Breaking news, views, reviews, cricket from across India

  • The good side of LTCG tax that most Indians probably have no idea about
    on February 20, 2018 at 6:13 pm

    By Indira IyerThe bearish run on the stock market soon after the Budget announcement of a 10% long-term capital gains (LTCG) tax has been along expected lines. This is partly due to early self-correction in the overvalued market.Globally, too, the S&P 500, which till January 2018 was in one of its longest bull runs since 1929, fell by over 3.85% in the first week of February, erasing over $1 trillion of its market value. However, a part of the fall in stock market prices in India can also […]

  • Banks may tighten their purse against jewellers
    on February 20, 2018 at 5:57 pm

    Diamonds are regarded as the hardest known material on the planet. Going by the mounting pile of loan delinquencies, they seem to be the hardest business for Indian bankers to crack.Last week, Punjab National Bank (PNB) acknowledged an elaborate web of deception that had defrauded the lender, on initial count, of Rs 11,400 crore. PNB’s startling disclosure involving diamond jewellery designer Nirav Modi capped a string of striking defaults by businesses in polished stones, putting the […]

  • Not privatisation, there is another way to make banks fraud-proof
    on February 20, 2018 at 5:51 pm

    A king laying siege to a fortified town ran out of money to pay his soldiers, but had a hundi drawn on a merchant in the besieged fort. He sent word to the merchant, demanding cash. The merchant got permission from his king to honour the request, to stop the fighting and send out the money.That tale might not be the literal truth but says much of banking relations in medieval India, the trust depositors had on those who held their money, the readiness to honour that trust and, more […]

  • Not privatisation, there is another way to make banks fraud-proof
    on February 20, 2018 at 5:51 pm

    A king laying siege to a fortified town ran out of money to pay his soldiers, but had a hundi drawn on a merchant in the besieged fort. He sent word to the merchant, demanding cash. The merchant got permission from his king to honour the request, to stop the fighting and send out the money.That tale might not be the literal truth but says much of banking relations in medieval India, the trust depositors had on those who held their money, the readiness to honour that trust and, more […]

  • Blockchain tech can reduce transaction costs: FICCI-PwC
    on February 20, 2018 at 5:47 pm

    The next generation blockchain technology can help in reducing cost of transactions in various government schemes, a joint report by industry chamber FICCI and consultant firm PwC today said."By removing the need for third parties to manage transactions and keep records, blockchain technology can massively reduce transaction costs... Leveraging blockchain technology for social benefit schemes will support the government's wider policy objectives of sustainability, thus reducing poverty and […]

  • From stationery czar to loan defaulter: The rise and fall of Rotomac boss
    on February 20, 2018 at 3:13 pm

    The sprawling 4,000 square yard 'Santushti' mansion in the plush Tilaknagar locality here wears a forlorn look but for the occasional comings and goings of vehicles belonging to the Central Bureau of Investigation (CBI) sleuths.And each time the gates open, revealing a punctiliously maintained lawn and a bevy of luxury vehicles, anxious camera persons and reporters, camping outside Vikram Kothari's palatial residence, jump into action hoping to catch the latest in the ongoing probe against the […]

  • Say goodbye to stocks and bonds moving in opposite directions
    on February 20, 2018 at 2:00 pm

    By Jim BiancoThe post-crisis era has been dominated by a risk-on/risk-off trading environment where risk assets such as stocks and safe assets such as bonds move in opposite directions. That may no longer be true.Some have dismissed the recent spike in volatility as an isolated derivatives debacle rather than a regime shift in trading patterns. Yet, these gyrations are the results of rising inflation fears that are fueling concern that central banks may exit the markets sooner than anticipated. […]

  • India's first AI research institute opened in Mumbai
    on February 20, 2018 at 1:30 pm

    Bengaluru: Wadhwani AI, India’s first research institute dedicated to developing artificial intelligence solutions for social good was inaugurated in Mumbai on Sunday. The institute will focus on researching ways to harness the power of AI to solve deep rooted problems in healthcare, education, agriculture, and infrastructure to accelerate social development."Wadhwani AI is a prime example of how the public sector and the private sector can come together with good intentions to build a […]

  • 3.16 lakh candidates placed under government employment scheme
    on February 20, 2018 at 10:54 am

    In less than two years of its launch, Pradhan Mantri Kaushal Vikas Yojana (PMKVY) (2016-20), the flagship scheme of the Ministry of Skill Development and Entrepreneurship (MSDE) registered 3,16,671 placements as on February 2018.With nearly 55 percent successful placements, the Short-Term Training Program (STT) under PMKVY (2016-20) has successfully trained over 13 lakh candidates, of which over nine lakhs have been certified till February 2018. Placements have been facilitated for 5.98 lakh […]

  • Import duty and stock limits set to boost profits of sugar millers
    on February 20, 2018 at 9:21 am

    Pune: CRISIL Ratings has said import duty and stock limits will improve prices and profitability of mills and sugarcane farmers alike. A raft of government measures earlier this month have come as relief for sugar mills and sugarcane farmers alike. These include increase in import duty on raw and white sugar to 100%, and restriction on sugar sales by imposition of stockholding limits for February and March. Domestic sugar prices fell nearly % between October 2017 and January 2018 in […]

  • Trump Jr on Kolkata visit to raise toast to city’s Tower success
    on February 20, 2018 at 6:13 am

    KOLKATA: Donald Trump Jr will raise a toast and deliver a speech at a dinner hosted to celebrate the success of Trump Tower Kolkata on Tuesday evening. In attendance will be 100-odd businessmen who have booked apartments in the project and select names from the city’s real estate fraternity.Harsh Neotia of Unimark Group, one of the three partners developing the Rs 600-crore project, said, “It is a privilege to welcome Donald Trump Jr to Kolkata. The success of the project reflects […]

  • Phantom flats have homebuyers fleeing a once-hot property market
    on January 31, 2018 at 10:50 am

    By Pooja Thakur, Dhwani Pandya and Upmanyu TrivediAmit Khulve, a 34-year-old resident of the north Indian city of Noida, is still paying off the mortgage on an apartment he’s never lived in.The sales executive says he borrowed about 500,000 rupees ($8,000) in 2012 and pulled another 1 million rupees from his savings to reserve a flat in a building planned by the property developer Unitech Ltd. Six years on, the project hasn’t been built, and he’s among hundreds fighting to […]

  • VHP's Praveen Togadia gets support from unlikely allies - Hardik Patel, Congress
    on January 16, 2018 at 12:18 pm

    Terming VHP leader Pravin Togadia's claim that he apprehended a plot to kill him in a police encounter as a "serious issue", opposition Congress in Gujarat today sought an inquiry.Congress leader Arjun Modhwadia met Togadia at a city hospital where the Vishwa Hindu Parishad leader was admitted yesterday in an unconscious state.Apart from Modhwadia, a vocal critic of the VHP's Hindutva ideology, Patidar quota agitation leader Hardik Patel also met Togadia separately.Togadia, the VHP's […]