The Securities and Exchange Board of India's (Sebi's) proposal to re-introduce "hard underwriting" is seen as step to boost India's moribund initial public offering (IPO) markets. The regulator has proposed that in case an IPO fails to garner full subscription, the investment banker or a third-party can buy the unsubscribed shares. This practice was common during fixed-price issues prior to 1999. However, under the new book building regime, underwriting is allowed only to the extent of shortfall due to technical rejection of bids - this is referred to as "soft underwriting" and is rarely invoked.
Women politicians bring to politics and policy a sensitivity that most of their male counterparts, at least until a generation back, lacked.
CEA offers three compelling arguments in his case for privatisation of government-owned banks.
The suicide note also stated about "foul language" used by people associated with a cooperative society and threat by lenders (finance firms), a police officer said on Monday.
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.
Officials asked what the point was in going through banks when the government has to give guarantees.
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.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
Setting the tone for his 2024 re-election bid, Prime Minister Narendra Modi on Tuesday called for waging a war against the 'three evils' of corruption, appeasement and dynastic politics, stepped up the OBC outreach with a mega scheme and exuded confidence he would return to address the nation from the Red Fort next year.
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.
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
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 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.
Since the first Aadhaar number was issued in September 2010, more than 1.33 billion Aadhaar cards have been generated till June 2022. With the Aadhaar enrolment of adult Indians nearing 100 per cent, the main objective of the Unique Identity Authority of India (UIDAI), which was to give Unique Identification numbers (UID) to all residents of India, is almost achieved, said a senior government official. "Enrolment will now be much more update-based, because people keep updating their mobile numbers and addresses.
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.
The provisions in the FRDI bill do not modify current protections for depositors adversely at all, the ministry held, maintaining that these rather provide additional protections in a more transparent manner.
Sahara was to provide a bank guarantee from HSBC.
Entrepreneurs to get support from the government
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
The multinational oil firm, however, is required to furnish a Rs 500 crore bank guarantee to the government.
Mobile banking will soon reach Indian villagers as state govts tie up with banks, telecom companies to provide this facility to them.
Upholding an order of Maharashtra Electricity Regulatory Authority, the Bombay high court on Thursday asked Tata Power Company to pay Rs 289 cr
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
Banks and housing finance firms may seek legal mortgage as well as completion guarantee clause.
Kingfisher Airlines has objected to being identified as a 'wilful defaulter' by state-run UCO Bank.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
While conditional access system continues to remain in disarray, the first direct-to-home television service in the country is likely to take off by October 1 with a Zee promoted company signing its license agreement with the government on Friday.
The Reserve Bank's rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed. Based on the recommendations of the Monetary Policy Committee (MPC), the RBI had effected 50 basis points increase in repo rate each in June and August after raising the short-term lending rate by 40 basis points in an off-cycle decision in May. The MPC, headed by RBI Governor Shaktikanta Das, is scheduled to meet during September 28-30.
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