Non corporate finance jobs

Joydeep Sen The common refrain of debt fund investors is that returns nowadays are muted and lower than expectations. In some instances like liquid funds, returns are lower than bank term deposits. However, something positive is brewing in the background. And no, we are not going to give you high hopes about next year, that returns will improve significantly. We are talking of something structural, about the framework for debt funds. Let’s go back in time, three years or so. The atmosphere was about defaults by certain issuers. It started with IL&FS in September 2018, and one by one, many others broke. DHFL, ADAG group entities, and quite a few others. Even a bank; additional tier 1 perpetual bonds of Yes Bank were written off by the Reserve Bank of India (RBI) in March 2020. In the same month, at the start of the pandemic, there was significant redemption by foreign portfolio investors in debt, putting pressure on the system when liquidity was tight. Due to these systemic … [Read more...] about Good times ahead for debt funds, though returns are muted

Rajnish Kumar’s three-year term as State Bank of India (SBI) Chairman was a roller-coaster ride from Day 1. A pandemic, a private bank bailout and a deep economic slowdown – all happened during his term. Kumar played a key role in bailing out Yes Bank. During his tenure, SBI has substantially cut down the chunk of toxic assets and successfully completed the amalgamation process of its associates. In an exclusive interview with Moneycontrol, Kumar opened up about the challenges he faced. Edited excerpts: How tough was your three years as SBI Chairman? Kumar : There were many challenges in the last three years. When I took charge, the merger process (with associates) was on, and then AQR (asset quality review) happened. There was significant stress on the books. And, of course, IBC (insolvency and bankruptcy code) also happened during that period. Having said that, I feel one can get tested only when there are challenges. If you are only doing your routine job, there is … [Read more...] about EXCLUSIVE: SBI needs to be watchful about corporate NPAs, COVID-19 impact, says Rajnish Kumar

Any assessment of a government's performance invariably ends up at the economic door. At the start of Narendra Modi's ninth year as prime minister (PM), it is then pertinent to ask: how has the Indian economy fared so far? Making any straight comparisons between now and May 2014 would be unfair given the impact of the coronavirus pandemic. And even before the pandemic's end, Russia’s invasion of Ukraine upended all calculations again. "No one country today can plan for its recovery...because of these kinds of disturbances. Our recovery, not just of India, but for countries everywhere, will be severely hampered," Finance Minister Nirmala Sitharaman had noted in late February a day after Russia attacked Ukraine. But it must not be forgotten that India has attempted to kick-start its economic recovery multiple times in the last eight years. The first of these was soon after Modi took charge as PM in May 2014. Working in tandem with Raghuram Rajan at the Reserve Bank of … [Read more...] about Modi govt @ 8 | Pandemic hides economy’s past troubles as restart button hit again

When the government announced a vaccination programme for 12-14-year olds earlier this year, Neeta Singh (name changed), an educator at one of India’s biggest edtech unicorns, was excited as she thought she would be back in the classroom after almost two years. Singh said she was very keen to get back to her previous employer, a tutoring company, despite the lower compensation as she wanted to get out of the ‘extremely toxic’ culture at the edtech unicorn she had worked at for almost 15 months. “I am a single mother of two and I cannot stop working as both my kids are still in school. The local tuition centre I was working at had asked us to look for different jobs in March 2020, when the government announced the first lockdown,” said Singh. “Back then e-learning platforms were offering huge packages so I accepted it. I thought working from home would be better as I would be able to manage things better. But my incentives and job security were linked to the number of classes, … [Read more...] about Layoffs, restructuring, slowdown: India’s edtech firms are struggling post-pandemic

- A + A (June 23): U.S. companies borrowed 16% more in May to finance their investments in equipment compared to a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Thursday, as firms ramp up production to meet demand. The companies signed up for $9.4 billion in new loans, leases and lines of credit, compared with $8.1 billion a year earlier. "The economy continues to provide jobs and corporate America, in general, reports strong balance sheets - all in the face of a waning health pandemic," Ralph Petta, ELFA's chief executive officer, said in a statement. "Offsetting this good news is high inflation, creating havoc for many consumers, and continued supply chain disruptions and higher interest rates", Petta added. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 76.8%, down from 77.4% in April. The sustained rising interest rate environment, a pandemic overhang and … [Read more...] about US business borrowing for equipment rises 16% in May — ELFA