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.
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.
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.
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.
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.
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.
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.
England's Jordan Pickford is already guaranteed to pick up the Euro 2020 "Golden Glove" award, as he has five clean sheets to his name.
Property sold via HDFC Realty for Rs 58 cr; 60 properties on sale via e-auction
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
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.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
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.
'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.
To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
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.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
India's rural employment guarantee programme MNREGA has been ranked as the world's largest public works programme, providing social security net to almost 15 per cent of the country's population, the World Bank has said.
Ministry sources say investors are looking at pumping in around Rs 1,100 crore
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
'The money is readily available to the depositors.'
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
The Supreme Court will on Tuesday deliver its verdict on Sahara Chief Subrata Roy's petition challenging its decision to send him to jail for not complying with its order to deposit around Rs. 20,000 crore (Rs 200 billion) of investors money with SEBI.
The European Commission will begin disciplinary action against seven Spanish clubs including Real Madrid and Barcelona over possible illegal state aid, Spanish foreign minister Jose Manuel Garcia Margallo said on Monday.
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.
DoT had raised the demand on December 22 and asked RCom to pay within a month.
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.
"I think bankers have expressed some concern that they should not be held liable for actions that are taken in the full spirit of what is needed," Raghuram Rajan said.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
Jiomart B2B is the latest among organised supply-chain companies to bite the bullet, shutting down its warehouses, and asking its employees to leave. Why are companies finding it difficult to sustain the supply-chain business? Experts point out that gross margins in supplying fast-moving consumer goods (FMCGs) are very low.
'Had there been no war, maybe, we would come out with a 7.5 per cent stake sale.' 'At this point in time, a 3.5 per cent stake sale looked good.'
Wants details of Vijay Mallya transactions over 4 years
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.
India is looking to develop alternative export markets for tea such as Iraq, Saudi Arabia, the US, Japan and Tunisia in view of the Russian invasion of Ukraine, people aware of the matter said. Meetings are being held with buyers in some of these countries in virtual mode, with the help of diplomatic missions located there. Similar meetings for the remaining countries have also been planned.
Gross NPAs of public and private sector banks stood at Rs 2.41 lakh crore and 26,571 crore respectively.
If the reforms are implemented, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.
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.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
