अभिनव बिंद्रा के ताज में जड़ा एक और नगीना, मिला शूटिंग का शीर्ष सम्मान- द ब्लू क्रॉस

भारत के एकमात्र ओलंपिक गोल्ड मेडलिस्ट अभिनव बिंद्रा ने एकबार फिर देश का नाम गर्व से ऊंचा कर दिया...

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मिताली से विवाद के बाद रमेश पोवार की छुट्टी, कोच पद के लिए बीसीसीआई ने मांगे आवेदन

टीम इंडिया की अनुभवी बल्लेबाज मिताली राज से विवाद के बाद महिला क्रिकेट टीम के हेड कोच रमेश पोवार की छुट्टी हो गई है।

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खुशखबरः तेल कंपनियों ने दी बड़ी राहत, 133 रुपये सस्ता हुआ एलपीजी सिलेंडर

सरकारी तेल कंपनियों ने आम जनता को बड़ी राहत देते हुए रसोई गैस सिलेंडर की कीमतों में भारी कटौती की है।

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India's GDP growth slows down to 7.1% in Sept quarter

India's economy grew at 7.1 per cent for the second quarter of the current fiscal losing the momentum sequentially from the first quarter when it grew at a nine-quarter high of 8.2 per cent on the back of increase in investment and consumption demand in the economy.A Reuters poll had forecast that the economic growth had likely moderated to 7.4 per cent in the July-September period.The GVA growth for Q2 came in at 6.9 per cent. The manufacturing output grew at a robust 7.4 per cent on the back of a stronger industrial output. The data, released by the Central Statistics Office, comes days after a joint exercise of CSO and NITI Aayog revised downwards the GDP growth for the UPA years between 2005-06 and 2011-12 based on the new base year 2011-12.The Narendra Modi-led NDA government is preparing to go into general elections next year on the back of a stronger economic growth compared to the UPA era.The first quarter GDP growth was mainly driven by robust growth in gross fixed capital formation (GFCF) as it expanded by double digits for the second consecutive quarter (Q4FY18 and Q1FY19) and a pick up in demand in the rural sector.The RBI, in its last monetary policy framework, had projected the GDP growth for 2018-19 at 7.4 per cent (7.4 per cent in Q2 and 7.1-7.3 per cent in H2).The second half could see moderation in economic growth on the back of a liquidity crisis and a likely credit crunch triggered by the crisis in India's shadow banking sector. The economy could see support from the RBI's likely move to hold back any further hike in interest rates as the inflation is expected to remain within its comfort zone on the back of a sharp decline in international crude oil prices.

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GDP Growth Slows To 7.1% Against 8.2% In Previous Quarter

The median consensus in a poll of economists by news agency Reuters had put annual GDP growth at 7.4 per cent in the second quarter.

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Cooking Gas Price Cut By Rs 6.52/ Cylinder

Subsidised LPG rates were last hiked by Rs 2.94 per cylinder with effect from November 1.

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Kin Of Passengers From MH370 Hand Over 5 New Pieces Of Suspected Debris

Relatives of those on board Malaysia Airlines Flight MH370 Friday handed over new-found debris believed to be from the ill-fated plane, hoping it could help shed light on the jet's mysterious...

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'Guests Will Need A Vacation After My Wedding': Priyanka Chopra

Priyanka Chopra and Nick Jonas are to marry this weekend in a two-day ceremony

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"No One Bowled Over By Googly": Harsimrat Badal On Pak Minister's Comment

A day after Pakistan Foreign Minister Shah Mahmood Qureshi said Prime Minister Imran Khan bowled a "googly" to ensure India's presence at the ground-breaking ceremony of the Kartarpur Corridor, union...

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कमजोर रुपये से 7.1 फीसदी पर टिकी भारत की विकास दर

वित्त वर्ष 2018-19 की दूसरी तिमाही में भारत की जीडीपी दर घटकर 7.1 फीसदी रह गई। यह पहली तिमाही में 8.2 फीसदी थी। इस हिसाब से इसमें 1.1 फीसदी की कमी देखने को मिली है।

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एक्टर राजपाल यादव पर चेक बाउंस मामले में आरोप तय, जेल में रहना होगा 3 महीने

बॉलीवुड एक्टर राजपाल यादव को दिल्ली हाईकोर्ट ने चेक बाउंस मामले में तीन महीने की जेल की सजा सुनाई है।

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अफस्पा वाले क्षेत्रों में सैन्य बलों के सदस्यों के खिलाफ एफआईआर को चुनौती देने वाली याचिकाएं खारिज

उच्चतम न्यायालय ने मणिपुर और जम्मू कश्मीर में अभियान चलाने वाले सैन्य बलों के सदस्यों के खिलाफ दर्ज प्राथमिकी को चुनौती देने वाले 350 से ज्यादा सैन्यकर्मियों की याचिकाएं शुक्रवार को खारिज कर दी।

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गोरखपुरः योगी ने रखी गोरक्षनाथ शोध पीठ भवन की आधारशिला, बोले कई लोगों को मिलेगा रोजगार

उत्तर प्रदेश के मुख्यमंत्री योगी आदित्यनाथ ने कहा है कि उत्तर प्रदेश देश का पहला राज्य है जिसमें सफल निवेश किया गया है।

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इस कंपनी ने तैयार की सैटेलाइट, पूरी दुनिया को फ्री में मिलेगा इंटरनेट

चीन की एक कंपनी ने दुनिया का पहला ऐसा सैटेलाइट लांच किया है जिसकी मदद से पूरी दुनिया को फ्री वाई-फाई सेवा दी जाएगी। इस कंपनी का नाम LinkSure Network है। इस कंपनी ने अपने सैटेलाइट को झिंगुआ सैटेलाइट सेंटर से लांच किया है

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बिहार: महिला को निर्वस्त्र घुमाने के सभी दोषियों को सजा का एलान

बिहार के भोजपुर जिले के बिहिया में महिला को निर्वस्त्र घुमाने के मामले में सभी 20 दोषियों की सजा का एलान किया गया है।

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मध्यप्रदेश विधानसभा चुनाव: एक मतदान केंद्र पर फिर होगी वोटिंग

चुनाव आयोग ने मध्यप्रदेश के अनुपपुर जिले के एक बूथ में फिर से मतदान की घोषणा कर दी है, इसके अलवा सतना के किसी ओर जिले में मतदान नही होगा बता दे कि सतना में कई जगह ईवीएम बुधवार को चुनावों के दौरान खराब हो गए थे।

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Government plans to set up NBFC with Rs 2,000 cr to fund food processing firms

NEW DELHI: The government has planned to set up a non-banking financial company (NBFC) with an initial corpus of Rs 2,000 crore to fund food processing industries as part of its effort to boost this sector and double farmers income, Union Cabinet Minister for Food Processing Harsimrat Kaur Badal said on Friday.Addressing a CII event, Badal said the government has inaugurated 15 mega food parks in last four and half years out of 42 sanctioned, in contrast to mere 2 parks between 2008 and 2014 during the UPA regime."We are setting up a fund for lending to food processing industries," she said at the event.On the sidelines, the minister said that she would hold consultation with the finance ministry on setting up of this NBFC. The proposal would also be put before the Cabinet for approval.Asked about the size of the fund, Badal said the initial corpus would be Rs 2,000 crore, but the same would increase significantly later.Earlier, at the event, she highlighted the initiatives taken by her ministry is the last four and half years for the growth of this sector.The minister said the food processing sector is attracting USD 1 billion (around Rs 7,000 crore) foreign direct investment (FDI) annually now."There has been 350 per cent increase in food processing capacity and 720 per cent increase in cold chain capacity. We have created 5 lakh jobs and capacity to process Rs 1 lakh crore worth agriculture produce," she said.She said that her focus had been on implementing all the schemes on the ground.On mega food parks, she said 35 out of 42 parks would be operational by the end of next fiscal year.Badal said the ministry is also providing Rs 10 crore subsidy for setting up of mini food parks near agriculture clusters.The minister asked the industry to help farmers in setting up of co-operatives and Farmer Producer Organisations (FPOs) so that they can access the benefits and subsidy programmes run by the government."We need private sector help for setting up of co-operatives and FPOs. We have money. Connect them to us," she said, while exhorting the industry.Badal termed food processing as "golden sector" and said India has the potential to become world food factory.

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Earthquake Of Magnitude 8.5 Or More Likely In Himalayas, Warns New Study

Growing warnings by scientists of an impending high-magnitude earthquake in the Himalayas have got further credence from yet another study by Indian researchers.

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Yadav Family Drama In Bihar Assembly. Tej Pratap Avoids Brother Tejashwi

Rashtriya Janata Dal president Lalu Yadav's elder son Tej Pratap Yadav today made his first appearance at the state assembly on the final day of the ongoing winter session.

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India is getting serious about its soft power

New Delhi: The government is on a mission to project India’s “soft power” on the global stage by focussing on a range of issues, including “women’s safety” and “convergence of diplomatic, strategic and economic relations with other nations”.A 13-member coordination committee, which includes secretaries to eight ministries, held its first meeting in the Capital on Thursday to draw a roadmap for projecting India’s “soft power”, ET has gathered.The panel is chaired by Niti Aayog vice-chairman Rajiv Kumar and includes, among others, Indian Council for Cultural Relations (ICCR) president and the University Grants Commission chairman.“Yes, it is about soft power and not just for the sake of it. We are looking at a comprehensive approach to all issues. For instance, there is a certain perception about India on ‘women’s safety’. Who is responsible for addressing it? Tourism ministry alone cannot; we are advocating a concerted effort like explaining things to India-based foreign journalists,” ICCR president Vinay Sahasrabuddhe told ET.“Most ministries and departments are working in silos. There is a need for concerted action. While Indian films are popular abroad, they aren’t promoted as much, perhaps due to poor sub-titling or translation. The committee can help find solutions,” he added.This coordination committee is expected to meet every quarter to assess all outstanding issues.

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Why the farmers have stormed Delhi

NEW DELHI: Farmers from different parts of the country are knocking at the doors of Parliament in Delhi. Led by opposition leaders and activists, nearly one lakh farmers reached Delhi on Thursday for a march to Parliament today. All India Kisan Sangharsh Coordination Committee, an alliance of various farmer bodies, has organised the protest called Kisan Mukti March. Almost all the opposition parties including the Congress are supporting the march. The march has disrupted traffic in Delhi on several stretches.What are their grievances? Farmers demand remunerative prices for their produce and freedom from debt. A pamphlet distributed by the activists details their grievances. It says farmers get only Rs 5 per kilo for tomato while consumers pay Rs 30. Similarly, the pamphlet shows such difference in rates of moong dal, apples and milk. “Our life is also cheap. In the last 20 years, over three lakh farmers have committed suicide,” it says. The pamphlet says the farmers have no intention to inconvenience the people of Delhi by disrupting traffic but are here to convey their grievances to the government.What do they want? Protesting farmers demand a special session of Parliament on agrarian crisis to pass two Bills: one pertaining to one-time full loan waiver, the other for a long-term institutional measures to ensure farmers are not pushed into debt again. They also demand implementation of Swaminathan Commission recommendations that say the minimum support price should be fixed at 50% above the comprehensive cost of production. What the government has already doneIn July, the Union Cabinet approved a steep rise in the minimum support price (MSP) of crops, giving farmers the promised 50% return on input costs, aiming at easing farm distress and boosting rural demand. The biggest increase in MSP, about 40-50%, is for coarse grains that are planted by the poorest farmers, mostly in unirrigated areas. The government said the “historic” Rs 15,000-crore move fulfilled the promise made in this year’s budget that MSPs would be determined on the principle that the harvest should get the farmers 150% of the cost of planting and tending to the crop.However, the farmers want the government to do more. “The calculation of support price that the government fixes is erratic and erroneous,” Darshan Pal, a rice and wheat farmer from Punjab, who is participating in the protest told Bloomberg. “The government should include actual rent of land, interest on capital invested and skilled labor rate while calculating the cost of cultivation of various crops.”

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Core sector growth improves to 4.8% in October

Growth of eight infrastructure sectors improved sequentially to 4.8% in October on the back of strong cement, coal and crude oil output. India’s infrastructure sector growth slowed to 4.3 per cent in September hit by a decline in crude oil and fertiliser production and sluggish performance of coal, steel, refinery products and natural gas sectors.Eight Core Industries are Electricity , steel, refinery products, crude oil, coal, cement, natural gas and fertilizers. The Index of Eight Core Industries is a monthly production index, which is also considered as a lead indicator of the monthly industrial performance.The cumulative growth in the combined index of eight core industries during April-August, 2018-19 was 5.5 per cent.

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Be Prepared To Meet Security Challenges In Kashmir: Army Commander

The Army's Northern Command chief Lt Gen Ranbir Singh reviewed the security situation in Kashmir and was briefed about the recent anti-terrorist operations in the valley, a defence spokesman said...

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Ex-Cricket Captain Azharuddin Named Telangana Congress Working President

The Congress today appointed former Indian cricket captain Mohammad Azharuddin as the working president of the party's Telangana unit. The move is being perceived at placating the former...

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KCR Abuses Man At Rally, Congress Tweets Video, He Blames Opposition

K Chandrashekar Rao, the caretaker Chief Minister of Telangana, has been caught on video snapping at a man at an election rally. The video has given the opposition Congress more ammo against Mr Rao,...

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Diabetes Diet: 5 Winter Fruits For Your Diabetes Diet

Diabetics are often advised to refrain from refined carbohydrates and sugary foods as they are known to increase blood sugar levels. Here are some winter fruits you could try.

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सिद्धू बोले- पंजाब के सीएम मेरे पिता की तरह हैं, मैंने उनसे पहले ही बोल दिया था कि पाकिस्तान जाऊंगा

नवजोत सिंह सिद्धू ने कहा कि जब मैंने पहली बार पाकिस्तान जाकर करतारपुर कॉरिडोर का वादा करने की बात की थी तो लोगों ने मेरी आलोचना की थी। मेरा मजाक उड़ाया गया था।

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जम्मू-कश्मीर: बीएसएफ जवानों पर आतंकी हमले का वीडियो हुआ वायरल, 1 जवान हुआ था शहीद, 4 घायल

जम्मू-कश्मीर के श्रीनगर में 29 अक्टूबर को हुए बीएसएफ पर हुए आतंकी हमले का वीडियो एक महीने बाद सोशल मीडिया पर वायरल हो रहा है। यह वीडियो आतंकियों द्वारा बनाया गया था। इस हमले में हाल ही में मारा गया आतंकी नवीद जट भी शामिल था।

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दक्षिणी अफगानिस्तान में अमेरिकी हवाई हमले से महिला और बच्चे समेत मारे गए 23 नागरिक

दक्षिणी अफगानिस्तान में इस सप्ताह अमेरिका के हवाई हमले में महिलाओं और बच्चों समेत कम से कम 23 नागरिक मारे गए। अफगानिस्तान के आम नागरिक 17 साल के संघर्ष का दंश अब भी झेल रहे हैं।

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मद्रास उच्च न्यायालय ने स्टालिन के खिलाफ मानहानि के मामले में कार्यवाही पर रोक लगाई

मद्रास उच्च न्यायालय ने तमिलनाडु के मुख्यमंत्री के पलानीस्वामी के खिलाफ सितंबर में दिये गये बयानों को लेकर द्रमुक अध्यक्ष एम के स्टालिन पर दर्ज आपराधिक मानहानि मामले में कार्यवाही पर रोक लगा दी है।

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करतारपुर कॉरिडोर के बाद कश्मीरियों ने उठाई शारदा पीठ खोलने की मांग

अब पाकिस्तान के प्रधानमंत्री इमरान खान को यह कहते हुए सुना गया है कि उनकी सरकार दूसरे प्रस्तावों पर भी विचार कर सकती है जिसमें कश्मीर के शारदा पीठ की यात्रा भी शामिल है।

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दिल्ली हाईकोर्ट ने सीएम चंद्रबाबू नायडू के करीबी सांसद वाईएस चौधरी को भेजा समन

दिल्ली उच्च न्यायालय ने सोमवार को प्रवर्तन निदेशालय के समक्ष पेश होने के लिए टीडीपी नेता वाईएस चौधरी से कहा। दिल्ली एचसी का कहना है कि इस मामले में कोई सख्त कदम नहीं उठाए जाएंगे।

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बॉम्बे हाई कोर्ट का सेंसर बोर्ड को आदेश, 18 दिसंबर से पहले सौंपे 'जीरो' की रिपोर्ट

बॉलीवुड एक्टर किंग शाहरुख खान की फिल्म जीरो पर बॉम्बे हाई कोर्ट ने आज सुनवाई की है।

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राजस्थान : वरिष्ठ कांग्रेस नेता अहमद पटेल का दावा- पांचों राज्य में बनेगी कांग्रेस की सरकार

कांग्रेस के वरिष्ठ नेता अहमद पटेल ने दावा किया है कि पांच राज्यों में हो रहे विधानसभा चुनाव में कांग्रेस की सरकार बनेगी। जयपुर में प्रेस क्लब में चाय पर चर्चा के दौरान अहमद पटेल ने यह दावा किया। इस दौरान उन्होंने भाजपा पर जमकर निशाना साधा।

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Arvind Subramanian on demonetisation, then and now

NEW DELHI: Arvind Subramanian, India's former chief economic adviser, has called demonetisation "draconian" in his soon-to-be-released book ‘Of Counsel’. He resigned in June this year due to "pressing family commitments". He took charge as the CEA in October 2014 for a period of three years. In 2017, his term was extended for a year. During a panel discussion at the Delhi Economics Conclave in July 2017, Subramanian had refused to give any firm answer to a question whether he supported demonetisation or had expressed his reservations to the government. He indicated he would write a memoir in which he would disclose his views on demonetisation.Now that memoir will soon be out. This is how Subramanian describes demonetisation in his book: "Demonetisation was a massive, draconian, monetary shock: In one fell swoop, 86 per cent of the currency in circulation was withdrawn. The real GDP growth was affected by the demonetisation. Growth had been slowing even before, but after demonetisation, the slide accelerated. In the six quarters before demonetisation, growth averaged about 6.8 per cent (with a four quarter window, the relevant numbers are 8.1 per cent before and 6.2 per cent after)." Though Subramanian had kept his silence on whether he was consulted by the government before announcing demonetisation and whether he supported the government move, it is amply clear for the Economic Survey 2017-18 that Subramanian had no doubts about the benefits that can accrue from demonetisation. In the survey, he refused to deify or demonise demonetisation but was very positive about the long-term benefits of the move and its immediate negative impact vanishing in a short time. " What we can definitely say is that there have been short-term costs but there are also potential long-term benefits which we discuss in detail. Appropriate action can help minimize the former while maximizing the latter," he wrote in the preface.While detailing the short-term cost of demonetisation, Subramanian wrote how demonetisation would benefit in the long term: "At the same time, demonetisation has the potential to generate long-term benefits in terms of reduced corruption, greater digitalization of the economy, increased flows of financial savings, and greater formalization of the economy, all of which could eventually lead to higher GDP growth, better tax compliance and greater tax revenues." Subramanian also warned that "history's verdict" on demonetisation could prove the analysts wrong: "India’s demonetisation is unprecedented, representing a structural break from the past. This means that forecasting its impact is hazardous. The discussion that follows, especially the attempts at quantification, must consequently be seen as tentative and far from definitive. History’s verdict, when it arrives through the “foggy ruins of time,” could surprise today’s prognostications." It seems, while Subramanian was in office, his position on demonetisation was that it would have short-term costs but also long-term benefits depending on effective follow-up actions. He also thought fair evaluation of demonetisation could be done only several years after the move. His description of demonetisation as a "draconian" step in his book is a divergence from his earlier description and analysis of the move.

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Masakazu Yoshimura to take over as new MD of Toyota Kirloskar Motor

Auto major Toyota Kirloskar Motor (TKM) Friday announced a top-level management change with its incumbent Managing Director Akito Tachibana being replaced by Masakazu Yoshimura.The formal appointment of the new managing director will be made at the company's board meeting scheduled for January 22, 2019, TKM said in a statement.Yoshimura, who comes with over 25 years of experience in automobile industry with diverse areas covering product planning, and pricing, will be responsible for broad leadership and strategic direction of Toyota's business operations in India, it added.Most recently, Yoshimura was General Manager at Toyota Motor Corporation (East Asia & Oceania Division).During his India stint, Tachibana was responsible for steering Toyota's long-term vision for India, leading to the overall growth prospects through his strategic drive, the company said.He was instrumental in carving out a strong future for Toyota in India, the company said, it added."Together as Team Toyota, we have defined Vision 2025 which enabled us to grow India and grow with India. I also sincerely appreciate the TKM Team in India for their active participation in realising a safe and clean company," Tachibana said.Commenting on his proposed appointment as Managing Director of TKM, Yoshimura, said: "Customers are at the heart of everything we do and we Toyota Team will enhance our efforts to enrich the society further, thus improve the lives of the people. Taking forward Toyota's core values, I look forward to everyone's continued support and cooperation, to build on the growing momentum of sustainable operations in the region".TKM sells a range of models including Innova and Fortuner in the country.

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Shankar Sharma on smallcap investing & life beyond markets

Shankar Sharma, VC & Joint MD, First Global, in conversation with Ayesha Faridi of ET Now at the Economic Times Global 66880108 66879446 63320681 Market Summit 2018, in Mumbai on Friday. He also answered some audience questions.Edited excerpts: Which stocks have been favouring you besides HDFC Bank? I always buy trash companies anyway. HDFC Bank was an outlier. So I like to buy companies like IndusInd Bank when nobody was interested in IndusInd Bank. That is up 30-40 times in the last 10 years but at that time it was a Hinduja Company and the management was not good. It was trading at book value when all private sector banks were trading at four times book. That is what I say that if you will stick around long enough, you will get lucky. The idea is not to flame out, not to go bust. If you do not go bust, you will get rich. Let us get to know Shankar Sharma beyond markets and his stocks. Let us back track the journey. How did the 16-year-old boy from Dhanbad reach stock markets, reached Mumbai with the dream of making money? I wanted to get rich. Coming from Dhanbad? Yes, Dhanbad has dhan in its name. Dhan means wealth in Hindi. My father died when I was 16 or 17 and we did not have a lot of wealth. I had a life ahead of me which was largely education and I said that I still need to make some money in this period. We had a tenant who was a police officer but obviously he was very interested in the stock market and one day I saw him filling out IPO forms and asked him uncle what is this? He said this is something called a public issue. It was not called IPO then. I asked what is a public issue? He explained. He said borrow Rs 2,000 from your mom and come with me to Calcutta because Calcutta was the place you could submit these forms. There were no banks in Dhanbad which would accept IPO forms. So, we took a four-hour train journey, went and applied for shares… Which company was this? It was called Asian Hotels which was the Hyatt Regency in New Delhi and it turned out to be like a 20 bagger. So, suddenly I was a very rich by 18-year-olds standards and that was my calling. I said this looks interesting. This is the way I can overcome the feeling of insecurity that you get when you are the sole breadwinner of your family. I chased wealth to overcome insecurity. So it was not for the love of stock markets but to get rich? There were many ways to get rich. I thought this was a good legitimate way. Were there any other way which you contemplated? Dhanbad was the mafia town and there are many ways to get rich, I can tell you. Where did the journey take you from there? When I came back to India after my MBA, I jointed Citi. I remember I was sitting one night with my close friend Naganath who was the CIO of DSP Blackrock and we had joined Citi at the same time. We used to live in Bandra very close to each other and I called him over to have a chat about our future because the bank was not looking very good. It was going through this usual perennial Citibank crisis of going bust because of Latin American debt at that time. I said we should jump into the stock market. I find that now I am a little better at doing smallcap investing than earlier because I have the benefit of experience. Earlier, I used to go top-down. Now, top-down also simplifies a lot of things. It cuts out a lot of the individual stock level noise. It all depends on the phase of life that you are in. Now, I do not trade at all. Fifteen years ago, I would only trade. I did not even have a demat account. The philosophy was buy and hold does not work. Now I am older, I think it works brilliantly. I think investing is also a journey in your own personal life the, the way you will evolve as an individual. I always believe one should not follow a style which is inconsistent with your own personality. I could never be a trend follower, buying the good companies kind of guy. That is not my style, that is not the way I lived my life. You do not go for largecaps, but if you had to buy one, what will it be? Maruti. The auto market is hugely underpenetrated and there maybe about three crore cars and 10-12 crore two-wheeles for a 110-120 crore population. There is still a long, long way to go. You will have hiccups in the middle but who can say that in India, auto ownership would not reach 10% of population in 10 years? So, it has to happen and the Maruti stock has corrected 30% and one thing I have noticed is that in a bad bear market, good stocks without leverage typically fall between 30% and 40%. Maruti is down 30% from the top or so and it fits the bill. Do you still like the chemical companies within smallcaps?Yes, because there has been just a secular shift because of the China factor. There are so many stocks. Somebody told me last week and I missed that stock. It was a Rs 50-crore market-cap company now it is like Rs 1,000 crore within a year. I like the entire space for sure.What is your view on midcap stocks now from a valuation perspective? Valuation is the only thing I do not look at when I am investing on a broad basis because you can justify any valuation. Valuation works when you are looking at very extremes like something is five times or the market is five times earnings or 40 times earnings. But there is nothing to say that 15 times earnings is cheap and 18 or 20 times is expensive or 22 is expensive. I do not even know what valuations they are trading at but I do know for a fact that a lot of smallcaps at least are abysmally cheap now. So many stocks are trading with dividend yields of 2.5-3% now. They are half of book value without debt. The order books will deliver very good numbers this year. So that space is extremely undervalued without any doubt. Is there any liquidity risk in smallcap if the global turmoil comes in 2019 or sooner?The smallcaps are like VC investing. You can only enter, you cannot exit. To give you the mafia example, you can only enter the mafia, you can never leave it. I was talking to a FII friend of mine. We have been friends for 25 years and he was cursing India. All FIIs curse India. Periodically, it is a brilliant market; it is a great love-hate market. And I told him that do you remember 20 years back I told you that the whole FII investment philosophy is flawed because you are coming to a poor country hoping to get rich! I do not get this whole thing. Yaar garib to loot ke tum kaise rich ban sakte ho? (How can you get rich by robbing a poor man?). You can get rich by getting money off a richer guy and he said I remember that and you were so right. Here either currency will get you or this liquidity will get you but there is no damn exit. You can get rich by getting money off a richer guy and he said I remember that and you were so right. Here either currency will get you or this liquidity will get you but there is no damn exit.

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Priyanka Chopra And Nick Jonas' Wedding Updates From Jodhpur

Salman Khan's sister Arpita, who is among Priyanka Chopra's close friends, arrived in Jodhpur on Friday morning

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US Airline Apologises After Staff Allegedly Mocks 5-Year-Old Named Abcde

A Texas mother is calling out a Southwest Airlines employee who she said mocked her 5-year-old daughter's name and posted a picture of the child's boarding pass on social media.

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Sensex Closes 23 Points Higher, Nifty Settles At 10,876

Share markets on Friday: Top gainers on the 50-scrip index Nifty were Yes Bank ), Wipro, Cipla, Dr Reddy's and Tech Mahindra.

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Daredevil Cancelled by Netflix After Successful Third Season

The first three seasons of Daredevil will continue to be available for streaming on Netflix.

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Before you take sides, here's a curious thing about GDP debate

How fast did India’s economy grow during the 10 years when Manmohan Singh headed two successive UPA governments and during the four years of Narendra Modi’s current administration? The answer should be a couple of simple numbers, like weighing bags of bhindi, right? Wrong.Today, our growth figures are distilled from steaming potions and boiling brews, concocted in the bowels of some mathematical Mordor. After much toil, we derive bizarrely different figures, each claiming to be the ‘real’ measure of incremental prosperity. In short: duh?In August, an expert group headed by economist Sudipto Mundle said 10 years of UPA propelled India’s growth by an average 8% per year; the Modi years saw this dip to 7.3%. It also reckoned 2010-11 saw 10.8% growth, the highest in history, beating 10.2% in 1988-89 under Rajiv Gandhi’s prime ministership.Emosanal AtyacharFolks who are emotionally affected by such things experienced either apoplectic fits or wild euphoria. Then sarkar banished these figures to online oblivion.But on Wednesday, GoI, with some help from NITI Aayog, unveiled our ‘really-real’ growth figures. Presto, growth during the Singh-led UPA decade has been knocked down to 6.7% annually; and the winner is 7.3%, achieved in the three years of Modi.19th-century philosopher Friedrich Nietzsche wrote, “There is no quicker way of getting the crowd to shout Hosannah, than by riding into the city on the back of an ass.” Assembly polls are underway in five states and general elections are five months off. Expect donkey stampedes.Like bikinis, GDP growth numbers reveal what’s suggestive, concealing much that’s vital. Here are some things concealed by the ‘bikini’. If growth galloped in these Modi years, why are we investing only 26% of total income, down from 2007’s substantial 36%? Falling investment reflects jitters about our future and indicates a slowdown, not turbocharged growth.India’s hinterlands are reportedly seething with anger. Why are states like Punjab, Haryana, Maharashtra and Gujarat, once among India’s wealthiest, in turmoil? Why are jats in north India, marathas in Maharashtra and Gujarat’s patidars scrambling for reservations in sarkari education and jobs, when they’re among India’s best-off, politically powerful groups?Short answer: large-scale farm distress, flat or falling rural wages, and zero opportunity for millions of young people coming into the job market every year. They chafe at government apathy.In a March 2018 paper, ‘Rural Wage Dynamics in India: What Role Does Inflation Play?’, Sujata Kundu, an economist at RBI, breaks up recent farm poverty and prosperity into three phases. The first, between 2002 and 2007, saw average farm wages rise 4% in money terms. But farm inflation, around 4.5%, soared faster, effectively making people worse off.Things changed for the better in the six years of 2007-13, when farm and non-farm wages in villages rose 17% and 15% respectively, much faster than a 10% rise in prices. This prosperity was driven by buoyant commodity rates as well as welfare schemes like the National Rural Employment Guarantee Act (NREGA) implemented by UPA, which cushioned distress in bad years.How We Have GroanThe UPA-era gains fell off a cliff between 2014 and today. Now, farm wage growth, at a measly 6%, barely keeps its head above an average 4% rise in rural prices. Whatever happened to achhe din?Distress spills over to every corner of the economy. Company finances, shackled by low demand and investment, are sputtering. In the 10 UPA years, earnings (or profits) per share for a large sample of Indian companies jumped 24% every year. During the Modi years, this has crawled at a little above 4%.The unwary punter looks at elevated blue-chip indices like the Nifty 50, or the 30-share Sensex, and believes all is well with the world. But do these levels provide any inkling of what’s to come, say, in a year?Between 1986 and 1993, finance economists Menachem Brenner, Dan Galai and Robert Whaley worked with the US’ largest options market, the Chicago Board Options Exchange (CBOE), to design an index of future equity prices. This was based on traded ‘options’, bets on future values of equities. The outcome was VIX, a ‘volatility index’, or the ‘fear factor’ in markets.In India, the National Stock Exchange (NSE) maintains its own fear index. Today, the Nifty VIX trades around 19. This means, in the next one year, the market can swing 19% up or down with a near-70% chance. This is way higher than its level of 14 one year ago; it is 118% higher than the 2017 low.‘Life doesn’t imitate art,’ said Woody Allen, ‘it imitates bad television.’ Make that business TV, where beaming gurus sell snake oil to hapless day-traders. All will be well, they say, if crude collapses, the rupee gets stronger, the economy soars and BJP triumphs on December 11. So why aren’t folks who bet on risk, buying into bad-TV nirvana?

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Bullet train gets first Guj land, thanks to an NRI

NEW DELHI: An NRI octogenarian from Germany handed over her ancestral land in Gujarat for the Mumbai-Ahmedabad bullet train project, making it the first stretch of land to be acquired by the national transporter in the state for the project, an NHSRCL official said Friday.Savita Ben, who runs an Indian restaurant in Germany, is originally from Chansad village and she shifted abroad 33 years ago after getting married, the official told PTI. She had around 71 acres of land in the Chansad area and gave 11.94 hectare to the National High Speed Rail Corporation Limited (NHSRCL) at a cost of Rs 30234.3."She flew down specially to hand over the land for the project and we are extremely grateful to her for having agreed to it. She returned to Germany where she lives with her son and runs a restaurant."This stretch of land is the first piece of land which we have acquired for the project in the state," NHSRCL spokesperson Dhananjay Kumar said.The 508-kilometre corridor would require around 1,400 hectares of land in Gujarat and Maharashtra, of which 1,120 hectares is privately owned. Around 6,000 land owners will have to be compensated.Currently, the NHSRCL has managed to acquire only 0.09 per cent of land in Mumbai for the project and has been dealing with protests across the two states over land acquisition issues.The railways is now conducting consent camps in districts where it needs land to convince farmers to give up their land.

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NRI from Germany gives up land, first stretch for bullet train in Gujarat

NEW DELHI: An NRI octogenarian from Germany handed over her ancestral land in Gujarat for the Mumbai-Ahmedabad bullet train project, making it the first stretch of land to be acquired by the national transporter in the state for the project, an NHSRCL official said Friday.Savita Ben, who runs an Indian restaurant in Germany, is originally from Chansad village and she shifted abroad 33 years ago after getting married, the official told PTI. She had around 71 acres of land in the Chansad area and gave 11.94 hectare to the National High Speed Rail Corporation Limited (NHSRCL) at a cost of Rs 30234.3."She flew down specially to hand over the land for the project and we are extremely grateful to her for having agreed to it. She returned to Germany where she lives with her son and runs a restaurant."This stretch of land is the first piece of land which we have acquired for the project in the state," NHSRCL spokesperson Dhananjay Kumar said.The 508-kilometre corridor would require around 1,400 hectares of land in Gujarat and Maharashtra, of which 1,120 hectares is privately owned. Around 6,000 land owners will have to be compensated.Currently, the NHSRCL has managed to acquire only 0.09 per cent of land in Mumbai for the project and has been dealing with protests across the two states over land acquisition issues.The railways is now conducting consent camps in districts where it needs land to convince farmers to give up their land.

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JLR to lay off staff temporarily at UK plant to adjust vehicle production

NEW DELHI: Tata Motors-owned Jaguar Land Rover (JLR) Friday said it is undertaking adjustment of vehicle production at its plant at Wolverhampton, central England, as a result of which 250 temporary jobs will be affected.The company further said it will undertake a two-week production pause at the plant in December and has asked 500 workers to stay at home although they would continue to draw salaries during the period.Terming the external environment as challenging, the company said it is taking decisive actions to achieve the necessary operational efficiencies to safeguard long-term success."To deliver a growing range of electrified cars for our customers we are making tough decisions, but the transformation of the business relies on this," JLR said in a statement.It further added, "Today, we have confirmed that Solihull will make some changes to its production schedule to reflect fluctuating demand globally and forthcoming infrastructure works resulting from the cessation of Discovery which will move, as already confirmed, to Slovakia early in the new year".The British luxury carmaker, facing headwinds in home market, Europe and China, announced commissioning of a 1,50,000-units, 1.4-billion euro manufacturing facility in Nitra, Slovakia last month. It became the first British automotive company to open plant in the southeastern European nation and the third in the continent.Customer orders will not be impacted by any of these changes, the statement said.The company said that in response to adjustments in vehicle production schedules, the EMC (engine manufacturing centre) will take a temporary pause in production in its machine and assembly halls.Maintenance and salaried staff will continue as normal and those impacted continue to receive full pay for this period, it added.Tata Motors shares were trading 2.88 per cent down at Rs 172.20 on the BSE.

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Another Canadian Diplomat Diagnosed With "Mysterious" Cuba Brain Injury

Another Canadian diplomat in Havana has been diagnosed with a mysterious brain trauma that in 2016 started afflicting Canadian and US officials in the Cuban capital, a senior official said Thursday.

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Virat Kohli Is Flawless Like The Mona Lisa, Says Former Australia Batsman

Virat Kohli will lead India into the four-Test series beginning on December 6.

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Rupee Climbs 21 Paise To Hit 3-Month High Against Dollar

Rupee Vs Dollar: Increased selling of the American currency by exporters and banks and sustained foreign fund inflows also supported the domestic currency, say forex traders.

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Kisan March Updates : संसद मार्ग पर रुका किसानों का मार्च, राहुल गांधी भी होंगे शामिल

दिल्ली की चार दिशाओं से निकाले गए मार्च की दिशा रामलीला मैदान रही। यहां रात भर ठहरने के बाद करीब 200 संगठनों से जुड़े किसान आज सुबह संसद की तरफ कूच करेंगे

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फिर ना'पाक' बयान : करतारपुर में शामिल भारतीय नेताओं को बताया इमरान खान की गुगली

इमरान सरकार के 100 दिन पूरे होने के मौके पर कुरैशी ने कहा कि करतारपुर कार्यक्रम दरअसल इमरान खान की गुगली थी। कुरैशी ने कहा कि इमरान की गुगली का ये असर हुआ जो भारत बातचीत से कतरा रहा था उसे अपने दो मंत्रियों को पाक भेजना पड़ा।

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सीएम के आगवानी में डीएम साहिबा बनी एथलीट, वीडियो वायरल

उत्तर प्रदेश के बहराइच जिले में विकास कार्यों एवं कानून व्यवस्था का जायजा लेने सीएम योगी आये हैं। इस दौरान एक हैरान करने वाला मामला सामने आया है।

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तेलंगाना चुनाव: कांग्रेस ने मो. अजहरुद्दीन को सौंपी बड़ी जिम्मेदारी, बनाया प्रदेश अध्यक्ष

तेलंगाना विधानसभा चुनाव को लेकर आज कांग्रेस ने आज एक बड़ा एलान किया। कांग्रेस ने पूर्व सांसद और पूर्व क्रिकेटर मो. अजहरुद्दीन को तेलंगाना कांग्रेस कमेटी का कार्यकारी अध्यक्ष नियुक्त किया है।

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PoK को भारत का हिस्सा दिखाने के बाद चीन और पाकिस्तान के बीच बढ़ी तल्खी

सीजीटीएन ने कराची में अपने वाणिज्य दूतावास पर हुए हमले की रिपोर्टिंग के दौरान पीओके को भारत का हिस्सा दिखाया था। इसे चीन की तरफ से एक बेहद नाराजगी वाला कदम माना जा रहा है।

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भूमि घोटाला मामले में प्रवर्तन निदेशालय ने रॉबर्ट वाड्रा को भेजा सम्मन

प्रवर्तन निदेशालय ने भूमि सौदे मामले में रॉबर्ट वाड्रा को सम्मन भेजा है।

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ओडिशा : भाजपा को लगा बड़ा झटका, दिलीप रे और बिजॉय महापात्रा ने छोड़ी पार्टी

ओडिशा में भाजपा पार्टी को बड़ा झटका लगा है। पार्टी के दो वरिष्ठ नेता दिलीप रे और बिजॉय महापात्रा ने शुक्रवार को इस्तीफा दे दिया। एसे कयास लगाए जा रहे हैं कि रे और महापात्रा जल्द ही बीजू जनता दल (बीजेडी) में शामिल हो सकते हैं।

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पठानकोट: आर्मी की यूनिफॉर्म में पकड़े गए 4 संदिग्ध, सीआईए की पूछताछ जारी

पंजाब के पठानकोट से बड़ी खबर आ रही है। यहां पुलिस द्वारा चार संदिग्ध लोगों को को पकड़ा गया है और इनमें से एक सेना की वर्दी पहने हुए हैं।

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राजस्थान चुनाव: अमित शाह बोले, भाजपा सरकार में जेल जाने के डर से भागे घोटालेबाज

राजस्थान विधानसभा चुनाव के लिए प्रचार चरम पर है। आज नागौर में अमित शाह ने रैली कर कांग्रेस को निशाने पर लिया। उन्होंने फिर दोहराया कि भाजपा सरकार अंगद का पैर है जिसे कोई हिला नहीं सकता।

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दिल्ली की वायु गुणवत्ता ‘बेहद खराब’, सप्ताह के अंत तक होगी बदतर

दिल्ली की वायु गुणवत्ता शुक्रवार को ‘बहुत खराब’ श्रेणी में रही। इसकी वजह मौसम के विपरित हालात रहे जिनकी वजह से प्रदूषक तत्व तितर-बितर नहीं हो सके।

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इथोपिया: अवैतनिक कर्मचारियों ने आईएल एंड एफएस के 7 भारतीय कर्मचारियों को बनाया बंधक

कर्मचारियों का कहना है कि भारत और स्पेनिश के संयुक्त उपक्रम द्वारा बनाई जा रही कुछ सड़क परियोजनाओं के संभावित समापन से स्थानीय कर्मचारी घबरा गए हैं।

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"Treated Like Furniture," Say 2 Odisha BJP Leaders, Quitting Party

Two senior BJP leaders, Dilip Ray and Bijoy Mohapatra, quit the party in Odisha on Friday, declaring in a joint resignation letter to party president Amit Shah that they would not stand "being treated...

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Deepika And Ranveer Visit Siddhivinayak Temple After Mumbai Reception

Deepika and Ranveer visited the Siddhivinayak Temple amid high security

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Realme U1 vs Realme 2 Pro: What's the Difference?

Realme U1 vs Reame 2 Pro price in India, specifications compared of the two Realme smartphones. What's the difference between Realme U1 and Realme 2 Pro?

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Nirmal Jain: India is great for investors looking at 3-5 yrs or more

Most large, high quality investors are serious about India and are looking for opportunity in terms of valuations, stability and 66877984 66876669 66876115 environment, Nirmal Jain, Founder & Chairman, IIFL, tells Ajaya Sharma of ET Now in an exclusive chat. Edited excerpts:Is the volatility in the market going to persist? Is the end of the corrective phase near? Our markets has not had a bearish phase for 10 months and have been volatile. The markets did very well from 2014 when the new government came to power, given their reforms and the improved outlook on the economy. I think it is a short-term corrective phase of one or two quarters. One should not get too perturbed about it.But if you are a long-term investor and look at the next three to five years, then I am personally very optimistic and very bullish on Indian economy and the performance of the stock markets here. The corrective phase that we are seeing also has made valuations more reasonable. So, if long term investors have not allocated enough on equities, they get an opportunity to increase their weightage in equity assets. Regardless of what happens to the global environment and local politics, these things will play out for a few quarters at best. But if you are a long-term investor looking at three-five years or longer, then India is a great market to invest in.How are you looking at the entire financial space? Do PSU banks merit cherry picking? Some corporate banks are doing exceedingly well and NBFCs seen corrective phase. What is your take?We have been passing through an interesting phase. For the sector to do well as a whole, credit and insurance growth has to do well. Within that, PSU banks have been waiting for infusion of capital to revive, resuscitate and get out of the historical legacy of bad assets that they have. This government has tried to do a little bit but unfortunately few things developed and a lot of work and even the courageous bold step of infusion of more than Rs 2 lakh crore has been negated for the time being at least. If the government comes back to power, then we expect the PSU banks to revive in a sustainable manner. NBFCs now account for more than a third of incremental credit. This is not a small sector and plays a very vital role in economy’s growth and this sector is here to stay. But the latest regulatory crisis have been a wake-up call. People who have been trying to work on the edge in terms of liquidity or in terms of managing their cost of funds, have got a wakeup call and hopefully balance will return. When the stock blows over and the dust settles, we will see that the men are separated from boys and the good players will become stronger and play a meaningful role. Private sector banks have been doing well by and large. I do not think there is any challenge there.What is your take on capital goods sector? Do you see the cycle turning now? A lot of largecap management commentaries seem better; earnings are gradually improving but can this be said about the entire capital goods space?The capital goods sector is very heterogeneous because there are different types of companies -- MNCs, local companies and there are many sub-segments and industries within the sector and each has different factors playing on them. Some of them have competition from imports, some of them have their local demand and supply situation. It is very difficult to make a generic statement but then there are good stocks and good companies in the sector.You also interact with a lot of global investors. What is the idea you are getting about their mood on India? For a very long time, global funds were sellers in India. Now some green ticks are coming back. Global funds are cautious and it is not only the local factors that play on their minds or their decision making process, even the global factors. When the US Fed is hiking interest rates, obviously there is a tendency for the funds to move back to the USA which is a relatively safer haven. So, global investors have to take cognisance of factors like China, US, what is happening in other countries and also what is happening locally here in India. Most of the global investors are watching the developments carefully but most large high quality investors are serious about India and are looking for opportunity in terms of valuations, stability and environment.

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Bihar Prisoner, Admitted In Hospital, Allegedly Gangraped, Case Filed

The victim narrated the ordeal to her inmates and Jail Superintendent after she went back to jail.

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"Pakistan Should Turn Secular If It Wants Good Ties," Says Army Chief

Pakistan has to develop as a secular state if it wants good ties with India, Army Chief General Bipin Rawat said on Friday. After Pakistan Prime Minister Imran Khan's comments urging peace and...

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Banks may soon have no option but pay you higher interest

MUMBAI: Domestic savers could get higher interest incomes as Indian banks must stump up more cash for garnering fresh deposits, which are now being outpaced by credit advances to willing borrowers in an expanding economy.Fresh credit to deposit ratio is at 122% as of November 9, compared with 90% a year ago, show the latest data from the Reserve Bank of India (RBI). That ratio points to a likely increase in deposit rates amid a quickening expansion in loans.The data mean that for every incremental Rs 100 collected in deposits, banks are lending Rs 122, drawing down from their holding of government bonds. Hence, lenders have to raise the share of deposits to meet credit demand. Fresh investments to deposit ratio has come down to 31% from more than 100% a year ago.RBI data also indicate the widening gap in the credit-deposit growth, with credit expanding at close to 15% YoY and deposits climbing at 9%. The trend implies that banks are also relying on borrowed funds to meet credit demand. “The increasing wedge in the credit-deposit growth… is leading to an increase in the market rates for the wholesale deposit even as moderation in the G-sec yields has happened last month,” said B Prasanna, group executive and head of markets, ICICI Bank. “The continuation of this wedge would lead to further pressure on the deposit rates. This has led to an increasing spread for deposit rates and, consequently, lending rates over the risk-free rate.” Many private and public sector banks, including the India’s most valuable lender HDFC Bank, have started raising deposit rates. On Wednesday, the country’s largest lender, State Bank of India, also offered more for one-year and twoyear term deposits.Wholesale deposit rates have also gone up by about 75-100 bps in the last six months. The upward movement in deposit rates has led to an increase in MCLR of various banks by about 50 basis points. In addition to an increase in the MCLR, the spread over MCLRs for various categories of loans is also going up, resulting in an increase in the overall rates in the banking system.“Ideally, credit creates new deposits, and there lies the role of commercial banks,” said Soumyajit Niyogi, associate director at India Ratings and Research. “The current high divergence is an outcome of leakages in the system owing to the heavy upsurge of cash in circulation. Nevertheless, banks are likely to stay light on SLR bond holding, with a greater thrust on deposit mobilisation.”Banks have to park 4% as cash with the RBI under its cash reserve ratio requirements, and mandatorily invest 19.5% in government bonds under statutory liquidity ratio requirement out of every Rs 100 they raise as deposits. This means that banks are left with Rs 76.5 for onward lending. The outstanding credit deposit ratio is 77% compared to 73% last year, pointing to an increasing demand for funds.

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Modi aims his next magic bullet at factories

by Archana ChaudharyPrime Minister Narendra Modi plans to unveil a long-awaited industrial policy soon to boost domestic manufacturing and accelerate economic growth before federal polls next year.Under the new plan, a company need not purchase land or equipment but could lease them on long-contract basis helping lower costs and cut down time on setting up operations, secretary to the Department of Industrial Policy and Promotion Ramesh Abhishek said in an interview. Units located in industrial clusters may be able to share infrastructure.“We have to be competitive,” said Abhishek, who’s ministry has been working on the plan for over a year. “For this we need to upgrade our technology, lower costs, improve logistics, skill our labor. The industrial policy will bring all things together and will come out with recommendations on what needs to be done.”Prime Minister Modi’s administration has been struggling to fulfill one of his key campaign pledge -- creating 10 million jobs a year-- that propelled him to power in 2014 elections. As the country heads to poll due early 2019, the main opposition Congress party is moving to cash in on the disenchantment over unemployment and rising social tensions. 66875996 The reform measure, likely to be one of the last few before the Modi seeks re-election, attempts to attract over $100 billion in investments into the country and kick start the economy. Quarterly growth is expected to have slowed in the three months ended September even as a liquidity crunch at its banks hurts business sentiment before state elections.Rules will be eased for small and medium businesses which constitute more than 90 per cent of the Asia’s third-largest economy. India jumped 23 places to the 77th position in the World Bank’s global ease of doing business rankings announced earlier this month.The government is also completing work on the $100 billion Delhi-Mumbai Industrial Corridor that has been delayed by a decade. Work on $2-billion worth of projects has been completed with companies being allotted land to set up factories.

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How to calculate your retirement corpus

It is one of the most frequently asked questions in ET.com Mutual Fund’s Facebook page: Is my retirement corpus large enough to take care of my retired life? That is why we thought it would be a great idea to do a primer on how to calculate your retirement corpus and how much you need to invest to build it.To begin with, starting early and investing regularly in an equity mutual fund would definitely help you to build a decent retirement corpus. However, you need to work with the real numbers to get realistic target and invest the right amount in an equity mutual fund scheme in line with your risk profile to build a retirement corpus that would last your your entire life.Here’s how you can compute your retirement corpus: Step 1: You need to make a few assumptions like the age at which you would want to retire, life expectancy, rate of return that you will earn from your investment while accumulating your corpus, rate of return on your investments post retirement and inflation rate. You can write these figures in an excel sheet to begin with calculations.For illustration, we are assuming that your current age is 30 years, expected retirement age is 60 years, life expectancy is 85 years, rate of return during accumulation phase is 14 per cent, rate of return post retirement is 8 per cent and inflation is at 7 per cent (See table below).From this data, you can calculate the number of years remaining to your retirement, number of years of your life after retirement, and inflation-adjusted returns. Accordingly, time in hand before retirement is 30 years, number of years after retirement is 25 years (85 yrs- 60 yrs) and inflation adjusted returns is 0.93 per cent (((1+rate of return after retirement)/(1+inflation rate))-1)*100.Current Age (yrs)30Expected Retirement Age (yrs)60No of years to retirement30Life Expectancy (yrs)85No of years after retirement25Rate of return during accumulation14%Rate of return after retirement8%inflation rate7.00%Inflation adjusted return0.93%Step 2: The next step is to find out how much money you need every year to take care of your living expenses after your retirement. You can do this by inflating your current annual expense. For example, assuming your current monthly expenses are Rs 60,000 (or Rs 7.2 lakh per year) and annual inflation rate is 7 per cent, you can calculate your annual expense after retirement using the Future Value formula in Excel. Your inflation-adjusted annual expenses at retirement come to around Rs 54.80 lakh.Post retirement monthly expenditure (inflation adjusted)Current annual expense (Rs)7,20,000Inflation rate7.00%Expense at Retirement (inflation adjusted) (Rs)54,80,824Step 3: Now you are ready to calculate your retirement corpus or the amount you want to accumulate by the time you retire. This sum should be enough to take care of your financial needs for the rest of your life (based on your assumed life expectancy). You can do this by calculating present value of your total expenses for all the years after retirement. You may use Present Value formula in Excel.For our calculations, we have taken annual expenses post retirement Rs 54.80 lakh (as calculated in the last step), 25 years as the number of years after retirement, and inflation-adjusted return of 0.93 per cent to reach the retirement corpus. We have used inflation-adjusted returns because inflation will be eating your returns throughout your life.Our required retirement corpus comes to around Rs 12.28 crore .Total corpus requiredExpense at Retirement (inflation adjusted) (Rs)54,80,824No of years after retirement25Inflation adjusted return0.93%Corpus you will need on retirement (Rs)12,28,23,871Step 4: Once you have successfully calculated your target corpus, you can proceed to find out how much you need to invest monthly to create the target corpus. On an Excel sheet, you may use PMT Formula to find this out. You have to divide the interest rate (14 %, rate of retirement during accumulation phase) by 12 and multiply the number of years to retire (30 years) by 12 to calculate the monthly investment.Well, as per our calculations, you need to invest Rs 22,360 every month in equity mutual funds in line with your risk profile to create the target corpus at the end of 30 years.Monthly Savings required to reach corpusNo of years to retirement30Rate of return during accumulation14%Corpus you will need on retirement1228,23,871Savings Required (Rs)22,360Once you have learnt the calculations, you may play around the figures and assumptions to calculate your desired retirement corpus. You may save this calculator in an excel file and use it whenever you think there is a need to change your retirement plan.

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An account of Gurumurthy's views, in his own words

Swaminathan Gurumurthy, who joined the Reserve Bank of India's board in August, is now one of the country's most influential economic voices, pressing the central bank to loosen policy to help India's smaller businesses.Here are a selection of his views on politics, economics and society, taken from speeches and social media posts.ON THE WEST"I reject not Western knowledge or tech, but embracing models that have not stood test of time and stand discredited. We can't import Western anthropological modernity into Indian society."ON COLONIALISM"Colonisation lasted for 200 years. Now it's abused as one of the worst happenings in the history of world. It dominated the world, our minds, it left its imprint. Even today we suffer from hangovers of colonisation. The colonisers feel guilty about colonisation. But the colonised people are not feeling sad that they were colonised. They revel in things which colonisers left. It is a paradoxical phenomenon."ON THE OPPOSITION CONGRESS PARTY"The Congress agenda is to make India a nation of minorities and castes, which is the best way to destroy the Indian society."ON DEMONETISATION"The Indian economy could have collapsed if demonetisation hadn't happened. It was a corrective. Masses who used only cash for their daily lives massively support demonetisation. Buccaneers using cash to push up asset prices to make a killing for themselves and killed the economy are hostile."ON THE ROHINGYA"They should be sent back before they do what illegal Bangladeshi infiltrators did: take ration cards, driving licences."ON ISLAM"Confined to homes it is as good as any other religion. Once it goes into the streets, it is as violent as fascism and Nazism."ON TOLERANCE"Hinduism has the advantage of doctrinal tolerance. Islam and Christianity suffer from doctrinal intolerance."ON DONALD TRUMP"Trump was working with a plan and was correcting the distortions for America. See the results he produced: the dollar rose by 5.6 percent. Stocks rose by 38 percent in 22 months, a historic rate of return for America by any standards."ON JAPAN"Our financial, investment, trade partner must be Japan. But our mind is hooked to America."ON A FORMER RBI GOVERNOR"Raghuram Rajan destroyed the RBI's independence by making it subservient to global thought rather than pursue India-centric solutions. The RBI can't now move away from that line for fear of going against global financial opinion. RBI has lost its capacity to think for India." (Reporting by Alasdair Pal; Editing by Sanjeev Miglani and Alex Richardson)

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42% of world's coal power stations run at loss: Report

NEW DELHI: Renewable source of energy can provide more power in much less cost than new coal-powered power plants in India, and it costs more to run 62 per cent of the country's coal capacity than to build new renewable power generation facilities, according to a new study.The study titled 'Navigating the economic and financial risks in the last years of coal power' by financial think tank Carbon Tracker, states that phasing out coal power would benefit consumers and taxpayers because India is a regulated market where state support keeps uneconomic plants profitable.However, it is the state which ultimately underwrites investment risk in regulated markets, where coal is sheltered from competition, it said.In countries such as China, India, Japan and parts of the US typically approve the cost of generation and pass it on to consumers.Backing coal in the long-term will threaten economic competitiveness and public finances, because politicians will be forced to choose between subsidising coal power or increasing power prices for consumers, the study said, adding consumers and taxpayers are keeping coal profitable in (many) regulated markets by picking up the bill to support uneconomic coal plants.A phase-out could save them billions, but would hit coal owners' profits, it said.If plants are closed in line with the Paris Agreement the industry could lose USD 92 billion in South Korea, USD 76 billion in India and USD 51 billion in South Africa, compared with business as usual supported by the state, the study by Carbon Tracker said.It said governments should phase out coal in an orderly manner and develop plans to close the least economic plants first."When it is cheaper to build new renewables and gas than to build new coal power, they should ban investments in new coal power. This point has already been reached in Europe, the US, India and parts of Latin America," the think tank said.The think tank has carried out the first global analysis of the profitability of 6,685 coal plants worldwide, representing 95 per cent of all operating capacity and 90 per cent (220GW) of capacity under construction, and has published the results in a new coal power economics portal.In India, the study found that it costs more to run 62 per cent of the country's coal capacity than to build new renewable energy generation facilities and by 2030 that will rise to 100 per cent."India has rapidly become the world's third largest power producer, adding 157 GW of coal capacity since 2006 to bring its 2018 fleet size to 219 GW. Coal was responsible for three-quarters of the 1,323 TWh of electricity produced in 2017," the study said.It also found that new renewables can supply more cheap power than new coal plants in India. Also, phasing out coal power would benefit consumers and taxpayers because India is a regulated market where state support keeps uneconomic plants profitable.

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Rise of online shopping makes warehouses hot property in India

by Pooja Thakur and Dhwani PandyaIndia’s burgeoning logistics sector is gaining favor with property developers and investors, boosted by a growing consumer class’s embrace of online shopping.With the nation’s residential market in the doldrums and good quality office space in short supply, logistics assets are attracting global players such as Brookfield Asset Management Inc., Canada Pension Plan Investment Board and Warburg Pincus LLC.“India’s logistics sector is coming of age,” said Rushabh Desai, Asia-Pacific chief executive officer at Allianz Real Estate. The firm recently partnered with ESR Group for an initial $225 million investment targeting logistics properties in cities including Mumbai, Bangalore and Hyderabad, with a goal of growing to $1 billion in assets.The introduction last year of a uniform national goods and services tax, replacing a plethora of state and federal levies, has helped unify India’s 29 states into a single market. That’s brought a structural shift to the logistics sector as small, fragmented networks are consolidated into large distribution chains with centralized hubs. The rise of e-commerce giants Amazon Inc. and Flipkart Online Services Pvt. has also stoked the need for seamless, last-mile delivery of goods in cities and the country’s remote towns and villages. 66876182 The explosive growth in online shopping is expected to give a further boost. The $35 billion e-commerce market is projected to grow 25 percent a year for the next five years and exceed $100 billion by 2022, according to a report by tech industry body Nasscom and PricewaterhouseCoopers.Warehouses accounted for about $3.4 billion, or 26 percent, of private equity real-estate investments between 2014 and 2017, according to Knight Frank LLP. Returns for a warehouse development can reach 28 percent, and exceed 20 percent in most major markets, according to Knight Frank estimates.The government has also given infrastructure status to the logistics industry, allowing developers to access lower-cost funding for developments.“Over the next decade, we envisage a potent mix of drivers to transform the large yet inefficient, logistics sector,” Alok Deshpande, an analyst at Edelweiss Securities Ltd., said in a note this week.The rosy outlook is even encouraging some developers to shift their focus from housing to warehouses.Panchshil Realty, which built one of India’s Trump-branded towers, is one. While it will complete existing residential projects, it won’t take on any new housing developments, and instead concentrate on logistics facilities and its existing hotel and office assets.“The introduction of the goods and service tax has meant the advent of ‘One-Nation, One-Tax,’ and this has given a big impetus to the logistics sector,” said Prakash Mirpuri, a spokesman at Panchshil Realty. “So far the sector has not been institutionalized and this is a promising opportunity.”

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PE multiples are useless, focus on cash flows: Prashant Khemka

Among financials, we have historically always found a lot of opportunities in well-run private banks, Prashant Khemka, 66876669 66876115 66865058 Founder, White Oak Capital Management, tells ET Now.Edited excerpts:How are you reading the markets?Markets are as usual. Many times over the last few years the markets have been as volatile as now. They are no different in that sense. It is markets as usual. There are certain events over the next six months which only comes once in five years and markets are focussed on those.From an investor standpoint, has 2018 been disappointing? Could one look at 2019 more optimistically for next year?Over a 30-year window, equity markets in India have returned about 14% to 15% and that has not come in a straight line. In certain years, we have been down 40-50% and in certain years we have been up as much as 100%. That is the nature of the market and this year has been flattish, though there has been excitement in the mid and smallcap space. They have been down a lot and the largecaps have held up flattish. It is one of those years where one has not done too poorly.We are just a month away from the year ending, and looking forward to what 2019 could throw at us. The Nifty is back at 10,900. Crude has slumped to a one-year low. The rupee has strengthened to a nine-month high. With so many events lined up, can one say how long the market is going to sustain here?The events like G-20 and OPEC meet, all continue in the backdrop all the time. What is most pertinent for India is the corporate earnings growth which is picking up momentum over the last few quarters are there are clear signs of the long awaited earnings growth picking up from single digits to at least in the teens. The next six months with general elections in May and a the results of the assembly elections coming out in a couple of weeks could see a little more volatility. How does one go about stock picking in such a scenario? Where is the risk- adjusted reward opportunity present in the market?Stock picking is not much affected by these events. It depends on your style of investing as well but you continue to look for good businesses or great businesses which are attractively valued. And those businesses occur in every environment. Volatile environments may give even more opportunities. But since environment is always volatile, you have those opportunities all the time. I do not think that from a stock picking perspective, you can change anything event to event. There are better ways of generating higher returns. Otherwise you just generate a lot of turnover without generating much return. Are you buying in midcaps?Yes as always, we are buying across the market cap segments, large, mid, small across various sectors. The team has a certain investment philosophy and process that leads to certain sectors presenting larger number of opportunities and yet other sectors presenting fewer opportunities and it is more structural in nature and not dependent on specific events. Since you are market cap agnostic, where do you find those alpha opportunities? The alpha opportunities are found across the spectrum around the world, not just in India. But let us start with India first. In developed or emerging markets, there are greater inefficiencies in midcaps and smallcaps. There are certainly opportunities you find in largecaps as well but just the sheer numbers in mid and small caps are much larger and they are by definition under-researched. There are a greater number of inefficiently priced attractive businesses in the mid and smallcap range. We do find a lot of opportunities in mid and smallcap and also opportunities in largecaps but as I said, they are fewer. So, you take chunkier positions in largecaps and the liquidity and the market cap also allows for chunkier positions. In mid and smallcaps, there are large number of opportunities and you do not need to take chunkier positions but you can take larger number of positions. In terms of sectors, it is easier to highlight sectors where we have historically or structurally tended to have greater difficulty in finding great opportunities because our philosophy is focused on superior returns on invested capital, scalability and well managed companies both in terms of execution and governance. We have historically struggled to find opportunities in the energy sector, telecom and utilities. At this time are not able to find opportunities in real estate or in metals. Generally, we do not have much investments in government owned equities and that is the case right now as well. With banks too? We have hardly ever invested in government owned banks be it in India or abroad when I was managing global emerging markets. I think of government owned entities as a bit of a separate asset class just like you have fixed income commodities, private equity, and public equities. There are privately owned public equities and there are government owned public equities and they are quite different. I have usually struggled to find attractive opportunities in government owned entities. So you have told us what are staying away from. But that leaves two large pools which I guess you would be keen on -- financials and consumption. Where are you taking concentred bets in these sectors? There are several sectors. Consumption and financials too, but also technology, also healthcare and industrials more broadly. All these sectors are well represented in the portfolio. Among financials, we have historically always found a lot of opportunities in well-run private banks. The asset quality is of highest focus for us while investing in financials because when you look at three times price to book versus one time price to book, it is a very misleading comparison because the debt is a given. You have to pay back the debt and these banks are leveraged 10 times to equity. When you look at a high quality asset bank which is trading at three times book, you can also see it is trading at 1.3 times assets compared to a bank which may be trading at 1 time or 1.1 time assets.So are you staying with the compounders?Certainly, if you are positioned this way, if you position this way 1.3 times for these well run banks is a lot cheaper. They are very attractively valued than for some of these corporate lenders where you do not know what is in the asset side.I know that HDFC Bank, Kotak Bank, IndusInd Bank have done well. But it is not just about what the compounders do in terms of giving you consistency in returns, it is also how much of outperformance can be generated on the alpha. What about leadership transition? Would you attribute a change in their business model and leadership as a positive to seek value in those businesses?A lot of the managements which are in transition, offer a lot of opportunities. There are certain sectors like banking and IT which are very execution led businesses. There are certain businesses which are brand dependent and a good management or a bad management can do only so much additional good or harm to them.But businesses like banking and IT are very execution dependent. PSU banks have execution driven or execution shortfall problems. Sooner or later, India would have the largest bank by market capitalisation and those are banks which have created value through sheer execution. Management changes are happening particularly in banks which were not well managed in the past. That does present an opportunity and we have used some of these opportunities offered by the recent NBFC related market falloff. We have added to those financials where we believe the new managements would execute well and so their future would look very different from their past.One of my fund manager friends has said that never let a crisis go to waste. Are you sizing up opportunities within NBFCs and saying that some of the high quality names did not deserve to fall as much as they have? Should we on a selective basis look at those opportunities?Financials are heavily levered and the price-to-book multiples mean ultimately less. So a three time going to two times is not as attractive as it may sound. Typically, in financials, given the leverage element we have always been focussed on superior asset quality. Many of those also came under pressure both in NBFCs, particularly in the NBFC space and the team has used that opportunity to build to those positions. Just a little bit on the crisis, call it a mini crisis. What has happened is very interesting since Lehman Brothers, is something you only see once in a lifetime in my view. It is a species of flower that only blooms once in 50 to 100-year timeframe.My whole issue with a lot of these global managers saying 2019 is going to be disastrous is that nobody before 2007-2008 ever saw the magnitude of the problems. So, the very fact that they are calling for it, reduces the chances of it happening?Absolutely true. The fact is that since 2008, everybody is running pillar to post looking for the next Lehman. The odds of sighting the next Lehman have gone down quite dramatically. But what it does do is even when there is a small problem, it can blow it a little bit out of proportion.Do you think that was the case with IL&FS? Was it blown out of proportion?Not particularly, I would not say any particular name necessarily but yes the scare of Lehman comes back to everyone when there is one skipped payment. But the scare and crisis of confidence or lack of confidence can be magnified, maybe rightly because you have learnt something from Lehman fiasco. I did say 50 to 100 years but you can never rule out the odds of the next Lehman in our lifetime.What about consumption? Where are the opportunities?Again opportunities are across the board. When we talk about consumption, we typically think of consumer staples and all but consumption is a very broad category including automobile and what is called consumer durables, We are finding more opportunities in travel and tourism related, entertainment related and also staples related space. We are finding opportunities across the board. Consumption as a theme has never failed investors looking at India. The Indian consumers have always given returns. Shouldn’t a price to earnings of 50 times or even 60 times as a multiple seem heady? In my experience, PE multiples are the most useless and most abused. We have a very deep rooted disregard for PE multiples as a means of valuation. I do not think my team members know or remember PE multiples for current year or next year of any of the stocks in the portfolio.PE multiples are not just useless but they are harmful because you attach meaning to something that is meaningless. So ours is a lot more cash-flow focussed approach and when you look at cash-flow based valuation, some of these names are very attractively valued. I am not suggesting that high PE means attractively valued but that is not a metric you can rely on. An often asked question is why is China trading at more attractive multiples than India? China often trades at half the PE multiple compared to even Russia or EM in general. But that is comparing apples to not oranges but lemons at times. You have to look at the underlying constituents, cash flow generation capability, the governance structure and composition of the index. Government ownership of Indian index is one of the lowest in emerging markets and one of the highest is in China and Russia. As I said earlier, they are two different asset classes. If you separate the government owned or sovereign owned equities and privately owned equities and then compare the respective valuations, they would be a lot more similar. But mix two different asset classes into one index and then compare the composite, which is true for individual companies as well. Russia is 50% plus commodities, you cannot compare an Exxon multiple to a Pepsi or a Google multiple which is what you will end up effectively doing if you compare Russia, leave aside the governance issues.

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Chakri Lokapriya is bullish on PSU banks, here’s why

With fall in oil price and rupee appreciation and the bond yields improving as well, PSU banks are likely to do well, Chakri 66876115 66865058 66863516 Lokapriya, CIO & MD, TCG AMC, tells ET Now. Edited excerpts: It seems like the worst is way behind us. But do you actively hunt for mid and smallcaps now or are you moving away from largecaps already? In terms of financials, we will stick to the frontline names. As far as the other sectors are concerned, wherever there is a good amount of earnings visibility, stocks have corrected quite a lot. The appreciating rupee has reduced the raw material pressure, the input costs and therefore their margins will improve assuming that rupee does not fall back or it does not go back up. Against that backdrop, we look at midcaps which will benefit from the reversed market conditions of and oil fall and a rupee appreciation.Where are you placing your bets in the market currently? A couple of things have happened – with fall in oil price and rupee appreciation and the bond yields improving as well, PSU banks are likely to do well. Also, RBI has eased norms for both PSU banks as well as NBFCs. PSU banks in terms of their capital requirements, have one additional year. It reduces their burden to raise capital tier I in the coming months and as PSBs like State Bank of India is still the leader. It is still very cheap. Also, the credit cost for a largecap like SBI or a midcap like Union Bank has been coming down quite significantly in the last few weeks.. Given that they have low valuations and have lesser capital requirement, PSU banks will able to sustain a rebound in credit growth which will be per course for SBI at about 12-14% and in the case of Union Bank, it was hardly zero. It is close to zero last year so any improvement form there is a welcome thing.Do you think all the bad news is in the price of MCX? Potential competition has now come to the doorstep of MCX because the BSE and NSE. Do you think is it safe to ignore that? I would continue to stay away from all exchanges. Look what happened to National Stock Exchange, NSE. It was supposed to have gone public a couple of years ago and various issues one after the other have delayed its IPO. Also, whether it is BSE, NSE or even MCX, these are all politically sensitive companies in terms of the price that they charge, the services they can offer and if so, at what rate. We are moving into an environment where these will be traded like utilities going forward. There will be multiple de-rating and because of greater regulatory oversight on all exchanges, they have become a commodity provider. Whether you trade on one exchange or the other, what difference does it make if your only differentiation is the price of the trade that you are paying on one exchange versus the other? Against that backdrop, if you fast forward, maybe in next three-four years, the margins may come down even further. Yes, volumes may go up but for a volume play, I would rather stay with lots of other fish in the pond. Do you think the time is right to buy into telecom stocks or do you believe that wait going ahead, we will get better opportunities in the next six months? I would stay away from telecom and not just for just next six months. It is just a volume game. It is a low-margin game and also increasingly a huge amount of debt to service. Vodafone-Idea even after the proposed fund raise will still be trading close to bankruptcy level and that is not a good place to be. Bharti is not much better with ARPUs bottomed out. Maybe there will be some relief in terms of their margins but it is still way off to be an investment case. I would continue to stay away from the entire telecom space of Bharti and Vodafone.

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Tech Mahindra launches new business unit for video services in 5G

Software major Tech Mahindra on Friday announced the setting up of a new business unit to leverage cutting-edge technology and solutions to cater to the expected heavy demand of video services in the 5G ecosystem.With the establishment of the new "Video Integration and Engineering" (VIE) platform, Tech Mahindra said it would aim to improve its strategic position with several video distribution companies in the US."The strategic establishment of the VIE platform will help us increase our expertise in developing niche applications and services as well as cater to the exponentially growing digital video services market," CP Gurnani, Managing Director and CEO of Tech Mahindra said in a statement.According to industry reports, video will account for 90 per cent of all 5G traffic mainly on account of mobile video and Over The Top (OTT) streaming services.5G is expected to grow the global mobile media market over cellular networks from $170 billion in 2018 to $420 billion in 2028.Consumer spend for video, music, and games on mobile is expected to nearly double by 2028 to reach almost $150 billion globally."Our endeavour is to speed up the digital transformation of video for our clients and help reduce the costs and open up other revenue generation avenues for our clients and partners," said Manish Vyas, President, Communications, Media and Entertainment Business, and the CEO, Network Services at Tech Mahindra.

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Nokia 7.1 With Dual Rear Cameras, HDR Display Launched in India

Nokia 7.1 price in India is set at Rs. 19,999 (recommended best buy price) for its 4GB RAM/ 64GB inbuilt storage variant.

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Farmers' Protest Challenges PM Modi Ahead Of 2019 Polls: Foreign Media

Tens of thousands of farmers started their march toward parliament in New Delhi today demanding debt waivers and remunerative prices for crops, underscoring challenges Prime Minister Narendra Modi...

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झांसी में बनेगा मॉडल बस स्टैंड

प्रदेश के परिवहन मंत्री स्वतंत्र देव सिंह ने रोडवेज, आरटीओ और बिजली विभाग के अधिकारियों के साथ समीक्षा बैठक की।

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युवाओं के देशप्रेम से बनेगा मजबूत राष्ट्र

भारतीय जनता युवा मोर्चा कानपुर- बुंदेलखंड क्षेत्र की युवा संसद में कार्यकर्ताओं को राजनीति का पाठ पढ़ाया गया।

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चित्रों के माध्यम से स्वच्छता, कन्या भ्रूण हत्या रोकने का संदेश

अमर उजाला के नारी गरिमा के साझा संकल्प अपराजिता 100 मिलियन स्माइल के तहत बृहस्पतिवार को महरौनी स्थित राजकीय बालिका इंटर कॉलेज में चित्रकला प्रतियोगिता का आयोजन किया गया।

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ठेकेदार की मर्जी से चलता है नगर निगम!

मोहल्ला नरसिंहराव टौरिया में गुलाम गौस खां पार्क स्वीकृत है। पार्क का विकास कराने के लिए 16 लाख रुपये का टेंडर जुलाई में हो गया था, लेकिन अब तक ठेकेदार ने एग्रीमेंट नहीं किया है।

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ठेके की आड़ में चलती मिली नकली शराब फैक्टरी

एसडीएम, सीओ और आबकारी टीम ने छापा मारकर की कार्रवाई

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Prithvi Shaw Ruled Out Of Adelaide Test With Ligament Injury

Prithvi Shaw's injury is a major blow for India just six days before the opening Test against Australia in Adelaide.

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Box Office: Rajinikanth's 2.0 Had A Grand Opening, Per Early Reports

The early estimated opening collection of 2.0 (in Hindi) is Rs 25 crore. "Expecting a bigger final number"

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'Are You Comfortable On A Horse?' Priyanka Reportedly Asked Nick Jonas

Priyanka Chopra and Nick Jonas are getting married in a lavish ceremony in Jodhpur

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"Imran Khan Delivered A Googly And India...": Pak Minister On Kartarpur

Pakistan Foreign Minister Shah Mahmood Qureshi said on Thursday that Imran Khan bowled a "googly" to ensure Indian government's presence at the groundbreaking ceremony of the landmark Kartarpur...

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Ranveer Was Ready To Marry Deepika Padukone 3 Years Ago. But...

Ranveer Singh said six months into the relationship, he knew Deepika Padukone "was the one"

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6 High Protein Dinner Recipes For A Healthy Fill

If you are clueless about what to make next, then these interesting high protein healthy dinner ideas and recipes will come handy to you

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Kerala Government Gets Huge Bill For Flood Relief, Airlifting Ops

The Kerala government has received a bill of over Rs 33 crore to be paid to the Controller of Defence Accounts, and this includes the airlift services provided by the Indian Air Force during the...

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Big New Move From PM Modi Soon For Industry Ahead Of 2019 Election

Under the new plan, a company need not purchase land or equipment but could lease them on long-contract basis helping lower costs and cut down time on setting up operations, secretary to the...

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Ishaan Posts A Pic Of Janhvi. Internet Thinks 'Koffee Conjecture' Is True

Some from Ishaan's Instafam thinks that Ishaan's post appears to confirm Karan Johar's "conjecture" on Koffee With Karan

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Cyclist Did Not See Oncoming Train. Watch What Happened Next…

A video shared by a railway infrastructure agency in Netherlands highlights the dangers of unguarded rail crossings.

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"Hear Us Now," Say Thousands Of Farmers, March To Parliament: 10 Points

Thousands of farmers demanding loan waivers and better prices for their produce started a march towards parliament today under heavy security after camping overnight at Ramlila ground, where they had...

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"Small Men" Tweet Not Directed At PM Modi, Imran Khan Clarifies

Pakistan Prime Minister Imran Khan on Friday said his controversial tweet about "small men occupying big offices" did not refer to Prime Minister Narendra Modi. He, however, did not specify who it...

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Cyclone Gaja Shatters Dreams In Tamil Nadu, Brings Back Tsunami Memories

A hut was all that 50-year-old Farida and her husband had to their name until the Cyclone Gaja blew it away. Today, they squat with their grandchildren near the remains of what was once their home,...

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Jio Sees User Growth in September as Airtel, Vodafone, Idea Lose Out: TRAI

While Airtel's stays at the top in terms of market share, Jio leads by a huge margin when it comes to adding new users.

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Virat Kohli Slammed For Wearing Shorts For Toss Of Warm-Up Test

A photograph of Virat Kohli attending the toss in shorts was posted on BCCI's Twitter handle.

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Divorce Is On, Tej Pratap Yadav Tells Family Court In Patna

A day-long buzz that Tej Pratap Yadav has scrapped his plan to divorce his wife of six months proved baseless on Thursday, as the elder son of veteran Bihar leader Lalu Yadav told a family court in...

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"Small Modi": Chandrababu Naidu's Jibe At Telangana Chief Minister KCR

Andhra Pradesh Chief Minister and TDP president N Chandrababu Naidu Thursday dubbed ruling TRS supremo K Chandrasekhar Rao as "small Modi", alleging he and Prime Minister Narendra Modi were 'cheating'...

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7 Indian IL&FS Employees Held Hostage In Ethiopia By Unpaid Staff: Report

The foreign ministry is investigating claims by expatriates in Ethiopia who say they are being held hostage by local staff that haven't been paid after the shadow lender Infrastructure Leasing and...

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Fire On Sets Of Shah Rukh Khan-Starrer 'Zero' In Mumbai Film City: Report

A fire has broken out on the sets of Shah Rukh Khan-starrer Zero' in Mumbai Film City, news agency Press Trust of India has reported, quoting the police.

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G-20 सम्मेलन में हिस्सा लेने अर्जेंटीना पहुंचे पीएम मोदी, ट्रंप और जापानी पीएम आबे से करेंगे मुलाकात

जी 20 सम्मेलन में शामिल होने के लिए प्रधानमंत्री नरेंद्र मोदी गुरुवार शाम को अर्जेंटीना पहुंच चुके हैं। इस सम्मिट में पीएम मोदी अमेरिकी राष्ट्रपति डोनाल्ड ट्रंप और जापानी पीएम शिंजो आबे से मुलाकात करेंगे।

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Rajinikanth's 2.0 Is 8th Highest Opening Film Of 2018 In Hindi: Reports

As of now, Thugs of Hindostan, which opened on a promising note but tanked subsequently, registered the highest opening percentage in 2018

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Govt waives off Rs 29,000 crore Air India debt

The government has cleared a plan to transfer about Rs 29,000 crore of its Rs 55,000 crore debt to a Special Purpose Vehicle (SPV) that will help reduce airline’s annually interest outgo substantially, a top aviation ministry official said. “The debt will be transferred to an SPV and the government will then be servicing loans. We are discussing whether the debt will be transferred to the SPV from Air India or the SPV will raise fresh loans and clear the national carrier’s debt,” aviation secretary R N Choubey told reporters. This was reported by ET first on November 5, 2018. According to the plan, The government is transferring the airline’s working capital debt of about Rs 29,000 crore to Air India Assets Holding (AIAHL). AIAHL will be headed by Air India’s chairman and other members of the SPV’s six-member board will comprise Air India’s director, finance, and joint secretaries in the aviation ministry and the departments of expenditure, economic affairs and disinvestment.Air India has a total debt of Rs 55,000 crore. Once the revival plan is implemented, the national carrier will be left with debt of about Rs 26,000 crore, mostly on account of aircraft loans.After the transfer, the airline’s annual interest liabilities will decline by Rs 2,700 crore from Rs 4,400 crore to Rs 1,700 crore.As part of the revival plan, the government has also asked Air India to show financial benefits of Rs 2,000 crore annually. Meanwhile, the government had provided interim support of about Rs 980 crore as equity and a sovereign guarantee to raise Rs 2,000 crore from banks, which the airline has availed of. The airline has also raised Rs 1,000 crore from the National Small Savings Fund.

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मानहानि मामले में सुशील मोदी को पटना हाईकोर्ट से मिली राहत

बिहार के उप मुख्यमंत्री सुशील मोदी को पटना हाईकोर्ट से बड़ी राहत मिली है। सुशील मोदी के खिलाफ नवगछिया की अदालत में चल रहे मानहानि के मुकदमे को हाईकोर्ट ने निरस्त कर दिया है।

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482 Rare "Sundhari" Turtles Found Dead In Pond In Uttar Pradesh

Out of 654 turtles, 482 turtles were found to be dead and the rest 172 were severely sick.

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'Sacked Without Notice', Workers Go on Rampage at Phone-Making Unit in Noida

Around 1,200 workers of the Hipad Technology India, which makes Xiaomi and Oppo phones, went on a rampage throwing stones at the building and barging into the facility.

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Sonam Kapoor's Caption For This Pic Is Making The Internet ROFL

Sonam Kapoor celebrated Throwback Thursday with yet another BTS picture of herself from the sets of PadMan

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"Life Is Worthwhile With A Smile": Justice Kurian Joseph Signs Off

Justice Kurian Joseph, number three of the Supreme Court's top ten judges retired on Thursday, with an advice - "life is worthwhile with a smile" - to advocates. Addressing colleagues on his last...

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Nokia 8.1 Alleged Promotional Posters Leaked Ahead of December 5 Launch

Nokia 8.1 is all set to become HMD Global's next smartphone at an official unveiling expected sometime early next month.

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RBI created the IL&FS mess, must be held accountable: Ex-CEA

MUMBAI: Terming the IL&FS crisis as a regulatory failure, former chief economic advisor to finance minister Arvind Subramanian has said the Reserve Bank should be held responsible for the crisis at one of the largest entities it has been regulating.In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes."Now, with the recent shenanigans involving IL&FS being revealed, this failure seems to have encompassed not just commercial banks but also non-bank financial companies. For these failures, the RBI needs to be held accountable," he says in the book, published by Penguin Random House India.The book will be first launched in Mumbai on December 7 and then in Delhi on the 9th.Subramanian calls upon RBI to step up its abilities in two key areas of supervision and part with its mammoth reserves to recapitalise the ailing state-run lenders in a decisive manner."RBI must credibly step up its supervisory abilities, or even be willing to hand this over to a new agency created for this purpose. A second area is recapitalising public- sector banks in a decisive fashion, putting them back on their feet so they can lend again," he says.Subramanian had first made this view in the 2018 economic survey wherein he had called using the excess RBI reserves,including the forex reserves and its huge reserve capital of Rs 9.7 trillion for more productive purposes."The RBI has excess capital that can be profitably deployed for this purpose I realise that in making this suggestion, I am up against all the eminent current and former RBI officials, who argue that the RBI actually needs all the capital it has."These officials command the respect of the public, and for good reasons. But I think they are wrong" he says and quotes the late British prime minister Margaret Thatcher who used to say, 'One man and the Truth is a majority.'Though he is critical on the central bank on the IL&FS crisis, he praises the monetary authority for some of its recent steps like the asset quality review and showing the doors to erring private-sector bank heads.The RBI has done an excellent job of maintaining macroeconomic and financial stability, thanks to its illustrious governors and the strong team behind them, he says and cites the 2015 move of the RBI to initiate an asset quality review, which had an important impact on advancing the twin balance sheet challenge."More recently, RBI has been enforcing some discipline on some of the most troubled public-sector banks via the prompt corrective action framework," he notes and terms the decision on ICICI Bank, Axis Bank and Yes Bank as "impressive actions to account, and ensuring their exit.""As a result of the RBI's strong track record, it has become one of the nation's key public institutions, like the Election Commission, Finance Commission and the Supreme Court, mainstays of the nation that research has repeatedly found to be critical for long-run economic development," he says.The former CEA also calls for a radical solution to solve the twin balance sheet problem and offers privatising public sector banks by amending the Bank Nationalisation Act as an effective way to achieve that.He also flays RBI for not coming out with an effective mechanism to resolve the NPA problem and called for setting up a bad bank as a way forward."So far, the strategy has been to solve the twin balance sheet issue through a decentralised approach, under which banks have been put in charge of restructuring. In the current circumstances, however, effectiveness has proved elusive, as banks have been overwhelmed by the scope of the problem confronting them," he says.Therefore, he says "the time may have arrived to try a centralised approach, or a public sector asset rehabilitation agency. As so far, public discussion of the bad loan problem has focused on bank capital, as if the main obstacle to resolving the TBS issue was finding the funds needed by public-sector banks."Subramanian was the chief economic adviser from October 2014 to June 2018 citing pressing family commitments and has returned to the US. In 2017 his term was extended for a year.

from Economic Times https://ift.tt/2E3CtuG
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