India Blog News - Page 21

RBI's fascination with fiat cryptocurrency: Why central bank's gamble can push the Indian economy into chaos

The deputy governor has tied himself into knots by saying that both the existing Indian rupee as well as the fiat cryptocurrency, the RBI is toying with, would hold sway.

ICICI Videocon loan controversy: Why being silent won't help repair Chanda Kochhar's damaged reputation

Kochhar, once celebrated as a leading banker, might have to face some flustered board members this week, who could meet to discuss the way ahead for her.

Deutsche Bank picks retail specialist Christian Sewing as new CEO to replace John Cryan

In picking up the baton, Christian Sewing would also face challenges including further cost cutting, intense competition at home and abroad, and increased regulation.

Binani Industries to move Supreme Court with Rs 7,618 cr offer, has assurance of support from most lenders, says co

Binani, backed by Aditya Birla groups UltraTech Cement, has already received comfort letter for financial support.

Videocon loan controversy: Twitterati asks if ICICI Bank knew anything at all about 'business house of Kochhar'

Chanda Kochhar, Managing Director and CEO of ICICI Bank, is in the eye of the storm following the Videocon loan controversy.

Fuel price hike: Reintroduction of petrol, diesel subsidies will rob us of future gains

The fuel price hike has already been much debated upon, but an economic rationalisation of the same has been missing.

IndiGo opts out of race to acquire Air India, says does not have capability to turn around the maharaja

IndiGo, Indian conglomerate Tata Group, and Turkey’s Celebi Aviation Holdings, have expressed an interest in buying some of Air India’s operations.

Reserve Bank of India cracks down on bitcoins, plans to introduce central bank digital currency

An interdepartmental group has been constituted to study and provide guidance on the "desirability and feasibility" to introduce a "central bank digital currency" and will submit its report by June

RBI monetary policy: Neutral stance maintained on domestic and global cues, say experts

More than the RBI decision to keep rates unchanged, the tone of the policy is a pleasant surprise for the market

RBI maintains repo rate at 6%: Here are the key highlights of the first monetary policy for FY19

The repo rate, at which the central bank lends short-term money to other banks, will continue to stay at 6 percent.

Flipkart enters online travel space, ties up with MakeMyTrip; flight bookings to be kicked off first

MakeMyTrip's brands, including Goibibo and redBus, will leverage the large customer base of Flipkart to drive online bookings

Sensex rallies nearly 400 pts, Nifty above 10,250-mark ahead of RBI monetary policy, receding fears of US-China trade war

The 30-share Sensex spurted by 393.60 points, or 1.19 percent, to 33,412.67 in opening trade. The gauge had lost 351.56 points in the previous session.

Centre sets up IT Grievance Redressal Committee to address technical glitches on GST portal

Taxpayers can approach field officers/nodal officers if there is a demonstrable glitch on the common portal due to which the due process could not be completed.

Delhi bookseller wins Payoneer entrepreneurship award; readies plan to tap European market

While starting an online business is pretty simple, going the long haul requires patience and willpower.

Binani Cement's Committee of Creditors to stick with Rs 6,350 cr offer from Dalmia Cement

The CoC did not approve the offer from its promoters Binani Industries, which is pitching for Rs 7,266 crore offer from the Aditya Birla Group firm UltraTech Cement, due to legal implications, sources said.

Cognizant tax dispute: 'Operations remain unaffected' by tax dispute, says CFO Karen McLoughlin

The Madras High Court on Tuesday granted interim stay on Income Tax department proceedings against Cognizant, subject to the firm depositing 15 percent of Rs 2,800 crore dividend distribution tax demanded by the department,

Coal India to own 1,500 railway rakes in 7 years, expand rail network, says Piyush Goyal

State-owned Coal India accounts for over 80% of domestic coal output and is eyeing one billion tonnes of coal output by FY2019-20.

Flipkart sees 100% y-o-y growth in kids fashion category, demand driven by tier II, III towns

Flipkart, the SoftBank-backed company, which is locked in an intense battle for market leadership in India against US-based Amazon, claimed it had 51 percent share of the online market in the kids fashion category.

ICICI Bank: Some borrowers get debt recast done by Chanda Kochhar's brother-in-law's firm Avista

ICICI Bank on its part denied any conflict, saying it had not hired Avista Advisory Group run by Rajiv Kochhar, brother of Chanda Kochhar's husband Deepak, and did not pay any fee.

SoftBank and Alibaba to pump $445 mn into Paytm Mall: Is it now equipped to battle rivals Flipkart and Amazon?

Paytm’s plan is to double down on what it is doing. Funds raised will be deployed to beef-up technology and build superior logistics, among other things.

Fuel price hike: Farmers to factor in losses; household budgets may not be affected

Though the rise in petrol, diesel prices are high, people don’t make decision on transporting good based on these price fluctuations of Rs 11 or Rs 12 as it is not a dramatic rise.

E-way bill hurls movement of goods back into chaos, signals the return of the Inspector Raj on highways

The e-way bill rules have been modified this time round, following representations from industry based on the aborted and short-lived tryst with e-way bill two months ago

Sensex begins FY19 on a solid note, rises over 100 points to reclaim 33,000 mark; Nifty above 10,150

The 30-share BSE benchmark, which had lost 205.71 points on the last session of FY18 on Wednesday, rose 133.32 points, or 0.40 percent, to 33,102.00.

Over 1.7 lakh e-way bills generated on 1 April but real test begins today, say experts

Touted as an anti-evasion measure, the e-way bill help boost tax collections by clamping down on trade that currently happens on cash basis.

Jet Airways, SpiceJet, Vistara flag concerns over data discrepancy on technical snags

Airlines maintained that data was leading to a "false illusion" about safety of the airlines.

Multiple H-1B applications will lead to rejection; to intensify scrutiny of non-immigrant visas, warns USCIS

The H-1B programme offers temporary US visas that allow companies to hire highly skilled foreign professionals working in areas with shortages of qualified American workers.

Leveraging technologies to create fabrics, denim, says Arvind's CEO Akhtar

It has plans to list its branded apparel business, Arvind Fashions, into a separate entity

Toyota, Suzuki to produce cars for each other in India, vehicles to be rebranded

Producing 50,000 vehicles for Toyota would represent just a sliver of what Suzuki sold in India in 2017.

Ola-Uber merger: SoftBank’s in the driver's seat, but it's unclear if aggregators are on the same page

So who stands to benefit from an Ola-Uber merger? It is not the customers or the drivers as the monopoly will drain the market off of choices.

Govt bites the bullet on Air India, but high debt, other bid conditions could make disinvestment a bumpy ride

Keeping over Rs 33,000 crore debt on the books of the two airlines on offer could be the biggest hurdle to this stake sale.