The multinational oil firm, however, is required to furnish a Rs 500 crore bank guarantee to the government.
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.
Upholding an order of Maharashtra Electricity Regulatory Authority, the Bombay high court on Thursday asked Tata Power Company to pay Rs 289 cr
Mobile banking will soon reach Indian villagers as state govts tie up with banks, telecom companies to provide this facility to them.
Entrepreneurs to get support from the government
The improving outlook for the power sector has caught the interest of dividend yield funds. In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector. Some have even introduced new stocks to their portfolios.
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.
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.
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.
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.
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
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.
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.
rediffGURU Ulhas Joshi answers your mutual fund queries.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
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.
The Reserve Bank of India (RBI) on Wednesday allowed payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems in the first phase of its plan bring non-banks in the same platform. "Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
The review plea by one of the petitioners Udit Sood has been filed with the apex court registry.
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.
The CBI has shared its findings with the Enforcement Directorate.
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
According to one of the Kochi team co-owners, Modi had driven them to 'madness'.
The ministry further told banks that "it would be prudent to take steps against guarantors immediately when no sign of revival is visible".
'The entire explanation of the episode is difficult to digest.'
Rajasthan is all set to vote on Saturday to elect members of a new assembly with the Bharatiya Janata Party aiming to unseat the ruling Congress, which is fighting hard to change the trend of alternate governments in the state.
The Supreme Court on Tuesday said it would consider a joint request for mediation of low-cost airline SpiceJet and media baron Kalanithi Maran and his Kal Airways for amicably settling all pending disputes between them including the row over the share-transfer issue. A bench comprising Chief Justice N V Ramana and Justices J K Maheshwari and Hima Kohli was apprised by senior advocate Mukul Rohatgi, appearing for SpiceJet, that there were three pending issues between the low-cost airline and Maran and out of these, one has been settled on July 29. Initially, Rohatgi sought four to six week time for settling all the issues between the parties.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
If you don't have a specific goal, but want intermittent liquidity, then ladder your FDs, that is, invest in FDs of varying maturities, such as one, two, three, five or even 10 years. Laddering ensures FDs mature at regular intervals.
Modi wants the BJP to gets an additional 10% of the vote share from what it won in 2019. Plans are afoot to get new faces to replace MPs with poor chances of winning. Sources say more than 100 MPs are like to be axed, notes Modi biographer Ramesh Menon.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
