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.
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.
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.
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.
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.
Inside story of how Wall Street and Washington fought to save the financial system and themselves.
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
'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.'
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.
India's outward foreign direct investment (OFDI) nearly halved to $3.39 billion in April on an annual basis, as per data released by the RBI on Monday. The OFDI stood at $6.71 billion in April 2021. On sequential basis too, the outward investment from India in April was lower compared to $3.44 billion in March 2022.
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.
"All requirements including providing bank guarantee have been met by NTPC and gas flow can start as early as tomorrow," an official said.
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.
Stocks to watch: BHEL, L&T, IRB Infra and Suzlon
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Because of lower ratings, these companies would have to pay higher rates if they raised money directly.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
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.
Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
'The global situation is not very good.'
The party also promised reservation to minorities on basis of their population after the caste census.
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.
Telecom regulator TRAI on Tuesday released a detailed consultation paper to discuss threadbare the modalities for auction of spectrum across multiple bands, including pricing, quantum and other conditions -- preparing the groundwork for 5G auctions slated for next year. Trai's comprehensive consultation paper runs into 207 pages and throws up 74 questions for industry-wide discussion, touching on crucial aspects like valuation and reserve price of spectrum, including 5G, quantum of spectrum, block size, eligibility conditions for participation in auction, roll-out obligations, spectrum cap, and surrender of spectrum. Norms will also be worked out for new frequencies such as 526-698 MHz and millimetre band, that is 24.25 - 28.5 GHz, in addition to bands such as 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300-3670 MHz.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
Maytas Infra will now have to submit a Rs 240 crore bank guarantee and will get a 60 day breather by paying a penalty. "The global recession and the consequent credit squeeze in national and international capital markets has created a force majeure situation. Besides, the ongoing PIL (filed by an NGO) is having an extremely deleterious effect on our ability to achieve the financial closure," said the company.
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
Reserve Bank Governor Shaktikanta Das will hold a meeting with CEOs of public sector banks on Wednesday to discuss issues concerning slow deposit growth and sustainability of high credit demand. As per the Reserve Bank of India (RBI) data, deposits rose by 9.6 per cent as compared to 10.2 per cent on a year-on-year basis, while credit offtake witnessed a jump of 17.9 per cent as against 6.5 per cent a year ago. According to an agenda circulated for the meeting, sources said, sustainability, including pricing and slow growth of deposits, would be discussed.
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.
The Reserve Bank will launch the first pilot for retail digital rupee in Mumbai, New Delhi, Bengaluru and Bhubaneswar on December 1, and later expand it to nine more cities in the initial phase. This follows a month after the RBI had started a pilot in the digital rupee - wholesale segment on November 1. The Reserve Bank announces the launch of the first pilot for retail digital rupee (e?-R) on December 1, 2022, the central bank said in a statement on Tuesday.
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.
The Reserve Bank of India on Saturday asked banks to hike margins from 40 to 50 per cent with immediate effect on advances against shares, financing of initial public offerings and guarantees to control their exposure to capital market.
As per some media reports, Hockey India has informed the International Hockey Federation (FIH) that there will be no HIL in 2018 because of financial concerns related to some franchises.
With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity.
The Department of Telecommunications has suggested forfeiture of the performance bank guarantee given by Hutchison-Essar and imposed a penalty of Rs 50 crore
Seeks clarification on a few issues such as enhancement of entry fee and performance bank guarantee from telecom regulator
