According to police, Javeed allegedly thrashed Samina on Monday when she was celebrating the victory of the BJP in the recently-held assembly elections, counting for which was done on December 3.
Four days ahead of RBI's monetary policy review, SBI Chairman Pratip Chaudhuri says a cut of one percentage point in CRR will allow the bank to lower lending rates 20 basis points.
Karvy group's commodity broking arm, too, is facing a liquidity crisis because of some issues related to NCDEX, said people in the know.
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
Suitors for Punjab and Maharashtra Co-operative Bank (PMC Bank) may have to infuse additional capital of nearly Rs 750 crore so that the payout per depositor is more than the Rs 5 lakh sum assured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). The Reserve Bank of India (RBI) has also slotted its board meeting on March 19 in Mumbai - a fortnight short of the current deadline to find a resolution for the beleaguered bank and the moratorium placed on it comes to an end. Sources close to the PMC Bank transaction said that the central bank wants the suitors "to go the extra mile so that depositors can get more than the Rs 5 lakh insured by the DICGC". This is also to ensure that the new owners of the bank - who are to be issued a small finance bank (SFB) licence - are serious and have deep pockets.
The FIFA recommendations have talked about a unified league from 2019-2020 season starting with the existing 10 ISL teams and two others through sporting merit.
Hyderabad-based Maytas Infra has issued a legal notice to Vedanta Aluminum for "fraudulently and illegally" encashing two bank guarantees worth Rs 64 crore
The finance ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans.
Prime Minister Narendra Modi on Tuesday said the Bharatiya Janata Party has decided it would not adopt the path of appeasement and vote bank politics.
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
S&P Global Ratings on Monday said systemic risk in Indian banks is likely to remain high in the wake of the second wave of COVID-19 and high proportion of weak loans. S&P estimates the weak loans in banks at 11-12 per cent of gross loans.
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
Gandhi said farmers asked him during his Bharat Jodo and Bharat Jodo Nyay yatras about why they were not getting the benefit of loan waivers like billionaire industrialists or MSP (minimum support price) for farm produce.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29 to protest against the government policies affecting workers, farmers, and people.
India's outward Foreign Direct Investment (FDI) nosedived to $11.12 billion in January-June (H1 2023) from $23.57 billion in the same period last year, indicative of the slowdown in the global economy, according to the Reserve Bank of India (RBI) data. The outward FDI expressed as the total financial commitment, has three components, namely equity, loan and guarantees. The sharp contraction in the commitments (outward FDI) was prominent in the April-June 2023 period.
The contract of Indian Premier League (IPL) franchise Sahara Pune Warriors has reportedly been terminated by the Board of Control for Cricket in India (BCCI) for their failure to pay a bank guarantee of Rs. 174 crores.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
Nearly 40 per cent of IITians sitting for placements in 2024 are yet to receive job offers, showing a doubling of the 'unplaced' in the last three years from 19 per cent in 2021-2022 to 38 per cent in 2023-2024.
Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023, on the back of better economic growth and budgetary support from the government, according to a report. In the fiscal ended March 2022, bank advances have likely grown at 9-10 per cent. "Healthy economic growth and budgetary support from the government should lift bank credit growth by 200-300 basis points to 11-12 per cent this fiscal," Crisil Ratings said in the report. The higher credit growth expectation is also supported by the improved resilience of the banking system, it added.
Holding that the electoral bonds scheme was not fool-proof, the Supreme Court said on Thursday that information about funds received by a political party is essential for voters to exercise their freedom to vote effectively.
This is part of the first batch of Supplementary Demands for Grants for 2020-21 moved by Finance Minister Nirmala Sitharaman in the Lok Sabha.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
In a major relief to Tata Tele Services, state-owned BSNL on Wednesday decided not to disconnect interconnection with the private telecom operators and also asked its officials not to encash the bank guarantee to recover dues.
'The banks cannot pass on the hike in premiums to its customers, according to the norms. The premium won't go up substantially in any case and may be hiked to 12-13 paise (per deposit of Rs 100 a year),' Finance Secretary Rajiv Kumar said.
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
The ICICI Prudential Life Insurance Company's net premium income in the third quarter (October - December) of the current financial year (Q3FY24) swelled by 4.9 per cent year-on-year (Y-o-Y) to touch Rs 9,929 crore. Income from investment rose 111.3 per cent Y-o-Y to touch Rs 16,315 crore. The Annual premium equivalent (APE), and new business premium (NBP) increased by 4.8 per cent Y-o-Y. Both declined 7.5 per cent and 5.6 per cent respectively, quarter-on-quarter (Q-o-Q).
The Centre also overruled financial advisers' recommendations for making payments through an escrow account, an important safeguard in the absence of a sovereign or bank guarantee, The Hindu has reported.
The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish the counting process, which began on December 6 following raids against Boudh Distillery Pvt Ltd and others, they said.
The overarching talking point will be the reluctance on the part of private banks to loosen their purse strings and increase lending substantially, even as the central bank believes there is adequate liquidity within the system.
In 2019, actor turned-politician Sumalatha Ambareesh, an independent backed by the BJP, won by defeating then Kumaraswamy's son and joint candidate of the then ruling Congress-JD-S alliance Nikhil by 1,25,876 votes.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by State Bank of India (SBI) have suggested to Department of Telecommunications (DoT). DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by telecom majors, including Vodafone Idea and Bharti Airtel, sources said. The top court has given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
The National Company Law Tribunal (NCLT) on Friday approved the transfer of ownership of bankrupt-Jet Airways to the Jalan Kalrock consortium and gave the winning bidder more time to pay the dues to the creditors. The latest rulings have come on two petitions filed by the consortium. One plea pertained to approval of transfer of ownership and the second one related to extension of time for the payment of dues to the creditors. Earlier, the tribunal had given time till November 16, 2022 for the consortium to make the payments to the creditors of the airline.
Karnataka Chief Minister Siddaramaiah on Monday launched payment of cash in lieu of the additional 5 kg of rice to beneficiaries under the government's 'Anna Bhagya' scheme.
The film will then get a release on December 12.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
Overall Indian companies issued guarantees worth $1.21 billion, extended loans worth $291 million and pumped in equities worth $319 million.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
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