Companies and Markets

Companies & Markets

'Startup policy can make entrepreneurship more comprehensive'

Startup India and Make in India programmes can make entrepreneurship more comprehensive by channelising energy from all elements of the ecosystem, including from entrepreneurs to investors, Union Minister Piyush Goyal has said.

Betting on the huge potential of the startup policy, the railway and coal minister said it has made youth a job creator rather than a job seeker.

He was speaking at an event organised by the New Delhi Chapter of Entrepreneurs' Organisation yesterday.

NSE Algo case gets murkier as I-T raids ex-top executives

In a dramatic manoeuvre which began late on Wednesday and spilled over to Thursday, the Department of Income Tax began to ceaselessly raid the premises of former top bosses of the NSE, as also the brokers named in the controversial co-location issue. This move came a day after the new management of NSE submitted two separate audit reports on the misuse of co-location facility for algorithm (algo) or high frequency trading (HFT) which allowed preferential access to a select cartel of brokers colluding with exchange officials.

Vehicle seat-maker Adient to set up Rs 190cr testing centre in Pune

Adient, the $16.2-billion automotive seating supplier, is investing Rs 190 crore ($30 million) to set up a state-of-the-art automotive seating prototyping and testing facility in India to cater to its global business and local industry.

The new facility, slated to open late next year in Pune, will be of global scale. The American multinational designs, manufactures and markets a range of seating systems and components for almost all modes of vehicles. The construction of its new facility marks a major expansion for its technical centre in Pune.

Govt arm-twisting RBI for recap bond funds, says employee union

Wading into surplus dividend issue, the RBI employees union has asked the government to desist from “arm-twisting” the central bank for funding Rs 1.35 lakh crore bank recapitalisation programme. The union’s clear message comes days ahead of governor Urjit Patel’s expected visit to the North Block before the 5th bimonthly monetary policy review on December 5-6.

Export of pulses freed; traders say it’s of no help

RBI has allowed domestic banks and their subsidiaries active in capital markets to offer commodity hedging facilities to Indian entities abroad. This will open a new line of business for the Indian banks while enhancing liquidity in commodity hedging overseas.

Companies find saviour in bonds as loans dry up

Indian companies are finding it easier to raise funds through bonds than bank loans, as a surge in bad credit chokes off bank lending while investors seek higher-yielding investments for their cash.

Advanced analytical tools help identify 3.71L undisclosed A/Cs

Use of advanced analytical tools and data received from banks, post offices and other agencies helped income tax (I-T) department identify 3.71 lakh undisclosed new accounts. These accounts had not been disclosed earlier by suspected tax-dodgers during the second phase of Operation Clean Money (OCM).

About 5.68 lakh new cases, other than the earlier 17.92 lakh cases, were also selected for scrutiny, an internal report compiled by the I-T department has revealed.

TCS bags 5-yr digital contract from Rolls

Rolls-Royce, the global leader in high performance power systems, has expanded its partnership with tech provider TCS to increase its focus on digital innovation.

Earlier, TCS was helping Rolls-Royce in engineering and manufacturing spaces and now with a deeper relationship in place, the IT major will offer digital transformation services to the engine giant. The new contract from Rolls-Royce will be TCS’ third largest digital deal in the UK.