The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
Experts say that the lockdown and its aftermath will further quicken the consolidation in the real estate sector, which has been taking place since 2012, with more small players going out of the business and bigger, branded players dominating the market.
Banks, through the Indian Banks' Association, have urged RBI and credit information companies to maintain a database of wilful defaulters.
India has not only been decked in tricolour hues in the lead up to the 76th Independence Day celebrations, but also put under a heavy security blanket, right from Delhi, the epicentre of the mega celebrations, to Jammu and Kashmir.
Economic criteria to ensure that the benefits of government policies reach the target group is not "proscribed" and a "recognised" basis of classification, the Supreme Court orally observed Wednesday while hearing pleas challenging the Centre's decision to grant a 10 per cent quota for the EWS category in admissions and jobs.
Holding that Air India's conduct appeared to be 'unprofessional', aviation regulator Directorate General of Civil Aviation (DGCA) on Thursday issued notices to the officials and crew of the New York-Delhi flight, asking why action should not be taken against them for 'dereliction' of duty while handling the November 26 'urination' incident.
Extending its support to Saarc Bank, Sri Lanka on Thursday said the proposed financial institution will help in alleviating poverty in the South Asian region.
An alert government in Delhi should have begun government-to-government discussions with Moscow the moment it came to know that Russians were developing a vaccine. That is to say, almost an year's time has been lost, observes Ambassador M K Bhadrakumar.
Troubled Vodafone Idea Ltd (VIL) has filed a review petition in the Supreme Court after the apex court recently dismissed its plea for rectification of the alleged errors in the calculation of adjusted gross revenues-related dues. In the petition, filed earlier this week, VIL has said it is "a travesty of justice" that the company is restrained from questioning the arithmetical errors/ omission which are going to cost it about Rs 25,000 crore (Rs 5,932 crore of principal plus interest, penalty and interest on penalty). VIL has said its contentions have been rejected by the order under review and added that this denial could result in the company going under and its about 27.3 crore subscribers being left "high and dry".
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
Sebi penalised Shruti Vishal Vora - found guilty of leaking price sensitive information related to financial results of Wipro, Asian Paints and Mindtree, and Parthiv Dalal for similar action in case of Wipro earnings.
Office politics exists in many organisations, so don't let that bother you, advises HR Guru Mayank Rautela.
The NCLAT said the RBI cannot restrict it from prohibiting banks from 'asset classfication' and observed that any change in this order would upset the entire resolution process of the IL&FS
After stepping down from the board with effect from September 30, he will remain as Chairman Emeritus of the FMCG firm, according to a statement issued on Wednesday. The 79-year-old industrialist passed on the baton of GCPL to his younger daughter Nisaba Godrej in 2017 after leading the company for 17 years.
Prime Minister Narendra Modi asked G20 nations to freeze and repatriate unaccounted money hoarded abroad.
Cloned journals have become more rampant in the post-pandemic world.
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
"In principle, the ask in return is that India should not support the G7 (Group of Seven) proposal. "A decision on this issue will be taken later following talks with all the partners," an official with the Ministry of External Affairs (MEA) said.These "substantial discounts" will be steeper than those offered by Iraq in the past two months, officials said.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
It's hard to say because of the winner-take-all nature of new platform and network businesses, but Reliance has not been an efficient user of capital, and Adani numbers are varied, observes T N Ninan.
Bankers back the new bankruptcy code, which would impose debt deadlines on failed firms and foresees up to five years in jail for debtors who conceal property or defraud creditors
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
Given the fiercely competitive political environment, observers naturally associated an element of appeasement with the Shinde government's move, Shyam G Menon points out.
Conversion of outstandings into equity even partially should be a strict no-no says Chatered Accountant S Murlidharan
The Reserve Bank of India has issued several warnings that the public should not fall prey to such unscrupulous activities and verify the companies offering loans online and through apps.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
Thousands of Inter University Students' Federation (IUSF) students were seen sloganeering outside the Prime Minister's Residence in Wijerama Mawatha.
The agreement on sharing of financial information is a distinct and welcome break from its trend.
National Security Advisor Ajit Doval on Thursday called for seamless coordination among various agencies involved in protecting India's maritime interests in the face of emerging security challenges and increasing rivalries and competitions in the Indian Ocean.
Nifty snaps 10-day winning streak
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
Mannapuram Finance, Mahindra and Bharti Axa are some of the firms known to have bought office spaces worth more than Rs 100 crore
After a two-year lull, the deal pipeline in India's hospitality sector, which has witnessed a strong revival since the second wave of the pandemic receded, is running full. Family offices, high net-worth individuals (HNIs) and institutional investors are looking at the sector with renewed interest, according to investment and transaction advisory firms working on multiple deals. Most of them declined to divulge details of the deals for reasons of confidentiality. The cumulative debt of the tourism, hotels and restaurant sector rose 8.2 per cent year-on-year (YoY) to Rs 64,408 crore as of March 25, 2022 against Rs 59,519 crore on March 26, 2021, according to the Reserve Bank of India.
Chief Economic Advisor (CEA) K V Subramanian will be leaving the finance ministry and returning to academia on completion of his three-year term. The government had appointed Subramanian, an ISB Hyderabad professor, as the CEA in December 2018. He had succeeded Arvind Subramanian, who quit the position close to a year ahead of his extended tenure. Subramanian's three-year term would have come up for renewal in December but he decided to return to academia.
The powerful military establishment, which enjoys considerable influence over policy decisions in Pakistan, was also on board to ban JuD and other terror groups.
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.
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