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.
The amendments give committee of creditors of a loan defaulting company explicit authority over the distribution of proceeds in the resolution process and fixes a firm timeline of 330 days for resolving cases referred to the IBC.
The culture of freebies burdens coming generations with the huge bill for the flagrant abuse of power by preceding governments, points out Virendra Kapoor.
'When they're told the producer has no money to pay them, where do they go?'
Amid a grim global scenario, India will have to labour hard to hold on to seven per cent growth in 2016-17.
Industrial output rose to nearly three-year high of 6.4% in August.
Lehman Brothers, whose collapse worsened the global financial crisis in late 2008, slumped into bankruptcy as the entity failed to get the necessary support from the US authorities, former chief Richard S Fuld has said.
Experts are betting big on the clause that talks of capital gains.
The Delhi and Districts Cricket Association has requested Board of Control for Cricket in India CEO Rahul Johri through observer Justice Mukul Mudgal to release Rs 2 crore on ad-hoc basis for hosting the ODI against New Zealand in October last year.
GM shares, which were listed at the New York Stock Exchange on December 20, 1916, were worth close to about $100 a piece in 2000. The going-under of this iconic carmaker has been billed as a 'surgical bankruptcy' by the government for its revival into a new GM in the next two-three months, but the long-running restructuring exercise could not help avoid a loss of over $10 billion in the past one year for investors.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
The Modi government could steer through Parliament 59 out of 75 Bills.
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
Three members will be representatives from the government, and three from the RBI.
The GST bill is stuck in the Rajya Sabha where the ruling NDA govt does not have a majority as well as stiff opposition by the Congress
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
Goyal is expected to discuss the targets for the banks for 2019-20, as well as priority sector lending, recovery on non-performing assets, and the bankruptcy proceedings of various companies, which owe money to the banks.
'The one sector where there is still a sense of crisis is banking, but the government has regrettably set its face against privatising any of the government-owned banks,' says T N Ninan.
'Once we are past this electoral season, during which all promises are presented as free lunches, could we bring such non-populist issues into focus?' 'Like fixing the problems of the public sector?' points out T N Ninan.
'If there was ever a time to start up, it is the NOW and HERE!'
Following several instances of poor drafting of Cabinet notes and bills in the recent past, on September 11, the Cabinet Secretariat wrote to all ministries and departments to read up paragraph 55 of the 'Handbook of Writing Cabinet Notes'. Archis Mohan reports.
India had a transition from 'socialism with a limited entry to marketism without exit'.
He added that the risks can increase if the Chinese slowdown gathers more speed.
The finance minister is in Singapore for The Singapore Summit.
'Good economics isn't necessarily bad politics, or vice versa,' says Shekhar Gupta.
'Equity investing should be for longer than a year's perspective.'
Modi said the House did not witness any earthquake, an apparent reference to claims of Rahul Gandhi that his revelation on Rafale would create tremors.
The average rating was seven out of 10.
Analysts say markets to be impacted by monsoon, inflation trajectory.
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.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
The legislation passed with 230 votes in the 300-seat chamber.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
The 21st meeting of FSDC comes against the backdrop of the economy hitting a six-year low growth rate of 5 per cent in the first quarter of 2019-20. Even some of the macroeconomic data for the second quarter does not portray an encouraging picture of the economy.
The agency has predicted that monsoon will also be a major factor.
It is too late in the government's term for it to pull its usual trick of blaming the last guys.
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