It's disingenuous to think that India's biggest banking fraud was just one bent officer in a bumbling state-run lender enriching an uncle-nephew pair of greedy diamond merchants. That's the spin Punjab National Bank is trying to put on the $1.8 billion scam that went on for seven years.
Now that bitcoin is a mainstream asset, with futures contracts traded at the world's largest exchange, becoming actual money should be the logical next step. But if you were to ask investors their expectations, the reply in most cases would likely be: "Not in my lifetime."
Mukesh Ambani, India's richest man, sold 10-year dollar notes at just 130 basis points over U.S. Treasuries on Monday. None of the existing debt of Indian nonfinancial issuers, including state-owned firms, was raised this cheaply, according to Bloomberg News reporters Carrie Hong and Neha D'silva.
In the annals of economic experimentation, India's cash ban will stand out. Not because it was ill-advised, poorly executed or unsuccessful in achieving its original aims. Prime Minister Narendra Modi's move to outlaw 86 percent of his country's currency a year ago today was all those things. What made it remarkable, though, was the way it flew aga...
The private sector is latching on to the Abe-Modi bromance. Suzuki Motor Corp., by far the biggest success story of Japanese investment in the country, is considering a fourth production line in the western Indian state to take total capacity there to 1 million cars a year, according to media reports.
Unlike Ratan Tata, who was in control of the group holding company's board, Murthy -- and the other co-founders, if they side with him -- are just shareholders taking on a hostile board from the outside.
Vishal Sikka's resignation as chief executive officer of Infosys Ltd. is part of a much-needed cultural reboot at the Indian software exporter. But the process won't be complete as long as the current board hangs around to sing dirges of victimhood.