Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
Extensions of H-1B visas have become even tougher, in particular if the employee has been on a bench for any part of their previous duration.
And will sell its 50 per cent stake to State Bank of India in Russia as part of rationalisation of overseas branch network.
Barclays customers would now be able to access all the information about the bank and its products and services besides downloading account opening forms in seven languages -- English, Hindi, Marathi, Gujarati, Tamil, Telugu and Kannada. Barclays Bank Plc's Global Retail and Commercial Banking, managing director, India and Indian Ocean, Samir Bhatia, said: "Barclays is committed to offering services that make banking easy and accessible to all."
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
China on Tuesday alleged that US billionaire Elon Musk-owned SpaceX's satellites had two 'close encounters' with its space station in orbit, and has complained to the United Nations about the incidents which endangered the safety of the Chinese astronauts.
'How can I pursue my dream forgoing my identity? I want to fly as a trans man.'
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.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Embargo on imports from a neighbouring country would send a chilling signal to foreign investors who look for transparency and companies with manufacturing units in India had requested the government to publish any change in port policy "to provide the business community with the visibility they need to function", says United States-India Strategic Partnership Forum.
'The real significance of the visit lies in the extent of the receptivity in Myanmar of the account of Chinese perfidy given by India's military and civilian top brass and how they assess the danger to themselves of dancing with the dragon,' notes Ambassador T P Sreenivasan.
Though dubbed as the "war hero", the role of Rajapaksa in ending the conflict with the Liberation Tigers of Tamil Eelam with the death of its supremo Velupillai Prabhakaran in 2009 is quite divisive as he stands accused of violating human rights, a charge he vehemently denies.
With the insistence on data centres to be onshore, entities in real estate believe there is going to be a rise in demand for specialised Grade-A commercial spaces to set these up.
Pakistan, the report said, has played an active, and by many accounts, a negative role in Afghan affairs for decades.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
Led by the weak trend in the broader market, the market capitalisation of BSE-listed companies plunged Rs 1,65,437.91 crore to Rs 1,38,54,439.41 crore.
The Union health ministry said West Bengal and Himachal Pradesh reported a casualty each on Monday, taking the total number of deaths to nine in the country due to COVID-19.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
For years it has been evident that fibre and DTH would give tough competition to cable in India where regulatory overload has mutilated an already warped industry structure. OTT added fuel to the fire. From Rs 27,000 crore in 2010, cable's share of subscription revenues is now estimated at Rs 13,000 crore.
Ahead of two crucial audits, the Ministry of Civil Aviation (MoCA) has proposed to allow deputy director generals (DGs) and officers of Indian Air Force (IAF) to apply for the post of chief of India's aviation regulator. The current head of the Directorate General of Civil Aviation (DGCA), Arun Kumar, has been promoted as secretary and is expected to move out some time soon. DGCA has four Deputy DGs with experience in different fields of aviation.
'Whoever owns the best chip industry will be the Saudi Arabia of the era of data,' predicts Rajeev Srinivasan.
He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
While industry is upbeat, start-ups in the space sector are finding it difficult to cater to the demand due to a lack of funding, issues related to policy like foreign funding, intellectual property, etc, and a lack of support in testing.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
'There was never really a doubt, but now it can be conclusively stated that the prime minister has unusual mental and physical stamina,' says Sheela Bhatt/Rediff.com who is covering Narendra Modi's visit to the United States.
Addressing the CII annual session, he also indicated to further liberalisation of policies to attract more FDI and FII funds, promote external commercial borrowings, service exports and tourism.
According to the book, 'Keenie Meenie: The British Mercenaries Who Got Away With War Crimes', authored by UK-based investigative journalist Phil Miller India's secret use of British mercenaries lasted for four months after the Indo-Lanka accord was signed between former Prime Minister Rajiv Gandhi and then Sri Lankan president Junius Jayewardene in 1987.
The ministry seeks to make lending requirements flexible for banks financing key stalled projects.
Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for $37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing. Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India. In a regulatory filing to stock exchange Bursa Malaysia, AirAsia said, "The board of directors of AirAsia wishes to announce that its wholly-owned subsidiary AAIL and Tata Sons Pvt Ltd, India, on December 29, entered into a share purchase agreement."
The report of Kim's illness started doing rounds following his absence at the Kumsusan Palace of the Sun in Pyongyang on the birthday of late state founder and his grandfather, Kim Il-sung, earlier this month.
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Are "dubious" new categories and "shady" new brands, financed and funded by avaricious investors trying to change the contours of the Indian marketplace forever, asks Sandeep Goyal?
After a long hiatus of more than 20 months, the government had on November 26 announced the resumption of scheduled international commercial flights from December 15.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
The government is considering setting up air freight stations to enable direct movement of vaccines from pharmaceutical factories to the aircraft.
The government kept its nerve in the face of a massive shock. It chose not to resort to a massive fiscal stimulus. It focused instead on providing liquidity support and easing restrictions on movement in stages, observes T T Ram Mohan.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
Domestic air passenger traffic was back to the growth trajectory in June amid the falling number of COVID-19 cases in the country with around three million passengers flying on local routes in the previous month as against around two million in May, a report said on Tuesday. Though there is some recovery observed in June, stress on demand continues, driven largely by the second wave of the pandemic, limiting travel to only necessary travel, credit rating agency ICRA said in its report. On a sequential basis, domestic passenger traffic was up 41-42 per cent in June over May.
