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ICRA revises growth outlook for NBFCs; expects another strong performance in FY24

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ICRA revises growth outlook for NBFCs; expects another strong performance in FY24

ICRA has revised upward the growth outlook for the current financial year for the retail loans of Non-Bank Financial Companies (NBFC-Retail) and Housing Finance Companies (HFC-Retail), which account for the bulk of the overall sector. The NBFC-Retail asset under management (AUM), estimated at around ₹14 lakh crore as of March 2023, is expected to grow…

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ASCI’s new charity norms ask crowdsourcing platforms to disclose fees

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ASCI’s new charity norms ask crowdsourcing platforms to disclose fees

Representational image only. | Photo Credit: Twitter/@ascionline Crowdsourcing platforms will have to disclose fees charged by them while seeking donations for charitable causes henceforth, advertising industry’s self regulatory body Advertising Standards Council of India (ASCI) said on July 20. In the guidelines for advertisements for charitable causes, the ASCI has also made it clear that…

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Western countries are making sensible bet on India, ‘a rising great power’, says Martin Wolf

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Western countries are making sensible bet on India, ‘a rising great power’, says Martin Wolf

Prime Minister Narendra Modi and USA President Joe Biden during the meeting with top CEOs at White House, in Washington, Friday, June 23, 2023. | Photo Credit: PTI India is indeed likely to be a rising “great power” and its economy will have the size similar to that of the U.S. by 2050, according to…

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Sundaram Clayton renamed TVS Holdings Ltd.

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Sundaram Clayton renamed TVS Holdings Ltd.

Venu Srinivasan, Chairman, TVS Motor Company. | Photo Credit: Special Arrangement Auto components manufacturer Sundaram Clayton Ltd. (SCL) has been renamed TVS Holdings Ltd. (TVSH) This follows the amalgamation of TVS Holdings Pvt. Ltd. with SCL effective June 16. An application for the change of name was filed by SCL with the Registrar of Companies,…

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Business

Explained | Why has tomato become so expensive?

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Explained | Why has tomato become so expensive?

The story so far: As prices of tomatoes hover between ₹100 and ₹200 in various parts of the country, the Reserve Bank of India’s latest monthly bulletin has highlighted that the volatility of tomato prices has historically contributed to overall inflation levels in the country. How is tomato produced in India? Tomato production in the…

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Merger couldn’t have been better timed: HDFC Bank CEO

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Merger couldn’t have been better timed: HDFC Bank CEO

“Only 2% of our customers source home loans through the bank, while 5% do it from other institutions. This itself is a huge opportunity,” says Sashidhar Jagdishan. The merger of Housing Development Finance Corporation Ltd. (HDFC) with HDFC Bank Ltd. could not have been better timed and was an opportunity the bank truly believed in,…

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Airbus C-295 aircraft manufacturing ecosystem taking shape in India

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Airbus C-295 aircraft manufacturing ecosystem taking shape in India

The first C-295 transport aircraft manufactured by Airbus for the Indian Air Force at Seville, Spain is scheduled to be delivered in September. | Photo Credit: Dinakar Peri In about 45 days from now, in September, the Indian Air Force (IAF) will receive the first C-295 transport aircraft and ahead of it, six pilots have…

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Data | The risk of small States’ heavy reliance on the Union government

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Data | The risk of small States’ heavy reliance on the Union government

Small States must prioritise raising their own revenue to reduce their dependency on the Union government The fiscal situation of India’s States has garnered significant attention in recent times. Despite ample data on State finances, most of the analysis is centred around larger States. There needs to be more discussion on the fiscal position of…

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Monsoon’s uneven march could fuel food inflation: Analysts 

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Monsoon’s uneven march could fuel food inflation: Analysts 

With the Indian Meteorological Department signalling that parts of Uttar Pradesh, Bihar, Assam, Punjab, Karnataka and Tamil Nadu may see less than normal rainfall this month, sowing of paddy and pulses could be further affected. These effects were already exacerbating food inflation, reckoned analysts at brokerage Motilal Oswal. File | Photo Credit: Reuters Despite a wetter…

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