The Bombay High Court has ruled that the Prevention of Money Laundering Act (PMLA) takes precedence over debt recovery laws like SARFAESI and RDB Acts when it comes to the attachment of proceeds of crime.
Govt to bring 'Bankruptcy Code' for ease of doing biz
Pulbic banks have no reason to cheer Budget announcement.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
Govt must take few steps to improve business environment.
China's economy grew 6.7 percent in the second quarter from a year earlier.
The government has provided a long-term vision.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
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