The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
Following the AMFI approval, these entities would be given the clearance by CDSL Ventures Ltd, the nodal agency for MIN issuances.
Padmini Rout is well-placed along with four foreigners atop of the points' table after seven rounds in the LIC World Junior Chess Championships, being played at Hotel Hyatt, in Pune. With six rounds left in the tough 13-round Swiss league event, the players in both sections are tightly bunched, making the hunt for the title quite open.
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
Tax deduction limit up Rs 50K for investment in pension fund.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
State Bank of India plans to open its office in Dubai International Finance Centre in a few weeks, a move which will boost India's largest bank's presence in the Gulf region.
High fiscal deficits raise inflation which hits the lowest income and salaried classes.
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.
Barclays Plc, UK's third-largest bank by assets, plans to enter the emerging credit card market in India.
As the government tabled insurance bill in the Parliament on Monday, trade unions of public sector firms called for a strike on Tuesday against the move that aims to raise FDI limit in the private insurers to 49 per cent and the minimum paid up capital in LIC to Rs 100 crore (Rs 1 billion).
Say cost of funds too high to lower lending rates.
A day after applying for a bank licence, Aditya Birla Group chairman Kumar Mangalam Birla on Wednesday said the new bank licence norms announced by the Reserve Bank are not discriminatory towards large corporate houses.
Multiple levels of integrations with the bank servers are required for enabling transactions.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
A host of them have a tracking error of more than 1 per cent
All in all, Cairn India shareholders are getting a 9.1 per cent premium based on closing prices of July 22
You can still save money, says Samkit Maniar
In the last few years, unit-linked insurance plans (Ulips) have quietly become one of the largest players in the Indian stock market. With a total investment estimated at Rs 1.5 lakh crore to Rs 2 lakh crore, they are almost close to the investment made by equity mutual funds.
Mutual fund houses are bullish on the financial sector, notwithstanding the recent beating at the stock market. Fund houses like Kotak Mahindra AMC, Sundaram BNP Paribas & LIC Mutual Fund have drawn up plans to introduce products aimed at the financial services sector. Bank stocks for long had been one of the favourite picks for many fund managers. There was a slowdown in valuations of financial sector stocks but Indian corporate entities still continue to remain attractive.
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
Several institutional investors were ineligible to invest in these companies as they failed to meet the disclosure norms
The court also dismissed petitions of his wife Pratibha Singh, son Vikramaditya Singh and another person.
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
UTI Asset Management Company will float an initial public offer by March-end 2008 to help its sponsors State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda -- offload up to 50 per cent stake.
Visa group will invest Rs 4,500 crore (Rs 45 billion) for setting up a 1000-MW mega thermal power plant in Orissa and also engage in all-India power trading, diversifying from steel.
The government on Friday cleared disinvestment in two bluechip state-owned companies IOC and Bhel, which would fetch over Rs 7,300 crore (Rs 73 billion) to the exchequer in the current fiscal.
The government will raise at least Rs 2,250 crore (Rs 22.5billion) for selling its residual stake in the country's top carmaker Maruti Udyog Ltd to banks and financial institutions, as it has fixed a floor price of Rs 760 a share.
In his book Restart, Mihir Sharma minces no words in pointing out that faulty policies, the lackadaisical attitude of bureaucrats and a few wrong decisions of past governments have hampered India's growth.
Of the 15 life insurance companies, just 10 make their portfolios available on their websites
The idea was that despite some defaults the high rates would assure good profits.
Under the scheme, which seeks to open 75 million accounts by January 26, 2015, an accident insurance cover of Rs 100,000 is provided with every RuPay debit card offered by the National Payments Corporation of India.
Life insurance sector in India grew by 41 per cent in 2005-06 due to better performance of country's largest life insurer, LIC, and private players like Bajaj Allianz and ICICI Prudential.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances