Faulting previous governments for not taking adequate measures to economically empower women in the country, Prime Minister Narendra Modi on Thursday said his government was constantly creating an environment in which women self-help groups can connect villages with prosperity as he released Rs 1,625 crore as capitalisation support fund to over four lakh such groups. In a virtual interaction with the women self-help groups (SHGs) under the "Aatmanirbhar Narishakti se Samvad" (dialogue with self-reliant women) initiative, Modi said in a changing India, opportunities are increasing for women to move forward. The movement of woman SHGs has intensified in the last 6-7 years with over 70 lakh of them working across the country, a figure over three times more than earlier, he said, adding over eight crore women are connected with these groups.
The verdict, upholding Centre's November 15, 2019, notification bringing personal guarantors of corporate debtors under the net of the IBC, assumes significance in view of the fact that various high-profile industrialists may now face insolvency proceedings along with their debt-ridden firms under the IBC.
The NSE International Exchange (NSE IFSC) on Monday said trading in select US stocks will soon be facilitated through its platform. The Exchange will soon announce the operational details and will launch the product at the earliest possible time, NSE IFSC said in a statement. It further said depositories, banks and brokers have already started working with NSE IFSC to enable these investment products for Indian investors.
Choksi is wanted in India by the CBI and the Enforcement Directorate, which are probing the PNB fraud, the biggest banking scam in the country. India continues to pursue Choksi's return with the government of Antigua through diplomatic and legal channels.
The bank wanted to run a background check on some Indian promoters.
The Maharashtra government will amend its agriculture law to protect farmers and Agriculture Produce Marketing Committees (APMCs) as the three central farm laws are not in the interest of agriculturists, state Revenue Minister Balasaheb Thorat said.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
CBI sources said the shell companies were allegedly being used by the suspects to divert loan funds meant for specified purposes, creating fake invoices, and 'round-tripping' of funds to evade taxes and generate black money.
The Supreme Court has dismissed the appeal of ACC Cement, ruling that if a product is manufactured by one firm and sold by another with the latter's brand name, that sale would attract sales tax, not the first transaction.
Mann stares at a twin-headed monster: Resuscitating the state's debilitated public-sector enterprises and controlling the spiralling debt to keep the state machinery and his poll-fuelled populist schemes running.
'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
Taliban spokesperson Zabiullah Mujahid said that women should not go to work for their own safety.
Deccan Chronicle had taken a Rs 170-crore loan from Future Capital and Rs 100-crore loan from Tata Capital.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
'Nobody is talking about the inequality that is going to come.'
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
European soccer's governing body UEFA on Monday said clubs and players joining the proposed breakaway Super League could be banned from all of its competitions and the World Cup as it condemned a "disgraceful and self-serving proposal".
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
Embattled Anglo-Italian helicopter maker AgustaWestland may face a probe in the UK over its 480 million pounds scandal-hit deal with India for the supply of 12 VVIP choppers.
The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP. While the net tax revenue rose from Rs 5,75,697 crore in October 2020 to Rs 10,53,135 crore till October 2021, a growth of 82.93 per cent annualized, total expenditure rose only by 9.95 per cent, led by infra spending to Rs 18,26,725 crore from Rs 16,61,454 crore during the same period, the RBI said in the financial stability report.
A round-up of Wednesday's action in the UEFA Champions League.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
It's been a decade of ordeals for the residents of the plush Mayfield Gardens in Gurgaon who are living in their crore plus apartments without basic amenities of water, power and sewage. A Ganesh Nadar reports.
'The prospects for both India and the global economy is that we are headed towards a very difficult time.' 'I see very uncertain at least 8-10 months for both India and the rest of the world.'
No government can 'ignore inclusiveness in a democracy', Montek Singh Ahluwalia tells Anjuli Bhargava.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
India on Monday said it has put in place a simplified procedure to expedite and facilitate transit clearances of relief supplies to Nepal which is still reeling under the impact of the massive devastation caused by two earthquakes.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
The cash-rich Indian Premier League will have a new title sponsor for its next edition as PepsiCo "have shown a willingness to move out of the deal" with the Board of Control for Cricket in India.
Lawyers representing govt point out that telcos, because of the large money they can save if they get a favourable judgement, prefer to fight till all legal options are exhausted
Hospitality firm OYO is looking to raise $600 million (over Rs 4,380 crore) in debt from the US institutional investors to service its existing loans, sources in know of the matter said on Thursday. The company is raising $600 million in a term loan B (TLB) structure, the sources said. The company is taking the TLB to service its existing loans which are on higher interest rates, they added.
The investigation under FEMA was taken up by ED based on a reference received from RBI to investigate advance remittances received by certain entities for the purchase of the shares of Tamil Nadu Mercantile Bank through escrow mechanism maintained with Standard Chartered Bank, Mumbai.
Kumar Mangalam Birla will be the non-executive chairman and Balesh Sharma the new CEO of the merged entity, which will remain listed.
According to him, the rural economy will play a critical role in the revival process.
'There will be positive growth, but if you ask me whether we are going to have the original growth rate of 8%, the answer will be, no.'
The Cabinet approved giving Bharti Airtel, Vodafone Idea Ltd and Reliance Jio an option to avail of a two-year moratorium on payments they were supposed to make in yearly installments for the spectrum bought in auctions.
BCCI sources said that a similar decision in the case of another IPL team Kochi Tuskers Kerala a few years ago, at the insistence of former president Shashank Manohar, had backfired with an arbitration award favouring a payout of Rs 550 crore for the disbanded Kerala franchise on grounds of wrongful termination.
While the government had in June approved a new formula for pricing of all domestically produced natural gas, the Cabinet yesterday allowed the same principles to also be applied to Reliance Industries' currently producing fields in KG-D6 block subject to certain conditions.
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