The country's largest insurer Life Insurance Corporation will get about Rs 280 crore (Rs 2.8 billion) from the government for hiking its capital base and carrying out expansion.
The payments industry is at a crossroads with the banking regulator on two pressing issues, neither of which seems headed towards an amicable solution. Depending upon which side accommodates the other, customers in India will have to choose between convenience and ironclad safety. In the end, the Reserve Bank of India (RBI), which regulates both banks and all payments services providers, will prevail. But the question is: will it do so by bending a little or by sticking to its firm stand? The two issues - one concerning payment facilitators storing customers' card details and the other about auto-renewal of payments - appear similar but aren't.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
The negotiations started on Sunday, a day ahead of schedule.
Chidambaram said it was a 'despicable slur' on the six secretaries of the government.
The ministries of finance and civil aviation have considered a proposal to involve financial institutions to issue additional equity to reduce government stake in the airlines.
The first signs of growing bonhomie between Modi and Rajan came early last year, when Modi called Rajan the "best teacher" for explaining complex economic issues to him.
Finance Ministr Arun Jaitley will have to do a balancing act to manage fiscal prudence.
Surging global crude oil prices failed to shore up customs revenue substantially as India Inc resorted to advance licence scheme, which allows duty-free imports for value-added exports.
Modi govt faces extra spending burden due to policies like 7th Pay Commission and OROP
The divestment department has proposed that public sector units involved in mining ores alone should qualify for 'natural asset' status while imposing additional norms concering employment of labour.\n\n\n\n
However, the road to profitability has already hit some hurdles for the Delhi-based bank as the Union government has rejected its demand for an additional capital infusion of around Rs 8,000 crore in 2018-19
The governance reforms, as an official put it, would bring in measures to track the performance of the executive-rank employees of the banks, intensively.
Hours after 21 ministers took the oath of office and became a part of Prime Minister Narendra Modi's ministry, speculation began on which minister would be handed which portfolio. However, all speculation ended after the list was announced.
Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks, warns Ajay Shah.
This is the first tranche of capital infusion for the fiscal and more funds would be provided in future depending upon the performance of PSU banks.
The notes argue that it will widen the talent base available to govt to deliver increasingly complex services to a demanding population.
Seen as a major initiative, the 'strategic partnership model' aims to create a vibrant defence manufacturing ecosystem in the country through involvement of both the major Indian corporates as well as the MSME sector.
Banks shall not charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1,000, the order said.
Meet the civil servant who will take Prime Minister Modi's plans for education to another level.
The finance minister may stagger some of the recommendations.
Politically, it will not be easy for Modi to take hard decisions such as raising fuel prices in the first budget, given the risk of higher inflation.
The country's new economic roadmap highlights the importance of creating a virtuous cycle of investment, savings and exports in order to sustain rapid economic growth over the next five years.
The ministry seeks to make lending requirements flexible for banks financing key stalled projects.
The two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
The Directorate General of Civil Aviation has been asked to open up bookings of SpiceJet till March 31, 2015, while airport operators have been asked to provide 15 days to the airline company for making payments.
About 1 million bank officers are expected to participate in the strike on May 30 and May 31
