India Inc today said the RBI's decision to keep policy rates unchanged was on expected lines, even as it hoped the central bank would soon cut interest to boost demand.
Brushing aside clamour for privatisation of state-owned lenders, BBB chief Vinod Rai said PSBs still have a role specially in the creation of infra in the country.
The demand for diamond jewellery seems to have decreased by 10-15 percent within two months, Assocham said.
Assocham cautioned that overreaction by banks and the investigative agencies, in the backdrop of the PNB fraud, could hurt essential credit disbursement to the industry.
Assocham urged the government to relax the deadline for linking bank accounts, particularly those in the PSBs to Aadhaar.
Assocham said India's luxury market is set to grow to USD 30 bn from USD 23.8 bn by the year-end on back of growing exposure of international brands amongst Indians.
Nearly 56 pc of corporate employees in India sleep less than six hours a day due to high stress levels that arise out of tough targets set by their employers.
In light of PNB fraud case, Assocham said that the govt should surrender its majority control of banks, which should be allowed to function like private sector lenders.
Automation, artificial intelligence and micro-innovation are the three 'megatrends' that will sweep the world beyond 2020, Satya Pal said.
"The PNB incident should open our eyes to the malaise and a huge gap that exists in building a foolproof risk detection and management."
Steel Ministry To Announce Scrap Policy This Year
Draft Scrappage Policy Allows Benefits For Vehicles Older Than 20 Yrs
Steel Secy Arun Sharma Says Policy Will Be Out By December 2018
Scheme Will Come In Effect From April 2020
Telenor India Eyes Bankruptcy Filing, Merger Plan With Airtel May Take Hit
Legal Tussle Over Bank Guarantee Could Also Delay Govt Approval
Economic Times Reports
Lenders To Meet Today To Decide On Essar Steel
CoC May Give Time To Arcelor And Numetal To Rectify Bids
Business Standard Reports
IPO under SEBI scanner
SEBI has sought details of investment made by ICICI Prudential MF
Had to cut its IPO Size To Rs 3,520 Cr from original target of Rs 4,017 Cr
A large chunk was bought by ICICI MF
ICICI MF is ICICI Securities largest public shareholder with 3.82% stake
Board approves proposal for corporate restructuring
Move aimed at simplifying & clarifying structure & holdings
To focus on travel, forex, destination mgmt & portfolio investments
Restructuring will consolidate HR services into Quess Corp
Shareholders will receive 1,889 shares of Quess for every 10,000 Shares Held in Co