Shah flagged private capex as an area of concern. He pointed out that despite an increase in government-driven capital expenditure, private sector investment remains sluggish.
Edelweiss Group chairman Rashesh Shah also believes that incremental FII inflows will come to India once interest rates in the US start coming down
BJP sweep powers markets to new highs: what'll fuel the bull run further? Join in this conversation with N Mahalakshmi and Chairman of Edelweiss Group Rashesh Shah.
Edelweiss Group has restricted spending to the minimum because of liquidity concerns arising out of the inability to get benefits of loan repayment moratoriums
The businessman arrived at ED office in south Mumbai's Fort area around noon and exited after 5 pm, officials said. Details on the information sought from him were not immediately available.
Edelweiss Chairman and Chief Executive Officer Rashesh Shah appeared in front of officials of the Enforcement Directorate today.
The case pertains to violation of foreign exchange norms involving a firm Capstone Forex, a Mira-Bhayander based firm.
"The government has done quite a bit in the last few months including corporate tax, announcing a lot of schemes for liquidity, for non-banking financial companies (NBFCs), for the real estate sector. The last thing that is required is for the consumption to be spurred,” said Shah
"The fundamentals both in India and globally are improving," said Shah.
Shah was in the city to mark the centenary year celebrations of thecity-based the Federation of Gujarat Industries (earlier known as the federation of gujarat mills and industries).
There is continuity in widening the social security framework, strengthening the foundation of the financial sector and promoting easier access to finance.
In an interview to CNBC-TV18, Rashesh Shah, Chairman and CEO of Edelweiss Financial Services discussed how does the government's capital infusion plans impact the non-banking financial companies (NBFC) universe.
I think all rating agencies will agree we are far better off than we were 3-4 years ago. Moody’s has India on a positive rate watch, said Ananth Narayan of Standard Chartered Bank.
Rashesh Shah of Edelweiss Financial Services believes the market seems to be settling at a fairly strong base. He now sees strong credit growth coming from outside of the banking arena.
The CEO of Edelweiss Group Rashesh Shah, says the banking sector in India is not saturated. There is still a requirement for more large and small banks in the sector. He also feels there is an urgent need for banks to consolidate.
Non-performing assets (NPAs) of banks have shot up to 9.5 percent in the third quarter of this fiscal from 9.1 percent in the previous and 8.5 percent in the March quarter.
Diversified finance firm Edelweiss Financial Services today reported a rise of 47 percent in net profit at Rs 155 crore for the third quarter of 2016-17.
Earnings growth this quarter might remain soft, but investors are in the mood to invest and there is palpable optimism around India, says Rashesh Shah, Chairman and CEO of Edelweiss Financial speaking to CNBC-TV18 on the sidelines of Edelweiss India conference.
Speaking to CNBC-TV18 Rashesh Shah, Chairman & CEO, Edelweiss Financial Services said that IT stocks are attractively valued right now. There are uncertainties around US and visa issues and people are confused. It will take another 2 quarters to see how US issues pan out, he said.
Speaking to CNBC-TV18 Rashesh Shah, Chairman & CEO of Edelweiss Financial Services said that from April next year growth should bounce back. “Demonetisation hasn‘t changed the structural demand-supply balance, but it has only got dislocated.â€
He expects global growth to remain lukewarm with periodic shocks in the global market. Although he adds that he is positive on India and says it is very well insulated from global volitility.
As the joy of giving or Daan Utsav week draws to a close, Rashesh Shah Chairman & CEO, Edelweiss Group tells CNBC-TV18 that the idea of philanthropy should be to invest back into the society. He adds, philanthropy has to come from the heart, it can't be regulated or forced.