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Friday, June 09, 2017

Jun 9, 2017 - Loans to buyers of affordable houses may rise

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Six years ago, Apple co-founder Steve Jobs addressed a Cupertino City Council meeting in California where he unveiled plans to create "the best office building in the world". It was Jobs' last public appearance before he died. Now, his vision has been realized, and the end result is a futuristic four-storey, circular edifice that resembles a grounded spaceship. Apple Park houses a 1,000-seat auditorium, a 100,000 square ft (9292 sqm) fitness centre, 300,000 square ft (27,870 sqm) of secure research and development facilities, two miles (3.2 km) of walking and running paths, 1,000 bicycles, an orchard, a meadow and a pond. Possibly the coolest office building in the world? More here

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Loans to buyers of affordable houses may rise

Decision to lower risk weight may also benefit HFCs if NHB adopts a similar move

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UN cites Indian start-up fund for government policies on developing digital sector

The report said that "India has created the India Aspiration Fund, a so-called 'fund of funds' with USD 306 million to invest in private venture capital funds in order to expand the pool of, and boost, Indian entrepreneurs."

Cos low on cash can lend more with same capital: Keki Mistry

Due to excess government securities, reducing SLR may not have an impact immediately on banks.

Public sector banks may need Rs 95k crore capital in three years, says Moody's

Moody's estimates that Indian banks may require about Rs 70,00095,000 crore.

Oil prices continue to slide as supply overhang prevails

Brent crude futures were trading at $47.67 per barrel at 0039 GMT, down 19 cents, or 0.4 per cent.

In rural banking, State Bank of India is new poster boy

In rural banking, State Bank of India is new poster boy - For the first woman chairman of the 211-year-old bank, 'go rural' is as important as the bank's digital push. She has already built the reputation and image as a silent performer.

Stressed balance sheets cast cloud over India rebound

Private capital investments contracted 2.1 percent in the first three months of this year despite a surge in government spending, dragging economic growth to 6.1 percent.

Ajay Tyagi, and the job of a Sebi overhaul

Since Ajay Tyagi took the helm from U.K. Sinha, Sebi has focused on clearing the mountain of pending cases, but that’s just the tip of the iceberg. Mint examines the challenges at hand for the new Sebi chairman

Managing the RBI-finance ministry rift

Disagreement is not in itself a bad thing, but the threat of a breakdown in communication certainly is

Modi govt considering new approach for stressed assets in power sector

The Narendra Modi government is considering an asset reconstruction company of sorts to address the problem of stressed assets with power discoms

Indian Oil, HP, BP lose market share to Reliance, Essar, Shell

Indian Oil, BP and HP have lost about 12 percentage points market share in fuel retail business to private firms Essar Oil, Reliance and Shell, primarily due to lower diesel sales

Artha India aims to double portfolio in three years

Artha India Ventures, a Mumbai-based seed-stage investor, plans to double its portfolio to 100 start-ups in three years, managing partner Anirudh Damani says

SBI snaps line of credit to stressed telecom companies

Absence of credit lines could mean cos facing trouble on capital requirements, possibly leading to situations where vendors are not paid and supplies dried up.

Government banks need up to Rs95,000 crore capital infusion: Moody's

Moody’s Investors Service has said that 11 public sector banks, rated by the international ratings agency, will need nearly three to five times the capital promised by the government in its Budget. The agency has said that capital shortage will be a credit weakness for Indian public sector banks

Economy headed for consolidation, says RBI survey

New Delhi, Jun 8 () The economy will gradually consolidate growth in the current fiscal, predicted 28 forecasters surveyed by the Reserve Bank. As per the survey result posted on the RBI website, real GDP (gross domestic product) and real GVA (gross value added) are expected to grow by 7.

NITI Aayog CEO Amitabh Kant predicts the demise of banks in 5-6 years' time

It will be very difficult for physical banks to survive because the cost of running their operation will be so enormous, Kant said.

United Bank of India to cut NPAs by 10% every year

UBI is adequately capitalised as of now and this obviates the need for fresh capital infusion

NSE accepts vice chairman Ravi Narain’s resignation, may settle probe with Sebi

Ravi Narain had resigned last week as Sebi intensified its probe into alleged lapses in high-frequency trading offered via the National Stock Exchange’s co-location facility

Look how HDFC Life and Max India planning to fulfill merger commitment after IRDAI objections

After IRDAI red flagged the merger between HDFC Standard Life and Max Life Insurance, both companies have said that they will continue seeking various options and "remain committed to the merger."

Kinnevik sells remaining stake in Rocket Internet for €200 million

Swedish investor Kinnevik has capitalized on the recent surge in Rocket Internet shares on news of listing of two of the latter’s start-ups Delivery Hero and HelloFresh

IDBI Bank sets up dept to manage bad loans

In an attempt to fulfil capital conservation buffer norms, it may raise about Rs 5,000 crore by selling non-core assets in the current fiscal.

Finance Ministry may push for IFCI, IIFCL merger

The Finance Ministry is examining the possibility of merger of two state-run financ

Bank NPAs roadblocks to growth, make norms more flexible: Assocham

“Unless we bring a sustainable growth of at least 8-9 per cent across the spectrum, we will not be able to generate jobs; so the stakes are high,” he said.

Govt scraps plan to merge three general insurers

Govt had planned to merge Oriental Insurance, National Insurance, and United India Insurance.

Coursera raises $64 million in fourth funding round

With the current round of funding, online education platform Coursera has raised a total of $210.3 million till date

Piramal Enterprises hires 3 investment banks to raise Rs5,000 crore QIP

Investment banks Citi, Morgan Stanley and Kotak Mahindra Capital will conduct Piramal Enterprises’s QIP that could see the firm raise up to Rs5,000 crore

Max Life, HDFC Life 'committed to merger'

Say weighing options after IRDAI expresses reservations on deal

Amazon loaned $1 billion to merchants to boost sales on its marketplace has stepped up lending to third-party sellers on its site who are looking to grow their business, a company executive said on Wednesday.

Kumar Mangalam Birla blames Jio for 'unprecedented disruption' in Indian telecom

Free voice and data offers have made India's flourishing telecom industry suffer a 2% decline in annual revenues, said the billionaire.

4G download speed in India three times below global average

Even worse, average 3G download speeds across the country are less than 1 Mbps, which could go down to as low as 10 Kbps for some 3G subscribers.

Xiaomi mulls third mobile manufacturing unit in India

Chinese mobile company Xiaomi is open to setting up a new manufacturing facility in India, riding high on the demand for its brands.

No salary hikes for Hindustan Unilever's CEO and CFO in 2016-17

Salaries of Hindustan Unilever chief executive Sanjiv Mehta and chief finance officer P.B. Balaji remained the same as in 2015-16

Fewer crorepatis at HUL amid slower growth and role rejig

From 129 in FY16, the number of crorepati managers dropped to 125 in FY17. In FY15, the company had 169 such managers.

Anti-profiteering turns out to be weighty issue for FMCG companies

The key objective of FMCG companies is to increase profits in June because if profits jump after July, it cant be attributed to the implementation of GST.

Petrol, diesel rates to be revised daily from June 16

New Delhi, Jun 8 () Come June 16 and petrol as well as diesel prices across the country will be revised on a daily basis in sync with international rates as happens in most advanced markets.

To cash in on Clean India campaign, HUL enters low-cost toilet cleaner market

New product in powder form priced at ₹10/sachet; launched on a pilot basis

Consumer Activist, bidi workers PH organizations welcome decision to tax all tobacco products under GST

Punjab News ExpressCHANDIGARH: Public Health fraternity along with doctors and bidi workers from across the country, welcomed GST Council’s landmark decision to categorize all tobacco products including bidis as demerit goods, taxing them at the highest tax rate at 28% under GST. This is one of the most critical public health decisions taken by the Indian Government thatwill have a long lasting impact on the lives of India’s 275 million tobacco users. Taxing bidis, cigarettes and chewing tobacco products at the highest GST rate will not only discourage the consumption of tobacco products but will also increase revenue collections for the government.

Australian state to ban sugar-based beverages in hospitals

Sydney, June 8 (IANS) Australia's New South Wales' (NSW) state announced on Thursday that it will ban sugar-based beverages in all hospitals in order to combat increasing obesity.

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