The outstanding loan amount is Rs 7,000 cr.
Move fuels fears of consolidation among unions of some small banks; won't force unification, clarifies finance ministry.
Spectrum auction and divestment proceeds likely to disappoint, subsidies are likely to overshoot the Budget target and there might also be some shortfall in tax collections.
The three govt-owned OMCs - IndianOil, BPCL and HPCL - together meet the country's entire LPG cylinder demand.
The Houston-based company is selling up to 50 per cent of its oil-sand reserves in Alberta. There are some producing assets and some exploration assets on offer.
A decision has been taken to gradually initiate Aadhaar and non-Aadhaar based LPG subsidy transfer through the OMCs.
According to RIL's announcement for the first quarter ended June 30, the KG-D6 field produced 33.1% less gas in the quarter.
In a marginal relief to consumers, IndianOil, the biggest oil marketing company, has cut petrol prices by Rs 0.56 per litre with effect from midnight today.
Those paying more than Rs 25 lakh in service tax will soon have to file their returns every month instead of once in six months.
IIFCL Chairman S K Goel says the recommendations are premature, as the state-run lender's role as a guarantor for long-term funds would depend on the success of the Credit Enhancement Scheme and Infrastructure Debt Fund.
Stuck projects to spring back to life with fresh lending; cut in end prices to benefit buyers.
A positive list for taxation of services might be back, though only for accounting purposes.
All current staff of BPCM is expected to transfer to the new owners under equivalent terms and conditions.
FinMin talking to Irda on many issues, meeting Chidambaram this week.
The government would take a hit of about Rs 6,000 crore (Rs 60 billion) this year if it rolls back the excise duty of Rs 1.5 per litre on diesel it levied last week.
IndianOil targets monthly 5,000-tonne polypropylene exports
Finance Minister P Chidambaram will soon have to decide whether to stick by his predecessor's choice of former Reserve Bank governor Y V Reddy for chairmanship of the 14th Finance Commission, to be set up next month.
The finance ministry is instead thinking of expanding the list of services on which the tax would be levied under the reverse charge mechanism.
The finance ministry may ask cash-rich public sector undertakings (PSUs) to invest in foreign assets that are currently available at cheap rates due to the global economic slowdown.
Finance Minister P Chidambaram has called a meeting of officials from life insurance companies on September 1. The meeting is aimed at improving insurance penetration and addressing concerns of companies in the sector.
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