The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
An eminent Indian official has been named on a United Nations inquiry panel set up by the world body's chief Ban Ki-moon to probe the presence of arms in UN premises in the Gaza strip and the damage to its facilities during the conflict between Israel and Palestinian factions.
Jaitley said the total gross NPA ratio has gone up to 4.03 per cent in 2013-14 from 3.42 per cent in 2012-13 and 2.94 per cent in 2011-12.
The Canadian Olympic Committee apologised to its employees on Wednesday and unveiled sweeping changes to workplace policies in the wake of a sexual harassment scandal that forced former president Marcel Aubut to resign.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
With a view to protect prudent commercial decision of bankers, the government has taken a slew of decisions, including doing away with personal responsibilities of MD and CEO of PSBs for compliance in dealing with large value frauds committed by bank officials.
'What this incident must do is provide a renewed impetus to urgently bring in police reforms; changes that will ensure that political patronage and extraneous pressure are reduced to a minimum and allow the police to function independently and honestly,' argues Vivek Gumaste.
The interim dividend will help Narendra Modi-led government partly bridge the deficit its budget had developed after the announcement of a Rs 75,000 crore a year cash dole scheme for small farmers.
Existing trade deals, especially the 2009 pact with the Asean bloc, have been panned by the Centre for not boosting exports but flooding the domestic market with cheap imports. Subsequently, New Delhi has called for reviewing FTAs with Japan and South Korea. Going by that, a trade deal with the US is unlikely to be beneficial, say experts.
With Goods and Services Tax (GST) officers under pressure to exceed the Rs 1-trillion collection mark per month, industry has faced a barrage of recovery notices and summons issued over the last one month across sectors, according to company executives. Industry bodies have claimed harassment by field officers, blocking of input tax credit, cancellation of GST registration, threats of arrest and steep penalties, impacting their working capital and operations. Company executives pointed at an atmosphere of apprehension and fear due to such notices and summons.
Experts believe the new norms may be an indirect way for Sebi to apply the brakes on dividend option plans in MFs.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
The remaining 0.35 per cent will be credited in December this year, if the EPFO is able to redeem its equity investments.
Indian politics, held captive in one way or the other by Ayodhya, may now well seek its emancipation from this issue, and the pursuit of welfare, asserts Congress leader Salman Khurshid in this excerpt from his latest book, Sunrise over Ayodhya.
Some of the proposals include redrafting transfer and placement policy for IRS officers, strengthening the cadre restructuring, rebranding of IRS, robust deputation policy and creation of encadred post in other ministries and government department.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
Sonam Kapoor is exceptional as Neerja Bhanot, says Raja Sen.
More than 1,000 independent directors have quit since January 2017; more could be on their way out
The decision comes in the backdrop of the Rs 7,800 crore fraud at Satyam. Independent directors in other firms have also resigned from their board positions in recent months. "It is possible they may have left due to some other reasons, but if any director has left intentionally and was aware of any wrongdoing, then the matter would be reported to the regulator concerned," says ICAI President Uttam Agarwal.
The company's total income was up 2.2 per cent to Rs 13,480 crore in the quarter under review from Rs 13,183 crore in the corresponding quarter last year
The Australian cricket board said it is comfortable with the level of security provided to their Champions Trophy team following Saturday night's attack in London that killed seven people.
Firms denied peer review certificate may be barred from auditing
Executive Director of Greenpeace India, Samit Aich and Programme Director Divya Raghunandan have resigned.
Driven by addition in equity fund folios, mutual fund houses have registered a rise of over 3.5 lakh investor accounts in the first eight months of the ongoing 2014-15 fiscal.
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
Of the Rs 4,405 crore unpaid debt of 12 companies, more than half was locked in just one Mumbai-based real estate company, Kohinoor CTNL Infrastructure.
The banned Jamaat-ud-Dawah head has hired Lahore-based law firm -- Mirza and Mirza Law Associates -- to file the petition.
The regulator has extended the deadline by 45 days till June 30 for submitting half-yearly financial results for NCDs, NCRPS and CPs, while it has given a time period of another 30 days till June 30, for filing annual earnings.
A committee suggested that CSR expenditure be made tax deductible, in order to incentivise spending by companies. It also said that CSR should not be used as a means of resource-gap funding for government schemes.
'I hope the Centre and the states will both act in the spirit of cooperative federalism and find acceptable solutions without testing the law and the limits of each other's power.' 'This should not be considered a wrestling match.'
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
The move, amid a rise in slippages from restructured assets, is aimed at resolving stress in the banking system.
The Securities and Exchange Board of India's decision to subject all Nifty and Sensex companies to a peer review of their accounting statements, may not be a bad idea, if some pitfalls are avoided.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
While the declarations under the scheme have to be filed by December 31, 2020, the government had in October extended the deadline for making payment by three months till March 31, 2021, in view of the ongoing Covid-19 pandemic.
In 2009, FinMin proposed to move regulators' reserves into public account. These accounts were finally opened in 2013-14. However, no funds have been deposited in it so far.
The Tata Steel Group has extended substantial financial support to the UK business and suffered asset impairment of more than 2 billion pounds in the last 5 years.
Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year.
The Centre stressed that the next three weeks will be critical for the country reeling from the worst health crisis as it announced a series of measures to shore up medical infrastructure and supplies and scale up vaccination.
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