The Centre has advised banks to make a 20 per cent reduction in expenditure related to non-core business activities, along with deferring "avoidable expenditure" on "purchase of staff cars", "refurbishment of guest houses" and on the interior decoration of administrative and back offices.
Suuti's merchant bankers give proposal; deal value could be Rs 2,800 crore
Not only do you need an effective and independent regulator, you also need competition to flourish.
Hackers believed to be working for the Chinese military breached the United States government computers, possibly compromising the personal data of 4 million current and former federal employees.
'I would say restore the banks to health, get active board composed of professionals, then there will be an ideal situation for merger.'
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.
'The Centre and state need to take a unified approach and take concerted action before this matter assumes menacing proportions because unemployment, the drug trade and the levels of frustration among the youth make them vulnerable to any maverick who promises something better.'
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
'It is strange a government that is bold and coercive has meekly chosen to do more of what has repeatedly failed to work in the past.' 'And sadly, rating agencies, the business community, fund managers, and analysts, who know this, have chosen to act as compulsive cheerleaders,' says Debashis Basu.
Even if some of those projects remain on paper, the potential for manufacturers and engineering firms is too big to ignore
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
Rather, cold reactions are expected considering the contentious issues the US is bound to raise -- Taiwan, human rights, and North Korea.
Severe heatwaves, responsible for thousands of deaths across India over the last few decades, are increasing with alarming frequency and soon the country could become one of the first places in the world to experience heatwaves that break the human survivability limit, according to a new report.
These sectors have underperformed the wider market over the past year and are seen having far more upside potential if the economy picks up thanks to Modi's reformist agenda.
For next fiscal, the minority stake sale target has been kept at Rs 36,000 crore.
During the negotiations held on May 5, IBA made two unacceptable propositions including an offer of 2 per cent hike in the wage bill cost as on March 31, 2017
Congress leader Rahul Gandhi on Friday assured that the Citizenship Amendment Act (CAA) will not be implemented in Assam if the party is voted to power in the state in the coming assembly poll.
At a time when crude oil and natural gas prices are sky-high, public sector behemoth ONGC's haphazard planning and mismanagement in developing showpiece deep-sea KG-D5 block is costing the nation over Rs 18,000 crores due to the delayed output of oil and gas, government officials said. ONGC was originally to start gas production from the Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil was to flow in March 2020. But these targets were quietly shifted to end-2021 because of deferments in awarding the fragmented work packages of the project, two officials with direct knowledge of the matter said on condition of anonymity.
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
Mandaviya said this is the second phase of the Emergency Response and Health System Preparedness Package as the Central government had given Rs 15,000 crore earlier for setting up Covid-dedicated hospitals and health centres across the country.
Air India has been in the red since the merger of then Air India and Indian Airlines in 2007.
Banks are also weighing the option of hiring experts for help in specialised areas.
Govt is keen to push reforms in the insurance sector.
'It is a national shame that the only country that enacted a food security act is now better known as the land of farmer suicides. Indian farming can change only if national irrigation policy is implemented in totality,' Dr M S Swaminathan tells Shobha Warrier/Rediff.com
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Though the party's pre-poll promises include increasing the focus on technology, this isn't a new idea.
'If the government was serious about co-opting the corporate sector meaningfully in the fight against COVID-19, it could have specified activities beyond cheque-writing,' notes Kanika Datta.
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The market regulator is wielding an unprecedented level of control over how mutual funds operate, delaying new launches and dictating investment strategy, frustrated insiders in the embattled industry say.
The proposal for listing public general insurers had come up in 2007.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
The government is somehow convinced that selective low-rate lending will stimulate demand and accelerate economic growth that plunged to a four-year low of 4.4 per cent in the first three months of 2013-14.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
'With over 50 per cent of medical seats reserved for those who have the ability to pay a fee ranging from Rs 50 lakh to Rs 1.5 crore for a five-year MBBS course and quotas in accordance with affirmative policies in government colleges, the band of seats available for the not-so-rich and non-OBCs is very narrow.'
This apart, to further increase capacities, Bharat Biotech has partnered with Indian Immunologicals (IIL) to manufacture the drug substance for Covaxin. The technology transfer process is underway and IIL has the 'capabilities and expertise' to manufacture the inactivated viral vaccines at commercial scale.
Lenders say settlements will cross over 100 accounts in the March quarter.
Strict lockdown-like restrictions are already in place in the southern stateand the Pinarayi Vijayan government decided to clamp the complete shutdown in the wake of severe spike in the positive cases.
The Niti Aayog has finalised the first draft of a new national energy policy.
The government has the upper hand in the ongoing negotiations, and it is unclear if a real debate will happen, observes Tulika Narayan.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
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