- The cosy arrangement of "see-no-evil, speak-no-evil" between research analysts and companies in India was shaken in July 2011 when Veritas started analysing large Indian companies. But will its efforts change the way Indian analysts are going about their work?
India expects the recent change of guard in China to usher in more equitable trade relations between the two countries. The first clarification from UB Group Chairman Vijay Mallya, after he announced the sale of a controlling stake in United Spirits Ltd (USL) to Diageo Plc, was that the funds from the deal need not flow to the ailing Kingfisher Airlines. Every year, hundreds of thousands of people converge on Thrissur, Kerala, for its spectacular temple festival. But Thrissur is remarkable also for another reason: this city of 400,000 people is the only small town in India that is home to three private-sector banks. In an exclusive interview, the chairman of ICICI Bank and Infosys speaks on a range of issues - from the macroeconomic challenges to the problem of crony capitalism confronting India.
The Bose SIE2i are the perfect earphones for the gym, while Sony's Vaio T Series (11-inch) is a value for-money ultrabook. Shrinking IT budgets in the US, and not Barack Obama's anti-outsourcing rhetoric, will hurt the Indian software industry, which has to move away from showcasing benefits out of hourly billing models, says the CEO of iGate. Institutional capacities to combat corruption have lagged behind as India embraced liberalisation, globalisation and technological advances at a rapid pace, says CII President and Godrej Group Chairman Adi Godrej. Indian banks have kept the economy's lifeblood flowing in good times as well as bad. Some key statistics - The BSE is the oldest stock exchange in Asia with a market capitalisation of over $1 trillion with around 5,000 listed companies, making it the world's 14th largest stock exchange. The KSE has a market capitalisation of $40 billion with 652 listed companies. This has largely to do with the surge in stock prices this year, even as the primary market remained somnolent. The biggest open market exit was Carlyle Asia Partners quitting Housing Development Finance Corporation Ltd (HDFC) for $841 million in October. Harvard Business School professor Robert S. Kaplan evolved a performance metric, the Balanced Scorecard, for businesses. He spoke to Business Today's Manu Kaushik on a recent visit to India. Who said what when IIP contracted 0.4 per cent in September - Smog is an annual phenomenon in northern India during the winter months. This year, however, it has descended much earlier than usual and is also surprisingly thick, especially at night.
The projector has undergone a transformation over the past year, thanks to new technology.
It is placement season, when students graduating from business schools must gear up to meet prospective employers. And companies visiting campuses are increasingly using competitions to recruit the best among them.
Lately, hit either by the persisting economic downturn, the high interest rates or their own over-leveraging, a number of high-profile companies have sought to restructure their loans. Is it getting too much? From providing plain vanilla banking services, banks have gradually transformed themselves into universal banks. ATMs, Internet banking, mobile banking and social banking have made "anytime anywhere banking" the norm now. The banking sector has changed a lot, and is set to be transformed even further. Foreign banks continue to enter India, despite its restrictive regulations, because of the vast opportunity the country offers. They now constitute the largest segment of scheduled commercial banks in the country. In the Business Today-KPMG study 2012, YES Bank has emerged the best midsized bank, edging out close rivals such as Kotak Mahindra Bank and DBS Bank as well as last year's winner, IndusInd Bank. Rana Kapoor has taken YES Bank to the top in its category. He now wants to rapidly grow the retail business. Electronic transactions are fast catching on. Technology is not only making banking convenient for customers, it has also allowed banks to expand their businesses faster. The cost of servicing a client is highest at a branch followed by ATMs, online and mobile phones. The Indian banking sector is coping with an increasingly risky environment after four years of the global financial crisis. Even as pinstripe-clad bankers tighten their belts, Business Today and KPMG together raise the annual toast to the best in the industry. The 104-year-old public sector lender has, for the second year in a row, emerged India's best bank in the Business Today-KPMG study, ahead of all the seemingly more nimble and market savvy private banks that have sprung up in recent decades. Reserve Bank of India Governor D. Subbarao discusses the state of the banking industry and its future challenges with Chaitanya Kalbag and Anand Adhikari. The real contribution of private sector banks has been to transform the way banking is done in India, says Chanda Kochhar, the MD & CEO of ICICI Bank. Here's a look at the top banks in India in various categories - Large Banks, Mid-sized Banks, Small Banks and Very Small Banks. The data used for the rankings was based on published annual reports of banks and the Reserve Bank of India's Profile of Banks, 2011/2012. Some banks have found ways to grow while preserving or even improving the quality of their assets and service.
News you may have missed over the past fortnight: gold demand in India rises by 9 per cent, 2G spectrum auction fails to generate big money, RIL facing challenges in getting project approvals and more.
Business Today readers write in with their feedback on the magazine's coverage.
People in news last fortnight: Hindustan Unilever's Leena Nair, Datawind's Suneet Tuli and more.
Analysts' reports that are critical of companies are always contentious; company boards take analysts' meetings very seriously and with trepidation.
'Gujarat: Governance for Growth and Development' examines the reasons for the state's success.
Brown-Forman Spirits Area Director Amrit Kiran Singh admires Ratan Tata the most.