The Reserve Bank of India also banned with immediate effect issuance of letters of comfort which, like LoUs, are used by importers to fund their overseas purchases.
A strong demand was made in the Lok Sabha to eliminate online betting and gambling applications. YSRCP member Maddila Gurumoorthy urged the government to set up a dedicated task force to take action against betting and gambling apps. He also asked the government to draft regulations for such applications and launch awareness campaigns about the dangers of online betting. Other issues raised included deposit insurance coverage for bank depositors, representation of Scheduled Castes in the Kerala government, challenges faced by nurses, and the need for paramilitary forces in Jharkhand during upcoming Hindu festivals.
Low cost airline SpiceJet and Swiss firm Credit Suisse AG on Thursday told the Supreme Court they have resolved their financial dispute. The apex court then permitted SpiceJet to withdraw its appeal against a Madras high court verdict ordering that the airline be wound up on account of alleged non-payment of dues to Credit Suisse AG. "There is a settlement which has taken place on May 23, 2022 as per the consent terms.
By choosing your study destination carefully, leveraging government schemes, comparing loan options, and adopting frugal living practices, Indian students can acquire global credentials without mortgaging their futures.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
More than five years ago on an April evening, cash-starved Jet Airways announced temporary grounding of operations after flying as a full service airline for 25 years. Since then, more than 20,000 jobs and money worth thousands of crores owed to lenders, vendors and passengers evaporated while awaiting an insolvency resolution. And today, the Supreme Court ordered the airline's liquidation, marking the formal completion of a turbulent journey into the sunset and shattering lean revival hopes.
A district-level investigation has named several individuals, including relatives of India cricketer Mohammed Shami.
Rahul targets the Modi government on Twitter, using the hashtag "BikGayaChowkidar".
Leading stock exchanges BSE and NSE on Friday decided to drop Yes Bank from Futures and Options segment from May 29. The existing Futures and Options contracts across all expiries will expire on May 28.
'I don't know when I will be able to access those funds.'
In today's dynamic economic landscape, commerce and management education is crucial for a global career, says Nayagam PP.
Saurav Ghosh's step-by-step guide will help you understand what bonds are, how they help investors make money, how much money they make and which bonds to invest in.
Ritika Gupta, a study abroad expert and founder of Aaera Consultants, explains how Germany's new visa rules will affect international students and working professionals.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
IL&FS group has discharged debt of Rs 38,082 crore to its creditors as of September 30, 2024, according to the latest status report affidavit filed by the debt-ridden firm before insolvency appellate tribunal NCLAT. "As on September 30, 2024, the total debt discharged to creditors of the Respondent No 1 (IL&FS) Group aggregates to Rs 38,082 crore," the status report said. This includes Rs 20,289 crore from monetisation of assets, Rs 8,140 crore from auto-debits, green entity principal servicing, NFB release and Rs 9,653 crore from interim distribution.
The government on Saturday announced a host of measures such as setting up of a new Fund of Funds Scheme (FFS) with Rs 10,000 crore corpus; and extension of period of incorporation by five years with a view to promote growth of budding entrepreneurs.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The announcement came after the chief minister held a high level meeting with senior government officials on Thursday to discuss the implementation of both schemes, which are part of five poll guarantees of the Congress.
Central Bank of India classified its loans to Go First as non-performing assets (NPAs) in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). The no-frills carrier has been under insolvency proceedings since May 2023 and ceased operating flights on May 3 this year. The public sector lender's exposure, including government-guaranteed emergency credit to the ailing airline, amounts to about Rs 2,000 crore.
Dr Pananjay Tiwari, founder and director of Impel Overseas Education, highlights what international students should keep in mind in order to be safe in a new country and avoid being deported.
According to highly placed sources, the finance ministry is likely to extend ECLGS and other loan guarantee schemes for micro, small and medium enterprises (MSMEs), hospitality and tourism sector, and the health infrastructure beyond March 31, Business Standard has learnt. This is likely to be announced by Finance Minister Nirmala Sitharaman as part of her Budget speech on February 1.
Be wary of co-operative banks which have historically been most vulnerable.
'Right now, silver -- and especially platinum -- are very cheap compared to gold. If I were buying today, I would choose platinum.'
The Securities and Exchange Board of India (Sebi), in a circular dated April 11, 2025, warned investors about rising fraud and manipulation linked to the securities market on social media platforms.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Mauritius-based Hinduja group firm IndusInd International Holdings (IIHL) has informed the administrator of Reliance Capital that it is ready with its equity contribution of Rs 2,750 crore in cash to acquire the bankrupt firm, but it wants certain conditions to be met in accordance with the resolution plan before transferring the amount. IIHL has also filed an application with the Mumbai Bench of the National Company Law Tribunal (NCLT), seeking directions for the administrator and the committee of creditors (CoC) to complete all pending activities to close the transaction and not let the lenders invoke the bank guarantees provided by the firm earlier.
Physics Wallah has filed Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), a precursor to hitting the primary market from where the edtech Unicorn reportedly plans to raise around Rs 4,500 crore through IPO.
The government on Friday approved an electric-vehicle policy, under which duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like US-based Tesla. According to an official statement, the companies setting up manufacturing facilities for e-vehicles will be allowed to import a limited number of cars at lower customs duty. The policy seeks to promote India as a manufacturing destination for EVs and attract investment from reputed global EV manufacturers, it added.
If a bank shuts down, every account holder it has will get back their money for a maximum limit of Rs 5 lakh. It was Rs 1 lakh before.
The World Bank must become Archimedes's lever to help change the world into a more prosperous, inclusive, and sustainable planet in the 21st century. The change in leadership now provides that opportunity, observes Ajay Chhibber.
'The finance minister has done as much as she can when you look into the fiscal constraints she had.'
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
The BCCI top brass deliberated on the two subjects for more than an hour in the emergent meeting of the Apex Council on Monday.
'Regardless of whether you invest Rs 100 or Rs 1 crore per month, risk is inevitable.' 'Positive returns at the end of the year can never be guaranteed.' 'This is a fundamental truth every SIP investor must grasp.'
Partha Pratim Sengupta, who will be taking charge as the MD & CEO of Bandhan Bank in early November, has his task cut out. The Kolkata-based lender, which converted itself from a microfinance institution to a universal bank, is in its 10th year of operation. The bank was able to cut down the share of the micro loan book over these years.
Why has a Reddit user's post -- where the user warns that 'even an IIM tag won't save you' -- created a storm online?
