The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
Kingfisher Airlines, National Aviation Company of India Limited -- the state-owned company that runs Air India -- and Indigo could face additional cost pressures, with reinsurance rates expected to harden following the accident involving the Air France aircraft that was flying from Rio de Janeiro to Paris with 228 passengers on board.
Bank of India will soon launch online trading facility for the customers, enabling them to make investments in the equity market.
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
Workers being laid off will be entitled to full wages of 45 days for every year of service.
A total of 25 companies raised Rs 28,220 crore during the financial year.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Control over PSU banks is what is allowing the government to drive this scheme.
Through rights issue, a firm allows existing shareholders a right to buy additional shares in the company at a specific price.
Officials said Sebi first proposed to the FinMin to amend the relevant provisions in the Sebi Act to discontinue RBI's representation on its board, as it already has adequate presence of government nominees and in its over 25 years of existence the regulator has evolved as an "effective and one of the best in the world".
UTI Asset Management Company will float an initial public offer by March-end 2008 to help its sponsors State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda -- offload up to 50 per cent stake.
For most companies this would mean extending medical coverage to same-sex partners, say legal experts.
Government planning to slash the number of days required to start a business in Mumbai, Delhi from the current 26.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
Sector-wise, oil & gas witnessed monthly growth of 30 per cent in hiring while insurance sector registered an increase of 25 per cent compared to September.
Opposition party is unlikely to block Bills for GST, insurance and e-auction of coal mines.
At $2.6 trillion, the Indian economy is currently ranked sixth in the world behind the US, China, Japan, Germany and the UK.
Even though the powers of the board of directors stand suspended once a company's insolvency process begins, it does not absolve the directors from actions taken up to two years earlier.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
The new drugs to come under price control include commonly-used antibiotics and painkillers
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.
The agreement was reached in intensive negotiations between contact groups that Obama and Modi had set up in September.
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
Not all change is good, but this one is, applauds Shekhar Gupta.
Five key capital market announcements from the previous Budget.
Will it trigger a social and management revolution as well, asks Ajit Balakrishnan.
With the help of Practo Ray, doctors can share reports.
'More than 900 companies believe that the majority of their employees worry about AI's role in potential job losses.' 'It makes employees anxious about working with machines or AI applications and fuels resistance to change,' says a Capgemini report.
The announcement comes on the first anniversary of the project.
Industry fears tougher US stance on IP after President Donald Trump asserted that foreign countries must pay a fair share for drug development costs. Aneesh Phadnis reports.
"In India, the sector will grow to $10 billion by 2018," predicts Vishal Bali, co-founder, Medwell Ventures, in an interview with Apurva Venkat.
The government wants to reduce the rate of contribution - part of the employee's share - for a class of workers depending upon age, income or gender, without changing the contribution from the employer's share.
"There are not sufficient number of applications received by the government. The extension in the last date has been given to allow more people to apply for the posts," a senior government official said.
Mudra Bank will be a Rs 20,000-crore institution, which would "primarily be responsible for refinancing all micro-finance institutions.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
The curious thing is that savings instruments have not really kept pace with changing needs, although people have access to a wider variety than before.
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