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.
The World Bank will give a loan of $1 billion (about Rs 5,000 crore) to power transmission company PGCIL this year for developing infrastructure in the sector.
Wants details of Vijay Mallya transactions over 4 years
Inching closer to resolving the Punjab and Maharashtra Cooperative (PMC) Bank issue, the Reserve Bank on Monday came out with a draft scheme for takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB). The draft scheme of amalgamation envisages takeover of the assets and liabilities of PMC Bank, including deposits, by USFB, thus giving a greater degree of protection for the depositors, the RBI said. In September 2019, the RBI had superseded the board of PMC Bank and placed it under regulatory restrictions, including cap on withdrawals by its customers, after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.
Gross NPAs of public and private sector banks stood at Rs 2.41 lakh crore and 26,571 crore respectively.
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
'Islam is the oldest religion among all religions. India is the best country for Hindi Muslims'
Permissions of 71 TV channels have been cancelled by the information and broadcasting ministry for various reasons after a comprehensive review of the companies operating them, Lok Sabha was informed on Thursday.
Citing media reports, KPSS chief Sanjay K Tickoo claimed that the Hindus living in Kashmir wanted to leave the Valley but the government was not allowing them to do so.
Henry Kravis, co-founder of global private equity firm Kohlberg Kravis Roberts & Co, thinks India should go for a bad bank to deal with bad assets in banks. In an interaction with journalists in Delhi, he says there are plenty of opportunities in India. He was joined by India CEO Sanjay Nayar.
By piling more pressure on governments, central banks risk not accomplishing much and yet provoking a political backlash that could threaten their independence.
Tier-II and tier-III towns have a reason to rejoice.
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
The government on Thursday said state-owned carrier Air-India would raise funds through loan guaranteed by the US Exim Bank to part-finance its purchase of 68 aircraft costing about $7.2 billion.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
Reserve Bank Governor Shaktikanta Das on Thursday said the central bank's asset purchases, aimed at mitigating COVID-19-related liquidity stress in the system, did not dilute its balance sheet or compromise on core principles of central banking. In the wake of the pandemic, the RBI undertook several conventional and unconventional measures. "Unlike many central banks, the RBI's asset purchases did not dilute its balance sheet and hence, did not compromise on core principles of central banking," Das said while addressing an event organised by the Bombay Chamber of Commerce. These purchases were confined to risk-free sovereign (government) bonds including state government securities only, he said.
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
Of the 700-odd Indians having foreign bank accounts, not all can be deemed to be operating these illegally.
A day after terminating the tainted VVIP helicopter deal with AugustaWestland, the defence ministry has set in motion the process of encashing the bank guarantee of nearly Rs 1,700 crore furnished by the Anglo-Italian firm.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
'How many more months and years will we have to wait for truth to win?' 'Will anyone give us back the months and years we have lost waiting for that 'one day'?'
Elections are scheduled in five states of Uttar Pradesh, Uttarakhand, Manipur, Goa and Punjab.
Arora's appointment brings no real transfer of power, says Una Galani.
TMFs invest in a public index, so investors know beforehand which instruments the fund will invest in.
The BRICS Summit tonight decided to establish the new development bank with an initial authorised capital of $100 billion.
Union Road Transport and Highways Minister Nitin Gadkari on Wednesday pitched for formulating a policy for using the Reserve Bank of India's rising foreign exchange reserves for funding road projects, saying the country needs low cost finance for such infrastructure projects. Addressing a virtual event organised by industry body CII, Gadkari further said that the National Highways Authority of India (NHAI) should also have a financial arm like the power ministry's Power Finance Corporation (PFC). "We have a surplus of dollar reserves in the country. I have decided to talk with the RBI Governor, about how we can formulate a policy by which we can use this foreign exchange reserves for development of infrastructure in the country," he said.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
The Sahara Group has sought Supreme Court's permission to sell its shares in the Force India Formula 1 team as part of its effort to raise funds for the release of conglomerate's jailed chief Subrata Roy.
The global recovery is expected to be asynchronous and divergent between advanced and emerging market economies, the IMF said on Tuesday, noting that policymakers should take early action and tighten selected macroprudential policy tools while avoiding a broad tightening of financial conditions. "Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks," the International Monetary Fund (IMF) said in its Global Financial Stability report released ahead of the Spring meeting of the global lender and the World Bank. However, actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities, it said.
These are untied loans, meaning SBI has freedom to use this money to lend. They also do not come with any conditions attached for lending to specific projects or programmes.
The Debt Recovery Tribunal (DRT) on Tuesday directed Diageo Plc not to disburse $40 million of the $75 million sweetheart deal to him.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
The airliners will be withdrawn from Air India, sent to France to fit airborne radars, then handed over to DRDO to be integrated with the complex software that will allow these aircraft to function as 'eye-in-the-sky' controllers of air force battles.
The Bureau of Indian Standards has certified 33 hallmarking centres in the country to act as collection and purity testing centres for the gold monetisation scheme.
PSBs have been requested to reach out to MSMEs to provide bill discounting to them against their dues since they suffer the most from shortage of cash.
India does not have a unified regulatory regime to counter Ponzi, or pyramid, schemes whose operators typically grab new deposits to meet their promise of guaranteed returns to existing savers, point out Manoj Kumar and Mayank Bhardwaj.
Suspended Jharkhand IAS officer Pooja Singhal was paid "commission" by subordinate staff from MGNREGA funds of Khunti district which she and her husband subsequently utilised for acquiring various properties, the Enforcement Directorate (ED) claimed in a statement on Wednesday.
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