Even existing cases might come under the proposed law, including those of Vijay Mallya, Nirav Modi and Mehul Choski. But, the law would not cover earlier cases.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
Some say the MPC will raise the rate, while others are of the view that there is already de facto interest rate tightening through rising bond yields, which might prompt the central bank to go for a pause.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
'For the RBI, for a central bank, reputational risk is the worst risk.' 'Credibility is the worst risk,'
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
Seeking to wriggle out of the FATF's grey list, Pakistan has imposed tough financial sanctions on 88 banned terror groups and their leaders, including Hafiz Saeed, Masood Azhar and Dawood Ibrahim, by ordering the seizure of all of their properties and freezing of bank accounts, a media report said.
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
Sena said many banking frauds have come to fore during the Modi regime.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
'This encourages escapism through the politics and economics of nationalism, made worse by tribalism or nativism, the package accompanied inevitably by the erosion of institutional bulwarks and therefore State capture by powerful businessmen,' notes T N Ninan.
There is a sharp difference between the total remuneration paid at the public sector and private sector entities
'All regulatory agencies must be made Constitutional bodies like the Election Commission, the Supreme Court, and the CAG.' 'That way they will become independent of the minister,' recommends T C A Srinivasa-Raghavan.
Months before 8/11, MP, Haryana probed note ban
The continuing fiscal stimulus is heavily tilted towards capex, to the extent that it chips away a part of revenue spending. Accounting for other areas of revenue expenditure, such as salaries, pensions, subsidies and defence (committed spend), the room to spend on welfare schemes, health and education will narrow in FY22.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
Senior bureaucrats say the government has planned a 'feel-good' Budget after the 'pain' of demonetisation.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
He said this in Parliament rebutting reports last month, which quoted the Swiss National Bank, the country's central bank, as saying in its annual report that Indian deposits had risen by 50 per cent in 2017.
Officials said the government had no option but to cut spending.
'This will have a multiplier effect in generating more jobs.'
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
'A buoyant market economy is one which is led by the innovation and imagination of private persons,' notes Ajay Shah.
Opposing the government's move to merge the country's oldest financial institution with Punjab National Bank, IFCI's employees union on Wednesday proposed a mega merger of IFCI, IDBI, IIBI and IDFC.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
"The rule of law is under attack. History shall never forgive our present generation if the situation is not changed," the former PM said.
The BJP's manifesto speaks about the Prime Minister's vision of making 'Atmanirbhar Bihar'.
The Industrial Finance Corporation of India is likely to be merged with the Punjab National Bank or the Bank of Baroda and a final decision is expected to be taken shortly.
The implementation of the NEP and four-year undergraduate programme were approved by the Standing Committee on Academic Matters and the Academic Council last week.
India's economy is not like Western ones, and thus needs restrained fiscal policy even during a recession, says Ajay Shah.
A way out of the economic slump is to revisit the template of 15 years ago and follow its constituents, recommends Ajay Shah.
'Trading is about psychology; 75% of it is about keeping your emotions in check.'
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
What is killing the risk appetite of the bond buyers is the inconsistency in the central bank's approach. It needs to allow the yield to find its own level, gradually. To ensure that, the RBI may adopt a similar approach with which it handles a slipping rupee, asserts Tamal Bandyopadhyay.
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
The ripples from November 8 may be seen in next year's state budgets.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances