Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
There has been a decent growth in FDI proposals and new announcements in India to attract foreign investment.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
Around 250 financial market players will participate in a closed door meeting with Narendra Modi on February 27.
Bandra-Worli sea link has still not been able to make money for MMRDA in spite of steep toll for car owners.
The net sales growth declines 4.4% in September quarter, the second worst in eight years.
The ED is contemplating a special audit of the account in the backdrop of rating agencies downgrading various debt papers of IL&FS.
India needs to follow countries such as Singapore who have and are further bolstering their cyber security apparatus.
The Finance Ministry further said decision on seven FDI proposals has been deferred.
ONGC was the top performer while private banking major ICICI Bank extended gains
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
She said that despite government scheme and initiatives ranging from roads to agriculture, housing, scholarships to electricity benefiting lives of people, a false narrative was being created by the opposition that the government was working for cronies.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
While the two high-profile exits in pharmaceutical and telecom have raised concerns over regulatory hassles in the country, Japanese investors are still keen to tap into India's consumer growth story and many more merger and acquisition deals are in the offing in this space.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
At a time when capital allocations to real estate are growing globally, investors are expecting transparency standards in real estate to be at par with other asset classes, says Anuj Puri.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
The rupee's stability in the last 12 to 18 months made corporates reduce hedging
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Inviting private sector in Indian Railways is a good idea.
The central bank has been intervening in the foreign exchange market by buying dollars, and this is capping the rupee's gains.
The flawed response to the crisis has fed a us-vs-them mentality in which the banker, the expert, the coastal entrepreneur, the immigrant, the foreigner are all villains. The crisis was not that much of a problem; the response -- the over-reaction, the sovereign debt build-up and the lasting anger -- is the problem, says Mihir S Sharma.
Iran's decision to keep India out and welcome China to the scene is a huge strategic setback for India, observes Dr Rajaram Panda.
China's economy is in transition, with rising wage costs and massive overcapacity.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
Corporates understand that the PMO drives all key decisions in this government.
Low oil prices also means effectively transfer of wealth from the producing nations to the consuming nations
Assocham said even if an investment revival were to happen, it would be a time lag of at least 18 months before it reflects in the manufacturing sector.
International Finance Corporation plans to increase its investment to $1.0 billion this year in Indian companies, mostly engaged in manufacturing, infrastructure and financial sectors.
'The Insolvency and Bankruptcy Code cleans up non-performing assets and puts companies in capable and credible hands.'
Without periodic booster shots to display of strength, how is this government what it aims to be? There was also the landscape of prosperity pictured; the in-season affair with 'amrit' stretched to a longer residence in 'Amrit Kaal', notes Shyam G Menon.
IMF attributes the slower growth rate to supply-side bottlenecks.
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
The report found that only 20 per cent of companies supported programmes that aimed to change the behaviour of individuals despite its critical role in eliminating open defecation.
NDA government has shunned populism.
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