The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
Apart from their competence, questions need to be asked about whether credit rating firms can be unbiased about a client who pays them.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
The prospects of India becoming a credible manufacturer of defence platforms or major weapon systems for export are remote, says Vice Admiral Premvir Das (retd).
Instead of the minority stake they held earlier, now they have controlling stake in many firms
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.
Jindal Steel and Power and JSW Steel, are in competing talks to buy parts of insolvent Italian steelmaker Lucchini.
At the heart of the bidding war is the firm's edible oil refining capacity
Verdicts paving the way for construction of a Ram Temple at Ayodhya and India's multi-billion dollar Rafale fighter jet deal with France were 2019's landmark imprints of the Supreme Court, which also found itself at the centre of a controversy with then Chief Justice of India Ranjan Gogoi being accused of sexual harassment before getting the clean chit.
RBI says haste in easing norms for banks harmful to economy.
IMF believes it is mostly cyclical, not structural, but because of the financial sector issues, recovery will be not be quick. IMF said, it saw an opportunity with the strong mandate of the new government to reinvigorate the reform agenda to boost inclusive and sustainable growth.
Former Chief Justice of India Rajendra Mal Lodha, who recommended overhaul of the cricket governance in India, said things would move fast in the Board of Control for Cricket in India after the newly-appointed administrators take charge of the Cricket Board after January 19.
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.
Switching to a damage-control mode, bankers and government officials claimed that Jet Airways wouldn't fall even if Etihad refuses to back the resolution plan and exits.
Many defaults banks have been seen pertain to sectors like steel, infrastructure and power.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
A round-up Wednesday's football news on and off the field.
On resolution of stressed cases, she said ICICI Bank has been taking the lead in several cases and was the first bank to refer a case to NCLT
The session of Rajya Sabha came to an end on Friday after passing 12 bills and wasting 19 hours due to disruptions over various issues like imposition of President's rule in Uttarakhand and AgustaWestland helicopter deal controversy.
In 2015, India was originally placed at 142nd position.
UltraTech currently has 19% market share with Shree Cement commanding 22% of the market
Once a stock market darling, the jewellery chain heads for liquidation.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
Of the 40 CEOs polled from across the country, 60 per cent identified a fractured electoral mandate as a bigger risk than trade wars, volatile oil prices, and inflation.
'If India can only grow at 5%, why bother spending time on the country?' asks Akash Prakash.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
The government last year introduced the Insolvency and Bankruptcy Code.
Priorities include the amendments of the Companies Act and the Motor Vehicle Act
'Invest a part of your portfolio in a global currency that can't be printed, or meddled with -- gold,' suggests Chirag Mehta.
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
Bids to be evaluated according to guidelines by the civil aviation ministry, following which a buyer will be selected. Transfer of control to the buyer to be effected by June-end.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
Srei Infrastructure's vice-chairman -- and former Assocham president -- Sunil Kanoria discusses the Kanoria businesses and his impression of the Modi government with Ishita Ayan Dutt and Namrata Acharya.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
'A close relationship between India Inc and the government cannot help the BJP win elections.' 'While Opposition parties may feel good about Mr Bajaj criticising the Modi regime, the BJP should be seeing the indictment as a political boon,' says A K Bhattacharya.
Some measures announced in Indradhanush -- a 7-point Modi plan to revamp State-owned banks but not completed -- may be taken up again.
'There has been far too much overconfidence about the size and composition of the Indian consumer economy,' notes Mihir S Sharma.
Tata AutoComp Systems Ltd on Wednesday said it would acquire the business and assets of Wundsch Weidinger, a German automotive components supplier, for an undisclosed sum.
Revenues from IT services segment, which accounts for a significant portion of the company's topline, stood at $2.013 billion, remaining flat sequentially and up by 5.8 per cent year-on-year.
