A look back at some of our biggest and best stories from this week. In case you missed them.
Modi-Jinping meeting: India and China have a lot to gain from working together
President Xi Jinping of China and Prime Minister Narendra Modi of India are all set to meet again, in the second set of informal talks between the leaders of the two nations. The first was held in the Chinese city of Wuhan, and this one is to be held in the city of Mamallapuram in Tamil Nadu. While there will always be contentious issues between India and China – the border, their land claims, water and Pakistan – there are many areas of collaboration between the two neighbours.
What Reliance Jio's decision to charge voice calls means for customers and company
With uncertainty looming large on moving to a zero interconnect usage charge (IUC) regime in 2020, telecom operator Reliance Jio has decided to recover the IUC charge of 6 paise per minute for mobile voice calls to other operators from customers. The move comes after Trai released a consultation paper seeking industry view on if the IUC charge removal should be deferred from the current January 1, 2020 deadline.
RBI rejects proposed merger of Indiabulls Housing Finance and Lakshmi Vilas Bank
The Reserve Bank of India has denied approval for amalgamation of Indiabulls Housing Finance and Lakshmi Vilas Bank. The merger, announced on April 2018, has received all necessary approvals, but the all-important nod from the RBI.
Government hikes dearness allowance to 17% from 12%
The Narendra Modi government decided to hike Dearness Allowance (DA) by five percentage points for around 50 lakh central government employees and 62 lakh pensioners, effective retrospectively from July 2019.
India receives first Rafale fighter jet in France on Dussehra
Defence minister Rajnath Singh formally received the first of the 36 Rafale fighter jets in France on the occasion of Dussehra which is being celebrated across India on Tuesday. The fighter jet was handed over at Merignac at a facility of Dassault Aviation, the manufacturer of Rafale jets.
How safe are your bank deposits? Say no to rumours; say yes to history
Over the past few days, the rumour mills have been churning out “skeletons” every few minutes. In fact, YES Bank has a lodged a complaint against what they believe is a malicious campaign against the bank. Take a look at history to help make sense of what depositors should think about.
Impact of corporate tax rate cuts may be smaller than what the stock market believed
The stock market seems to have mostly ‘recovered’ from the shock given by the finance minister by announcing massive restructuring in the corporate tax rates. More than 80 percent of the stocks are now trading at a price lower than the price prevailing before the September 20, 2019 press conference. The short sellers were totally squeezed out of their blood by the manner in which the tax rate cuts were announced.
Patanjali’s troubles come to the fore as CARE downgrades rating
A few years ago, the massive growth and promise shown by yoga guru Baba Ramdev’s Patanjali Ayurved was a bone in the throat of incumbent fast-moving consumer goods (FMCG) majors. As time passed, inconsistencies in product quality, questionable corporate practices, forays into unrelated segments and inability to sustain initial euphoria started weakening the company’s position in the marketplace.
The departure of troubled mortgage lender Altico Capital's chairman and CEO in quick succession in early September, soon after the crisis had started to unravel, raised several eyebrows. Their resignation letters, which have now been reviewed by CNBC-TV18, indicate that excessive interference by the company's shareholders and board members, and divergence in strategy led to both Naina Lal Kidwai and Sanjay Grewal parting ways with Altico as its chairman and CEO respectively.
Why Altico Capital's chairman Naina Lal Kidwai, CEO Sanjay Grewal quit amid crisis