Chief Justice of India N V Ramana on Wednesday termed as "very unfortunate" certain "speculations and reports" in the media about the collegium meeting regarding the appointment of judges in the Supreme Court.
Instead of the minority stake they held earlier, now they have controlling stake in many firms
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.
Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
Bharti Airtel Chairman Sunil Bharti Mittal said India has lost one of the finest political leaders and a legal luminary.
Decoding four important provisions in the Finance Bill 2018.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
A lack of adequate disclosures raises the financing costs of corporate firms, especially sub-investment grade ones, and keeps the capital markets small, believes RBI deputy governor Viral Acharya.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
It had been pointed out to the banking regulator that one-day default was difficult to monitor in large companies, especially where cash flows are dependent on government payments.
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
Modi said the House did not witness any earthquake, an apparent reference to claims of Rahul Gandhi that his revelation on Rafale would create tremors.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
Bad loans continue to originate mainly from state-owned banks, where the top management's responsibility is not linked to career prospects nor has legal consequences, says Debashis Basu.
'The entire government-owned banking system (excluding SBI) is now in the red.' 'But worse is to come,' warns T N Ninan.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
RBI says haste in easing norms for banks harmful to economy.
According to Fitch, the scheme could open a window for banks to build capital buffers while putting off full recognition of COVID-19 pandemic's impact on loan portfolios, but is reminiscent of a strategy adopted over 2010-2016 that delayed and exacerbated problems for banks.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
There were more than three losers against every gainer on BSE
'One of the ways to do that is to ensure that NBFCs have got liquidity.' 'If we don't do that, this mood of gloom will continue.' NBFCs need to be provided with liquidity if they have to start lending.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
If the states do not chip in with better governance procedures in the setting up of new businesses, providing electricity connections, enforcing contracts, issuing construction permits or registering property, there is little the Centre can do on its own to quickly move India up the index on ease of doing business, says A K Bhattacharya.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
The Essar group hinted at challenging the verdict, citing last week's Supreme Court order that upheld the August 2018 amendment to the IBC law.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Rooms at this Kolkata hotel are priced between Rs 7,000-8,000 per night. Gateway is a full-service upscale hospitality brand under the Taj Group of Hotels.
'Good economics isn't necessarily bad politics, or vice versa,' says Shekhar Gupta.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
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