‘Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.’
Posts tagged Rediff
Maha govt is new owner of iconic Air India building (14-03-2024)
The Maharashtra government has become the owner of iconic Air India building with the Union government approving transfer of the asset on Thursday. The Maharashtra government bought the Air India building at Nariman Point in Mumbai for Rs 1,601 crore. “GoI has approved transfer of Air India building, Mumbai of AI Assets Holding Company Ltd (AIAHL) to Government of Maharashtra (GoM) at consideration of Rs.1601 cr. GoM has agreed to waive dues of Rs. 298.42 cr, which would have been otherwise payable by AIAHL to GoM for this transaction,” DIPAM secretary Tuhin Kanta Pandey said in a post on X.
Fitch raises India’s GDP forecast for FY25 to 7% (14-03-2024)
Fitch Ratings on Thursday raised its forecast for India’s economic growth to 7 per cent for the next fiscal year starting April 1 on the back of strong domestic demand and sustained level of business and consumer confidence. With a stronger-than-expected 8.4 per cent growth in gross domestic product (GDP) during the third quarter (October-December) of the current fiscal year, Fitch saw the Indian economy expanding 7.8 per cent in 2023-24 financial year (April 2023 to March 2024), marginally higher than the government’s estimate of 7.6 per cent.
Tata Motors may drive out of Sensex, Nifty (14-03-2024)
Tata Motors is likely to exit the S and P BSE Sensex and the Nifty50 indices once the demerger process of its commercial vehicle (CV) and passenger vehicle (PV) businesses is complete, analysts at Nuvama Institutional Equities said. They have compared the development with Reliance Industries (RIL) and Jio Financial Services, which got listed separately and eventually (in the next few days) got excluded from the domestic indices.
RIL’s ‘Paramount’ dream to be a media giant (14-03-2024)
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
The Lamborghini theory of India’s consumption patterns (14-03-2024)
Lamborghini has sold 10,112 cars worldwide — so India’s 100 is certainly a big deal for them. But how big a deal is it for us to peg our consumption theories around, asks Rama Bijapurkar.
Why K V Kamath calls Indian banking system the best (14-03-2024)
‘I don’t think we have ever seen such alignment of everything that we need in the banking sector.’
Sebi to erect building blocks to wall in finfluencers (13-03-2024)
Before framing regulations to curb ‘misleading’ messages and stock recommendations by finfluencers (a portmanteau of the phrase ‘financial influencers’), the market regulator plans to put in place some ‘building blocks’ to ensure smooth enforcement. Madhabi Puri Buch, chairperson of Securities and Exchange Board of India (Sebi), is of the view that the ‘traditional approach may not work’ to rein in finfluencers. “There are many interlinked pieces in our regulations – investment advisor regulations, research analyst regulations, the fact that we don’t have algorithmic (algo)-related regulations, what brokers are permitted to do, and what is incidental advice.
Sebi to erect building blocks to wall in finfluencers (13-03-2024)
Before framing regulations to curb ‘misleading’ messages and stock recommendations by finfluencers (a portmanteau of the phrase ‘financial influencers’), the market regulator plans to put in place some ‘building blocks’ to ensure smooth enforcement. Madhabi Puri Buch, chairperson of Securities and Exchange Board of India (Sebi), is of the view that the ‘traditional approach may not work’ to rein in finfluencers. “There are many interlinked pieces in our regulations – investment advisor regulations, research analyst regulations, the fact that we don’t have algorithmic (algo)-related regulations, what brokers are permitted to do, and what is incidental advice.
PSU banks urged to review their gold loan portfolio (13-03-2024)
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. “We have asked banks to undertake comprehensive review of the gold loan business,” financial services secretary Vivek Joshi told PTI.