RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.
Air India buyer has to take over interest-bearing debt of Rs 16,500 crore a large portion of which is aircraft related, meaning they are backed by aircraft value
ICICI's board has denied any wrongdoing, highlighting that the loan was underwritten in accordance with the bank's credit standards and was extended as part of a consortium involving over 20 banks.
Government officials say a shareholding structure has been mandated to discourage non-serious bidders from accessing Air India's data room
And will sell its 50 per cent stake to State Bank of India in Russia as part of rationalisation of overseas branch network.
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
The next step is the charter, which aims to safeguard consumer rights and address criticism about the government not doing enough for passengers.
This is a setback for the divestment process of Air India as no other Indian airline has the capability to fund the process
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
The government is betting on the fact that it will be conducive for the new owner to give voluntary retirement scheme
IBoard defends MD on nepotism charges, quashes allegations; it also reviewed its internal processes and exposure to the Videocon group
If the government is asking a maximum price for Air India but asks to keep old personnel, it will not match.
'We are making a transition from governance to campaign mode.' 'The speed of execution is picking up,' says Union Minister Jayant Sinha.
Grounded Indian planes will be up in air by end of April says company president
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
Government to ask airlines to educate flyers. 'It will be an exhaustive charter which will tell the passenger about all their rights, like whether they are eligible for a refund when there is a delay in flight, what to do in case of a flight delay and other in-flight etiquette.'
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
I&B Ministry, Prasar Bharati are in tussle over ministry's directives, reports Shreya Jai and Arindam Majumder.
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
In contrast to its global peers, a lion's share of Delhi airport's growth came from domestic flyers, which, at 46.6 million, makes up for 73 per cent of the total number of passengers.
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