Feb 16, 2016 - Why it would be wise to hold on to banking stocks

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Sree Vijaykumar From the Editor's Desk If you run a startup and have raised money, here are some tips from Avnish Bajaj on conserving cash. Yes, winter has started. For those who want to understand what VCs are really thinking about right now and why the funding bubble occurred in the first place, read this post by Mark Suster. It finally does come down to demand and supply. Near zero interest rates led to funds looking for a place where they could get good returns for all their cash. Tech startups started receiving more money than ever before, leading to a bubble in valuations there and what you see now is the correction. It is fascinating that it's happening in India at the same time as the US. We do live in a globalized world after all - Comment Why it would be wise to hold on to banking stocks The benchmark indices climbed over 600 points in trade on Monday after the Chinese central bank PBoC allayed some fears over depreciating yuan. Complimentary Report : Omni-channel marketing-Do you understand the fundamental shifts that have changed the marketing landscape? Marketers that proactively influence the customer experience across channels and use marketing technologies significantly outperform those that do not. Govt looks to revive investor interest in oil and gas sector Oil ministry crafting a 25-year roadmap for infrastructure, technology and long-term projects Black money: SIT asks DRI to investigate if $505 bn moved out India from 2004-2013 The $505 billion figure was estimated by Global Financial Integrity, a US-based non-profit organization researching illicit financial flows Raghuram Rajan says not in favour of devaluing exchange rate Rajan’s statement signals that India will not join other countries such as China or Japan in pushing down their currencies to boost growth Provision coverage ratio declines sharply for most public sector banks Provision coverage ratio, a measure of the funds set aside by banks to cover bad loans, has declined steeply in the past 3 years for almost all public sector banks MSMEs critical for the Indian economy: Raghuram Rajan The RBI chief said MSMEs are a "very important source of job creation". What private equity wants from investee firms Private equity (PE) investments are on the rise. According to data issued last week by the Securities and Exchange Board of India (Sebi), total commitments raised by three categories of Alternative Investment Funds (AIFs) had crossed Rs 30,000 crore Postal department has overtaken SBI on core banking solution: Ravi Shankar Prasad Postal department has overtaken SBI on core banking solution: Ravi Shankar Prasad - SBI Chairman Arundhati Bhattacharya had in the past expressed reservations about the entry of payments banks. Biocon gets approval for generic Crestor in Europe Crestor, generically called rosuvastatin calcium, is Biocon’s first-ever generic formulation approval in a regulated market Will the Year of the Monkey bring cheer to the Sensex? Whether the rally in the Indian markets will sustain or not depends to a large extent on the currency movement by China and the Indian govt’s ability to stick to the fiscal consolidation plan IT highest-paying sector in India, manufacturing least: Study According to Monster Salary Index (MSI), the IT sector is the highest paying sector in India, but only 57.4 per cent are satisfied with their salary. Liberalization revolutionized telecom, insurance missed out While telecom has seen rapid deregulation post liberalization, insurance has struggled to gain traction and is still led by state-owned firms Collector, minister to meet today over merger Guardian minister Chandrakant Patil and district collector Saini will meet on Monday to finalise the proposal to merge 17 villages with civic limits before sending it to the state government for approval. Sebi in talks with govt for tighter collective investment norms Capital markets regulator wants to be empowered to regulate all such schemes irrespective of corpus size Investors try to ride out the storm The growing list of improbable developments is indicative of a global system that is signalling a major transition Complementary strengths will boost EMC-Dell merger Rajesh Janey, president of EMC Corp.’s India and Saarc, speaks about EMC India’s growth prospects and the likely impact of the Dell merger The 1991 moment of Indian banking State Bank of India, Bank of Baroda and others declared poor third-quarter results last week after being pushed by the central bank to set aside money to cover bad loans. Reliance Communications-Aircel merger may run into debt hurdle The telecom merger is subject to the condition that the two parties each reduce their debt to less than Rs10,000 crore Finance Ministry asks PSUs to buy back shares, pay higher dividends With just 45 days left for the fiscal to end, the govt mobilised just Rs 13,330 crore from sale of stake in PSUs as against the budgeted target of Rs 69,500 crore. Breaking: Government of Maharashtra Unveils the maiden Retail Trade Policy for the state Retailers Association of India (RAI) has been working with Government of Maharashtra to create a retail policy for the state. On representation by RAI, the Government of Maharashtra unveiled Maharashtra Retail Trade Policy. This is the maiden retail trade policy for the state. DLF to launch new luxury property, bring in more brands in Emporio and Promenade malls Madhukar said over the past year 25% of the inventory in Promenade has gone through a churn as the company looked at reworking and relocating store formats. Gati to invest in logistics start ups to expand reach, scale Logistics major Gati today said it will invest in start ups in the delivery space as the firm tries to achieve its target of delivering 1 million packages per day by 2020. Lack of investment in retail technology is an advantage for Indian retailers: Accenture Strategy's Robert Wollan Wollan talks about the retail technology scene in India and how Accenture Strategy is helping retailers to be on the top of their game. Aim to open 20 stores; invest around $200 mn in Maha: Walmart One store requires an investments to the tune of USD 8-10 million with capabilities of employing around 2000 people in one store, said Krish Iyer, President & CEO, Walmart India. Hypercity names Ramesh Menon as new CEO Yogesh Bisht was named vice president (human resources Paytm ties up with offline electronic stores to list them on their online platform   Paytm has entered omni-channel retail model by tying up with offline players in the mobile and electronic appliances sector and enabling them to Ratan Tata invests in retail-tech startup SnapBizz Bangalore based retail-tech startup SnapBizz has announced that it has raised funding from Ratan Tata, Chairman Emeritus, Tata Sons. In Future Group's new mentoring plan anyone can be a Kishore Biyani Under the 'Ban Jao Biyani' programme, employees who show promise for entrepreneurship are given charge of businesses to run Binny Bansal plans for Flipkart to take on ecommerce giants like Baidu, Alibaba Techstory articles  'Digital India' to transform country: Ravishankar Prasad Communications and Information Technology Minister Ravi Shankar Prasad today said the Digital India initiative will transform the country into a digital society and a knowledge economy. Reliance Jio ties up with eight global carriers to launch products, services in their markets The nine-member alliance has established ties with 30 innovative partner businesses, including AirBnB, Celltick, Disconnect, Idoomoo, Spotify, etc. DoT Secretary Says Telecom Manufacturing Ecosystem Is Growing Stronger J S Deepak said the main and unique selling proposition that they have is the ability to provide specific solutions to fight problems at affordable costs. Japanese telecom giant SoftBank plans its biggest buyback ever Japanese telecoms conglomerate SoftBank Group said on Monday it will purchase up to 500 billion yen ($4.4 billion) worth or as much as 14.2% of its own shares, in its biggest buyback to date. This Is How Indian Telecom Industry's Future Looks Like Data services contribute 20.8% to the UK-based telco’s current service revenues in India and the company is witnessing a surge of 10 million data su.. Airtel challenges TRAI's new interconnection rates in Delhi HC The Delhi High Court on Friday sought response from TRAI after Bharti Airtel submitted a plea challenging the regulator’s Interconnect Usage Charges (IUC), fixing termination charges for landline to wireless as zero paise, and wireless to wireless at 14 paise per minute, reports Economic Times. Trai to fix inter-connection charges for VoIP calls After the Department of Telecom (DoT) will amends the clause of the Unified License framework, the Telecom Regulatory Authority of India (TRAI) will come up TRAI Net Neutrality order: Now Vodafone, Idea 4G packages under scanner TRAI officials said that the packages by Vodafone and Idea, though distinct from Wynk, violate differential tariff regulations. Mobile wallets beware, UPI is here The demise of mobile wallets in India would be quite a shocker. What will happen to all the seamless payments to your taxi vendors and favourite sumptuous food deliveries?   IndoSpace planning to invest $1 billion in India over the next five years to take its total investment in the county to $1.75 billion IndoSpace said it will invest $1 billion in India over the next five years to expand its real estate development projects. Mobile wallet mRUPEE partners with IRCTC to offer easy payment option for rail tickets The tie-up with enable travellers to pay for rail tickets via mRUPEE wallet Postal department has overtaken SBI on digital connectivity: Ravi Shankar Prasad The postal department has surpassed the country's largest lender, SBI, in terms of digital connectivity even before its payments bank launch. 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