India's best-known yoga televangelist has tapped into the security business, seeing an opportunity in Prime Minister Narendra Modi's measures to cut VIPs treatment for politicians and high ranked government officials. Indian yoga guru Baba Ramdev, above left, who developed Patanjali into a food and consumer goods giant, has now tapped into the security business. In July, Acharya Balkrishna, an associate…
Technology platforms can have a deep impact if it touches the underserved segments of the population. Keeping this in mind, Dalberg Advisors and iSPIRT have thrown open a competition to entrepreneurs to build their innovative solutions on India Stack platform The first wave of technology entrepreneurship in the country touched the upwardly mobile section of the population. This set the…
McDonald’s has terminated the franchise agreement underpinning its 169 restaurants in northern and eastern India, after nine years of conflict that have weighed on its efforts to expand in the country. When the US burger chain entered India in 1996, it launched two joint ventures, including one with New Delhi property tycoon Vikram Bakshi, which was responsible for McDonald’s outlets…
Why does the country have so many regulators? Who evaluates their performance? Senior cabinet ministers that included finance minister Arun Jaitley faced a volley of queries from young business leaders during an interaction organised by Niti Aayog. Prime Minister Narendra Modi joined the 200 young business leaders for an informal interaction later in the evening and will attend their detailed…
Home-grown private equity fund Everstone Capital is looking at selling its 45% stake in JS Hospitality, the company that runs Pind Balluchi chain of restaurants. The fund is expected to make 2-2.5 times its five yearold investment, said three people with direct knowledge of the deal. In January 2012, Everstone picked up 45% stake in JS Chadha-run JS Hospitality for…
The shareholders of Gland Pharma Ltd, including buyout firm KKR and Co., are considering selling a stake of up to 74% under the automatic approval route to China’s Fosun International after failing to secure government approval for an 86% stake sale so far, two people aware of the discussions said. The new structure is being considered as an alternative, in…
The bull market in India has produced another record: the world’s best-performing stock among companies that have a market value of at least a billion dollars. For most of its life the brokerage Indiabulls Ventures Ltd. wasn’t even part of that club. An 890 per cent rally this year has revitalised a stock that was listed in 2008, sunk as…
With a gong sound at midnight in Parliament’s Central Hall, India switched to GST, the single biggest tax reform undertaken by the country in 70 years of independence. Launching GST, President Pranab Mukherjee said it is a momentous event for the nation. "This historic moment is the culmination of 14-year-long journey that began in December, 2002," he said. Touting it…
As India moves for greater digitisation, Israeli financial technology companies are seeking a pie of the growing market in the country. They are exploring collaborations and partnerships with Indian companies and banks looking for digital-age solutions for their respective businesses. Nimrod Assouline, deputy chief of mission, Consulate General of Israel, told DNA Money, "We already have good collaborations in India…
Bengaluru: Paytm, run by One97 Communications Pvt. Ltd is seeking a licence from the Reserve Bank of India (RBI) to set up a money market fund where users can store cash and earn interest, in competition with banks, according to a person familiar with the matter. Paytm has applied to RBI to start the fund and increase its offerings to…