This is a key reason for the finance ministry's objection to fixing the tenure at 100 years, as it is pushing PSBs to be self-dependent and raise funds from the market, reports Hamsini Karthik.
According to one of the Kochi team co-owners, Modi had driven them to 'madness'.
The SC has agreed to re-examine the sentence awarded by it to the cricketer turned politician in a 30-year-old road rage case.
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.
Noted banker Uday Kotak said the country's financial system is currently in a Darwinian mode as only the fittest lenders are able to survive. Kotak also said that historically, whenever there has been a problem with a private sector lender, it has been merged with a state-run bank.
Chanda Kochhar, the high-profile ex-banker had on November 30 moved the Bombay high court challenging "termination" of her employment by ICICI Bank which also denied her remuneration and clawed back all the bonuses and stock options between April 2009 and March 2018 for her alleged role in granting out of turn loans worth Rs 3,250 crore to the Videocon Group which benefitted her husband Deepak Kochhar. A division Bench of justices Ranjit More and SP Tavade allowed her to implead RBI and directed the apex bank to file its reply by December 16.
Prohibitory orders were imposed in parts of Ranchi city after some policemen, including an Indian Police Service officer, and others were injured in Ranchi on Friday while trying to control a mob near a temple, an official said.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
Chinese billionaire and Alibaba group founder Jack Ma is suspected to be missing following his mysterious disappearance from the public eye for over two months after Beijing's aggressive crackdown on his business empire.
The 136-year-old baby, argues Shyam G Menon, is taking a tiny step to tackling the biggest dread of old age: Change.
In the early part of 1800, a 30-acre plot next to Fort Gloster on the banks of river Hooghly in Howrah district of Bengal was the nerve centre of industrial activity; it housed India's first steam-powered cotton mill, Bowreah Mills, which was set up by a British merchant and went on to become a hub of factories - a rum distillery, foundry, cotton yarn factory, an oil mill and a paper mill, et al. Spearheaded by Dwarkanath Tagore, the industrialist grandfather of Rabindranath Tagore, the commercial complex was possibly the first of its kind in the country. Close to 200 years later, after much ebb and flow of history, the hub is set for a resurgence of sorts.
Bharatiya Janata Party working president JP Nadda and party general secretary in-charge of West Bengal Kailash Vijayvargiya led a rally in support of the amended Citizenship Act in Kolkata on Monday.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
PNB Housing Finance on Wednesday said it will disclose the outcome of shareholders' meeting held a day earlier -- on Rs 4,000 crore capital infusion led by Carlyle Group -- in accordance with the order of the Securities Appellate Tribunal next month. The company moved the tribunal on Monday after the capital markets regulator asked it on June 18 not to go ahead with the proposed capital raise plan by allotting preference shares to the investors until it carried out a valuation of shares from an independent registered valuer. The SAT in an order dated June 21 allowed the company to go ahead with the EGM, but restricted it not to announce the voting results by the shareholders, as the matter is pending before the court.
This pertains to certain irregularities in loan disbursements towards the development of two Slum Rehabilitation Authority projects undertaken by the company in the past.
Declining cash flows, difficult IPO environment are substantial complications.
67 companies with total debt of Rs 5.65 lakh cr were either loss-making or didn't generate enough profit to cover interest cost in FY15
Banking sources said the debt recast is actually 'Plan B' to help the nation's largest retailer stay afloat.
Activist Anna Hazare has decided to join Baba Ramdev in the latter's indefinite fast against corruption. Baba Ramdev is scheduled to hold an indefinite fast at the Ramlila Maidan in Delhi from June 4 to demand repatriation of the black money stashed in foreign banks. His supporters will also join him in the fast in 624 districts across the country to demand stricter steps to deal with corruption.Hazare has announced his decision to join the fast from June 5.
People came out of homes in large numbers, offered namaz at mosques, greeted each other with hugs and exchanged food and gifts across the length and breadth of India to celebrate Eid-ul-Adha on Sunday.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
On the Sensex chart, Vedanta was the biggest loser with 4.66 per cent decline. Other major laggards were were Tata Steel, IndusInd Bank, HDFC Bank, Kotak Bank, Axis Bank, HUL and Bharti Airtel, losing up to 3.36 per cent.
The BBC on Thursday issued an apology as an inquiry concluded that the media corporation had covered up the tactics used by journalist Martin Bashir to secure his famous 1995 interview scoop with Princess Diana, in which the late Princess of Wales opened up about her troubled marriage to Prince Charles.
The Service Tax Department has once again frozen the bank accounts of the national carrier Air India for non-payment of dues running into a little over Rs 300 crore (Rs 3 billion).
The liquidity crisis at Dewan Housing Finance Corporation Limited (DHFL) has dented the fortunes of ace investor Rakesh Jhunjhunwala, who increased his stake in the troubled company in the March 2019 quarter (Q4FY19).
In fresh trouble for YSR Congress chief and Kadapa MP Jagan Mohan Reddy, the Central Bureau of Investigation is freezing the accounts of three companies owned by him, including the Sakshi TV.
Two of the depositors had died of cardiac arrest, while another, a woman doctor, allegedly committed suicide.
England will be determined to get their act together against defending champions Sri Lanka.
A round-up of Tuesday's action in the UEFA Champions League.
Troubled Vodafone Idea Ltd (VIL) has filed a review petition in the Supreme Court after the apex court recently dismissed its plea for rectification of the alleged errors in the calculation of adjusted gross revenues-related dues. In the petition, filed earlier this week, VIL has said it is "a travesty of justice" that the company is restrained from questioning the arithmetical errors/ omission which are going to cost it about Rs 25,000 crore (Rs 5,932 crore of principal plus interest, penalty and interest on penalty). VIL has said its contentions have been rejected by the order under review and added that this denial could result in the company going under and its about 27.3 crore subscribers being left "high and dry".
'Are they assuming that by the end of May or the 15th of June, we will see the end of the pandemic?'
He challenged political parties to face the polls with the issue.
Here are some top quotes from Prime Minister Modi's speech in the Lok Sabha.
When it comes to a significant investment like a four-wheeler, many people end up paying high interest rates on car loans which can lead to high monthly installments.
Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
'Definitely it is being orchestrated.' 'Political parties are indulging in it and trying to gain some points from communities and vote banks they depend upon for their political survival.'
The Reserve Bank has asked troubled digital wallet firm MobiKwik, which is facing data breach allegations, to get a forensic audit done without any delay. Though the Gurugram-based firm has been claiming that its systems are secure and that there is no basis to the allegations of data breach, a group of hackers on Tuesday said that they accessed personal and financial data of nearly 10 crore MobiKwik customers. On Wednesday, sources in the know of the development told PTI that the RBI has ordered an immediate forensic audit of the company's systems by a certified auditor. When contacted, an RBI spokesperson refused to comment. MobiKwik refused to give a direct answer to a query on whether the RBI has ordered a forensic audit.
Postpone the purchase of big-ticket consumer durable items, recreational spending on holidays, and other such expenses unless your financial position is very secure, advises Sarbajeet K Sen.
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