Clara's Feed
Nov 6, 2015

SBI books 25 percent Q2 profit rise as bad loans dip

MUMBAI (Reuters) – State Bank of India (SBI.NS: Quote, Profile, Research, Stock Buzz), India’s largest lender, beat expectations with a 25 percent rise in second quarter profit on Friday, boosted by increased income from its advances and a drop in its closely monitored bad loan ratio.

Analysts in the sector have been watching for signs that credit quality is stabilising in India. State-owned banks that dominate the industry have been grappling with their worst bad debt burden in a decade, after years of liberal lending and slow credit growth.

Nov 6, 2015

India’s largest bank SBI books 25 pct Q2 profit rise as bad loans dip

MUMBAI, Nov 6 (Reuters) – State Bank of India,
India’s largest lender, beat expectations with a 25 percent rise
in second quarter profit on Friday, boosted by increased income
from its advances and a drop in its closely monitored bad loan
ratio.

Analysts in the sector have been watching for signs that
credit quality is stabilising in India. State-owned banks that
dominate the industry have been grappling with their worst bad
debt burden in a decade, after years of liberal lending and slow
credit growth.

Oct 30, 2015

Exclusive: India eyes bankruptcy reform to ease decades of gridlock

MUMBAI (Reuters) – A group of government-appointed advisors has recommended sweeping changes to India’s outdated and overburdened bankruptcy system, aiming to modernize a process that takes several years and costs investors and taxpayers billions.

The changes would be the most ambitious overhaul to date of rules governing the liquidation or revival of companies in India, a country with no single bankruptcy code and where competing laws, unclear jurisdictions and inadequate resources can leave cases languishing for decades.

Oct 30, 2015

India eyes bankruptcy reform to ease decades of gridlock

MUMBAI, Oct 30 (Reuters) – A group of government-appointed
advisors has recommended sweeping changes to India’s outdated
and overburdened bankruptcy system, aiming to modernise a
process that takes several years and costs investors and
taxpayers billions.

The changes would be the most ambitious overhaul to date of
rules governing the liquidation or revival of companies in
India, a country with no single bankruptcy code and where
competing laws, unclear jurisdictions and inadequate resources
can leave cases languishing for decades.

Aug 13, 2015

India’s states sidestep stalled reform, go it alone to woo investment

MUMBAI/NEW DELHI, Aug 13 (Reuters) – It took two months of
courting, dozens of negotiators and final talks that ran into
the early hours, but the western Indian state of Maharashtra
secured its prize: a $5 billion investment commitment from
iPhone maker Foxconn.

The 5-year deal, announced last weekend, is
a reminder of the pulling power of India’s wealthiest states –
even as the central government under Prime Minister Narendra
Modi hits its biggest reform roadblocks to date, over tax and
land reform.

Jul 10, 2015

Maharashtra eyes $16 billion push to revamp infrastructure

MUMBAI (Reuters) – India’s wealthiest state plans to spend almost $16 billion over five to six years on a revamp of key infrastructure, reviving long-dormant projects including a Mumbai airport, a port and a key coastal road, Maharashtra’s chief minister said.

Seeking to accelerate economic growth, India’s government has prioritised the kick-starting of infrastructure projects that had gathered dust, either because of an obstructive bureaucracy, a lack of private sector interest or in some cases, lengthy litigation.

Jul 10, 2015

India’s richest state eyes $16 bln push to revamp infrastructure

MUMBAI, July 10 (Reuters) – India’s wealthiest state plans
to spend almost $16 billion over five to six years on a revamp
of key infrastructure, reviving long-dormant projects including
a Mumbai airport, a port and a key coastal road, Maharashtra’s
chief minister said.

Seeking to accelerate economic growth, India’s government
has prioritised the kick-starting of infrastructure projects
that had gathered dust, either because of an obstructive
bureaucracy, a lack of private sector interest or in some cases,
lengthy litigation.

Jun 5, 2015

Nestle pulls Maggi noodles off Indian shelves as food scare spreads

MUMBAI, June 5 (Reuters) – Nestle SA will pull its
Maggi instant noodles from stores across in India, withdrawing
one of the country’s most popular snacks after weeks of damaging
headlines triggered by regulators’ reports that some packs
contained excess lead.

In what has become India’s most significant packaged foods
scare for nearly a decade, Nestle reiterated on Friday that its
noodles were safe. But after coming under fire for what domestic
media said was a failure to react swiftly and decisively, the
group said it would pull the product regardless, more than two
weeks after food inspectors first reported their findings.

Jun 5, 2015

Nestle withdraws Maggi noodles in India after food scare

MUMBAI, June 5 (Reuters) – Food group Nestle has
withdrawn Maggi instant noodles from sale in India citing “an
environment of confusion for consumers”, after a food scare
triggered by a domestic regulator’s report that some packs of
the popular snack contained excess lead.

Nestle reiterated the noodles were safe. But after coming
under fire in local media for doing too little, too late in
response, the group said early on Friday that it would recall
the product regardless, weeks after food inspectors first
reported their findings.

May 14, 2015

India learns to “fail fast” as tech start-up culture takes root

BENGALURU, India, May 14 (Reuters) – After ping pong tables,
motivational posters and casual dress codes, India’s tech
start-ups are following Silicon Valley’s lead and embracing the
“fail fast” culture credited with fuelling creativity and
success in the United States.

Taking failure as a norm is a major cultural shift in India,
where high-achieving children are typically expected to take
steady jobs at recognised firms. A failed venture hurts family
status and even marriage prospects.