Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
'When the rupee was at 65 a dollar, we wanted to go to Thailand for a holiday.' 'Now at 72, we may find Goa much more attractive.' 'That's how correction happens.' 'If you don't let that correction happen, then it's a pressure cooker that bursts one day.'
At least a 25 basis points hike can be expected on the October 5 policy
In dollar terms, the Indian markets managed to climb back to 2008 levels only in January this year. The subsequent fall in the rupee because of emerging market woes has once again pushed the markets below their 2008 level in dollar terms.
Vijaya Bank assured employees that the service conditions 'will remain unaffected and staff benefits retained'
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
West Bengal signed an MoU with the Centre for jointly implementing Ayushman Bharat but so far officials have received no word about how it will be done and the deadline is almost here.
A senior executive of NIA confirmed the development and said that the insurance company is assessing damage to the airport's assets
Brokerage firm CLSA says in its interactions with government officials, measures such as the dollar-deposit scheme were under consideration.
The rupee has depreciated 10.5 per cent against the dollar this year, making it Asia's worst-performing currency.
Can we find fault with RBI for not intervening enough in the market? Actually no, say some experts. A correction in rupee was long overdue.
According to a government reply in Lok Sabha, as on June 30, 2017, there were about 109,598 cases pending across debts recovery tribunals, with recovery dues of Rs 635,500 crore.
Motor insurance is expected to generate largest claims for the companies whereas for crop insurance, the Agriculture Insurance Company is expecting claims of about Rs 15-16 crore
RBI's licensing norms require a bank to bring down promoter holding to 40 % within 3 years of operation - which, for Bandhan Bank, will be by Aug 23
Signs of financial stress were visible when the airline reported a loss of Rs 10.40 billion.
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
While there are several instruments in the RBI's disposal, the most effective one for infusing durable liquidity is bond purchase from the secondary market
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
At the end of March 2016, Uttar Pradesh was the most indebted state, with an outstanding liability of Rs 385,300 crore, followed by Maharashtra at Rs 351,400 crore and West Bengal at Rs 314,700 crore.
Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
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