Breaking news, views, reviews, cricket from across India

  • Led by private sector lenders, bank credit up 3.4% in Dec quarter
    on June 18, 2018 at 3:15 pm

    Bank credit grew 3.4 per cent on a sequential basis in the December 2017 quarter, helped by better performance by private sector banks and an uptick in industrial credit after two successive quarters of declines, show the Reserve Bank data. At the end of the December quarter, bank credit stood at Rs 80.62 trillion compared to Rs 77.95 trillion in the September 2017 quarter, as per the RBI data. Significantly, industrial credit growth turned positive after moderating for two successive quarters, […]

  • Chanda goes on leave, ICICI puts Bakhshi in charge of operations
    on June 18, 2018 at 3:14 pm

    ICICI Bank Chief Executive Officer Chanda Kochhar will proceed on leave to facilitate an independent investigation into charges of favouritism and impropriety while the group’s life insurance head Sandeep Bakhshi will run the lender as its Chief Operating Officer. In a top level reshuffle at the group, the bank’s executive director N.S. Kannan will become the chief executive of ICICI Prudential Life Insurance company subject to regulatory approvals, the bank said in a […]

  • Extreme volatility is part of investing: Ramesh Damani
    on June 18, 2018 at 12:04 pm

    Ramesh Damani, Member, BSE, tells ET Now that analysts who believe that midcaps will keep performing at the scotching rate of 40% CAGR for the next three-five years are fooling themselves. Edited excerpts:What is happening in the market? I don’t mean the index, I am talking about the broader market volatility. What is causing it and how do you protect capital? First let us just talk about the market itself. As Mark Twain said the rumours of its death are greatly exaggerated. A week ago, […]

  • World's most powerful supercomputer unveiled
    on June 18, 2018 at 11:56 am

    US scientists have unveiled the world's most powerful and smartest scientific supercomputer that can complete over 200,000 trillion calculations per second - providing unprecedented computing power for research in energy, advanced materials and artificial intelligence (AI). The US Department of Energy's Oak Ridge National Laboratory (ORNL)supercomputer called Summit will be eight times more powerful than its previous top-ranked system, Titan. For certain scientific applications, Summit will […]

  • Havells appoints Dr Mukul Saxena as executive vice president & chief technology officer (CTO)
    on June 18, 2018 at 11:53 am

    Havells India has appointed Dr. Mukul Saxena as its executive vice president & chief technology officer (CTO). Saxena will head Havells’ Centre for Research and Innovation (CRI) function.Saxena brings with him over 34 years of global experience across energy, industrial automation, digitalisation & healthcare sectors with expertise in R&D, strategic planning, project management, innovation & technology management, product development for multiple industry segments.Prior […]

  • This Mumbai building earns half of the money Air India needs to pay its employees
    on June 18, 2018 at 10:50 am

    As debt-ridden Air India continues its struggle to stay afloat, the national carrier's iconic 23-storey building on Marine Drive in Mumbai is providing much-needed revenue to keep it operational. Air India tower that also boasts of having India's first structure with an escalator earns an annual rent of Rs 100 crore, nearly half of the total salary bill of Air India's 21,000 employees.The airlines shifted to its Delhi headquarters five years ago and since then all floors of the Marine Drive […]

  • Great, good, gruesome: Raamdeo puts Buffett in Indian concept 
    on June 18, 2018 at 10:13 am

    Time is a friend of good companies and a big enemy of bad companies, says Raamdeo Agrawal, Co-Founder, MOFSL. Agrawal tells ET Now that India produces the highest number of multibaggers in the world.Edited excerpts: Yuu have culled this very interesting quote from Phil Fisher which says that it seems logical that even before thinking of buying any common stock, the first step is to see how money has been most successfully made in the past. Is it imperative that the stock has to have given […]

  • It’s the best time to buy a house but here's a condition
    on June 18, 2018 at 1:00 am

    By Renu Sud KarnadIn the last 40 years that HDFC has been in business, has never seen a better time for the housing sector in India than it is witnessing today. The sector is in a sweet spot as the thrust given to housing has been extremely beneficial not only for developers but also homebuyers and lenders. Flagship government schemes like Pradhan Mantri Awas Yojana (PMAY) and other developments such as granting of infrastructure status to affordable housing, 100% tax exemption on profits for […]

  • Investing in mutual funds? Watch out for these two common mistakes
    on June 18, 2018 at 1:00 am

    by Dhirendra KumarAn elderly gentleman, a retired military officer who was once my neighbour, has been asking me pretty much the same question for decades, “What are some good dividend-generating equity funds?” All these years, I’ve been explaining to him, as patiently as possible, that fund dividends are not really dividends, etc., but it hasn’t made much of a difference. It took me a long time to understand that while I was trying to fill this vessel, a liberal supply […]

  • Muthoot Fincorp, NSDC to train 10k youth under PMKVY
    on June 17, 2018 at 7:01 am

    Muthoot Fincorp Limited today announced its partnership with National Skill Development Corporation to train over 10,000 youth over the next three years and make them job ready.With the partnership, Muthoot Fincorp claims to have become the first major private sector player to partner with National Skill Development Corporation (NSDC) to launch the Pradhan Mantri Kaushal Vikas Yojana (PMKVY.2) programme.Under the scheme, Muthoot Fincorp targets to train over 10,000 people over the next three […]

  • Former finance minister Yashwant Sinha quits BJP, says democracy in danger
    on April 21, 2018 at 8:06 am

    Former Union Minister Yashwant Sinha, who has been at loggerheads with the party leadership in recent years, announced on Saturday that he is quitting BJP. "Today I am taking 'sanyas' from any kind of party politics, today I am ending all ties with the BJP," Sinha while addressing the first meeting of Rashtra Manch, founded by him.Sinha said democratic institutions were being undermined under the NDA regime and vowed to work for the protection of democracy in the country. He said that though he […]

  • MahaRERA slaps penalty on 8 Mumbai Builders for violation of rules
    on March 13, 2018 at 5:28 pm

    MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has slapped penalty of Rs 2 lakh to Rs 10 lakh on 8 builders in Mumbai for advertising real estate project without mentioning the authority’s website address and advertising a non-registered project. MahaRERA has taken this action on Suo-Motu basis.Of the 8 realty developers, builder Tridhatu Morya has been fined Rs 10 lakh for advertising a non-registered project. Rest of the 7 builders including Sumit Group, The Wadhwa […]

  • Meet the Amit Shah of China: How a professor-turned-politician powers Xi Jinping
    on March 12, 2018 at 9:02 am

    Now that a constitutional amendment abolishes presidential term limits, it has become possible for China's president Xi Jinping to rule as long as he lives. China's shift from a collective rule indicates how it prizes Xi who has articulated the ambition of China becoming the world leader by displacing the US. Xi has turned China from an inward nation to a country focused on winning the world. Behind Xi's ideological offensive is brainy professor-turned-politician Wang Huning who has guided two […]