Public-sector lenders Indian Overseas Bank (IOB) and Uco Bank are likely to raise funds through qualified institutional placement (QIP) next month. Punjab & Sind Bank is likely to follow suit later this financial year to meet the public shareholding norm of 25 per cent. When a public-sector unit raises funds through QIP, the money goes to the company because it involves issuing new shares whereas in the case of offer for sale (OFS), the money raised goes to the government because its shares are sold.
A multi-storey residential building collapsed in northeast Delhi's Shakti Vihar area in the early hours of Saturday, leaving 11 people dead and 11 injured, officials said.
A private school in Delhi's Rohini received a bomb threat via email on Friday, but it was later declared a hoax after a thorough search of the premises. The threat came just a day after a low-intensity blast took place in Prashant Vihar, near the school. Police are investigating the incident.
Bomb threats were received by a few schools in Delhi on Tuesday, making it the second such incident this week and the fifth in nine days in the national capital, officials said.
Full exemption for all health insurance premiums and reinsurance or a reduction in the GST rate from 18% to 5% on health insurance services is likely.
India's second-best woman tennis player defeated higher ranked Petra Kvitova of the Czech Republic in straight sets to advance to the second round of the US $200,000 WTA DFS Classic tournament in Birmingham on Monday. The US-based Indian, who is placed 100 rungs below Kvitova in the WTA charts, won the first round contest 7-6(6), 6-4 in little under two hours.
The bodies of three labourers were on Saturday pulled from the rubble of a wall that collapsed at a construction site in the Vasant Vihar area in New Delhi amid heavy rain, officials said.
A stampede-like situation at New Delhi Railway Station on Saturday evening left at least 15 people injured, and fatalities are feared. The incident occurred due to overcrowding on platforms 14 and 15, triggered by a rush of passengers heading to Prayagraj for the Maha Kumbh. Eyewitnesses described a chaotic scene with passengers fainting from suffocation and a scramble for space. Authorities are investigating the incident, with initial reports suggesting overcrowding due to the influx of passengers for the religious festival. Rescue teams and fire tenders were dispatched to the scene, and the injured were taken to hospitals for treatment.
Around 40 schools in Delhi received a bomb threat mail Monday morning with the sender demanding US
Finance Minister Nirmala Sitharman on Monday held a performance review meeting with heads of public sector banks and asked them to make concerted efforts to garner deposits. Deposits have been growing 300-400 basis points lower than the credit growth in the last few months, creating an asset-liability mismatch for banks. During deliberations on the deposit mobilisation, she said that while the credit growth has picked up, mobilisation of deposits could further be improved to fund the credit growth sustainably, and asked banks to make concerted efforts to garner deposits by conducting special drives.
The fire was preceded by a blast and soon it spread to nearby buildings, including a drug rehabilitation centre and eight shops.
Post-mortem examination reports of 10 Kuki-Zo youths killed in an alleged gunfight with CRPF in Manipur have revealed that they sustained multiple fatal bullet injuries, with most of them fired from behind. The reports also noted that the youths were in camouflage and khaki dresses when they were brought for autopsy. The incident has raised concerns about the circumstances surrounding the deaths and the ongoing ethnic violence in the state.
Delhi Fire Services on Sunday said eight city hospitals and IGI Airport received bomb threats through emails, 11 days after over 150 schools in Delhi-NCR received a bomb scare of unprecedented scale.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
Coaching institutions across the national capital, some lined up in cramped lanes while others housed in lofty buildings in busy commercial areas, are risking the lives of students, with lack of fire safety measures, single entry and exit points, faulty wiring and overloaded electrical circuits among the most common problems.
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. "We have asked banks to undertake comprehensive review of the gold loan business," financial services secretary Vivek Joshi told PTI.
A 53-year-old man died on Thursday when a portion of the Gokulpuri Metro Station on the Pink Line in northeast Delhi collapsed, the police said.
Power was also disrupted in many areas as the dust storm swept the national capital late Friday night.
The rocket which fell on the compound of former chief minister Mairembam Koireng's residence seemed to be an improvised one.
Plumes of smoke could be seen billowing from the spot. A purported video of the aftermath of the explosion also surfaced on social media showing thick dense white smoke.
One person was shot dead in his sleep while four others were killed in subsequent exchange of fire between armed men of two warring communities, a police officer said.
"Even the expired licence issued to the said hospital allowed for five beds only," Deputy Commissioner of Police (Shahdara) Surendra Choudhary said.
Students held a protest over the deaths of the civil services aspirants, raising slogans against authorities.
There was no loud noise of anything breaking when the rods of a portion of a roof collapsed at the Delhi airport's Terminal-1, Krishna Kumar, a cab driver who was at the site of the incident, said on Friday.
The officials of the Delhi Fire Services said the blaze broke out at the children's hospital in Shahdara on Saturday night.
The interim magisterial inquiry report and the MCD Karol Bagh zone superintending engineer report were submitted to revenue minister Atishi who alleged that the "bureaucracy" was showing "laxity" in investigating the death of the civil services aspirants.
"Allah ko pyaari ho gayi meri beti," said Ansaar, whose 11-day-old daughter was among the seven newborns killed in a blaze at a childcare hospital.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
A few students were detained after they staged a protest in Old Rajinder Nagar in New Delhi on Sunday, demanding action against those responsible for the deaths of three civil services aspirants at a coaching centre in the area, and compensation for their families.
Four hospitals in Delhi received a bomb threat via email on Tuesday morning, officials of the Delhi Fire Services said.
According to a police officer, the fire started in the office of the Commissioner in room number 325 on the third floor of the building. He said many of the employees were outside the building as it was lunchtime, otherwise, the casualty could have been more.
A leopard strayed into a village in north Delhi's Wazirabad early on Monday, creating panic in the area and injuring eight residents before being tranquillised by forest department officials after an over five-hour-long rescue operation.
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
According to the list of DFS, there are more than 100 such buildings in Lutyens' Delhi alone.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.
The finance ministry has asked public sector banks (PSBs) to postpone the annual exercise of promoting and transferring their staff in the wake of the Covid-19 pandemic. The advisory issued by the Department of Financial Services (DFS) states that the promotion process has coincided with a spike in Covid-19 cases across the country along with localised lockdowns and an increase in micro-containment zones. As there are cases of bank employees or their family members being hospitalised due to Covid-19, bank, insurance companies and financial institutions must take cognizance of the issue, the advisory issued by DFS said.
Tarun Bajaj, an old hand at the finance ministry, on Friday assumed charge as the economic affairs secretary. He comes back to North Block at a time when the economy is facing headwinds due to the outbreak of Covid-19 pandemic.
Charred human remains were found on Saturday on the second floor of the building in outer Delhi's Mundka area where a massive fire broke out a day back, Delhi Fire Service officials said.
