The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
rediffGURU Vivek Lala answers your income tax and personal finance queries.
IndusInd Bank had moved NCLT claiming default of Rs 83.08 crore against the media & entertainment firm. The petition, to initiate insolvency proceedings against ZEEL, has been filed under section 7 of the Insolvency & Bankruptcy Code (IBC).
'It is the first-time voters and the agnostics who are often influenced by political advertising.' 'These swing voters tend to make a huge difference in the outcome of any election.'
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was on Monday awarded to Ben S Bernanke, Douglas W Diamond, and Philip H Dybvig for their research work on bank regulation and how financial crises should be managed.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
This will be an upfront payment for the vaccine doses that these two companies will supply to the government.
Guaranteeing a loan requires careful analysis before making the decision; you should not guarantee a loan just because a friend or acquaintance has asked you to do so, warns Rajiv Raj
'There will be 200 ITIs developed as hubs, while 800 will be developed as spoke, connected with five National Skill Training Institutes.'
The ministry also decided to dispense with the requirement of the Integrity Pact Bank Guarantee to reduce the financial burden on the Indian defence industry, a move aimed at promoting domestic manufacturing.
Against varying claims its SGF ranged from Rs 839 crore (Rs 8.39 billion) to Rs 62 crore (Rs 620 million), between July 29 and August 14, the bourse had Rs 84.66 lakh (Rs 8.46 million) in the actual SGF.
Chief Minister K Chandrasekhar Rao-led Bharat Rashtra Samiti has pinned hopes on the development work his government undertook during the past ten years, while opposition Congress and BJP bank on anti-incumbency and the alleged failures of the incumbent.
P V Subramanyam clears some misconceptions about debt funds.
'For me, every poor is VIP, every mother, daughter, sister is VIP, every farmer is VIP, every youth is VIP'
Sahara accuses Mirach Capital of cheating, forging bank letter.
Union ministers Arjun Munda, Piyush Goyal and Nityanand Rai and farmer leaders from Punjab will meet on Sunday for the fourth round of talks.
He said the then prime minister Manmohan Singh had given a speech in which he had said Muslims have the first right to the country's resources.
Max Life Insurance plans to hire 30,000 agents and open 50 to 100 new offices in the financial year 2024-25 (FY25) to drive premium growth, said Prashant Tripathy, managing director and chief executive officer of the company. The private insurer's total agent count will rise to 1,30,000 in FY25. It added 47,957 agents in FY24, 54 per cent more than the year before.
There was such a rush that more counters were opened outside the GPO building, under the open sky, he added.
The Delhi high court has directed SpiceJet to deposit "forthwith" Rs 75 crore that has to be paid to media baron Kalanidhi Maran and his Kal Airways towards interest on an arbitral award of Rs 578 crore. The high court said, admittedly, there is no modification of the February 13, 2023 order passed by the Supreme Court in the case, and hence it needs to be followed. "Since the judgment debtor (SpiceJet) had failed to pay an amount of Rs 75 crores to decree holder (Maran and Kal Airways), hence in terms of para 15 (ii) of the order dated February 13, 2023 of the Supreme Court, there is no other alternative except to call upon the judgment debtors to deposit the entire outstanding amount qua interest forthwith, thus is so directed.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
'Corporates who donated to political parties were guaranteed by the electoral bond scheme that their names and to who they were donating funds will be not disclosed.'
Sahara Counsel told the court that negotiations were underway for selling Sahara Group's offshore properties for raising sufficient fund for Subrata Roy's bail.
'Any finality in such matters requires political views. We will review it closer to the full Budget.'
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
The contribution from asset management companies (AMCs) has surpassed the Rs 3,000 crore target for the creation of a Rs 33,000 crore backstop facility for debt mutual funds (MFs). The initial corpus for the Corporate Debt Market Development Fund (CDMDF) is nearly Rs 3,100 crore, according to multiple government officials and AMC executives. "The fund is operational now. "The required corpus has been raised by AMCs and the remaining part (Rs 30,000 crore) is in the form of a guarantee from the government which will be activated only in case of a credit event," explained D P Singh, joint CEO and deputy MD, SBI MF.
Commenting that running a country is not a play for those born with a golden spoon, Modi said, "They have gone from Amethi and will go even from Rae Bareli."
A land-owning class, the Jats are a powerful community and account for 28 per cent of Haryana's population. The time, they believe, has now come for them to take revenge.
Adani Green Energy (AGEL) on Tuesday announced it has secured a funding of $1.36 billion from a consortium of international banks as part of its construction financing framework. The $1.36-billion senior debt facility will enhance the company's funding pool to $3 billion since initial project financing in March 2021, AGEL said in a statement. According to the statement, AGEL, India's largest and world's leading renewable energy player, announced a follow-on funding of $1.36 billion to further boost its construction financing framework to $3 billion backed by a consortium of renowned international banks.
Former Spanish tennis star Arantxa Sanchez Vicario has been given a suspended jail term for fraud, a court in Barcelona said on Wednesday.
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special vostro account for rupee trade. Sberbank, JSC VTB - the largest and second largest bank of Russia - are the first foreign lenders to receive this approval after the central bank announced the norms on INR trade in July. Both lenders have branch presence in India. Earlier this month, state-run UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia. While the Kolkata-based lender is in the process of opening the account, the bank has received requests from various foreign lenders for opening such an account.
The Chinese financial giant, which had invested in One 97 Communications since 2015, has seen a sharp decline of 45 per cent, or Rs 2,125 crore, in its stake value since the Reserve Bank of India (RBI) took action against Paytm Payments Bank on January 31. One 97 shares closed at Rs 422.6 a share on Monday. The Chinese company, however, had sold its stake worth Rs 8,293 crore in three tranches over one year.
'The moment a new election comes, new guarantees are announced.' 'The BJP is adept at diverting people's attention.'
Gas price hike seems to be a distant dream for Reliance Industries and its partners--Niko Resources and BP.
The Congress leader also said that the BJP wants to change the Constitution, and reduce and weaken the rights given to the people through the statute book.
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