Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
Samajwadi Party chief Akhilesh Yadav attacked its INDIA block ally Congress on caste census, reminding them that the party did not conduct a caste census when it was in power.
The poll results show that the BJP has increased its base among the SC, ST communities in the state. However, the party's prominent tribal face and Union minister Faggan Singh Kulaste lost the election.
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Asked about him sticking with the Congress since he got the parliamentary polls ticket from Moradabad in 2009, he said loyalty is very important to him since the beginning.
In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank and the interim resolution professional directing them to file a reply in two weeks. NCLAT said the submissions made by both sides need a detailed hearing.
The interest offered is mostly 0.5 to 1 per cent more than what other banks offer. Moreover, customer service and long-term association spanning generations are also other reasons for the popularity.
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
'Check every SMS you get. Many people ignore them.' 'Remember if there is an activity in your account, your financial institution will send you an SMS, not a WhatsApp message.'
The Congress on Monday alleged that a Chinese national played a 'dubious role' in the Adani Group's activities and asked the government if it was not concerned that the conglomerate may be involving that person in important defence contracts.
SpiceJet owes around Rs 240 crore (Rs 2.40 billion) to the Airports Authority of India (AAI) for using its airports in the country.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
Australian players who were part of the Pune Warriors squad in the Indian Premier League have received only 65 per cent of the total amount due to them by the now defunct franchise.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
The Indian Cricket Board has incorporated strict guidelines in their 19-page 'Request For Proposals' (RFP) from interested companies.
'Karnataka's finances are much healthier than the Union government's, which is indebted to nearly twice the extent of the state.'
Modi said that for nearly one and a half years he has been putting in place details of new schemes to give new pace to the country's development and curb poverty.
The scam-ridden Congress government in Chhattisgarh has become a model of misrule and people have decided to root it out in the upcoming assembly elections, he said.
Various airlines, including the defunct Kingfisher, owed Rs 3,030 crore (Rs 30.30 billion) to the Airports Authority of India (AAI) at the end of December last year.
The loan was offered to Maytas by a consortium of banks to fund one of its infrastructure projects that has an execution period of few years. However, BOI has not given any direct credit to Maytas, a BOI official said. Maytas Infra came under the scanner of regulators and other agencies probing Satyam fiasco after Hyderabad-based IT giant plunged into a crisis on account of gross manipulations committed by its former chairman B Ramalinga Raju.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
'Clearly, the depositors of cooperative banks need the maximum protection.'
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
In big bang reforms, the Union Cabinet on Wednesday approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route. Briefing reporters on the decisions taken by the Cabinet, Telecom Minister Ashwini Vaishnav said nine structural reforms for the telecom sector were approved. The definition of AGR, which had been a major reason for the stress in the sector, has been rationalised by excluding non-telecom revenue of telecom companies.
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
'Try to buy a policy with a lower sum assured or one with a deductible.' 'Those whose spouses work for companies must get themselves enrolled into the employer's group health cover.' 'Some public sector banks also offer group health covers to those who open a savings account with them.'
In a setback to Sahara Group chairman Subrata Roy, the company on Thursday informed the Supreme Court that it will not be able to deposit Rs 10,000 crore (Rs 100 billion) to release Subrata Roy from jail.
According to a 2021 Redseer report, India's overseas education market is estimated to more than double to $80 billion by 2024.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
An Italian court has barred India from encashing bank guarantees worth over Rs 2,360 crore of AgustaWestland as part of the penalties imposed on it after scrapping of the Rs 3,600 crore VVIP chopper deal.
'If through growth and serving the customer we become number one, we will be very happy and very proud.'
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
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