India Inc raises $1.69 bn from overseas markets in Mar
The Dollar Business Bureau India Inc has raised $1.69 billion from foreign markets in the month of March this year, an increase of 11.6% compared to a year ago. Domestic companies had raised $1.52 billion via external commercial borrowings (ECB) in the month of March last year. An extra $1.65 billion was mopped up via rupee-denominated bonds (RDBs), a type of bond permitted by the Reserve Bank of India (RBI) in 2016 for firms to float such type of bonds in foreign markets to raise funds only. The data is incomparable to RDBs mop-up. The major borrowers that went through the RDB route were HDFC - raised $758.99 million for the purpose of on-lending, Sembcorp Gayatri Power – raised $523.80 million to refinance rupee loans and ...
India Inc investment overseas surges two-fold in March
The Dollar Business Bureau India Inc has increased their overseas investments in the month of March, the data by Reserve Bank of India (RBI) showed on Tuesday. Foreign direct investment (FDI) by Indian firms in their international businesses surged more than two-fold to $2.99 billion last month. In March 2016, the companies from India had invested worth $1.42 billion in their overseas subsidiaries/joint-ventures. In March this year, the investments were much more compared to the preceding month of February, at $867.53 million, RBI data revealed. The companies’ investments came by way of equities at $1.99 billion, loans of $742.6 million and in the form of issuance of guarantee around $251.4 million. The major investors are Bharti Airtel Ltd with investment worth $765.2 million and Tata International ...
NPAs of banks to rise to 10.6% by March 2018: Crisil
The Dollar Business Bureau The gross non-performing assets (NPAs) of banks in India will increase to 10.6% by March 2018 from 9.5% in March 2017, said a rating and research firm in a report. However, there is a fragile revival in the credit quality of the corporates. But the pressure in the banking system is likely to continue in the financial year of 2017-18 and it may reach to 10.6% by March 2018, Crisil warns in a report on Monday. “Credit quality of India Inc is gradually recovering, but the underpinnings remain fragile because some sectors continue to struggle and several large companies remain highly indebted,” it said. The report further said that the gross NPAs of banks that had crossed over Rs.14 trillion ...
GST and Union Budget 2017
Ranjeet Mahtani & Sweta Rajan Prior to the announcement of the Union Budget 2017, the Goods and Services Tax Council (Council) had its ninth meeting on January 16, 2017 and the next meeting is scheduled on February 18, 2017. The Council is then expected to clear up all un-resolved issues, and finalise the legislations to achieve another milestone in embracing GST. Nearly all controversial issues have been debated and consensus built amongst members of the Council. Minor matters will have to be settled, including that of sharing of administrative powers. At the same time, some legal concerns have been raised (in respect of the decisions of the Council), and it will have to be seen whether these sustain or fall-off. Dateline: It was recently ...
Reactions to the Union Budget 2016-17
The Union Budget 2016-17 has evoked justifiable reactions from the business industry The Dollar Business Bureau India Inc.'s reactions on Union Budget 2016-17 Anand Mahindra on Twitter "In summary, despite our disappointment on the tax on cars, I see no reason for the mayhem in the market." Harshvardhan Neotia, Chairman, Ambuja Neotia Group "The Budget is in line with the agenda of pushing the economy forward. There is an attempt towards simplification in tax system which is laudable. It's a good budget with good emphasis on infrastructure". Jyotsna Suri, Immd. Past President, FICCI & CMD, Bharat Hotels "It's a pro-country and pro-development budget as we had expected it to be." Pankaj Patel, CMD, Cadila Healthcare “Infrastructure push and agriculture sustainability are the ...
