With people being reluctant to shell out the cash they stood hours in line for, digital payments company Paytm said on Monday it witnessed over seven million transactions worth Rs 120 crore on Saturday. Paytm has crossed $5 billion GMV sales, four months ahead of its target, reports PTI. Gross[Read More…]
The Cyrus Mistry and Ratan Tata war broke out almost a month back and the bitterness for each other has only increased with each passing day as both the camps indulge in allegations and counter allegations. According to this article in The Economist, Ratan Tata needs to get his act[Read More…]
Former Goldman Sachs director Rajat Gupta has assumed the role of a US-based non-profit organisations’ chairman. Gupta had spent the last two years in jail on charges of insider trading. Gupta has taken over as chairman of WHEELS Global Foundation (WGF). Launched in 2013 by IIT alumni, WGF is a[Read More…]
SBI chairman, Arundharti Bhattacharya, on Wednesday said there has been no write offs and no let off of wilful defaulters will happen. “It is only accounting entry. That does not change anything. To impute otherwise is to unnecessarily malign the banks,” Further, Bhattacharya explained this in the following points: First,[Read More…]
Former global managing director of McKinsey and Co and Goldman Sachs board member Rajat Gupta returned to India last week after completing his two-year prison term in the US. Jailed in June 2014 in Devens, Massachusetts, Gupta was freed after receiving credit for good behavior against his 30-month sentence, according[Read More…]
Prime Minister Narender Modi’s decision to scrap old currency ₹500 and ₹1,000 notes had an immediate impact on luxury shopping. A senior official associated with DLF Emporio told The Luxe Cafe that footfall in the mall has taken an 80 per cent hit from the usual working day crowd in[Read More…]
The government’s sudden move to demonetise ₹500 and ₹1,000 currency notes will have a transitory impact on GDP growth. According to research by ratings agency CRISIL, the new decision will spell significant strutural benefits over the long term. In the longer run, this move will improve the government’s fiscal position[Read More…]
During the US election 2016, Warren Buffet was one of the biggest Hillary supporters. Ironically, Trump’s unexpected victory once again made Warren Buffet the second-richest man on the planet. Buffet added $US5.8 billion to his fortune this week, leading gain for the world’s wealthiest as he leaped over Spain’s Amanio[Read More…]
The latest step taken by the PM is a historic move in the India’s history. I believe it marks a new beginning for India’s economy. It’s like BC(Before Currency) and AD( After Demonetization) for me. While in longer run, it is a great move for all around growth of country,[Read More…]
Refuting all of Cyrus Mistry’s accusations, Tata Sons today said that they did not expected such devious moves by him. In a statement on Thursday, Tata Sons , accused Cyrus Mistry for the poor performance of the Tata group entities, declining dividends and misusing public relations to manipulate the media.[Read More…]
Donald Trump’s dumbfounding victory over Hillary Clinton in the US elections has sent shockwaves across the world. Many countries are now re-evaluating their stand with the US and what the shock result means to them. India too is now gearing up with plans and probabilities of Trump’s move to the[Read More…]
NITI Aayog vice chairman Arvind Panagariya, along with administrative ministries, will decide the fate of seven Central Public Sector Enterprises (CPSEs) on strategic disinvestment on Thursday, sources said. Central Public Sector Enterprises (CPSEs) are those companies in which the direct holding of the Central Government or other CPSEs is 51%[Read More…]
The unexpected victory of Republican nominee Donald Trump resulted a sharp decline in the international stock markets. American stock market index S&P 500 futures slipped as much as 5% following news that Trump pulled ahead of Hillary. Japan’s Nikkei stock index was down about 5%,crude oil slumped more than 3%[Read More…]
“I think the Nano failed to meet the aspirations of customers in totality, not just one or two factors,” said Maruti Suzuki India chairman R C Bhargava on Thursday in New Delhi. Bhargava further went on to say that a two-wheeler owner, when looking to upgrade to a car, wants[Read More…]
In order to change the entire parameter of gauging students and to work according to their calibre Evergreen Education Foundation is conducting a one day national level conference in partnership with Newsd with a view to revamp the Indian education system on Sunday 20th November at the Hilton Conrad, in Pune.[Read More…]
Goods and services worth at least ₹17 trilion were exported by Indians over the past four decades but did not remit an equivalent amount in foreign exchange, an HT analysis of classified central bank data shows. This is probably the first measure of how much the economy bled from tax[Read More…]
Ratan Tata on Tuesday said that Cyrus Mistry’s removal was “absolutely necessary” for the future success of the Tata Group. In a letter written to employees Tata said, “The decision to change the leadership of Tata Sons was a well-considered and serious one for its board members. This difficult decision,[Read More…]
In a list prepared by the World Bank with the Department of Industrial Policy and Promotion (DIPP) on the ease of doing business, Andhra Pradesh and Telangana jointly topped the rankings for 2015-16. Last year’s topper, Gujarat, slipped to third position. Commerce and Industry Minister Nirmala Sitharaman released the report[Read More…]
Auto giant Volkswagen (VW) expects the shift to electric cars to cost a five-digit number of jobs in coming years, the Frankfurter Allgemeine Zeitung newspaper reported, citing the carmaker’s human resources chief. Karlheinz Blessing, who sits on VW group’s nine-member top management board, said the carmaker will need to cut[Read More…]
The auspicious Mahurat trading session on Dalal Street ended up on a weak note on Sunday, with the equity benchmarks ending with marginal cuts. But the broader market, which includes smallcap and midcap stocks, showed strength. The BSE Sensex fell over 50 points after starting on a promising note. Finally,[Read More…]
The sudden ouster of Cyrus Mistry was sure to leave a few casualties, and one of the first to fall seems to be Tata Group’s chief of human resources (CHRO), N S Rajan. Sources told Economic Times that Rajan was handpicked by Mistry to be part of the Group Executive[Read More…]
Tata Sons hit back at allegations made by the ousted chairman Cyrus Mistry, saying it is not based on facts and it will release documents at “proper forums” to prove Mistry’s allegation are baseless. “It is a matter of deep regret that a communication marked confidential to Tata Sons board[Read More…]
A day after the Tata Sons board dismissed Cyrus Mistry as chairman, he hit back with a vengeance at the board in general and his predecessor and interim replacement Ratan Tata in particular. In the letter, Mistry clearly detailed the failed strategies, questionable transactions and authoritarianism inside India’s largest conglomerate.[Read More…]
A report by NASSCOM-ZINNOV, titled as “Indian Startup Ecosystem Maturing – 2016” says that India will be home to 10,500 start-ups by 2020. India has emerged as the third largest start-up base just behind US and UK, and nearly 1,400 new start-ups are expected by end of 2016, up by[Read More…]
Beleagured liquor baron Vijay Mallya has disclosed to the Supreme Court that he had Rs 16,440 as cash in hand as of March 31, 2016. His bank deposits in India totalled Rs 12.6 crore, which was under attachment by the Income Tax Department, it noted. Mallya also stated he had[Read More…]
