'Clearly, the depositors of cooperative banks need the maximum protection.'
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
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It would be fair to say that markets are coming to the end of a down-cycle and are at the cusp of the next up-cycle.
M-cap of 35% of BSE-500 companies, excluding financial ones, is below their debt or just a shade above
The Centre also overruled financial advisers' recommendations for making payments through an escrow account, an important safeguard in the absence of a sovereign or bank guarantee, The Hindu has reported.
Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
Railways to hive off all production units and workshops into new govt-owned company; may invite bids from private players to run passenger trains in next 15 days, with ownership vesting with the government.
Prosus-backed fintech firm PayU is set to acquire India's earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India's digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa. The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV).
The agency also alleged that Deshmukh exercised undue influence to pass favourable transfers and postings of the police officials.
Overbooking by an airline cannot be done ignoring the sense of duty or liability towards passengers with confirmed tickets, the national commission ruled.
For people at the bottom of the pyramid, which I would rather address as mass market or emerging class; the primary challenge in accessing banking services are not just affordability but applicability and accessibility of services.
States may face a GST compensation shortfall of Rs 3 lakh crore in the next financial year, a situation that will force them to borrow more from the markets, says a report. The states may face a shortfall of Rs 2.7-3 lakh crore as Goods and Services Tax (GST) compensation from the Centre next fiscal. Out of that amount, the shortfall from cess collections will be at Rs 1.6-2 lakh crore, according to an Icra report released on Monday. In FY21, the states were facing a shortfall of Rs 1.1 lakh crore in GST compensation from the Centre but over 90 per cent of that amount has been cleared now.
Replying to an RTI query, the PMO said a Special Investigation Team (SIT) has already been formed and its investigation is underway.
Customs sleuths will be posted in London, Hong Kong, Dubai and Brussels in an effort to check trade-based money-laundering among others.
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
Watal panel had suggested an independent payments regulator be set up.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
'At this stage, you should distribute money and food.' 'Like you queue up to vote, let people queue up to collect this.' 'This will arrest the decline in demand which will have a multiplier effect on the demand side for the economy as a whole.' 'The government should earmark about 2% of the GDP for this.' 'And this should be the first step to revive the economy.'
The April-June quarter GDP slipped to 7 per cent from 7.5 per cent.
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.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
The Essar Oil, Rosneft deal also helped Arpwood Capital, boutique investment bank, co-founded by Rajeev Gupta and Raj Kataria, to grab the second spot in the mergers and acquisitions league table.
Cities are setting the rules that now carry life and death implications for their residents, and most of these rules are sought to be set by the municipal authorities who have never wielded such power, reports Subhomoy Bhattacharjee.
While waiting for an independent aviation agency to be legislated, moves to address American aviation authority's audit rap.
While consumers feel that petrol pinches directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, has also listed several other concerns with regard to MXC deal.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Marathas have been declared as socially and educationally backward class of citizens and have inadequate representation in services under the state. They are entitled to reservation benefits and advantages enshrined in the Articles 15(4) and 16(4) of the Constitution, the recommendations mentioned.
There were 35 defects that still remained to be resolved. Of these, 29 could not have been resolved during the monsoon since they required testing in absolutely calm seas. Nor is the Khanderi being commissioned with a full complement of its primary weapon, the torpedo.
DEA officials to push for this at a meeting with FM Jaitley.
EU says Google unfairly pushes own apps with Android
There are about 50 lakh (5 million) Central government employees.
Although the industry is disappointed with the government decision not to lower spectrum prices at a time telcos are saddled with over Rs 4-trillion debt and an estimated Rs 1.43-trillion licence fee dues, the DCC has relaxed the payment structure to offer some relief to the financially stressed sector.
The Finance Ministry has asked top rung exectives of United bank of India to furnish bad loan recovery report on daily basis.
TCS chief operating officer N Ganapathy Subramaniam earned over Rs 11.61 crore in FY19 as compared to Rs 9.29 crore last fiscal.
Solicitor General Tushar Mehta, appearing for Uttar Pradesh, said the state has taken several steps to contain the spread of coronavirus but to "lockdown five cities by a judicial order may not be the right approach".
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
The biggest loss of jobs among salaried employees was of 'white-collar professional employees and other employees'. Among these are engineers including software engineers, physicians, teachers, accountants, analysts and so on, who are professionally qualified and are employed in some private or government organisation All the gains made in their employment over the past four years were washed away during the lockdown, reveals Mahesh Vyas.
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