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Sourav Majumdar
- by Sourav Majumdar
The face-off for Religare: Who will come out victo...
The Burmans have been eyeing Religare since 2018 when they picked up a stake in the company.
Improving access to finance for MSMEs is key to a $5-trillion Indian economy; here's why Improving access to finance for MSMEs is key to a $5-trillion Indian economy; here's why
India's rapid economic growth needs boost in private consumption for inclusive, equitable development India's rapid economic growth needs boost in private consumption for inclusive, equitable development
Stakeholders are anticipating key signals from coalition government's upcoming budget Stakeholders are anticipating key signals from coalition government's upcoming budget
Burmans vs Religare Board: The high-stakes battle for control of the Rs 6,300-crore Rashmi Saluja-led firm

COVER STORY

Burmans vs Religare Board: The high-stakes battle for control of the Rs 6,300-crore Rashmi Saluja-led firm

Deep Dive

Bot is Back NHAI's BOT Projects: How private investments have returned as the highway network sees expansion by 60%
As savers become investors, banks are grappling with a dwindling current account and savings account ratio. Is this a blip or the new reality for banks? As savers turn investors, banks face dwindling CASA ratio: Is this the new reality?
With Ajay Kanwal at the helm as MD and CEO, Jana Small Finance Bank has successfully turned around its operations and is now aiming for a universal banking licence Under Ajay Kanwal's leadership, Jana Small Finance Bank thrives and sets sights on universal banking licence
As the nation prepares for the Union Budget 2024-25, investors anticipate continued policy support across sectors—especially for infrastructure, manufacturing, and rural—which would trigger rallies in shares in these sectors Union Budget 2024: Investors anticipate boost for infrastructure, manufacturing, and agri sectors
Concerns around coalition politics notwithstanding, the Centre is likely to maintain its current stance on disinvestment and asset monetisation. Investors and markets await the Union Budget to reveal the government’s actual intent Despite coalition politics, Centre can maintain disinvestment stance: Only the Union Budget can give clarity to investors
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Interview

'Address the needs of middle India': Ajay Kanwal, MD and CEO of Jana Small Finance Bank, on scripting a new strategy
'Address the needs of middle India': Ajay Kanwal, MD and CEO of Jana Small Finance Bank, on scripting a new strategy
Ajay Kanwal, MD and CEO of Jana Small Finance Bank, on scripting a turnaround, the way ahead, and more
Anand Adhikari

CEO@BT / Behind the Scenes

CEO@BT / Behind the Scenes

Vantage Point

Lessons learnt remain, some top global VCs put profit threshold before investing, writes Sourav Majumdar
End of funding winter? All eyes on June 4 as PE, VC deals start getting cooked again Sourav Majumdar
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Corporate

(From Left) Abhay Hanjura, co-founder, Licious; Vivek Gupta, co-founder, Licious (Photo: Selvaprakash Lakshmanan)
Licious sinks its teeth into offline market: How the unicorn meat delivery start-up is looking at offline success for its next growth phase
Krishna Gopalan
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Aug 04, 2024
Face-Off
The latest boardroom drama pits the Burman family of Dabur against Religare Enterprises’ Executive Chairperson, Rashmi Saluja, in a fierce battle for control of the ₹6,300-crore financial services firm. With SEBI adding to the complexity, this corporate clash is one to watch. Get the full story in BT’s latest issue, now on stands.
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Aug 04, 2024
Jul 21, 2024
Jul 07, 2024
Jun 23, 2024
Jun 09, 2024

Photographik

Photo by GETTY IMAGES
Bullion Bulls
Investors so far in 2024, as geopolitical tensions, indications of rate cuts by global central banks, and General elections in India sparked rallies in these metals. Here’s a look at the numbers:
  • 15.5%: Return (YTD) delivered by gold in 2024 as of June 6, 2024, compared to 10% a year ago
  • 24%: Surge in silver prices in 2024 so far, compared to 6% in the corresponding period in 2023
  • Rs 78,000: The likely (spot) price of gold (per 10 gm) by the year-end, while the silver (spot) price is expected to touch Rs 1.1 lakh per kg by the end of 2024
Barbers employed at a small shop in Faridabad, Haryana (Photo: Arun Kumar)
AT YOUR SERVICE
MORE THAN 17.6 MILLION PEOPLE JOINED THE WORKFORCE IN FY24—THE HIGHEST SINCE FY17. OF THEM, 16.1 MILLION JOINED THE SERVICES SECTOR, THE BIGGEST EMPLOYMENT PROVIDER, MAKING UP 39% OF THE TOTAL JOBS. HERE’S WHAT THE NUMBERS SHOW
  • 11%: Growth in services sector jobs; the total workforce stands at 164.5 million vs 148.5 million in FY23
  • 9.6 million: Jobs created in personal non-professional services (barbers, carpenters, etc.), making up 60% of new jobs in the services sector
  • 423.3 million: Current size of the total workforce in India, which grew 4.3% year-on-year
  • 44%: Share of trading services in services sector jobs, followed by personal non-professional services (18%) and tourism (13%)
Electric buses being flagged off in New Delhi in September 2023 (Photo by Manish Rajput)
RACING AHEAD
COMMERCIAL VEHICLE SALES (EX-SHOWROOM) WENT UP BY 26.7% IN FY24 AFTER GROWING 55.7% IN FY23, WITH REGISTRATIONS SETTING A NEW ALL-TIME HIGH OF 2.5 MILLION. WITH PREDICTION OF AN ABOVE NORMAL MONSOON, SALES ARE EXPECTED TO ZOOM AHEAD
  • 1.4 Million: Number of passenger transport vehicles registered in 2023-24, higher than the pre-pandemic peak of 1 million in 2018-19
  • 22.7%: YoY increase in registrations of construction vehicles to 22,040 in 2023-24, well above the pre-pandemic high of 17,963 in 2018-19
  • 55.4%: Share of passenger transport vehicles in FY24 of the total commercial vehicle registration, a jump from 45.6% last year
Crude oil tankers off Jurong Island, Singapore
A CRUDE AWAKENING
BRENT CRUDE, WHICH SURPASSED $90/BBL IN APRIL FOR THE FIRST TIME IN SIX MONTHS, MAY RALLY FURTHER DUE TO IRAN-ISRAEL TENSIONS. THIS COULD LEAD TO HIGHER INFLATION IN INDIA AND WIDEN THE TRADE DEFICIT. A LOOK AT THE NUMBERS
  • $16.9 BILLION: Value of India’s Brent crude oil imports in February, up 9% from $15.5 billion in January
  • 26%: Share of crude oil imports in India’s total import bill of $620.3 billion in FY24 till February
  • $225.3 BILLION: India’s trade deficit in FY24 till February, of which 37% or $84.3 billion is only on account of crude oil
A view of Mundra Port, India’s largest container dock
PORT OF GAIN
A MAJOR IMPROVEMENT IN AVERAGE TURNAROUND TIME AND A GROWING ECONOMY HAVE PROPELLED CARGO TRAFFIC AT INDIAN PORTS TO AN ALL-TIME HIGH OF 744.7 MILLION TONNES IN FY24 (TILL FEBRUARY). HERE’S THE STORY THROUGH NUMBERS
  • 140 MILLION TONNES: Rise in cargo traffic in the past three years. In FY24, till February, cargo traffic rose to 744.7 million tonnes
  • 16 SPOTS: Improvement in India’s ranking (38) on the World Bank’s Logistics Performance Index, among 139 countries
  • 67.1 MILLION TONNES: Of cargo was moved via major ports in the country in February 2024, compared to 65.5 million tonnes a year ago

IRDAI is targeting 100% cashless hospital treatment by July 2024, but is it viable?

IRDAI is targeting 100% cashless hospital treatment by July 2024, but is it viable?

Irdai aims for 100% cashless treatment in hospitals. It has notified insurers to put the necessary systems in place by July 31, 2024. But its 2023 annual report casts a doubt on the viability of this goal
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THE POINT

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Table of Numbers
Reposing Faith
Indicating optimism in the market, promoters, domestic fund managers, and global investors increased their stakes in various stocks across sectors in FY24, according to India Inc.’s latest shareholding data. Investors, both domestic and foreign, poured more than Rs 4 lakh crore into equities as the benchmark Nifty 50 rallied over 29% during the year. Here’s what the latest shareholding data reveals
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Columns

With the climate crisis becoming more acute, green hydrogen could be an important solution, writes Anujesh Dwivedi From gray to green: Can green hydrogen truly be a solution to combat the climate crisis? With the climate crisis becoming more acute, green hydrogen could be an important solution Anujesh Dwivedi
There is a need to move beyond individual well-being and foster a sense of interconnectedness and solidarity Humanising sustainability: Why there is a need to go beyond individual well-being There is a need to move beyond individual well-being and foster a sense of interconnectedness and solidarity Vaishali Nigam Sinha
Glimmer and Gold: Analysing the intrinsic value of startups Glimmer and Gold: Analysing the intrinsic value of startups Venture capitalists (VCs) and other investors employ different criteria and methodologies to evaluate startups at various stages of their growth, from the nascent pre-seed stage to the more mature late-stage. Pratip Mazumdar
Rajiv Memani is Chairman and CEO of EY India Can large-scale private sector deployment of AI change India's corporates for the better? Wide-scale private sector AI deployment and new AI-based business opportunities and ecosystems can truly supercharge the Indian economy Rajiv Memani
With India's progress, challenges have grown for the modern Indian CEO. These five action steps, therefore, are most crucial Five mantras today's CEO must remember in order to succeed With India's progress, challenges have grown for the modern Indian CEO. These five action steps, therefore, are most crucial Vivek Prasad
Gen AI is the future. In India, this revolutionary technology has already penetrated deep into the country's banking sector GenAI in banking: How the revolutionary AI technology is seeping deep into India's financial sector Gen AI is the future. In India, this revolutionary technology has already penetrated deep into the country's banking sector Sanjay Doshi / Vishnu Pillai
With its economic fundamentals in place, this decade could truly be India's if the reform agenda goes at the pace it is going now, writes Keki Mistry India's unlimited potential: Why the country needs to focus on its ongoing reform agenda, according to HDFC Bank's Keki Mistry With its economic fundamentals in place, this decade could truly be India's if the reform agenda goes at the pace it is going now, writes Keki Mistry
Keki Mistry
The MF industry is seeing a deluge of young investors. They are wired differently, and traditional ways of understanding investments may not be applicable any more How the mutual funds industry needs to factor in the 'youth factor' The MF industry is seeing a deluge of young investors. They are wired differently, and traditional ways of understanding investments may not be applicable any more
Aashish Somaiyaa
For the industry to continue its growth, insurers must understand where premium payments rank in customer expenses Right product for the right consumer: Here's what insurers must keep in mind to stay profitable For the industry to continue its growth, insurers must understand where premium payments rank in customer expenses Anup Bagchi
Pawan Goenka writes: 2023 was a watershed year for India's space ambitions. With private players growing, and start-ups increasing, the sector is poised to become the world's envy by 2029 Pawan Goenka's big prediction: Here's why India's space sector will become the world's envy by 2029 2023 was a watershed year for India's space ambitions. With private players growing, and start-ups increasing, the sector is poised to become the world's envy by 2029
Pawan Goenka

This foldable e-bike is a clean and green way to navigate a city’s streets. And it looks cool as well
Emotorad Doodle V3 review: The cool, eco-friendly foldable e-bike for city streets
This foldable e-bike is a clean and green way to navigate a city’s streets. And it looks cool as well
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Curated food festivals featuring world-famous chefs make gourmet experiences more accessible to enthusiasts World-famous chefs bring gourmet experiences to enthusiasts at curated food festivals
The rising trend of face yoga helps soften and relax your face muscles to alleviates tension and stress Face yoga's rising popularity: A natural way to alleviate tension and stress
For Nupur Garg, founder of Winpe, the secret hobby of solving large jigsaw puzzles is a bridge between her professional life and her pastime How Nupur Garg, founder of WinPE, uses jigsaw puzzles to bridge her professional life and personal pastime
As the City of Lights gears up for the largest sporting event in the world, we bring you a host of activities to enjoy in the French capital -- your love for the Games notwithstanding Paris prepares for the world's largest sporting event: Discover exciting activities beyond the games in the City of Lights
Melbourne is considered the cultural capital of Australia. But drive out of the city and explore the state of Victoria as well for some unique experiences Uncover Victoria: Journey beyond Melbourne to experience Australia's cultural heartland
Fashion brands are entering the restaurant space, as food seems to have become the ultimate fashion statement From wardrobe to table: Fashion brands make a delicious entrance into the culinary scene
Visit the Douro Valley in Portugal, the only region in the world that can legally produce port wine Douro Valley: Discover the birthplace of port wine in Portugal
Have you tried kombucha? It is a sour, slightly effervescent drink with supposed health benefits Unlocking the fizz: Explore kombucha, the tart, effervescent drink with health perks
For Khalid Wani, Senior Director of Sales at Western Digital India, life is much more than just the corner office. Biking across the world is one way he derives meaning for his life Beyond the boardroom: Khalid Wani of Western Digital India finds life's meaning in global adventure
Meet tempeh, the protein powerhouse your vegetarian diet needs Unlocking the protein potential: Here's tempeh, your vegetarian diet's new best friend

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Kapil Makhija, MD & CEO, Unicommerce eSolutions
'Zoom in to identify the real problem': How this advice changed Unicommerce eSolutions' Kapil Makhija's business strategy
BT Team
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