SpiceJet is having tough times due to a huge financial crunch.
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.
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.
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.
CEA offers three compelling arguments in his case for privatisation of government-owned banks.
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.
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 multinational oil firm, however, is required to furnish a Rs 500 crore bank guarantee to the government.
Sahara was to provide a bank guarantee from HSBC.
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.
Upholding an order of Maharashtra Electricity Regulatory Authority, the Bombay high court on Thursday asked Tata Power Company to pay Rs 289 cr
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.
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.
Mobile banking will soon reach Indian villagers as state govts tie up with banks, telecom companies to provide this facility to them.
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.
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.
Entrepreneurs to get support from the government
India captain is hopeful that fans will witness arch-rivals play against each other in the final of this tournament.
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.
Banks and housing finance firms may seek legal mortgage as well as completion guarantee clause.
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.
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.
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.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
Kingfisher Airlines has objected to being identified as a 'wilful defaulter' by state-run UCO Bank.
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 NFC-phone-cum-scanner is simpler since fingerprints are used to verify identity. For a typical village, the cost would drop from Rs 1.5-1.7 lakh (Rs 1,50,000-Rs 1,70,000) to Rs 20,000. What of the transaction costs? Right now, the government gives banks 2 per cent of the amounts being transferred as commission, and the bank shares this with its business correspondents.
International claims of Indian banks have risen by 41.15 per cent to Rs 1,49,167 crore (Rs 1491.67 billion) at the end of June 2007 on account of higher exposure to guarantees, derivatives and credit commitments. Exposure of Indian banks to derivatives rose 79 per cent to Rs 13,999 crore (Rs 139.99 billion) at the end of June 2007, as against Rs 7,818 crore (Rs 78.18 billion) in the corresponding period in June 2006, data released by Reserve Bank of India said.
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.
Don't recharge your phone at public outlets -- carry a power bank instead. Avoid clicking on links sent by 'friends'. If you get into an online sexual encounter with a stranger and get blackmailed, refuse to pay up.
The banks are not ready to open accounts of the beneficiaries through the IT-enabled financial inclusion programme, which is running on a pilot basis in various districts of the state. "The panchayat staff do not co-operate with our business correspondents. They do not come forward to endorse the identity of the beneficiaries. How can we open accounts," asked an official from State Bank of Indore.
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.
Virat Kohli will be in focus as Royal Challengers Bangalore look to strengthen their claim for an IPL play-offs berth in their must-win match against laggards Sunrisers Hyderabad.
A petition seeking a review of the October 17 verdict refusing to accord legal recognition to same-sex marriages was mentioned before the Supreme Court on Thursday for an open court hearing.
