The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
As per the RBI Act, the central bank should have four deputy governors - two from within the ranks and one commercial banker and the fourth one an economist to head the monetary policy department.
The firm expects its recent equity infusion, debt refinancing and the compensatory rate to lead to a turnaround in its financial position.
Adani says the company would have a generation capacity of 6,000 Mw by 2011-12.
Adani Enterprises, the flagship company of the Adani Group, reported a profit after tax of Rs 557 crore for the first quarter ended June 30, 2014 on the back of a 43 per cent jump in revenue.
Bajaj Auto is planning to set up its fourth and largest plant near the Mundra port in Gujarat. The plant will also manufacture the long-awaited passenger car the company is developing with Nissan-Renault.
Outward flows totalled $12.27 billion in June 2010.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Adani says size of the balance sheet of the company will double after the acquisition.
The actor talks about his new film, his stint in politics and more.
The Environment Ministry had earlier this month termed as "incorrect" claims that Adani Port and SEZ was spared a hefty fine of Rs 200 crore.
Delhi Metro, Yamuna-expressway and Tata Power's Mundra ultra mega power project in Gujarat are among the six ventures that have figured in the list of world's most innovative, impactful infrastructure projects prepared by international accounting firm KPMG.
Coal India IPO has become a runaway success, beating all records to become the largest public issue in India.
'They are not called the President's National Awards for no reason.'
Nearly 750,000 tonnes of imported sugar are stuck at the Kandla and Mundra ports even as prices skyrocket in the domestic market. That's because the sugar importing mills in Uttar Pradesh have still not been able to arrive at an agreement on processing imported raw sugar by millers in Maharashtra and Gujarat.
In many cases, all that is required is a final letter from the ministry
As per the RBI Act, the central bank has to have four deputy governors.
Gujarat Chief Minister Narendra Modi wooed Indian auto giant Maruti Suzuki to set up a car project in Gujarat and said that the state government would provide all the facilities to it.
The Railways have developed new freight wagons which can transport cars efficiently and is planning to run them in routes with a good business potential.
Eyeing to become India's largest player in 2020 Adani Group plans to invest 70 per cent of its capital expenditure in clean energy and energy efficient systems.
The country's largest carmaker Maruti Suzuki India on Wednesday said its flagship export model, A-Star, has crossed one lakh-mark of overseas shipments in less than a year of selling the car in the global markets.
Concerned over banks hiding their actual NPA numbers, RBI Governor Raghuram Rajan on Tuesday said the central bank is "increasingly turning towards taking action" on such divergences.
In May last year, Peninsula forayed into the hospitality sector with a joint venture with textile maker and real estate developer, Arrow Webtex. The JV planned to build hotels in Mumbai, Pune, Nagpur, Nasik and Kolhapur in Maharashtra. There were also plans to develop hotels in Ahmedabad, Surat, Jamnagar, Mundra port, Goa and Kerala.
The debt resolution involves RCom exiting the SDR framework with no conversion of debt into equity and zero write-off by lenders, Anil Ambani said, adding that he expects full closure by March 2018.
Corporates understand that the PMO drives all key decisions in this government.
The Board of Approval (BoA) on Special Economic Zones (SEZs), the apex decision-making body for such tax-free industrial enclaves, today approved a proposal to amalgamate three separate zones, effectively lifting the 5,000-hectare limit on such zones that the government imposed in 2007.
Under the first six rounds of NELP, a total investment of $8.3 billion in exploration of oil and gas was committed, out of which about $4.5 billion has already been incurred on exploration and $1.4 billion on development of discoveries. A further $1.5 billion exploration spend is budgeted for NELP VII.
RIL will initially start gas production from eight wells, with an initial output likely to be 5 mmscmd (million standard cubic metres) per day. Bombay high court had last week allowed Reliance to sell gas from KG-D6 at $4.20 per million British thermal units in accordance with the government's gas utilisation policy, which gives priority to fertiliser units followed by existing power plants.
For the first time since its inception in 2006, the Board of Approval on special economic zones in its next meeting in March will take up a proposal from a developer to merge these tax-free industrial enclaves for exports.
The World Bank will give a loan of $1 billion (about Rs 5,000 crore) to power transmission company PGCIL this year for developing infrastructure in the sector.
Filmmaker Jagmohan Mundhra talks about his biopic on Sonia Gandhi and other forthcoming movies.
"The textile industry is dying and requires increased help from banks," Ram Krishna Mundra of Mahendra Tora Pvt Ltd said on November 26. Power loom owners and weavers have been hit hard during the recent times. "The textile industry should be given an electricity duty subsidy to overcome the current crisis," he demanded. Vimal Ambani, president-Gujarat chapter, CII, said a unified national tax structure was needed to strengthen the industry.
For a direct indication of the premium attached to efficiently-run ports in India, one need look no further than the recent stock market listing of Mundra Port and Special Economic Zone.
Tata Power Company, which is developing India's first 4,000 mw ultra mega power project in Mundra signed on Wednesday contracts reportedly worth $1 billion with Korea's Doosan Heavy Industries & Construction Company.
Samir Kochhar, the actor who made Emraan Hashmi's character miserable in the movie, is back with Jag Mohan Mundra's Chase.
A delegation from Russia is in India now to authorise some laboratories to certify the quality of the commodities exported to Russia. The delegation is visiting various labs and processing units from various parts of the country, including Mundra port. Russia had banned export of groundnut and sesame seed from India on May 1 this year on the basis of quality parameters of a single consignment.
The proposed Krishnapatnam ultra mega power project - the third 4,000 Mw project to go under the government's hammer - has attracted just three bids from Sterlite, Reliance Power and Larsen & Toubro, though there were nine qualified bidders for the project.Those who have not bid after expressing an interest include Essar Power, NTPC, Japan's Sumitomo Corporation, China Light and Power (with GMR) Israel Electric Company (with DS Construction) and Tata Power.
Power Finance Corporation, the nodal agency for ultra mega power projects, has extended the last date for accepting bids for Krishnapatnam project to October 24, sources said. Essar Power, Sterlite Industries, Larsen and Toubro, D S Construction, Japan's Sumitomo Corp and CLP-GMR combine are other companies believed to be in the qualified bidders list.
In the current financial year, TPC has planned capital expenditure of Rs 2,670 crore for their projects in Trombay, Haldia and in adding capacity to their wind power and digiset generating systems.
Adani Group-led by billionaire Gautam Adani on Thursday pledged to invest Rs 20,000 crore in Madhya Pradesh during the next five years in various projects.
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