Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
A Delhi court Friday dismissed a plea seeking lodging of an FIR against Prime Minister Manmohan Singh and former Telecom Minister Dayanidhi Maran for their alleged role in the 2G case.
On his 45th birthday, Sukanya Verma offers a playlist of AB Baby's 10 grooviest tracks
Defending champions Mumbai Indians will start as firm favourites against bottom-placed SunRisers Hyderabad in the IPL match in Delhi on Tuesday.
His is the quintessential rags to riches tale of Thursday's Indian Premier League auction but 17-year-old Yashasvi Jaiswal, who once sold panipuri to make a living in Mumbai, considers the Rs 2.40 crore deal with Rajasthan Royals a once-in-a-lifetime learning opportunity. His well-documented struggles include living in a tent after coming to Mumbai from his native Uttar Pradesh as an 11-year-old.
Following the gruesome incident, Adityanath had announced a compensation of Rs 40 lakh for Singh's wife, Rs 10 lakh for his parents and a government job for a member of his family.
Mumbai Indians beat Sunrisers Hyderabad by 42 runs in their final league fixture in Abu Dhabi on Friday but still failed to qualify for the IPL play-offs.
The Indore bench of the Madhya Pradesh high court on Thursday asked Central Bureau of Investigation to probe the Treasure Island mall scam case, involving former chief minister Digvijaya Singh, and report back within six months.
The killing of Nitin Garg, a 21 year-old Indian student in Australia, has shocked his family members, who insist that the attack was racist in nature. Nitin Garg was stabbed to death at West Foorscray, a suburb of Melbourne.The news of his death has disturbed his family members, who live in Jagraon Township near Ludhiana city. Annsh Garg, Nitin's uncle, said that they would launch a protest against the Indian government, as well as the Australian government.
Sourabh will next face Korea's Heo Kwang Hee for a place in the men's singles final.
RCB will be strengthened further when the immensely-talented Devdutt Padikkal makes the team after his recovery from COVID-19.
Under its door-step delivery model, consumers can shop at any of the three Future Group-owned convenience formats - Easyday, Nilgiris and Heritage - both online or offline.
Several people had taken shelter under the recently constructed structure while it rained. The dead, all of them men, were mostly relatives or neighbours of Jai Ram, who was being cremated at that time, officials said.
The four ministers -- Tript Rajinder Singh Bajwa, Sukhbinder Singh Sarkaria, Sukhjinder Singh Randhawa and Charanjit Singh Channi -- and around two dozen legislators met in Chandigarh at the residence of Bajwa on Tuesday.
The India Under-19 team made it to the final despite losing to England U-19 by eight wickets via the Duckworth-Lewis method in a rain-hit youth one-day match of the Tri-Nation series.
The October 28 decision of the President rejecting the plea is based on an opinion rendered by the Election Commission, the poll panel said.
"It's a welcome development, but we also feel it was long overdue... It's a recognition of the actions that the government has undertaken like GST, bankruptcy. We also need to keep all these things in perspective," Chief Economic Adviser Arvind Subramanian said.
The weekend drew a deluge of celebrities to the Lakme Fashion Week. Rediff.com's Rajesh Karkera and Hitesh Harisinghani caught all the action.
The bonds will likely be simultaneously launched in major financial centres such as London, Singapore, Hong Kong, New York for a term of no less than 20 years.
Delhi Law Minister Jitender Singh Tomar on Thursday wrote a letter to Chief Minister Arvind Kejriwal over the controversy surrounding his law degree, and said the allegation of it being fake was "baseless" and intended to "malign" his image and that of the party.
'It is a ticking time bomb if the authorities don't come forward to help these hapless people.'
RR have a lot of issues to sort out, particularly in the absence of key foreign players like Jofra Archer and Ben Stokes.
The Delhi high court on wednesday asked the Central Bureau of Investigation to reply to Congress leader Sajjan Kumar's petition against a trial court's order which had dismissed his plea to let him use a 1984 anti-Sikh riots victim's statements to the judicial commissions in past to defend himself.
Rishabh Pant's brute power will be put to test against Rashid Khan's bagful of tricks in an IPL encounter where Delhi Capitals will start as favourites against SunRisers Hyderabad due to their better bowling resources.
Singh, who is serving a 20-year jail term after being convicted in two rape cases, has been charged along with doctors Pankaj Garg and M P Singh.
Rediff readers tell us how they're celebrating the festival.
A round-up of all the Ranji Trophy matches played on Friday.
A roundup of the Vijay Hazare Trophy one-day matches played on Friday.
Kane Williamson made the difference as he finished unbeaten on a splendid 50 from 44 balls, putting on an unbroken stand of 65 runs with Jason Holder (24) to steer Sunrisers to a hard-fought victory in a difficult run chase.
Former India captain Kapil Dev termed the unsavoury incident involving India and Bangladesh players after the ICC Under-19 World Cup final in Potchefstroom on Sunday as "horrible", saying cricket is no more a "gentleman's game". The 1983 World Cup-winning India captain urged the Board of Control for Cricket in India to take strong action against the erring cricketers to set an example.
Goa police on Wednesday said it has come to light that "bribe was paid" by a US firm for a water developmental project in the state.
AAP lashed out at "disgruntled" former party MLA Rajesh Garg saying there was nothing "illegal and immoral" being in touch with Congress MLAs.
Major automakers, including Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Kia, Toyota and Honda, on Thursday reported healthy growth in passenger vehicles sales in June, recovering from the disruptions induced by the second wave of COVID-19. The country's largest carmaker Maruti Suzuki India (MSI) posted total sales of 1,47,368 units in June, up from 46,555 units in May. Its domestic dispatches to dealers last month stood at 130,348 units, up from 35,293 units in May, as easing of COVID-related restrictions helped the auto major to dispatch more units to dealerships.
When the MPV carrying six personnel was around one km away from the camp, ultras triggered a powerful land mine blast, he said.
Auto majors, including Maruti Suzuki India, Hyundai and Tata Motors, on Sunday reported high double-digit growth in their domestic passenger vehicle sales in July riding on stabilisation of macro-economic factors and better consumer sentiments. Similarly, Honda, Nissan, MG Motor and Skoda also reported healthy growth in their sales last month leveraging on improved market mood amid prevailing lower coronavirus infection rate, despite supply constraints of semi-conductors. The country's largest carmaker Maruti Suzuki India's (MSI) domestic sales increased by 39 per cent to 1,41,238 units last month as against 1,01,307 units in July 2020, the company said in a statement.
The Director General of Health Services (DGHS) in the ministry of health, in a letter to the Principal Secretaries of health and medical education of states, said it has been observed that there is 'inappropriate use' of N-95 masks, particularly those with valved respirators, by the public other than designated health workers.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
In an online chat with Get Ahead readers on October 19, Ashish Garg, Director of Recruitment at Convergys Corporation in India, discussed how one can excel at a job interview. Here's the unedited chat transcript.
It's a 'shame' that Sunrisers Hyderabad could not make the IPL final believes batsman Kane Williamson but asserted that the side can take pride in its remarkable fightback to make the play-offs after the early struggle in the tournament.
