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Day of reckoning nigh for India's 'pigs with lipstick' banks
Day of reckoning nigh for India's 'pigs with lipstick' banks - Livemint - Livemint
The day of reckoning is coming: The Reserve Bank of India is due to complete its audit of all 50 of the country

ICICI Bank unveils mobile payment solution to make payment from NFC enabled smartphones
ICICI Bank unveils mobile payment solution to make payment from NFC enabled smartphones - Economic Times
Using the virtual cards, a customer can initiate payments from NFC enabled smartphones by just waving phone near a contactless merchant terminal.


Who will buy Kingfisher House?
Who will buy Kingfisher House? - Livemint
The base price for this multi-storey building, with a built up area of over 17,000 sq.ft, has been set at Rs150 crore


HDFC Bank launches 'SmartUp' for startups
HDFC Bank launches 'SmartUp' for startups - Times of India - Times of India
Mumbai, Mar 16 (IBNS) HDFC Bank Ltd., on Wednesday launched SmartUp, a first-of-its-kind dedicated solution for start-ups, to fulfill all their banking needs.


Cash-starved developers tie up with bigger rivals to fund projects
Cash-starved developers tie up with bigger rivals to fund projects - Livemint
Large firms step in as development managers for smaller developers in return for a shareof revenue and profits


Qatar Airways still keen on buying stake in Indigo
Qatar Airways still keen on buying stake in Indigo - Livemint
Qatar Airways group chief executive of Akbar Al Baker says his airline could not invest in IndiGo

Kris Gopalakrishnan invests in education start-up Avagmah
Kris Gopalakrishnan invests in education start-up Avagmah - Livemint
Avagmah to use the investment to enhance its technology and in customer acquisition


Banks put up a united front on stressed assets
Banks put up a united front on stressed assets - Livemint
The message from bankers to the top management of stressed firms was clear: banks are willing to help only if the need is genuine and promoters are doing their bit


Finance ministry body recommends steel import duties
Finance ministry body recommends steel import duties - Times of India - Times of India
NEW DELHI An arm of the Indian finance ministry has recommended maintaining import duties on some steel products until March 2018, a government document showed on Wednesday, in a move to support the local steel industry and protect mills from cheaper imports. The government imposed a provisional safeguard import duty for 200 days on some steel products in September 2015 and last month set a floor price on imports to deter countries such as China from undercutting local mills, the first such move in more than 15 years - Firstpost



India Post payments banks may offer DBT of various ministries
India Post payments banks may offer DBT of various ministries - Economic Times
The proposed payments bank of Department of Posts is likely to provide DBT facility of various ministries, Parliament was informed today. "The India Post Payments Bank (IPPB) is likely to provide "Direct Benefit Transfer (DBT) of social security




India received Rs 1.31 lakh crore in private equity in 2015, best ever: Report
India received Rs 1.31 lakh crore in private equity in 2015, best ever: Report - Daily News Analysis
India received Rs 1.31 lakh crore in private equity in 2015, best ever: Report - Sectorwise, IT and ITES continued to be the biggest sector, as this space attracted $1.3 billion (nearly Rs 8,700.25 crore) in 93 deals, PwC said in its latest report.


Indian banks have very low capital compared with banks in other countries
Indian banks have very low capital compared with banks in other countries - Livemint
India fares poorly when it comes to the yardstick of financial soundness expressed as the ratio of capital to risk-weighted assets


More online access to MF direct plans
More online access to MF direct plans - Livemint
Various new online platforms make investing in direct plans easier, but some process glitches exist


Pay interest on savings account every quarter, RBI tells banks
Pay interest on savings account every quarter, RBI tells banks - Livemint
The lower periodicity of interest payment may put a burden of Rs500 crore on banks


Saudi's IDB Group pitches for Islamic finance in India
Saudi's IDB Group pitches for Islamic finance in India - Times of India
Saudi Arabia-based Islamic Development Bank (IDB) Group will approach the RBI to highlight the benefits of tweaking rules to allow Islamic finance in India. The meeting comes ahead of Prime Minister Narendra Modi

SBI to offer car finance to Uber drivers
SBI to offer car finance to Uber drivers - Times of India
SBI ties up with Uber to provide instant vehicle financing - The scheme would encourage skilled drivers to become an entrepreneur.



Mallya case: Sebi probing allegations of round-tripping of USL shares
Mallya case: Sebi probing allegations of round-tripping of USL shares - Livemint
Sebi is looking into information shared by UK financial regulator about six accounts linked to Vijay Mallya


IFC raises Rs200 crore via 15-year Masala bonds
IFC raises Rs200 crore via 15-year Masala bonds - Livemint
This is the third Masala bond issuance by International Finance Corporation


Cleaning up India's economic lifeline
Cleaning up India's economic lifeline - Livemint
Most toilets in train coaches are a hole with a flushing system, so that the excreta falls straight on to the tracks, corroding them and spreading disease


Essar Steel struggling to execute plan to improve financial health
Essar Steel struggling to execute plan to improve financial health - Livemint
Comprehensive plan chalked out in Nov to improve operations and financials remains a work in progress


Private equity funds, textile companies vie for debt-ridden Alok Industries
Private equity funds, textile companies vie for debt-ridden Alok Industries - Economic Times
The potential suitors are believed to be more keen on individual assets than taking control of the listed Alok Industries.



Gaja Capital makes final close of Fund III at $240 million
Gaja Capital makes final close of Fund III at $240 million - Economic Times
Mid-market private equity firm Gaja Capital has made the final close of its third fund - Gaja III - at $240 million, up from its earlier target of $225 million, at a time when uncertainty continues to dog fund raising efforts by domestic PE firms.


Sajjan Jindal-led JSW Energy set to acquire 1,000 MW power plant for Rs 6,000 crore
Sajjan Jindal-led JSW Energy set to acquire 1,000 MW power plant for Rs 6,000 crore - Economic Times
Cash-crunch due to the downturn in steel prices and burgeoning debt have forced JSPL to shed assets.


Wary of round tripping, lenders' loan recovery efforts hit a fresh hurdle
Wary of round tripping, lenders' loan recovery efforts hit a fresh hurdle - Economic Times
Banks are encountering a new problem as they try to recover bad loans by selling defaulters' assets.


Kingfisher House fails to get any bids at SBI auction
Kingfisher House fails to get any bids at SBI auction - Livemint
A real estate adviser said the asking price for the headquarters of Vijay Mallya

Can monetary policy increase inequality?
Can monetary policy increase inequality? - Livemint
Increase in money supply is likely to benefit those who are more connected to financial markets


Access Asset Managers, others to buy 25% stake in Alliance Insurance Brokers
Access Asset Managers, others to buy 25% stake in Alliance Insurance Brokers - Economic Times
Private equity firm Access Asset Managers and some other investors will put in Rs 55 crore to acquire 25% stake in Alliance Insurance Brokers.



India's February trade deficit narrows to lowest since September 2013
India's February trade deficit narrows to lowest since September 2013 - Times of India
India's trade deficit narrowed in February to its lowest since September 2013 as exports contracted at a slower pace, with demand remaining weak from Europe. India has been struggling with weak global demand although the blow has been softened by a collapse in its oil import bill.



Asset sales do little to cut debt pile of conglomerates
Asset sales do little to cut debt pile of conglomerates - Livemint
Top 10 debt-heavy firms, as listed in Credit Suisse


ShopClues set to buy mobile payments start-up Momoe
ShopClues set to buy mobile payments start-up Momoe - Livemint
Development in line with ShopClues

India Post selects Deloitte as consultant for payments bank
India Post selects Deloitte as consultant for payments bank - Economic Times
The pilot for the payments bank is set to start from January and the full-fledged operations will start by March.


Some caveats for bank merger zealots
Some caveats for bank merger zealots - Hindu Business Line
The global experience has not been inspiring. A focus on size of banks detracts from managerial concerns


India's banking sector well capitalised: Lagarde
India's banking sector well capitalised: Lagarde - Hindu Business Line
Says big-ticket infra investments could stimulate economy


DBS to buy Royal Bank of Scotland's Indian onshore operations for Rs 1000 crore
DBS to buy Royal Bank of Scotland's Indian onshore operations for Rs 1000 crore - Economic Times
The transaction includes three main parts of RBS India operations

Government plans to ease fund-raising by startups
Government plans to ease fund-raising by startups - Times of India
The government is looking at a host of measures to ease fund-raising by startups as it plans to make the ecosystem more attractive for them. ??Sources said that the finance ministry is holding consultations with other agencies about rules related to wholly owned subsidiaries.





Why the banks are in such a mess
Why the banks are in such a mess - Livemint
Bank loans outstanding to infra and metals sector currently account for over half the total loans outstanding to industry. It wasn

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
This has been a good week. Parliament has passed 7 bills, including the Real Estate bill and the Aadhaar bill. Bills indicate intent, the action still has to happen on the ground. Action of the kind taken by Temsutula Imsong, who is cleaning up Varanasi, one ghat at a time. Temsutula is co-founder of Sakaar Sewa Samiti, a non-profit involved in rural development. It's people like her and her army of volunteers who are turning words into action, rather than the local government, which dumps the garbage across the river whenever a VIP arrives. The citizens of India are waking up to the consistent calls to action from the top, it's time the government machinery woke up too - Comment

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Godmen like Baba Ramdev use corporate smarts to combine knowledge of something real like Yoga or Meditation (Sri Sri Ravi Shankar), with the fears and insecurities of the masses to create multi-million dollar organizations. Their popularity can get chief ministers (or even the prime minister) to endorse them. They sell everything from noodles to a medicinal herb that promotes fertility (its ancient name, which means "son's life seed", hints unethically at particular effectiveness in spawning male offspring). They are seeking corporate-style synergies between religious messaging, personal celebrity, commercial success and political influence. Welcome to 21st-century spiritual entrepreneurship! More in this Economist article - Comment

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
One can evaluate the Kingfisher mess through two lenses - a business lens and a human lens. In the case of Vijay Mallya, it is extremely difficult to separate the two, because his personality and the Kingfisher brand have been intertwined for so long. He used the media attention to his business's advantage when times were good. Unfortunately, for him now, this means a trial by media, when things are down. The business issue is one of loan default and companies ranging from SBI to GMR are now filing cases against Kingfisher. The law should take its own course here. The fact that there are bigger defaulters who have not been brought to justice does not hold ground as an excuse to go easy on Kingfisher. Through a human (and moral) lens, throwing a birthday bash with 600 guests, when your employees have not been paid a salary for more than a year is something that is very tough to reconcile. The Indian business fraternity seems divided on their reaction to this situation. - Comment

Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Nobel laureate Joseph Stiglitz, economist and professor at Columbia University, suggests that American inequality didn't just happen; it was created (and is getting worse). In this excerpt from his book, he says that those at the top have learned how to suck out money from the rest in ways that the rest are hardly aware of - that is their true innovation. Many of the individuals at the top of the wealth distribution are, in one way or another, geniuses at business (rather than science or technology, which are what truly drive human progress). Steve Jobs was number 110 on the Forbes list of the world's wealthiest billionaires before his death, and Mark Zuckerberg was 52. But many of these "geniuses" built their business empires on the shoulders of giants, such as Tim Berners- Lee, the inventor of the World Wide Web, who has never appeared on the Forbes list. Berners-Lee could have become a billionaire but chose not to - he made his idea available freely, which greatly speeded up the development of the Internet. Indian inequality is even worse and has additional dimensions such as crony capitalism and caste/class based discrimination, where the powerful reinforce the inequality to stay wealthy at the expense of the poor - Comment



New chapter for Rajat Gupta, but fund he founded still struggles
New chapter for Rajat Gupta, but fund he founded still struggles - Livemint
The focus at New Silk Route for some time now has been to exit investments and return capital to investors


Amazon applies for e-wallet licence, takes on Paytm, Flipkart Money
Amazon applies for e-wallet licence, takes on Paytm, Flipkart Money - Economic Times
?Amazon plans to launch the digital wallet by mid-year but much will depend on RBIs nod, a person who familiar with the matter said


Scrapping Rs500, Rs1000 notes a costly idea
Scrapping Rs500, Rs1000 notes a costly idea - Livemint
An analysis of how much it costs RBI to print a new, high-value currency note, and impact on the exchequer if it is pulled out of circulation


How to choose real estate investments
How to choose real estate investments - Livemint
If you are considering investing in the realty sector to profit from capital value appreciation and rental income, you will have to choose between residential and commercial real estate


Breaking the glass ceiling: Meet the female brigade that is leading the charge at SBI
Breaking the glass ceiling: Meet the female brigade that is leading the charge at SBI - Economic Times
Arundhati Bhattacharya has been the face of not only the State Bank of India, but of the entire public sector.


ICICI Bank raises $700 million via offshore 10-year bonds
ICICI Bank raises $700 million via offshore 10-year bonds - Livemint
The lender will issue 10-year bonds through its Dubai International Finance Centre (DIFC) branch, according to a banker


What IMF has to say on food price inflation
What IMF has to say on food price inflation - Livemint
Food inflation is mostly structural and govt policy to resolve this seems to mostly result in further accentuating the problem due to multiple interventions


Global pension, sovereign wealth funds to invest $50 bn in infra
Global pension, sovereign wealth funds to invest $50 bn in infra - Livemint
Indian infrastructure firms are trying to sell assets since they have to service long-dated liabilities, say analysts


Kingfisher Airlines brand valuer Grant Thornton now in dock
Kingfisher Airlines brand valuer Grant Thornton now in dock - Livemint
Serious Fraud Investigation Office looking at how Grant Thornton arrived at the Rs4,100 crore valuation


Life insurers form repository to fight fraud
Life insurers form repository to fight fraud - Livemint
Life insurance customer applications and claims will be screened against a database to detect discrepancies



We will use imported LNG as fuel for railways: Dharmendra Pradhan
We will use imported LNG as fuel for railways: Dharmendra Pradhan - Livemint
Oil minister Dharmendra Pradhan says the government is preparing a road map for making available affordable fuel for mass transportation


Is India Inc coming back to Indian banks for their credit needs?
Is India Inc coming back to Indian banks for their credit needs? - Business Standard
The recent spurt in bank credit growth may lead to believe that Indian firms are coming back to the banking fold for their credit need, but the reality could be more nuanced. Credit grew 11.6 per cent year on year from 9 per cent in October. Surely,


Global investors increasingly grow disillusioned with Indian economy
Global investors increasingly grow disillusioned with Indian economy - Economic Times
After Credit Suisse downgraded the Indian market, Deutsche Bank has come out with a report flagging global investors concerns over Indias reform process.


Modi has changed investors' perception of India: Takehiko Nakao
Modi has changed investors' perception of India: Takehiko Nakao - Livemint
It is better for India to be more open and integrated to the value chains and production networks of the world, especially in East Asia


Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
They are boring. They are useless. Everyone hates them, so why can't we stop having meetings? This New York Times article explores this issue. You can make a whole career of planning, holding and attending meetings and never dare contemplate the possibility of your being exempt. They can't be avoided, but maybe they can be made bearable. Perhaps Paul Graham's prescription for the only kind of "allowable meeting" is a starting point. "There are no more than four or five participants, and they know and trust one another. They go rapidly through a list of open questions while doing something else, like eating lunch. There are no presentations. No one is trying to impress anyone. They are all eager to leave and get back to work." - Comment

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