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
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 CAG also observed that the Indian Navy's auxiliary vessel strength was not increasing incommensurate with the rise in its combat fleet.
Idea Cellular will have to furnish an undertaking that it will entertain all the liabilities whenever a final decision is taken by the courts
Senior government officials said the company would be allowed a harmonious exit.
The US Export-Import Bank said on Tuesday that it will provide $75 million in loan guarantees for exports of US technology, equipment and services to build Indian Oil Corp's Rs 5104 crore (Rs 51.04 billion) integrated petrochemical complex at Panipat
With the Indian Premier League (IPL) story getting murkier, investigative agencies have cast their net wide to include banks. The idea is to dig out information about their financial exposure to the 10 IPL franchisees.
Idea may have to shell out Rs 4,500 crore in cash
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
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.
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.
The sale is to generate the bail money for the release of Sahara Group chief Subrata Roy.
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.
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.
Weighed down by anti-incumbency, the BJP heavily banked on Prime Minister Narendra Modi's personal appeal to enable it to sail through in the assembly elections but it was not to be.
Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises, is likely to seek a fresh forensic audit of the company after market regulator Sebi levelled fund diversion charges against Zee promoters, top lawyers said. The Sebi also barred Zee founder Subhash Chandra and its Chief Executive Officer (CEO) Puneet Goenka from holding any position as director. "As the Sebi has made fund diversion charges, which may change the nature of audited reports already filed, the acquirer (Sony) can seek a fresh forensic audit," said H P Ranina, a corporate lawyer.
Officials asked what the point was in going through banks when the government has to give guarantees.
India captain is hopeful that fans will witness arch-rivals play against each other in the final of this tournament.
Congress sitting MLA Saleh Mohammad, is hoping to buck the trend of anti-incumbency in the seat, and believes people will vote for his development work and not along religious lines.
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
SpiceJet is having tough times due to a huge financial crunch.
The Bombay high court on Friday ordered the release of Rs 1,500 crore (Rs 15 billion) deposited by Jet Airways in escrow account for acquiring Air Sahara.
CEA offers three compelling arguments in his case for privatisation of government-owned banks.
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
The government has said it will examine proposals for the simplification of procedures for export oriented units and special economic zones in a time-bound manner.
Jean Dreze, who is also member of the Central Employment Guarantee Council, Ritika Khera and Anirban Kar - all from the Delhi School of Economics -- have pointed out that though bank payment of wages is seen as a magic solution to delayed payment and non-payment of wages under the Rs 25,000-crore (Rs 250-billion) scheme, making bank payments mandatory is a step taken without necessary precautions.
The joint statement from Friends of the Earth, Pacific Environment, Oil Change International and Groundwork on Tuesday precedes the Exim Bank Board meeting, scheduled on Wednesday where it would formally reverse its' last month decision to reject the financing of Reliance's Sasan power project on environmental grounds.
RBI proposed that at least half of the compensation of a CEO should be variable. It also said that stock options should be part of the variable pay, against the extant practice of keeping it beyond and above the scope of the official compensation package.
Sahara was to provide a bank guarantee from HSBC.
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.
If military power is all it would take to finish the menace of an awful terrorist organisation like Hamas, how come five Israeli wars in Gaza since 2003 have failed to do so? asks Shekhar Gupta.
