The new Bill is a replacement of the Financial Establishments Bill, 2009, with added provisions relating to search, seizure and attachment of properties of such companies.
Firms meet huge redemption pressure after deducting money from principal amount.
A day after about 1,200 media persons from Saradha Group media entities lost their jobs in West Bengal, the state government extended a helping hand. On Wednesday, government officials are set to meet these employees to try and find a resolution to the issue.
Given the hardships faced by the jute mill industry in West Bengal, one of the few surviving manufacturing sectors in the state, industry experts say a strike threat is looming large, which could lead to more lockouts.
Banks need to raise capital to comply with Basel III norms. This mode of raising money gives all shareholders equal investment opportunity.
India pays 55% of the value of oil its imports from Iran in euro payments through Turkey's Turkiye Halk Bankasi.
SBI too rules out cut in base rate in short term, to launch concessional schemes.
So far, the West Bengal government has raised Rs 5,000 crore (Rs 50 billion) as SDL from RBI, which is almost one-fourth of its total borrowing plans of Rs 20,071 crore (Rs 200.71 billion).
The 2,75,000 new jobs would cost a monthly Rs 300 crore (Rs 3 billion), officials with knowledge of the development said.
It is this increasing vulnerability of senior corporate executives towards litigations that has set the ball rolling for directors and officers' liability cover for insurance companies.
This month, ECGC -- the government organisation that provides insurance cover to exporters -- reclassified exports to Greece as 'risky' by withdrawing open cover insurance scheme for them.
The 100-year old Calcutta Stock Exchange is finally set to launch a trading platform, which will enable its members to trade on National Stock Exchange (NSE)-listed securities in the next one month, a move that will give the ailing exchange a fresh lease of life.
Dogged by brokers' interference, exits at the top and clash of opinions, regional stock exchanges still struggle to launch their trading platform.
Instead of taking loans from banks, they believe in forming groups - some acting as treasurers, others as accountants, credit officers or recovery agents - with Bandhan, one of the most active microfinance institutions (MFI) in the region.
Life Insurance Corporation (LIC) of India, which is conducting an internal probe into the bribe-for-loan scam that surfaced at LIC Housing Finance (LICHF) in November, has not detected any aberration as yet.
Micro-finance institutions (MFIs) are planning to take legal action against YES Bank's move to recall a part of its loans to them.
The ensuing liquidity crisis has prompted many MFIs to seek a moratorium on loan repayment to banks.MFIs raise 75-80 per cent of their funds via bank borrowings, 15 per cent from equity and another 10 per cent from other sources like cash securities.
The provision in the new mining bill approved by a group of ministers last week for 26 per cent profit sharing by mining companies with affected residents of the area they operate in hasn't been welcomed by many in the sector.
Arcil acquires non-performing loans from banks and financial institutions along with the underlying securities mortgaged or hypothecated by borrowers to the lenders.
Akula may be much celebrated, but he is not alone. There are dozens of MFI success stories, all of whom have surfaced over the last five-seven years, with a common mandate to "eradicate poverty", profitably. With a turnaround time for MFIs at one or two years, competition among the top few MFIs is intensifying to attract equity investments. Interestingly, with barely 15 per cent of rural households currently MFI borrowers, there is sufficient leeway for growth.
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