The contempt petition in the Karnataka High Court has been filed only against liquor baron Vijay Mallya alleging breach of an oral undertaking given before the Debt Recovery Tribunal that they would not alienate unencumbered assets nor deal with them, Counsel for a consortium of banks clarified on Wednesday.
Ahead of World Book Day, Mumbai-based banker and blogger Roma Dhamija picks her favourite books.
In short, if India Inc lives up to the expectations in the required measure of resilience, innovation, initiative, imagination and leadership, it can help harmonise the imperatives of growth with control of inflation.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
The RBI has announced its credit policy last week and auto financiers believe that consumers should 'wait and watch' before the interest rates on auto loans settle down.
Among the states due for election next year are AP, Haryana and Odisha, which have a fair share of agri credit. If these states individually announced debt relief, the combined waiver would be at least around Rs 600 bn to Rs 700 bn. Clearly, this will be a frightening challenge for Indian banks.
From a small team of five weavers, Karagiri now works with 1,800 weavers from across India. Pallavi Mohadikar, co-founder of Karagiri, shares her incredible success journey.
'Tilting at the Government in English in front of India may make him feel like Joan of Arc, but without a feel for Bharat he will merely be Don Quixote,' says S Muraleedharan, former managing director, BNP Paribas.
'Ultimately, people will revolt at one time or the other.' 'You cannot feed the public with cultural issues forever.'
'From India to Indiana, there has always been a sense of hope, optimism, and goodness.'
Finance Minister Nirmala Sitharaman has rebutted Congress leaders Rahul Gandhi and Randeep Singh Surjewala's allegations regarding "wilful defaulters, bad loans and write-offs", and stated that they have "attempted to mislead people in a brazen manner".
A firm's claim for more than $100 million in damages from Bernie Ecclestone is far-fetched and relies on confessions from a jailed banker who is a "fantasist", a lawyer for the Formula One boss argued on Wednesday.
As the global economy sways into uncertain territories and domestic prices almost certain to rise, Raghuram Rajan's ideas would have come in handy.
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
Raghuram Rajan's exit reminds Syed Firdaus Ashraf of Kafka's The Trial.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
Unfavourable secondary market conditions aren't a big concern for IPOs by good quality companies.
'We first need to acknowledge the truth.' 'We are trying to diminish the problem and say, everything is okay and green shoots are emerging.' 'Imagine you are a doctor and not getting accurate medical reports, how do you diagnose and treat the illness?' 'We are not dealing with a terminal illness here, we are dealing with BP and cholesterol, which are imminently curable.'
A British judge found on Thursday that Bernie Ecclestone had paid bribes to a German banker as part of a "corrupt agreement" linked to the 2005 sale of a stake in Formula One - an issue at the heart of Ecclestone's forthcoming bribery trial in Germany.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
We present our alphabet of 2020, pulling in everything you'll remember about this year we'd rather forget.
Switzerland makes public 2,600 dormant a/c; 4 from India.
The newly-announced cabinet is expected to take oath on Monday at the President's House.
Urjit Patel, Binny Bansal, Nirav Modi and Rahul Gandhi personify the big trends that defined 2018. Well, almost...
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
Why do we need a cure here for peculiarly Western diseases when we don't have those diseases, and which the West itself is not trying to cure, asks Debashis Basu.
He has had a productive first year at the RBI -- one which saw, also, India's economic imbalances improve and the unexpectedly strong general election outcome.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
The journalist-turned author will be available for a live chat on rediff.com on Friday, June 6, 3 pm.
A glance back at some important events that occurred in 2018.
'Some co-operative banks are dominated by politicians and were reportedly being used to launder Rs 500 and Rs 1,000 notes.'
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The good news for us is that India's economy - and sentiment about it - is much better than it was a year ago, says Jamal Mecklai.
Indian companies are now more confident about the execution skills of local banks.
Covering-up of short positions ahead of Thursday's expiry of August series in the derivatives segment gave equities a slight push
These consistent performers are expected to maintain momentum.
'Is this the only way for India to become a $5 trillion economy?' 'When you have unused foreign exchange here, why borrow more dollars?'
'When I came here in 2002, I said you can grow at 8%.' 'And I was told that was crazy, and (now) here we are.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances