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…]
Following its demonetisation decision on Nov 8, government claims that the inconvenience is temporary but harsh reality is that the decision has taken toll on people. Ironically, Prime Minister Modi also claimed that his demonetisation decision was somewhat ‘kadak’ (strong) linking it to his ‘chaiwallah’ background. “When I was young,[Read More…]
Government on Monday said parking charges at airports across country are being waived till the midnight of November 21, as people continue to face difficulties in tendering change following the demonetisation of Rs 500 and Rs 1,000 notes. The directive would be applicable on both Airports Authority of India (AAI)[Read More…]
A 45-year-old farmer allegedly committed suicide as he was apparently upset over not being able to get his high-denomination notes exchanged for fresh ones due to serpentine queues in banks. The farmer Ravi Pradhan’s wife Pushplata claimed that he was in urgent need of money to help their two sons[Read More…]
Lashing out at Congress and other parties for criticizing government’s decision to demonetise Rs ₹ 500 and ₹ 1000 notes, PM Modi said his decision is a little “karak” (strong). He was drawing an analogy with his early days as a tea vendor. Prime Minister said “My decision is a[Read More…]
Around ₹ 3 lakh crore of old ₹ 500 and ₹ 1000 notes were deposited in banks post demonetisation while ₹ 50,000 crore has been dispensed to public, Finance Ministry said. The banking system has handled about 18 crore transactions during the period, it said on Sunday, adding that issuance[Read More…]
Cash-strapped people started making beeline outside ATMs from early morning on Monday but with limited success as most of cash vending machines are running dry and banks remained closed in many parts of the country due to Guru Nanak Jayanthi. Scuffle and heated exchanges were reported from ATMs and banks[Read More…]
In view of demonetization, the government has extended working hours of banks and claimed that inconvenience is temporary but the condition on the ground is worst as cash-strapped people looted ration stores, pelted stones on banks and some of them collapsed out of exhaustion and stress across the country. Following[Read More…]
Putting speculations to rest, an official on Friday said no new security features has been added to newly designed currency note ₹ 2000 . “Since the decision to introduce the new notes was taken only six months ago, there was no time to alter the security features. Only the design[Read More…]
With government’s decision to scrap Rs 500 and Rs 1000 currency, the Fake Indian Currency Notes (FICN) trade across the border with Bangladesh has taken a huge hit in the last two days. Activity of the FICN traders operating in the border areas has been negligible in the last two[Read More…]
The government’s decision to scrap Rs 500 and Rs 1000 currency has left many high and dry as Assembly elections are barely few months away. Though the parties are tight-lipped on the issue but normally they keep aside a substantial amount of unaccounted funds for the poll campaign. The role[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…]
In a bid to deal with the rush of people expected to queue up at branches to exchange now-invalid currency notes of Rs 500 and Rs 1000, the RBI has announced that banks will remain open on coming Saturday and Sunday. “Banks will remain open for public on Saturday, November[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…]
In his emergency address to the nation on Tuesday, Prime Minister Narendra Modi announced that currency notes of ₹500 and ₹1,000 will be withdrawn from midnight. He said the citizens will have 50 days – from 10 Nov to 30 Dec to deposit notes of ₹500 and ₹1000 in any[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 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…]
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…]
A day after Cyrus Mistry was removed as Chairman of Tata Sons, Ratan Tata on Tuesday asked leaders of group companies to focus on their businesses and not be concerned about the sudden exit. “My appointment is for short-term and the new leadership will be in place soon. I have[Read More…]
After Monday’s abrupt removal of Cyrus Mistry as the chairman of Tata Sons, rumours have been afloat about the reason behind the removal. The Economic Times now claims to have unearthed the reason – On August 26, the Tata Sons board was expanded by inducting Piramal Enterprises Chairman Ajay Piramal[Read More…]
Reports had streamed in of the Mistry family being miffed with the Tata Group after Cyrus Mistry was unceremoniously sacked as the chairman of Tata Sons. It was reported that the Mistry-owned Shapoorji Pallonji group would probably take the Tata’s to court. Taking prior cognizance, the Tatas have filed caveats[Read More…]
IT services major Infosys is splitting its four larger industry verticals into 15 smaller units to make the company more agile and sharpen client focus, reports ET. The objective is to give its presidents more time to build CXO-level relationships and strategy to improve sales, than be bogged down by[Read More…]
The government on Saturday hiked the petrol price by ₹1.34 a litre, the fifth increase in two months, and diesel by ₹2.37 a litre in wake of spike in global rates. The hike announced by oil companies is excluding state levies. After including local VAT, petrol will now cost ₹66.05[Read More…]
With the government increasing supply of cooking gas and electrification in rural areas, the kerosene subsidy is set to take a nose dive. The Centre is reducing kerosene supply by 5% a quarter which, along with additional voluntary cuts by some states, small increases in retail prices, and roll out[Read More…]
British-born Oliver Hart and Bengt Holmstrom of Finland won the Nobel Memorial Prize in Economic Sciences for their contributions to contract theory, shedding light on how contracts help people deal with conflicting interests. Their findings on contract theory have implications for corporate governance, bankruptcy legislation and political constitutions, among other[Read More…]
