The disagreement over liability further complicates any early conclusion of the Rafale contract.
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 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.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
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.
'Karnataka's finances are much healthier than the Union government's, which is indebted to nearly twice the extent of the state.'
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.
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).
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.
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.
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.
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.
SpiceJet owes around Rs 240 crore (Rs 2.40 billion) to the Airports Authority of India (AAI) for using its airports in the country.
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
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.
'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.'
'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.'
The Indian Cricket Board has incorporated strict guidelines in their 19-page 'Request For Proposals' (RFP) from interested companies.
According to a 2021 Redseer report, India's overseas education market is estimated to more than double to $80 billion by 2024.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
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.
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.
'Clearly, the depositors of cooperative banks need the maximum protection.'
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.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
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.
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
'If through growth and serving the customer we become number one, we will be very happy and very proud.'
Wayanad will continue to support Rahul but not to the same extent as in 2019, when his margin of victory had been enormous. Articulate, to the point and speaking in fluent Malayalam, CPI's Annie Raja, had the people who gathered to see her, listening in rapt attention, notes Shyam G Menon.
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). The division bench of judicial member H V Subba Rao and technical member Madhu Sinha on Wednesday also appointed Sanjeev Kumar Jalan as the resolution professional in the matter. The matter pertains to a default of Rs 89 crore by Zee Group's multisystem operator arm Siti Networks claimed by Indusind Bank, for which ZEEL was a guarantor.
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.
The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First's plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition. Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours. As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
The party also promised reservation to minorities on basis of their population after the caste census.
'The global situation is not very good.'
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.
All the bank notes in the denomination of Rs 20 issued by the RBI in the earlier series will continue to be legal tender, it clarified.
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