Sunny Verma

Profile

Sunny Verma is an Assistant Editor with The Indian Express and writes on economy and finance.

Trading Restriction on 331 ‘shell firms’: Sebi stick falls evenly on erring and better-run
Tue, Aug 22, 2017

Of the total, 162 actively traded companies’ financials show that several firms on the Sebi list have operational businesses and have been reporting quarterly revenues and profits on a regular basis

Refinance by govt up 5.62% to Rs 3,525.94 cr in 2016-17
Mon, Aug 21, 2017

Sharp fall in refinance to public sector banks, down 28.90% to Rs 1,886.73 crore

Goods and Services Tax: Businesses struggle with multiple tax rates, returns
Tue, Aug 15, 2017

Entities face issues such as difficulty in coding items in HSN codes, need for filing service tax returns for each state of operation and likely challenges in matching of invoices under the new indirect tax regime.

Non-performing assets: Govt-run banks write off record Rs 81,683-crore bad loans in FY17
Mon, Aug 07, 2017

An increase of about 41% as compared with the previous year’s Rs 57,586 crore: Finance ministry data

Sikkim standoff may derail business progress achieved in recent years
Sat, Aug 05, 2017

Doklam standoff: The investment exposure of Chinese companies in India over the last 17 years, which remains limited to a cumulative FDI inflow of $1.63 billion (Rs 10,094 crore) as on July 31, 2017, shows a notable rise in Chinese business interest over the last three years.

Govt moves to check benami, Aadhaar to be made must for property deals
Wed, Aug 02, 2017

The government has also firmed up plans to enable electronic registration of properties, for which Aadhaar-based authentication will be a prerequisite.

Arvind Panagariya raised red flags, couldn’t stop power centres within
Wed, Aug 02, 2017

In January, Arvind Panagariya had raised the first red flag on the possibility of taxpayers being harassed post-demonetisation and had reportedly written to the Prime Minister’s Office.

Niti Aayog’s Appraisal of the Twelfth Five Year Plan: Low manufacturing growth holds back job creation
Tue, Aug 01, 2017

Higher focus on capital-intensive and high-skilled sectors in India has led to fast growth only in segments such as automobile and telecom which do not employ low-skilled workers; as a result of this, vast majority of workers remain concentrated in agriculture and unorganised sectors

Benami Transactions: Government provisionally attaches properties in 233 cases
Mon, Jul 31, 2017

Government data show that while the value of attached properties is Rs 813 crore, those attached in Kolkata region alone accounted for Rs 477 crore or more than 58 per cent of the value of benami properties under provisional attachment.

Govt suggests RBI to freeze accounts of defaulting firms
Sat, Jul 29, 2017

The Reserve Bank says it has no powers to freeze such accounts currently

At employment exchanges, rise in applications but less than 1% get jobs
Wed, Jul 26, 2017

While Gujarat comes on top in terms of providing placement through exchanges, it isn’t the top state when it comes to the number of job-seekers. That’s Tamil Nadu with more than 80 lakh registrations with employment exchanges in first nine months of 2015, as against Gujarat which had only 6.88 lakh registrations.

Twelfth Five Year Plan: On weak economy, infrastructure investment projected to decline sharply
Wed, Jul 26, 2017

The Central government and states’ investment in infrastructure sectors put together is estimated at 88% of their original Plan estimates

10-year review of PSU banks’ equity return: Profitability fails to keep pace with govt capital infusion
Tue, Jul 25, 2017

Profits deteriorated sharply in the last two years as NPAs spiked and the RBI-mandated asset quality review forced them to make higher disclosures of non-performing loans.

‘Clear case of organisation form or legal form abuse, without reasonable business purpose’
Wed, Jul 19, 2017

I-T demand of tax on $150 million investment in NDTV

Proceedings under IBC: Bankruptcy filing picks up to deal with mounting bad loans
Tue, Jul 18, 2017

The number of cases under the Insolvency and Bankruptcy Code 2016 went up to 87 in June, compared with 7 in January. On a quarterly basis, 202 cases were admitted in April-June as against 35 in January-March, as per data from NCLT benches

Non-Performing Assets: Loan stress in infrastructure may wipe out banks’ entire profits, says RBI
Wed, Jul 12, 2017

‘Most severe shock of 15% of restructured standard advances and 10% of standard advances becoming NPAs will eliminate banks’ profits for 2016-17’

Delhi, Hyderabad account for a third of de-registered firms
Mon, Jul 10, 2017

On July 1, at the ICAI event, the PM said that while transactions of more than 3 lakh companies were under the radar of suspicion post demonetisation, he said that “one lakh companies were struck off the list by the stroke of a pen.

Home loan firms want lock-in period before balance transfer
Fri, Jul 07, 2017

Those in favour of imposing a lock-in period say it is creating unnecessary churn within the industry, with the beneficiaries being agents and brokers who earn a fee on the same.

Caution key for investors amid surge in IPOs
Fri, Jul 07, 2017

The recent spurt in IPO listings has given retail investors a variety of choices, but experts suggest them to be selective and not lose focus on listed stocks

Two years of Mudra: Gains for small business, but new players struggle amid fears of NPA rise
Tue, Jul 04, 2017

While small businesses appear to be benefiting from the Mudra scheme, the absence of a transaction history acts as a major impediment for new borrowers

For upstream companies: Exemption of petro products from GST to push up cost of production
Fri, Jun 30, 2017

One of the reasons petroleum products such as crude oil, natural gas are not part of the GST is the reluctance on part of the states and the Centre to share this steady stream of revenues from the sector, which is a cash cow for them.

Innovation: A smart city that saves an hour a day
Sat, Jun 24, 2017

Finland’s citizen-centric Kalasatama project, which gives start-ups a platform for innovation, aims to free up one hour for its residents everyday by offering smart mobility and daily-use apps

Meaning GSTIN: PAN-based ID to simplify process, boost collections of indirect tax
Thu, Jun 22, 2017

The first two digits of the 15-digit GSTIN represent the state code as per the Census of India, 2011. The next 10 digits are the taxpayer’s PAN. The The thirteenth digit is assigned based on the number of registration within a state. The fourteenth digit is Z by default. The last digit is the check sum digit code.

Too hot to fly — why?
Wed, Jun 21, 2017

Extreme heat alters the density of air, making it thinner. Thin air prevents generation of required ‘lift’, and makes it more difficult for aircraft to take off. Thus, as it gets hotter, planes need progressively longer runways and greater engine power to reach the speeds needed to become airborne.

‘Basic income reduces bureaucratic process’
Tue, Jun 20, 2017

The Nordic country is currently collating database of 2,000 unemployed people who are paid tax-free €560 each a month under a two-year universal basic income experiment started in January.

Standoff over rates: RBI panel said no to meeting with Finance Ministry before review
Thu, Jun 08, 2017

Central bank resists, doesn’t cut; Govt says there’s strong case for easing rate

Shipping sector cost optimisation: Uptick in capacity addition amid falling expenses
Wed, Jun 07, 2017

While FY17 saw capacity addition of 86.59 MT, which is 1.5 times of that added in FY14, the ports spent only Rs 1,196 crore during the period

Airlines flying to or from Qatar: UAE asks foreign carriers to seek ‘prior approval’
Tue, Jun 06, 2017

Currently, Jet Airways, Air India Express and IndiGo are among the Indian carriers flying to Doha directly.

Airports Authority expects to monetise 7,000 acres of land
Mon, Jun 05, 2017

The civil aviation ministry has started inter-ministerial consultations on amending the Airports Authority of India Act, 1994, to expand the scope of usage for land owned by the Authority.

18 months of infra fund: no foreign investor and not one investment
Sat, Jun 03, 2017

The NIIF was set up with a targeted corpus of Rs 40,000 crore over the years— 49 per cent of this amount to be funded by the government and the remaining to be raised from domestic and global investors, including international pension funds, sovereign wealth funds, among others.

Strategic, operational benefits from the merger below expectation: Jayant Sinha
Wed, May 31, 2017

Minister of State for Civil Aviation Jayant Sinha said Air India and Indian Airlines merger in 2007 did not yield the desired strategic and operational benefits as was expected.

Govt’s Air India revival plan: Disinvestment, privatisation on the table
Wed, May 31, 2017

With state-run carrier Air India reeling under financial pressure, the chorus for its disinvestment has off late gained momentum, with Finance Minister Arun Jaitley being the latest to have suggested the same.

Firms paying rating agencies is conflict of interest, RBI has a plan
Thu, May 25, 2017

This is aimed at gradually replacing the existing practice wherein the borrower or the issuer company pays the agency rating its credit worthiness, leading to a clear conflict-of-interest.

Infrastructure Projects: Centre puts tough conditions for state entities borrowing overseas directly
Wed, May 24, 2017

Direct funding from external agencies available only for project with regular revenues that are able to provide for repayment of principal and interest

For weaker PSBs: Capital infusion to be performance-linked
Tue, May 23, 2017

The finance ministry has set some conditions before public sector lenders with not-so-strong finances, like reducing NPAs, and shutting down not-profitable branches for capital infusion

Approval to INX: Little memory of case, law will take its cours, say FIPB members
Wed, May 17, 2017

Apart from the DIPP secretary, the FIPB comprises the commerce secretary, economic affairs secretary, overseas Indian affairs secretary and economic relations secretary in the Ministry of External Affairs.