'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
Though some operators offer the facility of tag lanes, such tags can only be used at designated points.
Modi is the first foreign leader to be invited to the palace by the Crown Prince, who appreciated the role played by Indian workers in the development of UAE as a modern nation, ministry of external affairs spokesperson Raveesh Kumar tweeted.
Rejecting Rajya Sabha's five amendments and opposition's appeal not to make "haste", the Lok Sabha on Wednesday passed the legislation that aims at better targeting of subsidies through the Aadhaar unique identity number within hours of the Upper Housing returning it.
The Aadhaar and Other Laws (Amendment) Bill, 2019 was passed in Rajya Sabha by a voice vote, although many parties including the Trinamool Congress and Dravida Munnetra Kazagham opposed it citing various reasons, including apprehensions data theft.
India Inc was, perhaps, watching out for a repeat of the dot-com bubble burst of the early 2000s.
'This updated NPR database along with Aadhaar Number would become the mother database and can be used by various government departments...' the home ministry declared in July 2015. 'UID/Aadhaar has been used as a fish bait to ensnare and entrap present and future generations of citizens,' warns Gopal Krishna.
The UIDAI, set up in 2009, will manage the generation and authentication of Aadhaar numbers.
Market breadth depicted gains with 1,476 advances over 1,403 declines on the BSE. 140 stocks remained unchanged.
Sensex in green, JSW climbs higher.
The US economy added 160,000 jobs in April, extending the longest streak of private-sector job growth on record.
According to Pakistan's National Counter Terrorism Authority (NACTA) list, which was updated on Tuesday, JuD and FIF were among 70 organisations proscribed by the ministry of Interior under the Anti-Terrorism Act 1997.
The time the companies have to get ready for GST is 6 to 12 months.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
A year ago, India's #MeToo movement witnessed women across India speak up against sexual harassment. Nikita Puri assesses what, if anything, has changed.
December 3, 2021 marks 50 years since the beginning of the 1971 War which ended in a decisive military victory for India and the liberation of Bangladesh. Most analysts of the 1971 War agree that the IV Corps dash across the mighty Meghna river led by the brilliant General Sagat Singh was the turning point in the war, recalls military historian Colonel Anil A Athale (retd).
Kerala has seen one of the worst floods in its history during this monsoon. From August 8 to 20, nearly 223 people have lost their lives, 33 are missing and around 1.2 million individuals from 3,02,441 families are in 3,941 relief camps. Initial losses are estimated to be around Rs 200 billion (Rs 20,000 crore). With the rescue measures in its last leg, the Kerala government is looking at raising funds to rebuild the state. In an interaction with Gireesh Babu and T E Narasimhan, Kerala Finance Minister T M Thomas Isaac says he has a three-pronged strategy to raise funds. Edited Excerpts.
NITI Aayog vice chairperson Rajiv Kumar tells Indivjal Dhasmana that additional funds could be generated through divestment, and that the fiscal deficit should be widened while focusing on the revenue deficit.
Given that there are hundreds of players in the shadow banking space, it's hard to make a credible estimate of potential NPAs. That creates more scope for panic, says Devangshu Datta.
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
The central bank had revised its inflation forecast significantly downward in the last policy
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
MCX has been struggling to raise funds with a rights issue, ending on Thursday.
How China's all powerful Communist party bungled the response to the coronavirus crisis.
Saeed, has been moved to an unknown location.
Facebook chief said he is getting to the bottom of exactly what the UK firm did, and telling everyone who may have been affected.
'We all wanted a strong Centre with a decisive mandate from the people, to allow them to take bold decisions.'
The flood-ravaged Srinagar city has been divided into three zones to expedite the cleaning up and sanitation operations, an official spokesman said on Tuesday.
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
The defence ministry has signed off on a national security plan that it cannot fund. Ajai Shukla reports
As against an annual average growth of 10-11 per cent envisaged for the industry during the period, the actual annual average growth stood at 7.2 per cent during the plan period.
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
A total of 16 bills, including the GST Bill, Lokpal (Amendment) Bill, Factories (Amendment) Bill and the Anti-Hijacking Bill are pending in Parliament -- five in Lok Sabha and 11 in the Rajya Sabha.
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Reliance, Birla Group, Airtel eye small finance banks.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
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