The Centre has to bear the maximum burden of borrowing NSSF loans to the tune of Rs 1 lakh crore.
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
Reports suggest state-owned banks have lapped up Rs 40,000 crore, so far, using both bonds and equity instruments. The question, though, is whether there will be a perceptional change for PSB stocks.
C S Ghosh, founder of Bandhan Bank, believes his unique business model is not comparable to any financial institution in India -- neither small finance banks, nor big private sector banks -- and hence the valuations are justified.
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
Bhushan submitted that his tweet about Chief Justice of India riding a motorbike was to underline his anguish at the non-physical functioning of the Supreme Court for last more than three months, with hardly any cases being heard.
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Kerry said this in a newspaper article co-authored by US Commerce Secretary Penny Pritzker.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
Prime Minister Narendra Modi on Saturday released Rs 20,946 crore to 10.09 crore farmers across India as the 10th installment of financial aid under the PM-KISAN scheme and said there was a need for innovation in agriculture along with promotion of natural farming. Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, a financial benefit of Rs 6,000 per year is provided to the eligible farmer families, payable in three equal installments of Rs 2,000. The PM-KISAN scheme was announced in the February 2019 Budget.
The post-crisis debate on capital account management focuses on matching instruments with vulnerabilities.
The ripples from November 8 may be seen in next year's state budgets.
At a virtual press conference to launch the report, Inger Anderson, Executive Director, United Nations Environment Programme, said, "Climate change is here and now. No one is safe. Despite warnings from so many years, the world did not listen. We need to act now. Reducing greenhouse gas emissions will not only limit climate change but also reduce air pollution."
The continuing fiscal stimulus is heavily tilted towards capex, to the extent that it chips away a part of revenue spending. Accounting for other areas of revenue expenditure, such as salaries, pensions, subsidies and defence (committed spend), the room to spend on welfare schemes, health and education will narrow in FY22.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
A PTI tally of figures announced by different states and union territories, as of 9.25 pm, showed a higher number of 1,76,792 confirmed cases and at least 5,100 deaths. It also showed nearly 86,000 recoveries and close to 85,700 active cases.
There was the mistaken belief that there was no risk of a second wave anytime soon.
Jai Bhim is a story of hope and despair, observes Utkarsh Mishra.
Free provision of food, cash transfers, and jobs in villages see enhanced flow of funds despite a precipitous fall in revenue. Till May, defence spend was nearly 30 per cent less than the previous year.
United Spirits had a tough time in recent past due to management related issues. Going ahead, corporate governance is a big challenge, say experts.
'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
Multiple organisations of different kinds with overlapping goals would be a dream situation for those who believe in competition and innovation.
Sarvjit Singh Samra's Capital Local Area Bank offers attractive features.
Industry experts estimate that demand for loans from the sector outstrips supply by more than $80 billion.
The Supreme Court on Friday stayed criminal proceedings against former chairman of Wipro, Azim Premji, and his wife on their plea seeking quashing of the summons issued by a Bengaluru trial court on a "frivolous"and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three firms with a Premji group firm. A bench of Justices Sanjya Kishan Kaul, Dinesh Maheshwari and Hrishikesh Roy also issued notice to an NGO, Indian Awake for Transparency and others and sought their response. Senior advocates Mukul Rohatgi, A M Singhvi appearing for Premji and others said that the complaint was "mischievous" in nature.
In an open letter to Zee's shareholders, Invesco, which holds a 7.74 per cent stake in the firm, reiterated its demand for an overhaul of the media group's board and that it would pursue extraordinary general meeting (EGM) to oust chief executive Punit Goenka and two other directors. Last month, Sony Group Corp's India unit signed a non-binding offer to buy Zee.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Modi is also likely to launch the Co-WIN (COVID Vaccine Intelligence Network) App, a digital platform created for real-time monitoring of COVID-19 vaccine delivery and distribution.
Deciding whether a whole life insurance plan is a smart option or not hinges on the financial situation of the insurance buyer
Education, jobs, health and more: Experts share their wishlist.
December 2022 could be the last Christmas for Santha Bakery, a business drawing its lineage from the first Christmas cake baked in Kerala.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
In view of the economic shock caused by the COVID-19 pandemic, Reserve Bank of India (RBI) on Friday asked scheduled commercial banks and co-operative banks not to make any dividends for the financial year ended March 2020. In view of the ongoing stress and the heightened uncertainty on account of the pandemic, RBI said it is imperative that banks continue to conserve capital to support the economy and absorb losses, if any. The decision is based on review of the September quarter financial performance of banks.
Ajit Balakrishnan offers a thinking man's guide to e-commerce controversies.
A group of public health experts, including doctors from All India Institute of Medical Sciences and members from the national taskforce on COVID-19, have said that mass, indiscriminate and incomplete vaccination can trigger emergence of mutant strains and recommended that there is no need to inoculate those who had documented coronavirus infection.
'The most important thing is that the psychological signal it is giving to the markets and international markets,' says former finance secretary Arvind Mayaram.
The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
According to a report by the Institute for Economics and Peace, an independent, think tank dedicated to shifting the world's focus to peace as a positive and tangible measure of progress, India ranks 143rd
