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Tag: RBI

  • Hathway Cable gets board nod to hike FII limit to 74 per cent

    Hathway Cable gets board nod to hike FII limit to 74 per cent

    MUMBAI: It was in 2012, when the government had relaxed foreign direct investment (FDI) limit in direct to home (DTH), cable TV industry and teleports from 49 per cent to 74 per cent. In keeping with this, Hathway Cable & Datacom which early this week became the first multi system operator (MSO) to have crossed the $1 billion mark in terms of enterprise valuation, is now probably looking at attracting overseas capital into the company.

    The MSO has in an announcement to the BSE informed that its Board of Directors have approved and passed the resolution to increase the foreign investment limit from the current 49 per cent to 74 per cent, this subject to approval from the Foreign Investment Promotion Board of India, Ministry of Finance and/or the Reserve Bank of India.

    “Subject to receipt of approval of the Foreign Investment Promotion Board of India, Ministry of Finance (FIPB) and / or the Reserve Bank of India (RBI) and all other applicable authorities, increasing the foreign investment limit only by Foreign Institutional Investors, Foreign Portfolio Investors, etc. under the Portfolio Investment Scheme in accordance with Schedules 2 and 2A of the Foreign Exchange Management Act (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 in the Company from 49 per cent to 74 per cent of the issued arid fully paid-up share capital of the Company,” reads the announcement.

    The Hathway Board has also passed the resolution of a postal ballot notice along with the explanatory statement and calendar of events for seeking approval of the shareholders of the Company by postal ballot for its foreign investment proposal.

    According to Hathway Cable & Datacom CEO and MD Jagdish Kumar Pillai, the cable TV sector is becoming lucrative for foreign investors. Pillai had earlier told Indiantelevision.com, “With broadband and cable TV getting more transparent, the market is viewing this as a great industry to invest in the next five years, and that’s reflected in the balance sheet. It is a promise of a good potential.”

    With the industry getting more organised courtesy its digitsation drive, Pillai expects more foreign investors to pump in funds into the cable TV sector.

     

  • Indians Optimistic About Future: Ipsos Study

    Indians Optimistic About Future: Ipsos Study

    MUMBAI: 50 per cent Indians are optimistic about Indian economy and expect that the economy will be stronger in next six months, a rise of two points, according to a report by global research firm Ipsos.

     

    According to the “Ipsos Economic Pulse of the World” study, India’s economic confidence level has declined to 58 per cent in March 2014, a decline of three points. However, India continues to hold sixth position as the most economically confident country in the world after Saudi Arabia, Sweden, Germany, China and Canada.

     

    Only 35 per cent Indians believe that the local economy which impacts their personal finance is good, a drop of two points.

     

     “Inflation in India increased on account of higher food costs in March, breaking a three-month easing trend, this would give RBI little scope to support the economy amid fresh signs of slowdown,” said Mick Gordon, CEO, Ipsos in India.

     

     “However Indians are hopeful that the new central government which will come to power with fresh mandate in May will bring in stability, push economic growth and build investor confidence,” added Gordon.

     

    The online Ipsos Economic Pulse of the world survey was conducted in March 2014 among 18,675 people in 25 countries.

     

    Holding steady for a second month in a row, the average global economic assessment of national economies surveyed in 24 countries remains unchanged this month as 38 per cent of global citizens rate their national economies to be ‘good.’

     

    Saudi Arabia (86 per cent) remains the top-ranked country on this measure, but runner-up countries are not far behind: Sweden (80 per cent), Germany (76 per cent), China (69 per cent), Canada (66 per cent) and India (58 per cent). Those least likely to rate their national economies as ‘good’ are in Spain (6 per cent) and Italy (6 per cent) followed by France (10 per cent), South Korea (16 per cent), Hungary (17 per cent) and Argentina (18 per cent).

     

    Countries with the greatest improvements in this wave: Sweden (80 per cent, 11pts), Russia (39 per cent, 7pts), South Africa (21 per cent, 4pts), Canada (66 per cent, 3pts), Hungary (17 per cent, 3pts) Germany (76 per cent, 2pts) and France (10 per cent, 2pts).

     

    Countries with the greatest declines: Egypt (36 per cent, -20pts), South Korea (16 per cent, -7pts), Japan (25 per cent, -4pts), Argentina (18 per cent, -3pts), Poland (22 per cent, -3pts), Australia (54 per cent, -3pts) and India (58 per cent, -3pts).

     

    Six in ten Brazilians (58 per cent) indicate they predict their local economies will be stronger in the next six months. The rest of the highest-ranking countries are: India (50 per cent), Saudi Arabia (49 per cent), Indonesia (42 per cent), China (36 per cent), Argentina (33 per cent) and Egypt (33 per cent).

     

    Only one in twenty (5 per cent) of those in France expect their future local economies will be “stronger” in the next half year, followed by  Belgium (8 per cent), Hungary (12 per cent), Poland (14 per cent), and South Korea (14 per cent).

  • Doordarshan to telecast RBIQ this year

    Doordarshan to telecast RBIQ this year

    MUMBAI: A partnership between RBI and Doordarshan led to the production of the second edition of the quiz conducted by RBI called RBIQ. The quiz that was conducted across 4,000 schools in 42 cities saw the finals being held at the Doordarshan studio in Mumbai, the production for which was done by DD on 2 October. It has recently revamped its whole studio by making it HD friendly.

     

    The inter-school quiz was started last year to impart financial literacy to the country’s students. RBI governor Raghuram Rajan was present for the finale that saw the students of Maharshi Vidyamandir Public School of Guwahati take home the trophy. Questions asked were from the fields of banking, finance and general knowledge.

     

    The show will be telecast on DD in the coming few weeks, the date is not yet finalised. Last year, it was telecast on Zee Business. The number of students participating this year was up by 1,000.