BT Podcast: Ties with France will spur growth, says Suresh Prabhu : Bulletin: Business Today
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BT Podcast: Ties with France will spur growth, says Suresh Prabhu

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March 12, 2018

The relationship with France will help India grow in a big way: Suresh Prabhu
French President Emmanuel Macron's India visit has generated a lot of interest. Union Minister of Commerce and Industry Suresh Prabhu said France is keen on investing big in India, which will bring technology and wealth, and create jobs for the country's youth. Prabhu yesterday met a high-level delegation from France in New Delhi. India's "strategic partner" is a technologically advanced country, and the relationship with France will help the country grow in a big way, he added. Indian and French companies and government entities during this visit signed deals in New Delhi worth 13 billion Euro (over Rs 1 lakh crore) across areas like aviation, renewable energy and waste management.

PNB fraud: Overreaction may cause huge loss of confidence, says Assocham
Industry body Assocham has cautioned that overreaction by banks and the investigative agencies, in the backdrop of the PNB fraud, could hurt essential credit disbursement to the trade and industry and tamper growth expectations. It also emphasised that all efforts must be made by banks, regulators, government and India Inc to "limit the collateral damage from the alleged fraud in PNB". The chamber pointed out that one can learn from the US' experience of handling the global financial crisis of 2007-08, where the authorities worked at the root of their banking system and have put in place some robust risk mitigation and prudent system.

RBI turns up heat on lenders after $2 billion loan fraud
The Reserve Bank of India has asked commercial lenders to provide it with details of all letters of undertaking - a form of credit guarantee at the centre of an alleged $2 billion fraud - issued by them in the past several years, according to four bankers who have seen the directive. The regulator is mounting pressure on lenders, increasing its scrutiny and laying down deadlines for them to fix gaps in their systems, in the aftermath of the country's biggest bank fraud.

Jet Airways, Air France-KLM, Delta Consortium to Bid for Air India
Jet Airways, Air France-KLM and Delta Airlines  have expressed interest in the disinvestment of national carrier Air India, according to sources in a report by PTI. Moving ahead with the strategic disinvestment of loss-making Air India, the government is expected to soon invite Expression of Interest (EoI) from the bidders. Jet Airways' possible bid for Air India by way of a consortium also comes less than four months after the Naresh Goyal-led airline enhanced cooperation agreement with the Air France-KLM Group. While a group of ministers are still in the process of finalising the contours of Air India stake sale, the civil aviation ministry has so far said that officially it has received expression of interest from at least no-frills carrier IndiGo and an unidentified foreign airline.

France plans to commit 700 mn euros to International Solar Alliance
Reiterating France's commitment to the alliance and clean energy French President Emmanuel Macron has said France will commit 700 million euros to the International Solar Alliance, according to a Reuters report. ISA is an inter-governmental organisation that aims to mobilise $1 trillion in funds for future solar generation, storage and technology across the world. The treaty-based organisation, launched by Indian Prime Minister Narendra Modi in 2015, aims to promote solar energy in 121 countries.

Facebook, Twitter getting unpopular among millennials: Survey
The social-networking websites Facebook and Twitter are getting unpopular among millennials - a person reaching young adulthood in the early 21st century, according to a US-based market research agency, as reported by ANI. The Origin's survey has revealed that over 50 per cent of users between the ages of 18 and 24 had been "seeking relief from social media". 34 per cent of them had deleted their Facebook, Twitter, Instagram and dating app Tinder accounts entirely, the poll, conducted in last December revealed.
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