While Raghunathan is a named accused in the CBI's case registered in October last year, Nedungadi had resigned recently from the post of CFO of the UB group.
"Cash is still quite high in the system. There is also stocking of Rs 2,000 notes in evidence. The expansion of digital payments is taking place all over the world. It is happening in India as well. The pace is much slower," S C Garg, who took VRS from government service after he was abruptly shifted out of the finance ministry, said in a note.
However, it is noteworthy that foreign investors pumped in money on the day of election results as the mandate became clear
Banks have played a critical role in infrastructure financing.
'As an investor, I either have to exit my investments in the next three months or use dark pools or cash to transact. For a normal investor, it will be almost impossible to transact in bitcoin and other digital currencies.'
Cairn has already taken steps to have the arbitration award recognised in nine major jurisdictions such as the US, UK, France, the Netherlands, Singapore and Canada's Quebec province, where Indian sovereign assets have been identified. It hasn't said what it might go after but assets could include Air India's planes, vessels belonging to the Shipping Corporation of India and property owned by state banks.
The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
The national carrier has started approaching Indian banks and public sector undertakings for disposal of these properties including floorspace in prime locations.
Upgradation to the new product (from Infosys) will stabilise by this month-end
The total market capitalisation of BSE-listed companies fell by Rs 1.36 lakh crore to Rs 93.33 lakh crore.
A CBTR pertains to transfer of funds through various channels abroad.
The rise in bond yields would make it difficult for banks to pass on rate cuts as except for retail loans, most of their legacy portfolio are linked to marginal cost based lending rate, which takes into consideration bond yields.
Overseas investors, as well as other key stakeholders, such as brokers, custodians, and clearing corporations, are yet to iron out critical issues, even as the shift towards a shorter trade settlement cycle approaches new phases. Several industry players said foreign portfolio investors (FPIs) are still facing impediments over the trade confirmation timelines, foreign exchange (forex) bookings, and pre-funding requirements. This could potentially act as a roadblock when it comes to moving entirely to the new T+1 settlement cycle from next year.
Modi also reiterated that he cannot return to India due to safety concerns and also because his case has been politicised.
The agency on Monday questioned three general managers of the Punjab National Bank who have handled the -International Banking Division and Treasury department of the bank, officials said without revealing their identity.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The PFI is alleged to have been continuously involved in anti-government propaganda and spreading the narrative that Muslims were being persecuted in India.
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
Equity investors grew richer by Rs 32.49 lakh crore in 2020 on the back of smart returns in the stock market which had a roller-coaster ride during the year hit by the coronavirus pandemic. The COVID-19 outbreak ravaged lives and livelihoods on a global scale, shuttering businesses and jolting world equities. But amid all the gloom, Indian stock indices gave hope of returning to winning ways towards the latter part of the year.
Equity indices staged a pullback on Tuesday after three days of declines as investors scooped up IT, metal and consumption stocks amid a largely positive trend overseas. A recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex climbed 274.12 points or 0.45 per cent to settle at 61,418.96.
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
India skipper Harmanpreet Kaur came much cheaper for Mumbai Indians at nearly half the price of Mandhana at Rs 1.80 crore.
The central probe agency issued a provisional order under the Prevention of Money Laundering Act for attachment of Indian assets in Kodaikanal and Ooty in Tamil Nadu and a flat in Delhi's Jorbagh. A cottage and house in Somerset in the UK and a tennis club located in Barcelona, Spain have also been attached as part of the same order, the agency said.
In January, overseas investors had pumped in Rs 33,688.19 crore (Rs 336.88 billion) in Indian debt and equities.
The total money of Indians fell by 45 per cent during 2016 to CHF 675.75 million, marking the biggest ever yearly decline in such funds.
2,138 firms deposited unaccounted Rs 5,000 cr in zero-balance accounts during the note ban
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
Investors are keenly focused on new govt's first full-year Budget.
The cards should be issued strictly for use in India and transactions settled in Indian rupee.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
Equity indices faced a heavy drubbing on Thursday after an initial rally, with Sensex tanking 1,045.60 points amid a largely bearish trend overseas after the US Federal Reserve hiked rates by 75 basis points.
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
The consortium led by SBI has also initiated the process of recovery.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
In August, domestic equity markets garnered one of the highest foreign portfolio investor (FPI) flows since the outbreak of the pandemic in 2020, despite the US Federal Reserve standing firm on unwinding its stimulus measures to control inflation. FPIs pumped in over Rs 51,000 crore ($6.4 billion) in August, the most since December 2020 and the third-highest tally since March 2020-the month the Covid-19 pandemic roiled global markets. This was the second consecutive month of positive foreign flows. In the preceding nine months, FPIs had yanked out over $32 billion or Rs 2.2 trillion.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
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