Page 9 - Private Sector

Regulators must apply same rules for public and private cos: Deepak Parekh

Finance industry veteran Deepak Parekh on Wednesday said regulators are lenient on state-run companies, and there is a need to have a parity between public and private enterprises. He said the leniency is seen in various mandates like adhering to having required number of independent directors or women directors on board, and added that there is a "little less accountability" in the public sector. "Regulators are a bit lenient on public sector companies," Parekh said, speaking at the launch of the book "The Undercover Monk" here. Parekh, who is the chairman of mortgage major HDFC which is presently seeking regulatory nods for merging with subsidiary HDFC Bank, added, "same rules should apply on governance and disclosure norms". Parekh said sometimes, government nominee director's unavailability leads to cancellation of a meeting and recounted an experience while serving a state-run company's board. Parekh said after reaching New Delhi, he was informed that the meeting was postpone

Abrdn to offload 2% in HDFC Life in block trades, put 43 mn shares on block

Price range set at Rs 564.1-578.55 per share; sale could fetch UK-based financial major at least Rs 2,425.6 cr

Axis Bank ties up with PayNearby, aims to boost priority sector lending

Private lender's portfolio of rural loans was at Rs 58,800 cr at the end of the first quarter this financial year

Private good, public loss: PSEs have been losing mkt share to private peers

A Business Standard analysis of data in the CAG report shows the market share of the four insurers is eroding

Private sector should invest in technology, boost R&D to help economy: CEA

Chief Economic Advisor V Anantha Nageswaran on Monday said the private sector needs to invest more in technology and research and development, and pay the MSME suppliers on time to help the economy. Stating that Indian economy cannot remain exempt from the global challenges but it remains resilient and is poised for a rebound as the banking system is better, inflationary issues are peaking out and ongoing recovery is healthy, the CEA said. It is to our credit so far that we have managed to keep the impact at more manageable levels so far. But it should require continuous vigilance, continuous action and discipline for policymakers, he said while speaking at a virtual meeting with the Calcutta Chamber of Commerce. Citing examples of several economies facing very high inflation, Nageswaran said India is in a relatively better position and the majority of its sectors are doing quite well despite market volatility and inflation. Nageswaran emphasised the need to focus on R&D and ...

Centre appoints NLMC interim head; to initiate surplus land monetisation

The interim CEO's job is learnt to have gone to Sanjay Kumar Jain, and the government has appointed its nominees to the board of the corporation

India should be broadly aligned with the West: Financial Times' Martin Wolf

In a Q&A, Martin Wolf, chief economics commentator at Financial Times warns that big problems are emerging due to relatively weak investment in the private sector

Axis Bank reappoints Rajiv Anand as Dy Managing Director for three years

Anand joined Axis AMC in 2009 and was its founding MD and CEO. He subsequently went on to become the President (Retail Banking) of Axis Bank in 2013 and then joined the bank's board in 2016

Govt, private sector should work together to cut down logistics cost: Goyal

Union Minister Piyush Goyal on Thursday urged the Commerce industry to work with the government to bring down the logistics cost from 12-14% to 7-8 % as prevailing in the developed countries

Private placements at lowest since 2014; total money raised down 23%

A combination of lower requirements and higher interest rates are said to have acted as a dampener

Private sector can boost India's space programme globally: PM Modi

The PM was inaugurating the headquarters of Indian National Space Promotion and Authorisation Centre (IN-SPACe) in Ahmedabad

Asset monetisation

Govt should reassess the plan

ONGC board has 'best persons' in upstream sector to head company: Chairman

ONGC is without a regular chairman since March-end 2021.

Centre has created new opportunities for private sector: FM Sitharaman

If Coimbatore tries to be a pioneer in Web3 technology, it can achieve a unique place and the city can lead the way in the country, she said

After a 16-yr low of 14.9% in 2019, LIC's private sector investments rise

LIC's private sector share of investments had touched a 16-year low of 14.9 per cent in 2019, an analysis by the Reserve Bank of India showed.

Private sector to drive growth of PFRDA pension schemes: Study paper

The private sector is expected to drive growth of the NPS, which has witnessed exponential rise over the last five years, in terms of number of subscribers as well as assets under management

Pvt sector capex cycle to see revival during 2nd half of current FY: CEA

The investment from private sector has been muted for past many years despite several measures, including corporate tax cut, taken by the government to reinvigorate it

Worsening outlook

Fundamentals warrant stock price correction

Govt encourages startups, pvt sector to participate in Gaganyaan programme

The Centre is encouraging the private sector and startups for realisation of India's ambitious human space mission, said Science and Technology Minister Jitendra Singh.

Budget to yield dividends for years; pvt sector should invest: RBI article

The article also said that while the post-pandemic debt consolidation will rely primarily on GDP growth, it needs to be complemented by fiscal consolidation