Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Each of the larger states may need less than Rs 10,000 crore each to finance the exercise.
The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
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.
I-T heat on thousands of firms for unusual cash deposits.
Modi also announced Rs 2 lakh aid to the kin of those who died in the deluge.
Third time lucky is an apt phrase to describe the remarkable rise of Joe Biden, a veteran in US politics for around five decades, from being one of the youngest senators in history to the oldest American president-to-be.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The COVID-19 pandemic and the ensuing restrictions in mobility may result in a 75 per cent reduction in the budgetary allocation for foreign travel in FY22, a senior finance ministry official said. The government will cut "frivolous expenditure" when all the activities are going on in the virtual mode, joint secretary in the ministry of finance, Madnesh Kumar Mishra, said in an event organised by XLRI. It can be noted that the budget for the next fiscal is under preparations right now and officials are also having discussions internally and also with external stakeholders for suggestions.
One should appreciate the sagacity and audacity of JRD and Nani Palkhivala in founding TCS on April 1, 1968. At that time there was no Microsoft or Intel, SAP or Accenture, much less Google.
They needed a person who could build and execute their vision: A frontiersman; a problem solver and an institution builder. It was their and India's good fortune that Faqir Chand Kohli more than measured up to their requirements and indeed laid the foundation to take TCS to unimaginable heights and to the giant success that it is today. Shivanand Kanavi salutes the incomparable F C Kohli, who passed into the ages last week.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
Our government has failed the country on several counts. All this must change for India to redeem itself in six months, says Naushad Forbes.
An ex gratia of Rs 2 lakh will be given per person to the next of kin of those killed in the floods.
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
Investing in special situations can help you tap opportunities that arise during adverse conditions, advises Joydeep Sen.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The vigilance department of the Insurance Regulatory and Development Authority is looking into such complaints in Rajiv Gandhi Shilpi Swasthya Bima Yojana, Weather Insurance Scheme, Shetkari Apghati Durghatana Bima Yojana and Panjikrut Kishan Durghatana Bima Yojana, according to a letter written by IRDA to Finance Ministry on its ongoing probe.
Apollo Hospitals group is open to investing in health care start-ups says its director Sangita Reddy.
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.
He said it was not only a tax reform but 'is a measure that lends strength to the new culture of honesty'.
More than 1,000 independent directors have quit since January 2017; more could be on their way out
When the sun rises in 2022, the Indian hospitality industry will be waking up with prayers for survival, desperately looking forward to some form of support from the government as revival from the impact of the coronavirus pandemic of the last two years will be an arduous journey. Just as the industry was beginning to see a flickering light at the end of a long tunnel towards the end of 2021, the spread of the Omicron variant of coronavirus and subsequent extension of suspension of scheduled international passenger flights till January 31, 2022, has come as a dampener to those who were looking to have some business in the winter season. With inbound tourist arrivals unlikely amidst the pandemic, the industry wants the government to incentivise domestic travels with income tax benefits for a limited period so as to help the hospitality and tourism sector get up again by tapping the pent up demand for holidays, within the country.
The move will establish a level-playing field for domestic investments in start-ups compared to foreign-based sources.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
Under the Companies Act, all the rights of at least 300,000 disqualified directors cease to have any validity.
Bonuses are typically commensurate with deal activity in any given year. Investment banks, on average, pocket 2-3 per cent as fees for managing an IPO and 1.5-2 per cent for handling QIPs.
Market regulator Securities and Exchange Board on Tuesday called for reforms in the underlying market and said regular issuance of government bonds across maturities can go a long way in achieving this by way of increasing liquidity.
The IIT-Madras alumnus, who moved to Canada for an MBA programme and settled there, is not new to investing in India.
The onus is on you to reject financial products that don't suit your needs.
The commission said its agents are more interested in making a quick buck by getting more policies for the company and they show scant regard to the interest of the policy holder.
Assume the worst regarding how long your unemployment could last and make conserving cash your topmost priority, suggests Sanjay Kumar Singh.
Biggest ever share sale by any private or public sector co in India.
Some of the key proposals of the agenda relate to transforming the banking sector, addressing agrarian distress, countering hate crimes and discrimination, and spurring employment generation.
Around 81 per cent of the workers constitute the unorganised sector - devoid of any social security cover and outside the purview of a complex set of labour laws.
The vaccination rate needs to go up by three to four times, assert Ajay Shah and Amrita Agarwal.
'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'
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