Sunny Verma

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

Articles By Sunny Verma

Churn in NBFC sector: Mutual funds invest more, but pick safer options

MFs and investors have started differentiating between wholesale and retail NBFCs. While earlier MFs had been investing heavily in commercial papers and NCD (non-convertible debentures) of all NBFCs, now they are doing pick-and-choose based on the kind of business model,” an industry source said.

‘Encourage asset creation by reducing tax on equity; Budget must focus to boost investment’

In an interview with The Indian Express, Vikram Kirloskar, president, Confederation of Indian Industry, said the government should reduce tax on equity to encourage asset creation will lead to employment generation.

DHFL’s shadow looms over real estate and auto

While credit rating agencies downgraded its debt papers this week, sources within DHFL said that it has repaid Rs 100 crore of commercial paper liability maturing Friday.

SFIO: IFIN panel ‘failed to discharge’ duties, board decided ‘incentives’

Despite the worsening financial performance of IFIN over the years, the key managerial personnel kept getting salary hikes and incentives, the fraud office stated in its chargesheet.

SFIO Chargesheet: ‘IFIN audit panel connived with management to misrepresent a/c’

The chargesheet alleges that the audit committee effectively connived with the management of IFIN in misrepresenting its half-yearly accounts, and thereby getting favourable ratings from credit rating agencies.

Banking Stress: IBC amendments to usher in crossborder insolvency resolution

A panel by Ministry of Corporate Affairs had suggested adopting the United Nations Commission on International Trade Laws on cross-border insolvency.

Nirmala Sitharaman gets Finance, task cut out: at 5.8%, lowest growth in 20 quarters

This is the lowest growth rate in 20 quarters and puts India behind China after almost two years. The rate was lower than this at 5.3 per cent in the last quarter of UPA II or January-March 2013-14.

Budget priorities, arresting slowdown, reviving financial sector on Finance Minister’s table

Sitharaman would draw upon her experience of serving the previous Narendra Modi government, as a Minister of State for Finance, then Corporate Affairs and later as a Minister of State (Independent charge) for Commerce and Industry.

Finance ministry priorities: Freeing up resources for infra push, capital infusion in financial sector

Key challenge for the ministry will be to push economic activity to arrest fledgling GDP growth.

Citing health, Arun Jaitley opts out, PM Modi calls on him

In his letter, Jaitley, who has been undergoing treatment, said he has faced serious health challenges in the last 18 months and needs to recuperate.

As Arun Jaitley opts out, his imprint on policy reforms may stay the course

As Arun Jaitley underwent a surgery in the US in January for a reported soft tissue cancer in his left leg, the Modi government’s sixth and final budget of its current term was presented by Railway and Coal Minister Piyush Goyal, who was the stand-in finance minister.

Arun Jaitley opts out of new Modi govt, cites health reasons

In a letter addressed to Prime Minister Narendra Modi, Jaitley made a "formal" request to not be given any responsibility in the new government so that he can concentrate on his "treatment" and "health."

On the cards: Consumption, liquidity issues, labour reforms on the table of the new govt

The next phase of reforms roadmap is expected in the backdrop of a cyclical downturn. Gross Domestic Product (GDP) growth figures for January-March, to be released on May 31, are expected to depict a loss of momentum in India’s growth.

Easing NBFCs’ liquidity woes imperative for upcoming govt

The consensus is that the next government will have to step up capital infusion into public sector banks, two senior officials in the Finance Ministry told The Indian Express.

Explained: Why CPI inflation is rising, its impact on interest rates

Despite rising CPI inflation, analysts expect the Reserve Bank of India to cut repo rate – the rate at which it lends short-term funds to banks – as inflation remains within the RBI's target of 4 per cent even as growth of the Indian economy has been slowing down.

Lenders’ differences, legal challenges behind delay in resolutions under IBC

The IBC requires a corporate insolvency resolution process (CIRP) to be completed in 180 days, which can be extended by another 90 days to a maximum of 270 days.

NBCC seeks various concessions in resolution plan for Jaypee Infratech

NBCC plans to complete construction of the flats in phases between April 2021 and July 2023.

SEBI plans changes in debt fund norms to protect investors

The planned changes in rules are aimed at ensuring that mutual funds act as investors on behalf of the unit-holders, and not as lenders or bankers as has been found in recent cases.

Increasing forex reserve to help improve import cover

According to the RBI data while the forex reserves stood at $399.1 billion for the week ended February 22, it has risen sharply by over $19 billion over the last two months.

Explained: New SBI interest rate rules for savings account, short term deposits

On savings accounts with deposits above Rs 1 lakh, SBI will be providing interest rate to customers that is 275 basis points lower than the Reserve Bank of India's repo rate, resulting in effective rate of 3.25 per cent per annum as against the 3.5 per cent rate prevalent currently.