ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
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.
The sentiment in the real estate industry turned optimistic during October-December 2020 and the outlook for the next six months is positive on the back of revival in demand for both residential and office properties, according to a survey by Knight Frank India-FICCI-Naredco. The 27th edition of 'Real Estate Sentiment Index Q4 2020 survey' of developers, banks, financial institutions and private equity players operating in the sector was released on Monday in a video-conference. As per the report, the 'Current Sentiments Score', for the first time in 2020, entered the optimistic zone at 54 points in Q4 (October-December) 2020, a significant jump of 14 points over the previous quarter.
'I've always wanted to be a pilot; setting records is the icing on the cake.'
There is ample fuel in the computer revolution to do many useful things.
This survey also shows how things have moved forward since the last large-scale sample survey conducted by NSSO in 2012-13
Tamil Nadu, the best-performing state, managed to do this in 63 days. Land allotment took 156 days nationally and 28 days in Himachal Pradesh. Environmental approval took 91 days nationally and 25 days in Chhattisgarh.
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.
Based on a feedback, the exchange could cap a sector's weight at 25 per cent, or align with the broader market.
PwC one of the big four audit firms, has expressed disappointment at the conviction of two former partners in the Satyam scam.
As per the mega consolidation plan, Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following this merger, PNB will become second largest after the SBI, Canara Bank fourth, Union Bank of India fifth and Indian Bank seventh biggest public sector lender.
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
While seven companies bagged orders worth Rs 42,000 crore, industry experts said most of this new order activity was a spillover, and fresh project finalisation remains weak.
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
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.
Raghuram Rajan optimistic about passage of GST
Lukewarm response from private investors and turf battles between government agencies have resulted in delaying Modi's ambitions. Sahil Makkar reports.
After allowing FDI by foreign carriers in their Indian counterparts, the government has put in place provisions to prevent Indian airlines from being controlled and managed by the foreign investor.
Russia and China are tight-fisted and Iran is broke and none of them has the political will or capacity to bankroll the Afghan economy, which only the US can, points out Ambassador M K Bhadrakumar.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
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.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
We are in this mess as the machinery of the government in a market economy is broken. We need technically sound banking regulation, so that capital is not misallocated, and the landscape does not get littered with zombie firms kept alive through evergreening, says Ajay Shah.
The initiative is being called lateral recruitment to senior positions in the government.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
"Fitch Ratings has placed Punjab National Bank's (PNB) Viability Rating of 'bb' on Rating Watch Negative (RWN), following the large fraud reported by PNB," the US-based agency said in a statement.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
The Reserve Bank of India on Monday directed all banks and financial institutions to provide information and documents sought by the Special Investigation Team (SIT) set up to unearth black money.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
'Clearly, the depositors of cooperative banks need the maximum protection.'
'It will take a long time for people's memory to be misled by a prime minister who is so arrogant and who refuses to acknowledge his own faults.'
The year gone by has also forced all airlines to turn the lens sharply on their own costs, workings and internal dynamics, opening their eyes to their vulnerabilities. Fewer, leaner, nimbler players will emerge from the carnage.
'It shows that they cannot manage the situation with the forces in their hand.'
'The RBI is something like a seat belt. As a driver, the driver being the government, it has the possibility of not putting on a seat belt but of course if you do not put on your seat belt you get into an accident and the accident can be quite severe,' Raghuram Rajan told CNBC TV18. 'The aim of the board is to be Rahul Dravid -- sensible, thoughtful and not, with due respect, Navjot Sidhu,' he added.
The temporary ban begins on Monday and applies to any travellers who have visited India within 14 days of their intended arrival date in Australia.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The institute's incubation cell claims the start up mortality rate in the incubators are lowest.
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.
Singh asserted that the domestic challenges of India's economy were daunting in their complexity and devastating in their impact on the society.
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