The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
The continued rise in interest is a pressure on fiscal, but it is not an easy way out unless the government cuts back on populist measures and sticks to fiscal prudence as laid out in the FRBM, which the government missed for the second consecutive year.
According to NSSO, more than half of India's working-age population is out of labour force. In 2017-18, the youth unemployment rate was in the range 13.6-27.2 per cent.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
With the two members quitting, the NSC now has only two members -- Chief Statistician Pravin Srivastava and NITI Aayog CEO Amitabh Kant.
A fresh global skill gap study shows how India can tap opportunities in Germany, New Zealand, Qatar, Malaysia, The Netherlands, Saudi Arabia, Singapore, Sweden, Switzerland, UAE and the UK.
FinMin finally sacked executive directors K V Brahmaji Rao and Sanjiv Sharan on January 18. The bank's board, however, had felt they had no criminal intent and it was a case of 'casual oversight'
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
After complaints that the new law may impact employment of women, the government has framed a scheme to provide monetary incentive to companies, reports Somesh Jha.
2018 has been a disappointing and highly volatile year for equity investors.
India imports 1.2 billion barrels of oil, and oil prices are falling, falling...
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
BMS allies with breakaway faction of Congress-affiliated INTUC. This marks a new chapter in India's trade union movement
The HR challenge seems to be one of the most important issues that RBI Governor Shaktikanta Das will have to tackle.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
'His (Das) approach to work seems that of working as a team with ease in communication.'
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances