Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
'You will never be able to do any work for society if you wait to make enough money.'
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by State Bank of India (SBI) have suggested to Department of Telecommunications (DoT). DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by telecom majors, including Vodafone Idea and Bharti Airtel, sources said. The top court has given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
The BSP has not entered into any alliances and has also been keen to shed the tag of being a 'B-team' of the BJP.
The Reserve Bank on Saturday extended the special drive to withdraw Rs 2,000 bank notes from the system by another week, till October 7.
Tourist centres have been closed in many districts, including Kottayam and Thiruvananthapuram, and a night travel ban has been imposed in the hilly areas of Idukki district.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
Police have also collected bank account details of all the accused to see if they received money from someone for executing the December 13 incident, police sources said on Monday.
As many as seven firms, including JM Financial, Ernst and Young and Deloitte, have bid for managing the strategic sale of IDBI Bank. These firms would make a virtual presentation before the Department of Investment and Public Asset Management, which is handling the sale process, on August 10, according to a notice by DIPAM. The firms that have bid for acting as transaction advisor are Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets.
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
One bill provides $60.8 billion for Ukraine, with over 80 percent of it for helping Kyiv amid its ongoing war with Russia, including replenishing supplies of US made weapons and ammunition.
Chinese banks -- China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC) -- will get a lion share of 30 per cent or Rs 7,000 crore in RCOM/RTL/RITL resolution plan, with the DoT getting nothing if the proposed plan goes ahead.
A woman doctor from Thane district in Maharashtra is feared to have died after allegedly jumping into the Arabian sea from Atal Setu, the longest sea bridge that connects south Mumbai with Navi Mumbai, police said on Wednesday.
'Israelis arrested us before this war and continue to do so -- even more so -- now.'
According to the EIC, Telangana officials are allegedly not allowing Andhra Pradesh officials to even enter the dam to conduct inspections.
The judgment will impact a sizeable number of people in the state, according to a lawyer involved in the matter.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The last time the two teams faced off in Lucknow last week, KL Rahul and Quinton de Kock put up a record opening partnership
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Defending champions Chennai Super Kings will expect a lot more from their top-order as they aim to get their campaign back on track against a power-packed Kolkata Knight Riders in the IPL match in Chennai on Monday.
Prime Minister Narendra Modi would have got a tough fight in Varanasi had Congress general secretary Priyanka Gandhi Vadra contested against him as Indian National Developmental Inclusive Alliance (INDIA) candidate, feel party workers from the temple town.
A bench comprising Justices Sanjiv Khanna and Dipankar Datta took note of the submissions of lawyer Prashant Bhushan, appearing for NGOs 'Common Cause' and the Centre for Public Interest Litigation, that the plea needed to be listed for hearing at the earliest.
The complainant alleged that Darekar posed as a labourer, which was later found wrong.
Business failures rise when growth declines. When Indian growth slowed in the last decade, defaults increased. This is the normal working of the market economy, points out Ajay Shah.
LSG, Punjab Super Kings will be aiming to bounce back after losing their previous match.
Speaking at the Congress manifesto launch programme, Gandhi said it is a much closer contest than what is propagated by the media, and expressed confidence in winning the polls.
Biden also called for Israel to respect humanitarian law and minimise the loss of civilian life, saying he counselled Israeli officials during his trip to Tel Aviv "against letting their hurt and rage mislead them into making mistakes we ourselves have made in the past."
Reliance ADA Group chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in south Mumbai. Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said without elaborating.
The size of the Reserve Bank's balance sheet, which is reflective of activities carried out by it in pursuance of currency issue function as well as monetary policy and reserve management, has increased by 6.99 per cent during the nine-month period ended March 31, 2021. While income for the year decreased by 10.96 per cent, the expenditure decreased by 63.10 per cent, as per the RBI's Annual Report for 2020-21. The year ended with an overall surplus of Rs 99,122 crore as against Rs 57,127.53 crore in the previous year, representing an increase of 73.51 per cent, it added.
Suryakumar praised India's performance against Australia and encouraged the team to play 'fearless cricket'
The contribution from asset management companies (AMCs) has surpassed the Rs 3,000 crore target for the creation of a Rs 33,000 crore backstop facility for debt mutual funds (MFs). The initial corpus for the Corporate Debt Market Development Fund (CDMDF) is nearly Rs 3,100 crore, according to multiple government officials and AMC executives. "The fund is operational now. "The required corpus has been raised by AMCs and the remaining part (Rs 30,000 crore) is in the form of a guarantee from the government which will be activated only in case of a credit event," explained D P Singh, joint CEO and deputy MD, SBI MF.
The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
The Centre could further moderate its divestment target for 2024-25 (FY25), as it does not expect large receipts from asset sales - except some ongoing strategic ones, including IDBI Bank, which could spill over into next financial year. Also, it may drastically reduce its FY24 divestment target of Rs 51,000 crore. "We are still evaluating the Budget estimates for FY25. "New big-ticket asset sales are unlikely.
The government has exhausted only 39 per cent of its fiscal deficit target in the first half of FY24.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
