Even as the RBI has come under criticism for its audit of PNB books, the central banker has gone ahead and appointed a high powered committee under eminent tax expert, Y H Malegam, to look into the reasons and prevent such frauds in the future. The committee Read more [...]

Since the beginning of February, FPIs have been on a selling spree with net sales of over $1 billion. This is a stark contrast to the $2 billion of FPI money that flowed into India in the month of January 2018. With US unemployment getting closer to 4.1%, Read more [...]

A day after the aggressive bid for Bhushan Steel submitted by Tata Steel, the markets clearly showed disappointment pulling the stock down by nearly 7%. Tata Steel agreed to pay nearly Rs.70,000 crore for Bhushan Steel and Bhushan Power put together, Read more [...]

When the $1.77 billion fraud at PNB involving high profile diamond merchant, Nirav Modi, came to light it was already clear that there was a systemic crisis. A fraud of that size would not have been possible without connivance at the highest levels. As Read more [...]

News Announcement Impact Analysis PNB got embroiled in a $1.77 billion global fraud in its Mumbai branch The fraud pertains to illegal LOUs drawn by officials of PNB based on which other banks funded the Nirav Modi group The size Read more [...]

Nearly about 10 years ago, Steel Authority of India Ltd. (SAIL) embarked on a massive plan of expansion of capacity as well as restructuring. Over the last 10 years, SAIL has paid a price in terms of stock market performance due to the huge investment Read more [...]

While the Nifty held on to the 10,500 levels on Wednesday, the big overhang was the sharp rise in NPAs of PSU banks and the $1.8 billion fraud at PNB. Both these are likely to dominate the market sentiments today also. As we had mentioned yesterday, Read more [...]

SEBI is readying a framework for issuance of P-Notes from the IFSC. As is well known, P-Notes are participatory notes issued by FIIs on behalf of clients who are not registered as FIIs in India and who want to maintain anonymity. SEBI has recently made Read more [...]