'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
Court order follows submission of govt lawyers that Serious Fraud Investigation Office was probing a case of misappropriation of fund by Jet Airways and Goyal.
About 300 fintech firms are under investigation by the ED for allegedly partnering 38 non-banking financial companies for predatory lending practices to charge borrowers high interest rates.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
Non-banking finance companies face renewed asset quality and liquidity risks amid a second wave of COVID-19, Fitch Ratings said on Thursday. These challenges are likely to increase if recent restrictions to contain the pandemic are expanded or prolonged, leading to greater economic and operational disruption, it added. The rating agency further said that an increase in the rate of infections and broadening of social distancing restrictions pose downside risks to its 12.8 per cent growth projection for the current fiscal.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
In the January, 2013 Cabinet note on revision of prices of all domestically produced natural gas, the ministry had proposed immediate implementation of the formula suggested by a panel, headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan, for all producers except in cases where the current rate is valid for a certain period.
Buy from an established agent rather than a novice who may not be around when you need his assistance.
The National Green Tribunal on Tuesday sought Art of Living head Sri Sri Ravi Shankar's reply on an application which alleged the spiritual guru had termed its earlier order as "politically motivated".
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
The attorney general told the apex court that the invasion of privacy was very minimal in Aadhaar and it may not even be considered as an invasion.
With a rising proportion of Non-Performing Assets in education loans, banks have approached the government, seeking protection in the form of a credit guarantee fund of at least Rs 2,500 crore.
MUDRA Bank will have a corpus of Rs 20,000 crore.
After the August 10 deadline, South American conglomerate Synergy Group Corp reportedly evinced interest in the airline, forcing the RP to seek lenders' nod to extend the deadline to August 31. The Synergy Group owns a majority in Colombian carrier Avianca Holdings, which has a codeshare partnership with the state-run Air India.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
The Union Cabinet in June decided to price all domestically produced natural gas at an average of the price prevailing at international gas trading hubs and the actual cost of importing liquid gas.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
Oil firms will supply fuel to SpiceJet on 'cash and carry basis'.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
The irony of this scheme to benefit farmers is that it could add to the problems for the government because the mechanism to procure and store crops like pulses, coarse cereals and oilseeds barely exists.
The warning had come after SpiceJet's dues to AAI (including interest at 12 per cent) exceeded Rs 300 crore (Rs 3 billion) this month -- from Rs 230 crore (Rs 2.3 billion) early December last year.
To further strengthen the supervision on non-banking entities (NBFCs), the Reserve Bank on Tuesday issued revised guidelines on a Prompt Corrective Action (PCA) framework for such companies, excluding government-owned ones, effective from October 1, 2022, on the lines of what it had introduced for banks in 2002. The RBI came up with stricter supervisory norms under the PCA framework for banks after their bad loans mounted and balance-sheets bled badly. This involved restricting them from fresh lending, brand opening and, hiring, among others. The RBI said the revised PCA framework is also applicable to all deposit-taking non-banking financial companies (NBFCs), all non-deposit taking NBFCs in the middle, upper and top layers, including investment and credit companies, core investment companies, infrastructure debt funds, infrastructure finance companies and microfinance institutions.
Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) next week to review performance of the lenders and progress made by them to support the economy battered by the COVID-19 pandemic. Banks would be urged to sanction loans for productive sectors to accelerate revival of the economy, sources said. According to sources, the two-day meeting would commence on November 17 and undertake a comprehensive review of various segments, progress in government schemes including Aatmanirbhar Bharat Abhiyan.
Sahara also sought permission to sell its properties in Bangalore.
To minimise hardship for legal heirs, home loan borrowers must purchase additional insurance cover while taking a home loan.
Pulbic banks have no reason to cheer Budget announcement.
'Jack Sparrow's rum-swigging, goofball pirate has gone from subversive to stereotype.' 'The bar's slipped so low that even "decent" seems like a significant upgrade from status quo.' Sukanya Verma doesn't know about you, but she is seasick of it all.
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
'We have 750 districts across the country, and each district can create one cluster like Tirupur on any product of their choice.' 'This way, we can even have $3 trillion in exports.'
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
To help the country emerge as a true welfare State, political parties must put the country's interests first before strategising to win elections and short-term goals, argues Ramesh Menon.
For the first time in our economic history a government has thought about more than 50 per cent of our economic activity instead of the five per cent represented by the Sensex companies, observes IIM-B professor R Vaidyanathan.
Modi was on his first visit to Ayodhya after he laid the foundation stone of a Ram temple at the once disputed Ram Janmabhoomi site on August 5, 2020.
A three-pronged investigation will take place into alleged state aid for several La Liga clubs, including Real Madrid and Barcelona, the European Commission said on Wednesday.
Property sold via HDFC Realty for Rs 58 cr; 60 properties on sale via e-auction
Initial public offering (IPO)-bound Life Insurance Corporation (LIC) of India's assets under management (AUM) increased to Rs 38 trillion as of September 2021, compared with Rs 37 trillion as of March 2021, said sources in the know. Its AUM is almost 3x the AUM of all the private life insurers in the country and over 15x more than the AUM of the second largest life insurer, SBI Life, as of September 2021. SBI Life's AUM was approximately Rs 2.4 trillion as of September 2021, said sources.
Reliance Infrastructure on Thursday announced the cancellation of Rs 12,000 crore (Rs 120 billion) Mumbai's Metro Line 2 project citing non-fulfillment of certain obligations by Maharashtra government.
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