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  The Indian Express Dated: 10 September 2020 By: Sandeep Singh The sharp decline in technology stocks, that include some of the biggest companies in world, had a ripple effect on global markets too and has kept the markets in Asia and Europe under stress over the last week. Over the last three trading sessions, Nasdaq Composite in the US has declined 10 per cent in line with sharp correction in stock prices of technology giants including  Apple , Amazon,  Facebook , Nvidia, Tesla, Netflix and Zoom Video Communications among others. The sharp decline in technology stocks, that include some of the biggest companies in world, had a ripple effect on global markets too and has kept the markets in Asia and Europe under stress over the last week. While the fall has been sharp, it is in line with expectations of corrections following concerns over high valuations that they were trading on. The rise before the fall Before the fall it is important to see and understand the rise in...

Fisrpost March 14, 2020 The government has notified the Yes Bank reconstruction scheme as per which the moratorium on the troubled private sector lender will be lifted on 18 March. Current administrator Prashant Kumar has been appointed managing director and CEO of the newly-reconstructed board.  The Yes Bank Reconstruction Scheme 2020, shall come into force on 13 March, the gazette notification said. The Reserve Bank of India (RBI) had on 5 March put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till 3 April.  "The order of moratorium on the reconstructed bank issued by the government...shall cease to have effect on the third working day at 18:00 hours fron the date of commencement of this scheme," the notification said. The scheme has been notified on 13 March and hence the moratorium will be lifted on the third working day or 18 March.  The notification also clarified that "all existing contracts, agreements, etc., will co...

CNBCTV18 October 09, 2019 By ASHUTOSH DATAR Overall currency in circulation continues to increase well above the nominal GDP growth even though we are almost three years into demonetisation. Within the larger ticket retail payments, it is not the digital payments that have accelerated. one of the (after-thought) goals of demonetisation was to reduce the cash intensity of the economy by encouraging people to shift to non-cash modes of payments. Supporting ‘digitisation’ of payments as it is otherwise known. And almost three years into this journey, some contradictory and perplexing trends have emerged. In this piece, I take stock of some of them. Overall currency in circulation (CIC) continues to increase well above the nominal GDP growth even though we are almost three years into demonetisation. In the June quarter, CIC grew at almost 13 percent YoY, well above the nominal GDP growth of 8 percent during that quarter. And in the September quarter too, CIC has grown a...

The Hindustan Times Reuters, October 02, 2019 Ford Motor Co and Mahindra & Mahindra will form a joint venture in India valued at $275 million to produce and sell vehicles in the country and export to emerging markets, the two companies said on Tuesday. The two companies have for months been negotiating the deal which will see Ford take a 49% stake in the new entity and end most of its independent local operations in the country, Reuters reported in April. Under the terms of the deal, which is likely to be finalised by mid-2020, Ford will transfer its local automotive assets, including both its car manufacturing plants in the country, and employees to the new entity, the companies said in a statement. Under pressure from shareholders to make profits, Ford has been globally restructuring its businesses with an aim to save $11 billion over the next few years. By shifting to a joint venture, Ford is changing its India strategy where it has long run an independent oper...

The Telegraph July 11, 2019 Mineral-rich Odisha has the potential to be a $1-trillion economy and help India to become a $10-trillion economy, according to a report prepared by JSW Group and PwC India. Releasing the vision report, titled Economic Possibilities for Odisha Towards a One-Trillion-Dollar Economy, at the state secretariat, chief minister Naveen Patnaik said, “Mineral-rich Odisha will play a central role in driving national growth as a manufacturing hub of the country. Odisha, having huge natural resources, is on its way to achieve this objective through its investment friendly policies, infrastructure connectivity and skilled manpower.” The report emphasized on the competitive advantage of Odisha over other states and its potential to become the export hub for metal products across the world. The report draws parallel between the mineral-rich Hebei province of China and Odisha. The Hebei province, that constitutes around 1.96 per cent of China’s tota...

Live Mint PTI July 11, 2019 New Delhi: The government has re-calibrated and fixed the direct taxes collection target for this financial year at ₹13.35 lakh crore, a task that the CBDT chief said is difficult but achievable. He also said that the government can only think of further "lowering" corporate tax rates once the exemptions and deductions in this sector are phased out. "In the last revised estimates, our target (for 2019-20 financial year) was fixed as ₹13.78 lakh crore which appeared to be rather unrealistic because it was showing an increase of almost 24% year-on-year. This is the submission we made while budget deliberations were going on. "I am happy to say that the government in its wisdom was appreciative of that and they went by the actual collections which happened last year. And consequent to that the budget (collection target for direct taxes) has now been fixed at ₹13.35 lakh crore," CBDT Chairman Pramod Chandra Mody told PTI. ...

The Hindu Suhasini Haider, July 11, 2019 Resumption of trade talks hit by U.S. sanctions on Iran, Indian regulatory changes In the first such formal engagement since the U.S. decided to withdraw India’s preferential trade status in March, a team from the office of the United States Trade Representative will arrive in Delhi on Thursday for meetings with officials of the Commerce and External Affairs Ministries. Officials on both sides have stressed that the talks are not yet a resumption of the trade dialogue that ended inconclusively after several rounds last year, but are “talks about talks”. They will explore steps to resume dialogue as mandated by Prime Minister Narendra Modi and U.S. President Donald Trump after their meeting last month on the sidelines of the G20 summit in Osaka. Dialogue derailed The conversations in Delhi are expected to lay the ground for a meeting between the USTR Robert Lightizer and Commerce Minister Piyush Goyal in the next few weeks, as Ne...

Business Standard April 15, 2019 BS web team T ax dept may pitch for lower I-T target when next govt presents Budget The income-tax (I-T) department will likely pitch for a reduction in the I-T target for the current fiscal year when the next government presents the Budget, because the previous fiscal year’s target was missed. If unchanged, the department may have to chase a personal I-T collection growth rate of 29 per cent, which is even higher than the 26 per cent growth in 2016-17 (FY17), the year of demonetisation and the income-declaration schemes, when collections shot up because people regularised their unaccounted income by paying higher levies. Diesel car phase-out won't impact Maruti sales, says R C Bhargava Maruti Suzuki India (MSIL) will pull the plug on diesel cars from April 1, 2020, the day the new Bharat Stage (BS)-VI emission norms take effect and, though they account for almost a third of sales, the move is unlikely to dent the market leader’...

Financial Express April 10,2019 Even as trouble for aviation sector continues, GoAir sees the exodus of over two dozen senior officials in the last nine months. The CEO, the COO and the CCO, four vice-presidents besides other heads and general managers are among the top personnel who have made exit during the period starting July, citing different reasons. Since Cornellis Vriewijk’s exit in Feburary, the low-cost airline is operating without a CEO. The Dutch-national quit within nine months of taking over the job and cited ‘family reasons’ behind the reason to quit. The budget carrier has company MD Jehangir Wadia holding additional charge of the CEO since then. “The last three quarters of the previous fiscal saw the departure of some 15 top and senior executives from the airline. These include the CEO, the COO and the CCO, four vice-presidents besides scores of heads/general managers,” news agency PTI reported citing unidentified official. The other high-profile ...

The Money Control April 08, 2019 PTI The Reserve Bank of India Monday came out with guidelines for banks to set up new currency chests, which include minimum area of 1,500 square feet for strong room. "Area of the strong room/ vault of at least 1,500 sq ft. For those situated in hilly/ inaccessible places, the strong room/ vault area of at least 600 sq ft," the RBI said while specifying minimum standards for setting up new currency chests. Besides, the new chests should have a processing capacity of 6.6 lakh pieces of banknotes per day.For those situated in the hilly/ inaccessible places, capacity of 2.1 lakh pieces of banknotes per day.Earlier, a RBI appointed committee had recommended that the apex bank should encourage banks to open large currency chests with modern facilities and Chest Balance Limit (CBL) of at least Rs 1,000 crore. The central bank further said the currency chests should have CBL of Rs 1,000 crore, subject to ground realities and reasonab...

Scroll.In Rohan Venkataramakrishnan Dated March 23, 2019 Explainer: What you need to know about the alleged ‘Yeddy diaries’ A report in Caravan alleges that Income Tax officials have a copy of Karnataka politican BS Yeddyurappa’s diaries detailing massive payoffs to top BJP leaders. Explainer: What you need to know about the alleged ‘Yeddy diaries’ A report in the Caravan set off a political storm on Friday, with both the Congress and the Bharatiya Janata Party holding press conferences to trade charges. The story claimed that an Income Tax officer had written to Union Minister Arun Jaitley asking whether the department should investigate a diary that was allegedly kept by former Karnataka Chief Minister BS Yeddyurappa in which he detailed huge payoffs made to senior BJP leaders and others. Yeddyurappa has denied the allegations and claims that the diary was fabricated. The Congress, however, argued that there was enough information for an investigation t...