 billion investment in India. The planned outlay by the company is related to certain construction projects at its own...
Co-Lending Deals Between NBFCs, Banks Set To Rise After RBI Nudge
MUMBAI: The banking sector is expected to witness rise in co-lending deals between Non-Banking Financial Companies (NBFCs) and banks after the Reserve Bank of India (RBI) Governor Shaktikanta Das asked shadow banks to reduce their over-dependence on bank funding. Smaller and mid-size NBFCs will prefer co-lending as funds sourced...
SEBI Nod For Small, Medium REITs To Boost Investments And Liquidity
MUMBAI | NEW DELHI: The Securities and Exchange Board of India (Sebi) decision to create a regulatory framework for the facilitation of small and medium real estate investment trusts (SM REITs) is expected to boost participation of retail investors, institutionalise the segment, and encourage greater capital influx from both...
Core Inflation May Bottom Out Around Four Per Cent: Economists
NEW DELHI: Core inflation, which excludes volatile food and energy prices, may stabilise around 4% in January with a limited scope for further decline as prices continue to be sticky in certain service sectors, according to economists. A higher core is likely to keep retail inflation from declining significantly,...
