The Reserve Bank of India (RBI) plans to impose stricter limits on how much a bank can lend to a single corporate group, a move aimed at curbing risk in the banking sector at a time when bad loans are on the rise.
The CBI has launched an initial probe over the loan against both companies, a spokeswoman for the agency said on Saturday.
Piramal, controlled by billionaire Ajay Piramal, and APG will invest in local infrastructure companies through rupee-denominated mezzanine instruments.
If completed, the move would create a 50-50 joint venture valuing Reliance Communications' cable assets at $1 billion.
The moves by the RBI, announced late on Wednesday, should increase supplies of gold and brighten the earnings outlook for jewellery makers after the government took tough measures to curb imports last year, analysts said.
If completed, the 50-50 joint venture would value Reliance Communications' cable assets at $1 billion, the newspaper said, adding Citic Telecom beat out two other bidders from West Asia earlier this month.
He said the total capital requirement for state-run banks is Rs 455 billion ($7.6 billion) in 2014/15 fiscal year, much lower than the Rs 113 billion provided for recapitalisation in the interim budget in February.
The British mobile phone operator was widely expected to go for an international arbitration after its talks with the Indian government failed to find a solution last year.
The directives will apply to both passenger and cargo planes, the Directorate General of Civil Aviation said in a statement on Wednesday.
Mumbai-based Reliance Communications increased voice call prices by about a fifth late last month and also increased the base tariff for voice calls.
Two individuals filed the petition in the high court of Andhra Pradesh
Gandhi was the executive director at the Reserve Bank of India before being promoted to deputy governor post.
The company has similar pact with Bharti Infratel.
Rajan warned against waiting to act until inflation expectations become entrenched, but also said the Reserve Bank of India would overlook temporary spikes in inflation.
India does not have a formal bankruptcy process. Liquidation pleas could take years before a final verdict.
The Delhi Electricity Regulatory Commission said the surcharge was for a period of three months from February 1 or until any further order.
Bharti Airtel, nearly a third owned by Southeast Asia's top phone carrier SingTel, said it was helped by lower competition and an increase in voice call prices.
Telecommunication companies buying airwaves in an Indian auction next month will pay 5 per cent of their revenue as an annual fee.
Ajit Singh says will seek cabinet nod to scrap 5-year, 20 aircraft rule.
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
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