Interview with managing director and head of equities, India, Nomura
The brokerage firm has reported a fourth-quarter net loss of $173 million
Implementation of 7th Pay Commission, interest payments on Uday bonds, over-budgeting of their share of tax transfers from the Centre and election-related spending are the reasons
Japanese firm confirms it will cut some businesses in region; operations overseas have been unprofitable since 2010
Moreover, this is expected to reduce the interest burden for the central government