The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
The remarks by Naidu in his last address as the country's Vice President came even as Telangana's ruling Telangana Rashtra Samithi RS said the welfare of poorer sections of society is not a freebie and that welfare measures taken by governments should continue.
The Union Cabinet has approved amendments to the General Insurance Business (Nationalisation) Act, paving the way for privatisation of government-owned insurers. The amendments, approved by Cabinet, will remove the clause for the Centre to hold at least 51 per cent in public sector insurance companies at any given time. It will also have an enabling provision for the transfer of management control from the government to the potential buyer of the public sector insurance company. The finance ministry will move amendments to the insurance Act in the ongoing Parliament session.
Nepalese rescuers resumed their search on Monday for four persons still missing after a passenger plane with 72 people, including five Indians, crashed into a river gorge while landing at the newly-opened airport in the resort city of Pokhara, killing at least 68 people onboard.
Former Prime Minister Benjamin Netanyahu led right-wing bloc has secured an emphatic victory in Israel's general elections by claiming 64 out of the 120 seats in parliament, bringing the country's longest-serving premier back at the helm after a brief gap and also ending prolonged political instability.
While PM Narendra Modi-Amit Shah dominated the national executive, senior chief ministers and 'margdarshaks' LK Advani, Murli Manohar Joshi were ignored
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
ndependent of the political fallout, which Stalin has sought to arrest through the withdrawal of the measures as fast as they were introduced, there are concerns about the way those decisions came to be taken, without adequate application of mind, not in official terms but in political and electoral contexts, points out N Sathiya Moorthy.
Piramal Group on Thursday said the Reserve Bank is understood to have cleared the resolution plan for debt-ridden DHFL as approved by the Committee of Creditors (CoC). The CoC had approved a resolution plan submitted by a Piramal Group company, Piramal Capital and Housing Finance Limited, last month. "We understand that the RBI has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the CoC," Piramal Group said in a statement. The resolution plan was approved by the CoC in its 18th meeting concluded on January 15, 2021.
The key panel, which deals with issues related to national security and foreign affairs, is headed by the prime minister.
The PFI is alleged to have been continuously involved in anti-government propaganda and spreading the narrative that Muslims were being persecuted in India.
Three experts on cyber security, digital forensics, networks and hardware were roped in by the Supreme Court on Wednesday to "enquire, investigate and determine" whether Pegasus spyware was used for snooping on citizens and their probe would be monitored by former apex court judge R V Raveendran.
Finance secretary Rajiv Kumar was positive in formation of a committee consisting all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
Pakistan's Finance Minister Miftah Ismail on Monday said the government can consider importing vegetables and other edible items from India following the destruction of standing crops due to massive floods, three years after Islamabad downgraded trade ties with New Delhi over the Kashmir issue.
The Supreme Court Monday said no state should deny the ex-gratia compensation of Rs 50,000, as recommended by National Disaster Management Authority (NDMA), to the kin of persons who died of COVID-19 on the sole ground that death certificate does not mention it as the cause of death.
The Securities and Exchange Board of India's (Sebi's) technical advisory committee has been mandated to probe the trading halt at National Stock Exchange (NSE) and fix accountability. The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know. The panel, which is currently chaired by Ashok Jhunjhunwala of IIT Madras, is learnt to have sought an explanation over two key issues from NSE: One on the effectiveness of interoperability as it was unable to migrate the trading positions; the other on laxity in switching it to the disaster recovery site.
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
The Congress president also announced that a compact task force will be set up to drive the process of internal reforms that are essential.
The overwhelming feeling at the end of COP 27 was that despite decades of meetings and landmark accords, like the Paris Agreement, the world was still not doing enough to slow the climate crisis, observes Ambassador T P Sreenivasan.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
Although the Disaster Management Act for Covid containment measures, considered a hindrance in conducting the census, was withdrawn in March this year the Centre has not taken any further action on conducting the much-delayed population enumeration.
The citizens' register in Assam does not get to the bottom of things.
The two countries, among the very few fast growing large economies globally, also decided to boost bilateral trade and investment in areas of oil and gas, renewable energy, IT and pharmaceuticals, during talks between Prime Minister Narendra Modi and Indonesian President Joko Widodo.
There are lessons for the Congress to learn from the Karnataka elections of how burying the hatchet among top leaders and not washing dirty linen in public can help, says Ramesh Menon.
The rot is is not limited to Chitra Ramkrishna and the yogi, observed Debashis Basu.
Mortgage lender HDFC Ltd on Wednesday announced an increase in its benchmark lending rate by 5 basis points (bps), a move that will make loans dearer for both existing and new borrowers. This is the third hike effected by HDFC in the last one month. "HDFC increases its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, with effect from June 1, 2022," the housing finance company said in a statement.
Piramal Enterprises' bid for debt-ridden DHFL received the most votes from lenders at the close of the voting process on Friday, sources said. Piramal Enterprises' bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital. Voting was done on various parameters, including qualitative and quantitative.
'The entire value of LIC is created by its shareholders because after the initial invest net of Rs 5 crores in 1956, the government has not given any additional capital to the LIC.' 'If the corporation has expanded and emerged as the biggest financial institution in the country, it is only because of the policyholders.'
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
Netanyahu, who has won the backing of 64 Members of the Knesset (Israeli Parliament), has been assigned the task to form the next government, a statement from the Presidency said.
'What does the nation get out of the CBI's fabulous infrastructure? Very little that is useful.'
'At the heart of the strategic relationship between our countries are economic ties.'
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
BCCI President Anurag Thakur on Sunday made it clear that unlike his predecessor Shashank Manohar, he is not "interested" in any ICC post and his sole focus at present is to protect the rights of Indian cricket. Hinting at Manohar, Thakur said, "One who had to go to ICC have already gone long back. I have no interest and I am happy here with BCCI and nothing is more important for me than India. We have to protect the rights of India. If you don't think about India then it will be difficult to think about any other country. "Today there is India, so world cricket is growing," Thakur said.
Top security czars of India, Russia, Iran and five central Asian countries on Wednesday pledged to work for ensuring that Afghanistan does not become a safe haven for global terrorism and called for the formation of an open and truly inclusive government in Kabul.
'Rahul inspired Indian industry with an ethos, an ethos of being more confident, more independent, more thorough, more competitive, more generous, more public-spirited, and more national and more international all at once,' remembers Naushad Forbes.
