R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
The Empowered Group of Ministers looking into the Dabhol power project fiasco is likely to meet on Friday to discuss ways to restart the plant that has been lying idle for over three years.
Liquor baron Vijay Mallya, facing a case of loan default of over Rs 9,400 crore, is all set to be expelled from the Rajya Sabha as Chairman Hamid Ansari on Tuesday turned down his resignation on procedural grounds.
The Empowered Group of Ministers, which is looking into the debacle of the Dabhol power project
Puneet Wadhwa and Debashish Pachal locate real estate stocks to watch out for.
A detailed assessment and internal inspection of the Dabhol power plant equipment by concerned parties including NTPC, GE India and Bechtel is necessary to ascertain the time frame for restarting it.
Warship building projects worth at least Rs 630 billion have ground to a standstill. The defence ministry has halted tendering in wait for a government decision on whether to allow, or to exclude, Anil Ambani's shipbuilding firm from those contracts.
The government will soon come up with detailed guidelines for private banks including hike in the foreign holding from 49 to 74 per cent and allowing foreign banks to set up subsidiaries in the country.
Mallya, mired in a controversy for leaving India in the middle of a massive loan default probe, on Monday appeared to distance himself from an interview that quoted him as having said that time was not 'right' to return to the country.
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
Government has finalised the appointments of State Bank of India managing director A K Batra and former Industrial Development Bank of India deputy managing director T M Nagarajan, as the two new executive directors of Sebi.
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
Aditya Birla Group on Friday said it donated funds to political outfits through a trust for around 15 years and that these were done within permissible limits of the country's laws.
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
The Industrial Development Bank of India-led consortium may get the government's backing for taking over the outstanding dues of foreign lenders, as part of efforts to restart the troubled Dabhol Power project at the earliest.
Naman Ojha may not be India's No 1 Test wicketkeeper but he has hopes of making the national team for its next assignment in the longest format.
Talks have begun between Indian and foreign lenders of the Dabhol Power Company in Singapore to buy out the latter's debt exposure of over $310 million in the beleaguered company.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
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