Ravneet Gill, Deutsche Bank India CEO thinks the banking regulator and the government are doing an earnest job of building the blocks for future growth and regaining the trust of investors. The lunch venue is changed thrice by his office just to make sure that the boss gets a quiet corner. Even the steward at India Jones, the pan-Asian restaurant in the basement of Hotel Trident, hurriedly changes the original table allotted to us to make sure that our conversation happens in ... Rediff.com, 2 months ago
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While FMPs no longer offer the same short-term advantage, it is still a good product for the medium term. Retail investors and high networth individuals were especially disappointed when Finance Minister Arun Jaitley changed the taxation guidelines of fixed maturity plans (FMPs) in Union Budget 2014-15. From being a product that offered double indexation (inflation index) benefits for a term of only 14 to 15 months (short term), the product suddenly became one in which the investor had to stay ...Rediff.com, 4 days ago
Market players see no change in cash reserve ratio either, expect RBI to wait for Fed moveBankers, economists and market participants expect the Reserve Bank of India to maintain status quo in its fifth bi-monthly policy review for 2015-16, scheduled on December 1.All 12 participants in a BS poll said RBI Governor Raghuram Rajan would be in no mood to tinker with the interest rate or even the cash reserve ratio. He would ideally wait to see the impact of a possible rate hike by the US Federal ...Rediff.com, 5 days ago
Shipsy is the brainchild of Soham Chokshi, a mechanical engineer from IIT Madras and co-founders Dhruv Agrawal and Maharshi Devraj. At a time when some see the fairytale ride for start-up economy in India ebbing, Delhi-based ‘customer-to-customer’ service provider Shipsy, seems to be betting on on-demand hyperlocal logistics, a relatively untapped app-driven market for start-ups. Defining Shipsy’s focus and unique selling point, co-founder Soham Chokshi says: “There ...Rediff.com, 2 weeks ago
Instruments such as Reits, InvITs, unsponsored GDR, GIFT find few takers. At least five new fund-raising avenues, despite having cleared with much fanfare by the regulatory authorities, have remained doubtful starters due to lack of clarity on the taxation front. Instruments such as Real Estate Investment Trusts (Reits), Infrastructure Investment Trusts (InvITs) and unsponsored depository receipts (DRs) have failed to take off. Even the Gujarat International Finance Tech, or Gift) City, ...Rediff.com, 3 weeks ago
Launch of 4G service may be delayed, likely after MarchReliance Jio may have delayed launch of its fourth-generation mobile internet services to the next financial year but its ambition remains intact. Having invested Rs 100,000 crore (Rs 1,000 billion) in the venture and plans to put a similar amount in the days to come, RJio has set a target of 100 million subscribers in the first year itself.While Reliance Industries Chairman Mukesh Ambani wants the target to be achieved in the first ...Rediff.com, 1 month ago
Benchmark indices have closed lower for the second straight day, amid weak global cues, with capital goods, metal and oil shares leading the decline. Market participants have turned cautious ahead of the US FOMC meet which begins today. The Bank of Japan's meeting on interest rate decision is also scheduled on Friday. Further, markets will remain volatile this week ahead of the October derivatives expiry on Thursday. The 30-share Sensex ended lower by 109 points at 27,253 while the ...Rediff.com, 1 month ago
In last few years, a number of global players have exited the Indian mutual fund business. In its first ever acquisition, Reliance Capital Asset Management (RCAM) on Wednesday announced takeover of global giant Goldman Sachs' mutual fund business in India for Rs 243 crore (Rs 2.43 billion) in an all-cash deal as yet another foreign player exits the Rs 13 lakh crore Indian MF market. The deal, under which RCAM will acquire all 12 onshore mutual fund schemes of Goldman Sachs Asset Management ...Rediff.com, 1 month ago
Volkswagen did not name a successor, but said proposals on management appointments would be made to a full board meeting on Friday. Image: Martin Winterkorn, CEO, Volkswagen. Photograph: Reuters Volkswagen Chief Executive Martin Winterkorn resigned on Wednesday, succumbing to pressure for change at the German carmaker, which is reeling from the admission that it deceived U.S. regulators about how much its diesel cars pollute. "Volkswagen needs a fresh start - also in terms ...Rediff.com, 2 months ago
Image: Dancers perform during the Republic Day celebrations in the northern Indian city of Chandigarh January 26, 2011. India celebrated its 62nd Republic Day on Wednesday. Photograph: Ajay Verma/Reuters India has been ranked 11th in the list of countries with highest number of HNWI population India has become home to 11th largest population of millionaires with 1,98,000 such high networth individuals, as falling oil prices and ‘constructive’ election results helped the country ...Rediff.com, 2 months ago
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