Difficulties in containing the virus, an anaemic policy response, and underlying vulnerabilities, especially across the financial sector, are leading us to expect growth to fall by 5 per cent this fiscal year before rebounding in 2021, S&P said in a report.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
Since March 2020, when the Nifty50 plummeted to 7,511 following the announcement of a nationwide lockdown, the stock market has been on an upward trajectory. Over the next four years, the major market index has delivered a remarkable compounded annual growth rate (CAGR) of over 31.5 per cent. In the past year alone, the Nifty50 has gained by 27 per cent, hitting a succession of record highs.
The Supreme Court on Thursday directed Jalan-Kalrock consortium, the new owners of the cash-strapped Jet Airways, to deposit Rs 150 crore in SBI's escrow account by January 31, saying failure to do so will mean that the consortium is not in compliance with the terms of the resolution plan for reviving the airline. The top court, meanwhile, also refused to allow the separate plea of the Jet Aircraft Maintenance Engineers Welfare Association seeking payment of provident fund and gratuity dues, observing if additional money is awarded, the resolution plan will become "unworkable". The consortium, as per the lawyers for the workmen, has to pay over Rs 200 crore towards dues on account of PF and gratuity.
He said the then prime minister Manmohan Singh had given a speech in which he had said Muslims have the first right to the country's resources.
Coffee Day Global Ltd (CDGL) and its financial creditor IndusInd Bank have reached a settlement, following which NCLAT has set aside an insolvency order against the company which owns and operates coffee chain Cafe Coffee Day. Counsel representing CDGL and IndusInd bank on Wednesday informed the Chennai bench of National Company Law Appellate Tribunal (NCLAT) about the settlement and sought permission to withdraw insolvency litigations. A two-member bench comprising Justice M Venugopal and Shreesha Merla took their submissions on record and set aside the order admitting CDGL to insolvency.
For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates.
'The BJP will not win a single seat in Punjab.'
If Indian companies were people, around 20 per cent of the listed space would be individuals whose salaries don't cover their loan instalments.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
A team of National Human Rights Commission (NHRC) on Friday held on-spot inquiries in Sandeshkhali to ascertain facts about alleged sexual abuse by some Trinamool Congress leaders even as fresh agitation rocked the trouble-torn village, where locals torched the property of accused Trinamool leaders and held demonstrations against the delay in arresting the main accused, Shahjahan Sheikh.
'He said the N D Studios wasn't functioning, shootings were not happening.'
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
European Commission charges follow a two-year investigation.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
'Modi is trying avenues to convince people why they should vote for the BJP.'
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
Both the BJP and the Congress have their share of challenges, with finding winning horses on top of this list.
Lucknow Super Giants will be itching to get back to winning ways against a buoyant Sunrisers Hyderabad with young wrist spinner Ravi Bishnoi holding the key.
The MNS chief started his speech with the name of Nehru, then paused. After a few tense seconds, he resumed: "After Nehru, here is the only politician who will be PM for the third term."
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
SBI's ownership should give confidence to depositors and lenders about the bank's solvency.
Royal Challengers Bengaluru's IPL 2024 campaign is just one-match old, but it has already exposed their biggest chink. It's fragility in bowling, and they need better returns from bowlers against a confident Punjab Kings at an unforgiving M Chinnaswamy Stadium, in Bengaluru, on Monday.
Reserve Bank of India (RBI) deputy governor M Rajeshwar Rao on Wednesday defended the central bank's decision of not allowing industrial houses to float banks, and said more deliberations are needed before RBI changes its stance on this issue agreed back in 2001. An internal working group (IWG) of the RBI had recommended allowing industrial groups into banking, but late last month the RBI said it kept on hold the two recommendations of allowing industrial houses and large non-banks to float banks. However, RBI had accepted 21 of the 33 recommendations of the group that submitted its report a year ago.
The restructuring of banks' loans to troubled airlines, which the Reserve Bank of India (RBI) has allowed, is taking its time.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
Public sector banks, in a frenzy to cash in on the retail credit boom during the three years beginning 2003-04
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
The financial sector has been deeply troubled since 2013. It is now in a full-blown crisis, warns Devangshu Datta.
Lifting of deposit withdrawal moratorium on March 18 could open flood gates and will require a calibrated approach along with active support and signaling from the RBI, government and investor banks.
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
Parliament on Tuesday passed amendments to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI, a move aimed at protecting the interest of depositors.
Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.
'Those who feared that I would have run one hell of a campaign targeting the most powerful people in India snatched away my democratic right from me.' 'I will expose these democracy-killers.'
At least five Chinese nationals were among the six persons killed on Tuesday when an explosive-packed vehicle rammed into their bus in Pakistan's troubled northwestern province of Khyber-Pakhtunkhwa, officials said.
'No commercial bank will be allowed to fail. There is nothing to worry about.'
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