Banikinkar Pattanayak

Articles By Banikinkar Pattanayak

668 Articles

Bitcoin Billionaire | It’s about Winklevoss twins vs Zuckerberg battle for Facebook

Is the Winklevoss twins vs Zuckerberg battle for Facebook really a one-sided story? A book attempts to achieve just that

Bitcoin Billionaire, Winklevoss, Zuckerberg, Facebook, The Social Network, Ben Mezrich, cryptocurrency, The Accidental Billionaires News

IBC changes: Want to drag realtor to NCLT? Draw in 99 homebuyers

The committee is also working on a formula to distribute resolution proceeds between financial and operational creditors and squeeze the scope for different interpretations of the same law by different authorities.

IBC changes, realtor, NCLT, homebuyer, Insolvency and Bankruptcy Code, corporate affairs, operational creditor, Injeti Sriniva News

RCEP negotiators asked to settle issues by October 22

Trade ministers and negotiators of the 16 nations will have to present to their respective leaders which issue can or can’t be settled now so that appropriate announcement can be made at the leaders’ summit next month, ac

RCEP, import duty India, South Korea, asean, india joining rcep, rcep talks, tpp, trade deficit News

RCEP trade ministers’ talks end in impasse

No joint statement will be issued, as certain key issues are yet to be resolved, even after two days of intense negotiations on October 11 and 12, according to one of the sources.

RCEP Bangkok Ministerial meeting, investment, e commerce, trade, piyush goyal, rcep india, rcep dairy, rcep members, rcep meeting, rcep trade deal News

How to make IBC fool-proof: Govt crowd sourcing for ideas as delays hit insolvency resolutions

The Insolvency and Bankruptcy Board of India has an electronic facility using which stakeholders can submit their feedback on even clauses or words of a particular regulation throughout the year.

Insolvency, E marketplace, toxic assets, delay in resolution, IBBI, e marketplace solution, e marketplace insolvency, insolvency and bankruptcy code News

IBC resolution: E-marketplace for toxic assets soon

The idea is to expedite the resolution process and generate greater interests for the assets by making key information available to a wider pool of investors at the earliest so that they place bids quickly.

Move to cut delay in resolution; IBBI seeks EoI to run the platform. News

RCEP talks: India for safeguard tools to keep out damaging imports

Wants auto-trigger mechanism against China, Australia and New Zealand in 68 items.

Economy News

RCEP: PM Modi chairs key meet ahead of Bangkok round

Technical negotiations for the RCEP deal were over when chief negotiators of various countries met in Vietnam recently, after 28 rounds of talks. Goyal will represent India at the Bangkok ministerial meeting.

ries. Modi had convened a series of meetings on RCEP in recent months, said the source. (File) News

PSU banks may get extra funds infusion as Modi govt looks to boost credit flow

The finance ministry has already allocated Rs 59,807 crore for infusion this fiscal and is likely to do the rest soon.

Credit flow boost, Department of Financial Services, PSB, corporation tax rates, Oriental Bank of Commerce , Modi government, GDP growth News

Setback at WTO: India to rework export schemes after losing dispute to US

In that case, the fate of any appeal by India against a verdict in favour of the US remains uncertain.

Economy News

RCEP talks: India may reduce tariff on 80% Chinese goods over 20 years

RCEP is a proposed mega trade pact between the 10 Asean members, India, Australia, China, Japan, South Korea and New Zealand. According to initial estimates, it accounts for 25% of global gross domestic product, 30%

Economy News

RCEP: India readies tougher rules to curb dumping

The move is aimed at allaying the domestic industry’s fears that any free trade agreement with China through RCEP (Beijing is a member) will result in massive dumping of highly-subsidised items, mostly diverted due to the o

But at the same time, the proposals suggest India’s greater willingness now than earlier to clinch the RCEP deal. News

Lower corporate tax can lead to consumption growth as well: Sudhir Kapadia, partner and national tax leader, E&Y India

Those who are in SEZs, such as software companies, will likely continue with the old regime, as their effective tax rates in certain cases may be lower.

Economy News

Bonanza for PSU insurers: National, Oriental and United may get Rs 12,000 crore after merger

Since the Budget 2019-20 hasn’t made any provision of funds for insurers, the department of financial services (DFS) will soon seek supplementary demand of Rs 12,000 crore for this purpose, the source added.

United Insurance, public sector banks, department of financial services, National insurance, Oriental insurance News

CNH Industrial to step up India investments: CEO Hubertus M Mulhauser

According to CNH’s agriculture division president Derek Neilson, the company targets to double its market share in India by 2024, as it banks on a spurt in the growth of farm mechanisation.

CNH Industrial, Hubertus M Mulhauser, India, economic growth, vehicles maker, market share, industry news

NPA crisis: PSU banks likely to revamp Mudra scheme

A source told FE that all aspects of the Mudra scheme — including geographical reach, bad loans and need for better features, enhanced access to the intended beneficiaries — are being reviewed by PSBs.

NPA crisis, PSU banks, Mudra scheme, NPA risks, Raghuram Rajan, MSME, Mudra loans, Kisan Credit Card, SIDBI News

RBI surplus transfer: Economists tell government not to throw fiscal caution to wind

Economists said the record transfer in FY20, however, will offer the resource-hungry government — already struggling with subdued growth in direct tax collections — much-needed manoeuvring space to support sliding growth

Economy News

PSU banks to crack the whip, to review farm credit to stop diversion

As per the latest NITI Aayog calculations being cited for this purpose, crop loan disbursement to states far exceeded their cost of production in FY18, clearly suggesting a massive diversion towards other consumption purposes

Banking & Finance News

Mobile phone exports: Amitabh Kant panel eyes Vietnam-like model

As US-China trade tensions escalate, several big manufacturers who have facilities in China are keen to relocate, and as many are looking at Vietnam, India is hoping to get a slice of that pie as well.

NITI Aayog, CEO, Amitabh Kant, Vietnam, mobile phone export, export economy news, US China trade tension, electronics News

Offshore Sovereign Bond: Government to gauge macro risks before taking final call

On top of these, the government will also have to decide if the overseas borrowing will be an annual feature or such securities will be issued only occasionally when there is a pressing need for it.

Sovereign Bond, Offshore Sovereign Bond, macro risks, Subhash Chandra Garg, macro-economic impact, economy news

Economic slowdown: Govt plans urgent steps to boost exports

Though the goods and services tax (GST) regime has subsumed a plethora of levies, some still exist (petroleum and electricity are still outside the GST ambit, while other levies like mandi tax, stamp duty, embedded central GS

commerce ministry, indian economy, union cabinet, goods and services tax, GST, central bank, mandi tax, stamp duty, economy news

Suspension of trade: Pakistan move to have negligible impact on India

India had granted the MFN status, a jargon for giving equal treatment to all trade partners under the WTO framework, to Pakistan unilaterally in 1996.

india pakistan trade, india pakistan trade news, india pakistan trade volume, india pakistan trade items list, india pakistan trade relation, india pakistan economy comparison, india pakistan economy news

India to rethink RCEP engagement if China denies market access

Even without the deal, India’s merchandise trade deficit with the RCEP grouping hit $105 billion in FY19 (60% of its total deficit)

Industry News

Offshore sovereign bonds: Govt weighing risks and rewards

The government is far from finalising details of its offshore bond sale plan, as it is in the process of working out various operational aspects and weighing potential macroeconomic impact of the move, a source told FE.

Economy News

Government to decide on Subhash Chandra Garg’s successor, panel to meet again: Bimal Jalan

FE had reported last week that although the Jalan panel’s report was being edited after recommendations were finalised in its last meeting on July 17, it might seek views of the finance ministry again.

Economy News

Offshore sovereign bond plan under review amid calls for caution

New DEA secretary set to re-examine proposal, hold talks with RBI and brief PMO

Atanu Chakraborty, finance ministry, department of economic affairs, Subhash Chandra Garg, foreign investors, offshore sovereign bonds News

Subhash Chandra Garg’s exit may delay Jalan panel report, offshore bond plan

Panel may seek opinion of new DEA secy; Garg opts for VRS after Oct 31

Economy News