'With Ramaland, the tourism department is looking to attract children and adults alike. It'll be learning with entertainment.'
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India managing director Swaminathan J said on Thursday. If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans, which shall ultimately lead to better resolution of the asset quality stress for all. The government is yet to announce the specific contours of the NARC or the bad bank and has also only said that it is willing to provide some sovereign guarantee to help the platform.
The Reserve Bank of India (RBI) has clarified that loans which have remained standard without any defaults as of March 1, 2020, will be eligible for restructuring under the pandemic-related resolution framework issued in August.
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.
A complex holding structure and unrelated businesses clubbed under one roof could have been the reasons that prompted investors to shun the stock, experts say. These are likely to impact the company's ability to raise funds, too, they add.
IMF's Chief Economist Gita Gopinath will leave her job in January next year and return to the prestigious Harvard University, according to the global financial institution.
The government on Friday decided to stand guarantee to domestic financial institutions to settle foreign debts of Dabhol Power Project as part of its efforts to settle the issue and restart the power company.
Dawood Ibrahim is wanted in India to face the law of the land for carrying out serial blasts in Mumbai in 1993 in which scores of people were killed and injured.
India will kickstart on Tuesday a two-day multi-agency military exercise covering the country's 7,516 km-long coastline and exclusive economic zone with the twin aim of checking the preparedness of various agencies to deal with any eventualities and bolster overall maritime security, officials said.
This alliance is also planning to tap the infrastructure sector covering express highways, airports and hi-tech construction involving power plants and mega projects.
Amid an existential crisis facing the firm over Rs 50,000 crore unpaid dues towards the government, billionaire Kumar Mangalam Birla on Wednesday stepped down as the chairman of Vodafone Idea Ltd. Birla -- who had in June offered to give away his holding in the joint venture with Britain's Vodafone to the government -- will cease to be a director and non-executive chairman of the company at the end of business hours on Wednesday, VIL said in a filing to the stock exchanges. It did not give any reason for Birla's decision. He will be replaced by Himanshu Kapania (who was earlier managing director and CEO of Birla's Idea Cellular) as the new chairman of Vodafone Idea Ltd.
The health sector has been allocated Rs 89,155 crore in the Union Budget 2023-24, a hike of around 13 per cent over Rs 79,145 crore allocated in 2022-23, with the government also announcing a mission to eliminate sickle cell anaemia by 2047.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
'He was the most thoughtful corporate person I encountered.'
The Union Cabinet is understood to have decided to constitute an empowered Group of Ministers to resolve the crisis plaguing the multi-billion Dabhol power project, promoted by the erstwhile Enron Corporation.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
Investor forum wants govt to take over exchange, raises doubts on claims of matching stocks; NSEL says default by brokers to be dealt with legally.
Rahul Gandhi supports New Delhi's policy of having its relationship with Russia in the context of the Ukrainian war, despite the pressure it feels from the West.
The five include Abdel Aziz Rantissi, its new leader.
This will help expedite private sector power projects, said sources.
Maruti scrips closed 1.8 per cent higher at Rs 663.05 on the Bombay Stock Exchange.
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
Hizb-ut-Tahrir has cleverly avoided any intense global scrutiny while spreading its ideology and support base in nearly 50 countries
The government is not averse to mega merger of banks and financial institutions like IDBI and IFCI, if all stipulated norms of the Reserve Bank of India are met, Finance Minister P Chidambaram said on Wednesday.
The government will have to make substantial payments, as well as forego revenues in FY'23, if it wants to work on the survival of Vodafone Idea because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crore for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the instalment payout for a third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief.
Indian lenders to the Dabhol power plant are close to a settlement with Bechtel, which will clear the last major hurdle in reviving the 2,184 MW power plant that has been shut for over four years.
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
The total distance covered by the train will be 534 kilometres.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
Godrej Properties Ltd has acquired legendary film actor, director and producer Raj Kapoor's bungalow at Chembur in Mumbai for around Rs 100 crore to develop a luxury housing project with a sales potential of Rs 500 crore. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company said in a regulatory filing. When contacted, Godrej Properties executive chairman Pirojsha Godrej told PTI: "The total size of the land is around 1 acre.
The latest circular from BSE that sought to cap the price movement of select scrips, especially the mid-, small-cap segments, traded on the exchange is not without a reason. A quick calendar year-to-date price check on the stocks from the categories put under 'Add-on Price Band Framework' by the BSE reveals a total of 210 stocks have seen their market price more than double. Among individual stocks, SC Agrotech, Adinath Textiles, Waaree Renewable Technologies, Steel Strips Infrastructure, Unistar Multimedia, Texel Industries, Raja Bahadur International and Hindustan Everest Tools from the BSE's X and XT group have rallied over 500 per cent during this period. Topping the charts is Gita Renewable Energy, which has zoomed 3,964 per cent to Rs 272.35 now from Rs 6.7 as on December 31, 2020.
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
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