The approved proposals included "procurement of night sight (image intensifier), light vehicles GS 4X4, air defence fire control radar (light) and GSAT-7B satellite," it mentioned.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
In a relief to liquor baron Vijay Mallya, the high court in London has deferred hearings on a plea by the SBI-led consortium of Indian banks, seeking the indebted tycoon to be declared bankrupt to enable them recover a loan of around 1.145 billion pounds from him. Justice Michael Briggs of the insolvency division of the high court granted relief to Mallya, ruling that he should be given time till his petitions to the Supreme Court of India and his settlement proposal before the Karnataka high court be determined, allowing him time to repay his debts to the banks in full.
New regime on loans to one party to kick in by Apr 2019.
In a bid to promote competition in resale of bandwidth, the Telecom Regulatory Authority of India in its recommendations submitted to Department of Telecom has favoured not fixing any ceiling on the number of players in the segment.
Both the BJP and the Congress have their share of challenges, with finding winning horses on top of this list.
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.
'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.'
India's first digital rupee pilot project will commence on Tuesday with nine banks, including SBI, HDFC Bank and ICICI Bank, issuing the virtual currency for transactions in government securities. "...the first pilot in the digital rupee - Wholesale segment shall commence on November 1, 2022," the RBI said in a statement on 'Operationalisation of Central Bank Digital Currency-Wholesale (e?-W) Pilot'. It also announced that the first pilot in digital rupee - Retail segment is planned for launch within a month in select locations in closed user groups comprising customers and merchants.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
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 rift between the Congress Party and Nationalist Congress Party seems to have found a new battleground Maharashtra State Cooperative (MSC) Bank.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation.
The major beneficiaries of loan recasting will be sub-Rs 500 crore corporate exposures and retail exposures, which were earlier expected to see the highest increase in NPAs in percentage terms.
'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.'
Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
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.
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
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.
Inside story of how Wall Street and Washington fought to save the financial system and themselves.
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.
'If through growth and serving the customer we become number one, we will be very happy and very proud.'
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
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.
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
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.
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.
"All requirements including providing bank guarantee have been met by NTPC and gas flow can start as early as tomorrow," an official said.
Stocks to watch: BHEL, L&T, IRB Infra and Suzlon
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.
Because of lower ratings, these companies would have to pay higher rates if they raised money directly.
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.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
