"In an unprecedented move, the ministry of defence (MoD) has decided to delegate substantial financial powers to the Armed Forces for undertaking works for perimeter security of sensitive military installations," the ministry said in a statement.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
Nancy Pelosi's gritty refusal to backtrack on her plans to visit Taiwan is part of who she is.
The authorisation to increase the weapon and ammunition reserves to minimum 15-I levels from the earlier existing 10-day stocking is to prepare the defence forces for a two-front war with both China and Pakistan.
In the wake of the brutal assault on a woman in an unguarded ATM in Bangalore, the Finance Ministry said it has asked all banks to strictly follow the RBI's instructions on security at these outlets and comply with instructions issued by state governments.
Following his resignation, the Finance Ministry has appointed Joint Secretary Anup Wadhawan as Chairman of the PFRDA.
Led by state-run banks, the system has opened over 5 crore (50 million) accounts under the Jan Dhan scheme as of September 25 and the deposits collected through the scheme have crossed Rs 3,500 crore, Financial Services Secretary GS Sandhu told the annual meeting of the Indo-American Chamber.
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
The Government also defended the President's decision to enforce a state of emergency, that had given him sweeping authority to act in the interests of public security and preserving public order, including suspending any laws, authorising detentions and seizing property, saying it was declared after attempts were made to attack the President's Office and other public property.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
The Cabinet, chaired by Prime Minister Narendra Modi, allowed contractors to move to the new, speedier arbitration process, approved the release of 75 per cent of the amount in dispute against bank guarantees and provided for a conciliation board comprising independent domain experts in new contracts.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
The Aam Aadmi Party has demanded the dismissal of Telecom Minister Ravi Shankar Prasad alleging a conflict of interest that has prevented him from issuing a notice to Mukesh Ambani's Reliance Jio on the 4G issue, a charge vehemently denied by Prasad who said he never gave advice or appeared for the company.
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Railway Board Chairman Arunendra Kumar said the discussions at the day-long meet involved an overview of five models of participative policy, framework of engineering, procurement and construction contracts and sectoral guidelines for foreign and domestic investment.
Inflation in food articles, fuel and power contracted in July.
The plan includes step-wise expansion of a crucial credit guarantee net, establishment of an unprecedented number of functional clusters and increased government procurement from MSMEs.
The trains will, however, only carry essential services personnel identified by the State government.
Experts believe that the government needs more innovative ways to secure the cyber space in the country and a cess is more like a punishment which would not help in the long run.
The air quality in the capital has remained very poor or severe on most of the days in November so far.
The Finance Ministry is considering a proposal to set up a National Asset Management Company that may act as a nodal agency for taking over bad loans of banks and help revive sick units.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
Mann stares at a twin-headed monster: Resuscitating the state's debilitated public-sector enterprises and controlling the spiralling debt to keep the state machinery and his poll-fuelled populist schemes running.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
The intial round of efforts did not achieve the objectives fully.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
The background work of creating a suitable digital architecture of a website also remains unfinished as it has been a challenge to shortlist technology partners.
Sanjay Bhandari, an accused arms dealer wanted in India on money laundering and tax evasion charges, is pursuing a separate legal battle of his own in France over an alleged unpaid cut from a large Indian defence contract dating back over 10 years, according to a UK media report.
The Centre on Tuesday promised to take action on the report of a fact-finding team which claimed that there were 15,000 incidents of post-poll violence in West Bengal in which 25 people were killed and 7,000 women were molested.
The significant changes include devolution of powers within the ministry and the service headquarters and concurrent running of the acquisition process.
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
In a bid to support revival of sectors hit most by the Covid-19 pandemic, Reserve Bank of India on Friday decided to open a separate liquidity window of Rs 15,000 crore for certain contact-intensive sectors like hotels and restaurants, tourism and aviation ancillary services.
Despite the equity booster, many would be uncomfortable about NPS.
Esha Wali, who is the vice president of technology at a Mumbai bank, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
"The bilaterals amidst the multilateral. PM @narendramodi meets Premier Li Kequiang of China for first engagement," External Affairs Ministry Spokesman Vikas Swarup tweeted.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
S&P has maintained a stable outlook on the basis of their expectation that over the next two years the growth will remain strong and India will maintain its sound net external position and fiscal deficit will remain elevated but broadly in line with their forecast.
The guidelines listed several services including government and private offices that will be out of bounds during the period, while exempting establishments such as hospitals, ration shops, dairies, banks, insurance offices, and print and electronic media. Delivery of all essential goods including food, pharmaceuticals, medical equipment through e-commerce has also been exempted from the purview of the lockdown.
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.
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