Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
Prime Minister Narendra Modi on Thursday slammed the opposition alliance INDIA as a collection of arrogant dynasties who will take India back by two centuries as he exuded confidence that people will bless the "garib ka beta" with a record-breaking mandate in the 2024 Lok Sabha polls.
The loss to policyholders due to massive mis-selling of insurance policies by trusted private sector and public sector banks will be well in excess of Rs 2 trillion, warns Harsh Roongta.
Haven't they heard about the 'Tale of Two Brothers'? asks Suveen Sinha.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
The rift between the Congress Party and Nationalist Congress Party seems to have found a new battleground Maharashtra State Cooperative (MSC) Bank.
Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses. Out of the Rs 3.21 trillion worth loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) in the last financial year, Rs 3.12 trillion were disbursed to entrepreneurs, according to official data.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The court, however, reserved its order on a fresh plea of Roy seeking modification of an earlier order by which he was asked to pay Rs 5,000 in cash besides a bank guarantee of an equivalent amount.
The government on Wednesday notified its decision to permit 100 per cent foreign direct investment (FDI) under automatic route in the telecom services sector. In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020. Accordingly, cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.
Releasing its recommendations for BWA spectrum allocation on Friday, Trai has suggested that the auction should be done in blocks of 5 MHz each and any bidder can bid for one or two or three blocks. A company can bid up to a maximum to 15 Mhz in block of 5 Mhz. The bidder has to specify before the auction, the number of blocks he desires to bid for.
Gas pricing guidelines stipulate that a new gas price will apply to all producers except RIL.
Home Minister Amit Shah on Wednesday appealed to the opposition for the unanimous passage of the women's reservation bill and said shortcomings, if any, can be rectified at a later date.
Inside story of how Wall Street and Washington fought to save the financial system and themselves.
Citadel proves unworthy of Priyanka's splendour, Madden's intensity or veteran talents like Lesley Manville and Stanley Tucci squandered in banal parts, complains Sukanya Verma.
The CAG also observed that the Indian Navy's auxiliary vessel strength was not increasing incommensurate with the rise in its combat fleet.
Bernie Ecclestone has given Donington Park until the end of September to secure the funding needed to host next year's British Formula One Grand Prix or risk losing it. Donington is due to replace Silverstone as the venue for the British Grand Prix in 2010 and circuit operators have promised to invest 100 million pounds ($165.6 million) on revamping the circuit over a five-year period.
Beginning in 1990, Japan suffered a collapse in real estate and stock market prices that pushed major banks into insolvency
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
rediffGURU Hemant Bokil answers your personal finance queries
As per RBI guidelines, a wilful defaulter tag would be given if it is found that a loan taken is diverted for some other use rather than for which it was availed.
If you don't have a specific goal, but want intermittent liquidity, then ladder your FDs, that is, invest in FDs of varying maturities, such as one, two, three, five or even 10 years. Laddering ensures FDs mature at regular intervals.
The decision comes following the appeal by the Delta Airlines, Inc and the Airline Pilots Association of a lower court decision in July 2012 that determined that the Exim Bank improperly approved financing for purchases of certain Boeing aircraft by Air India.
Anil Ambani Group company has offered a bank guarantee and indemnity bond for the aircraft, but the Customs officials have that said that it is not possible without the seizure notice.
Siddaramaiah, who hails from the shepherd Kuruba caste, holds the record for presenting the highest number of Budgets in Karnataka -- 13 so far. He has often spoken about how he was mocked in 1994 before he presented his first Budget. 'Some people asked, "Can he count sheep?",' Siddaramaiah told a regional news channel.
"All requirements including providing bank guarantee have been met by NTPC and gas flow can start as early as tomorrow," an official said.
Firestar Diamond, which on its website states that its operations span the US, Europe, the Middle East, the Far East and India, blamed liquidity and supply chain challenges.
Because of lower ratings, these companies would have to pay higher rates if they raised money directly.
Women politicians bring to politics and policy a sensitivity that most of their male counterparts, at least until a generation back, lacked.
Enjoying the backing of the regulator, Gill has identified the core problems, ring-fenced the banks from "influencers" and is in the process of building a new team. Now, he needs to play a Vikram Pandit for YES Bank, says Tamal Bandyopadhyay.
Stocks to watch: BHEL, L&T, IRB Infra and Suzlon
US Exim Bank has agreed to extend guarantee for up to 85 per cent of the $7.2 billion (Rs 33,500 crore) loan that Air India requires for replenishing its fleet with 68 new aircraft from Boeing Co.
The Treasury has already pledged the first-half of the mega $700-billion bailout package. On Thursday, the Senate passed the request by President George Bush to release the second-half of the rescue plan. The request was made by Bush on behalf of President-elect Barack Obama.
With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
The awarding of in-principle licences for 10 small finance banks is likely to be a game changer in a way which may not be adequately realised right now.
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