Liquidity will drive mkt even as economy weak: Ajay Srivastava 

 Ajay Srivastava of Dimensions expects major consolidation in the non-banking financial companies (NBFC) space in the medium-term. Smaller NBFCs in the industry can gain on these potential M&A opportunities, he added. Ajay Srivastava (more) CEO, Dimensions Corporate Finance Services Pvt Ltd | Error loading player: No playable sources found Liquidity will continue to drive the market higher going ahead as the rally in the global markets continues, said Ajay Srivastava, CEO at Dimensions Corporate Finance Services. 

Ambitious new bankruptcy code may take yrs to clean up debt mess 

The measure marks a vital step towards completing India's quarter-century-old transition from socialism to a market economy that has so far been unable to adequately address what to do when companies fail. Ambitious new bankruptcy code may take yrs to clean up debt mess A long-awaited Indian bankruptcy code may soon win parliamentary approval, but struggling creditors – above all state banks trying to recover USD 100 billion in bad loans – shouldn't start celebrating just yet. The measure marks a vital step towards completing India's quarter-century-old transition from socialism to a market economy that has so far been unable to adequately address what to do when companies fail. For Prime Minister Narendra Modi's drive to 'Make in India', encouraging new investment depends on unburdening creditors of old ones that have failed. The stakes are high: India has the world's fastest growing big economy, but is not creating enough new jobs. Bankers back the new bankruptcy code, which would impose debt deadlines on failed firms and foresees up to five years in jail for debtors who conceal property or defraud creditors. "This will speed up the process," said R.K. Gupta, an executive director at State-run Bank of Maharashtra .

DeMo to cut tax avoidance, corruption; credit positive: 

Moody's Besides, it said, the country remains resilient to economic disruption and the worst of the liquidity crunch has passed, which should support a rebound in consumption and investment. DeMo to cut tax avoidance, corruption; credit positive: Moodys Demonetisation will be credit positive for India as it is likely to reduce tax avoidance and corruption, Moody's Investors Service said today. Besides, it said, the country remains resilient to economic disruption and the worst of the liquidity crunch has passed, which should support a rebound in consumption and investment. The US-based agency however projected growth to slow to 6.4 percent in the January-March quarter, from 7 percent in the previous three months. "Looking ahead, we expect remonetisation to continue at a similar pace," Moody's said in its report on demonetisation. "We continue to believe that in the medium term demonetisation will strengthen India's institutional framework by reducing tax avoidance and corruption. It should also result in efficiency gains through greater formalisation of economic and financial activity, which would help broaden the tax base and expand usage of the financial system. 

Demonetisation: Premium properties, land worst

 Affected Priyansh Jain, a textile merchant from New Delhi, has an independent three-storeyed property in upmarket Pitampura locality. He has a large joint family and is now looking to sell his property and relocate to R Priyansh Jain, a textile merchant from New Delhi, has an independent three-storeyed property in upmarket Pitampura locality. He has a large joint family and is now looking to sell his property and relocate to a bigger house. However, over the last one year, he has seen a drastic fall in property rates. “What was selling for Rs 20 crores at one point of time in 2015, was in the range of Rs 8-10 crores, in 2016. The recent demonetisation has added to the problems of the property market it seems,” says Jain. The situation seems similar in other metro cities and tier-2 cities. Take for example the case of Mumbai’s upmarket Bandra region, where high-end properties have seen a correction of more than 10%. “Given that old currency notes are no longer valid, home buyers/investors using unaccounted wealth to carry out transactions in cash, are facing a tough time and developers accepting cash components are facing a higher liquidity crunch than those accepting all payments through cheque/ bank transfer,” says Anuj Puri, former head of JLL India. Regions and segments that have been worst hit by demonetisation

India factory activity expands at a slightly faster pace in Feb

 The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 50.7 in February from 50.4 in January. That beat a Reuters poll median of 50.3 and was the highest level since November. India factory activity expands at a slightly faster pace in Feb Indian factory activity expanded for a second straight month in February, while an increase in raw material costs pushed firms to raise prices at the fastest rate in nearly three and a half years, a business survey showed on Wednesday. The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 50.7 in February from 50.4 in January. That beat a Reuters poll median of 50.3 and was the highest level since November. Readings above 50.0 signal an expansion in activity. "Indian manufacturers benefited from recovering demand and raised production volumes.

Trade Unions urge members to boycott Pepsi,Coca-Cola items in TN V.

 Thyagarajan, Manager of Annai Pazhamudhir Cholai, "We have stopped selling videshi brands like Coke and Pepsi since Jallikattu protest. We want to promote local brands." Trade Unions urge members to boycott Pepsi,Coca-Cola items in TN Some Trade Unions have asked their members not to sell Pepsi and Coca-Cola products from March 1 in Tamil Nadu citing reason that it's time to promote home grown brands. They alleged that these companies are exploiting the water bodies in Tamil Nadu to manufacture aerated drinks. V. Thyagarajan, Manager of Annai Pazhamudhir Cholai, "We have stopped selling videshi brands like Coke and Pepsi since Jallikattu protest. We want to promote local brands." There are 20 lakh shops affiliated with nine trade unions and most of the shops affiliated to these unions have decided not to sell the brands starting today.

Simplicity is key for India Post Payments Bank: CEO In an interview with Mint,

 India Post Payments Bank Chief Ashok Singh said that simplicity is key for its operations. Payments banks are a step in right direction which will redefine banking in India. India Post Payments Bank is doing all it can to step up financial inclusion in the country. In an interview with Mint , India Post Payments Bank Chief Ashok Singh said that simplicity is key for its operations. “I just have to keep it simple which is also an operational necessity. Simplicity hurts no one,” said Singh. The bank, which became the second entity to start operations in January by launching a pilot in Raipur and Ranchi, plans to scale up its branches to 650 by end of September. With a bottom-up approach, the bank is targeting people with no mobile phones and who rely on direct benefit transfers (DBT). Singh said he aims to simplify payments for both feature phone and smartphone customers and the focus will be on payment solutions and not on banking solutions.