RBI has cited at least 10 areas where it has no control over PSBs.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
The BRICS stressed on resolution of conflicts in a declaration issued after a virtual meeting of foreign ministers of the member nations of the grouping. The meeting was attended by External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
Over 5 million alumni from the Indian Institutes of Technology, Mumbai University and Institute of Chemical Technology, Mumbai, plan to raise Rs 21,000 crore to start the world's largest infection testing lab in Mumbai.
The IMF targets to sell about 403.3 metric tonnes of gold to shore up its finances so that it can lend money to the poorest countries at concessional rates.
Bibek Debroy raised seven questions about the new institution.
Markets have gone into a tailspin, the Modi govt must revive investment sentiment.
The data is expected to form the basis for policy decisions such as rationalising stamp duty, capital gains tax, municipal tax and determining mortgage rates.
'Information highways are getting stronger and being strengthened.' 'Occasionally, accidents could occur. But do you stop constructing highways because two motor cars collide?'
But sources said the airline had already executed a sale and leaseback agreement for old aircraft, adding, "Air India is also looking at similar agreements for brand new aircraft."
With this, multilateral lenders like the International Monetary Fund, the World Bank and the European Union may continue downgrading Pakistan, making its financial situation more precarious.
The three main regulators have different approaches to grievance redressal and different standards to stop harmful from coming pitched at the consumer.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
That's all it takes to protect an institution -- just one person with no past and no greed for the future, says Shekhar Gupta.
Asian shares ended higher after a string of positive US economic data.
The Modi government has handled inflation far better than any government in the past two decades. Both the stock market and currency indices have begun to show confidence in the economy, despite the mounting global headwinds of trade.
UN economists announced a likely USD 50 billion drop in the worldwide manufacturing exports in February alone as the extent of the damage to the global economy caused by the novel coronavirus (COVID-19) moved further into focus. Citing the China Manufacturing Purchasing Manager's Index (PMI), Pamela Coke-Hamilton, who heads UNCTAD's Division on International Trade and Commodities, said that it had fallen to 37.5 -- a drop of about 20 points -- the lowest reading since 2004. "This also correlates directly to exports and also implies a two per cent drop in overall exports," she said, with a resulting "ripple effect" worldwide "to the tune of a USD 50 billion fall in exports."
A major criticism of the new law is that it can become an instrument of abuse as it confers the tax enforcement authorities with strong discretionary powers, says Paranjoy Guha Thakurta.
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
Admittedly, EVMs too have a UID number and any convergence of data can make the secret ballot system a party of history, warns Dr Gopal Krishna in the 5th part of his series against Aadhaar.
What is required from government is intellectual framework.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
'...Unless we muck up our policies.' 'We have to become a modernised economy.' 'Our institutions should be stronger. And that is most important.' 'The rule of law should prevail and contracts should be enforced.' 'Above all, we have to recognise the importance of globalisation.' 'It is in our favour at this stage. We should grow and become globally competitive.'
Prime Minister Narendra Modi leaves for Brazil on Sunday for attending the five-nation summit of BRICS nations on July 14 and 15 which is expected to finalise the setting up of a development bank and seek reforms of the United Nations and international financial organisations.
'Four weeks have passed after the scam was exposed, yet no big guy has been arrested.' 'This gives the impression that he wants to be soft on the biggies.'
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
'However, this time it looks like that is not working.'
In the broader market, the S&P BSE Midcap ended 0.1% down, while the S&P BSE Smallcap index gained 0.3%.
Lupin was the top gainer after the USFDA cleared its Goa facility
Budget in the medium term aims to kick-start the investment cycle.
'The quick fixes have failed; there is now no alternative to deeper reforms,' says Ajay Shah.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
With 600-700 new NPA cases getting admitted into NCLT every month, the demand for resolution professionals is on the rise with their number more than doubling in less than a year.
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
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