The firm has also raised USD 500,000 investment led by Blinc Advisors. Eduvanz said it will utilise the funds for strengthening it artificial intelligence-based lending technology for loan appraisal and expand its operations-pan India.
"Economic theory suggests that larger budget deficits lead to higher inflation as more Government spending (if this spending is not directed towards the creation of productive assets) leads to an increase in the overall price level," says Saurabh Mukherjea is the CEO of Ambit Capital.
Rajasthan Chief Minister, Vasundhara Raje, today announced one-time loan waiver of up to Rs 50,000 for small and marginal farmers in the state, which would cost Rs 8,000 crore to the exchequer.
In a bid to end SGX Nifty and Sensex futures trading abroad, Indian exchanges have come together and have issued a press release. Henceforth, they will not provide data on Indian indices or stocks to any foreign exchanges. In an interview with CNBC-TV18, Surjit Bhalla, PMEAC Member shared his views and readings on this move.
India’s infrastructure financing requirement has been estimated as approximately Rs 50 lakh crore in the next five years
Speaking at the valedictory session of the 4th South Asian Insurance Regulatory Meet and International Insurance Conference here, he said investments made by the insurance companies in various sectors amounted to Rs 30. 76 lakh crore by the end of 2016-17, of which over Rs 2. 40 lakh crore was in the infrastructure sector.
Official data for consumer price inflation (CPI) for January, which stood at 5.2 percent in December last, would be released by government tomorrow.
V2 Retail was formerly known as Vishal Retail. The brand "Vishal" was sold in the year 2011 due to operational losses. The company was later renamed V2 Retail Ltd.
Debroy has come up with "The Book of Limericks", a compilation of hilarious five-liners on economic issues, citizen's concerns and major happenings with illustrations by Sayan Mukherjee.
The sales volume witnessed growth in cities such as Pune, Mumbai and Bengaluru on the back of price corrections.
The RBI on its part too announced various measures for MSMEs hit by the implementation of Goods and Services Tax (GST) by giving them additional up to 180 days to clear their dues to banks.
At present, the government debt, including market borrowing, is managed by the Reserve Bank of India.
The past week was an interesting one for technology in India, both from an industry as well as government standpoint.
The week gone by was more about the RBI monetary policy despite a bland status quo and the financial results of big banks such as State Bank of India (SBI) and Bank of Baroda (BoB).
Tyagi, who is part of the committee formed by the government to examine the pros and cons of virtual currencies (VCs), including launching an own cryptocurrency, said that a policy in this regard should come out first and then only the role of Sebi can be outlined.
The government proposal to mandate listed firms to raise 25 percent of funds via corporate bonds is a good step and SEBI will come out with detailed rules by September in this regard, SEBI chief Ajay Tyagi said.
The gross grant included Rs 417.44 crore for the Polavaram multipurpose project, one of the issues of contention between the allies TDP and BJP.
Indianomics discussed the Insolvency and Bankruptcy Code (IBC). The process has been an amazing success so far given the smooth way in which resolution professionals have been appointed. The way these professionals and creditor committee has worked and the extraordinary interest shown by bidders for the defaulter companies. The deadline for the first twelve big default cases referred by banks to the bankruptcy court ends in April-May. 25 percent of the banking systems’ bad loans are being resolved. What are the tweaks needed to the process in the form of circulars or codes to cover the last mile smoothly? Are any further amendments to the law needed, if yes, what? In an interview with CNBC-TV18, Bharam Vakil of AZB & Partners and Rashesh Shah, President of FICCI answered all these questions.
Stating that it is difficult to predict global oil prices, Patel said the global charts have shown two-way movement in the recent days and there is a need to be prepared for both the scenarios of rising and falling rates.
Referring to the recent rout in the domestic and global stock markets, Patel said, "There has already been a correction not only globally but in India and therefore in a way it underscores how capital markets can change direction."
The board of Securities and Exchange Board of India (Sebi) today apprised Jaitley about the market trends and recent initiatives taken by it.
Expecting a big boost to the corporate bonds market going forward, Sebi Chairman Ajay Tyagi said the rules for mandatory 25 per cent fund-raising by listed companies through this route would be out by September.
Finance Minister Arun Jaitley's Budget 2018 was majorly focussed on agriculture rural sector and food processing industry. CNBC-TV18's Ronojoy Banerjee caught up with some of the top players of the packaged food industry and asked them about the additional budgetary allocation to food processing, demand revival in rural areas and the import duty hike on certain food items.
Economic Affairs Secretary SC Garg said the MPC expects growth to accelerate in 2018-19, and inflation to converge back towards its target level in the second half of next fiscal, starting April 1.
The total reserves had risen by USD 3 billion to USD 417.89 billion in the previous reporting week.