SBI-led consortium of 17 banks had a total exposure of about Rs 6,500 cr to Kingfisher Airlines.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
'In times of recovery, we may see a rural-urban divide with the urban pockets affected more by COVID-19, but the MFI business model should encourage banks to handhold them in this hour of crisis,' notes Tamal Bandyopadhyay.
He was number three in 1999 when the company was founded.
After the Google investment, the company's monthly transactions have spiralled up from 65,000 to nearly one million in just a year. According to reports, the start-up is in fresh talks to raise about $6 million from investors, including Google, says Samreen Ahmad.
With cyber criminals becoming savvier by the day, learning how to safeguard yourself is imperative.
With mobile data getting cheaper, insurers are introducing technologies that eases buying and lodging claims.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
Broking firm Jefferies says Indian financial system is now flooded with the kind of liquidity witnessed in 2005-07 and 2009-10
The company will operate the IT system for five years.
Tencent reinforces India's consumer internet story. Ranju Sarkar reports.
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
'Malicious files can silently sit in your phone and relay data to hackers without your knowledge.'
The much-awaited event is finally over. And here is what you need to know about it!
Is Apple going the Android way? Some of the features and enhancements in iOS 14 might make you think the smartphone giant is trying to introduce some android experiences into its ecosystem, says Ashish Narsale/Rediff.com.
Lender had 5.12 mn cards - almost a third of the total number of credit cards in the industry - at the end of November, 2013.
Ma and the other co-founders had finalised the name "Alibaba" after much research on its acceptability.
'After household expenses, we are left with nothing...' 'Sometimes I think it is better to shut the store...'
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The RBI has bought Rs 124.62 billion worth of bonds since its announcement on Aug. 20 that it would occasionally buy bonds to relieve some of the cash tightness in the banking system.
The reward could vary between 1% and 5% of the total tax paid.
RBI data on Dec 2014 showed 1.05 million PoS machines in the country.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
The nullifying of the NJAC Act has put the spotlight on the Judiciary. Concepts like transparency, being open to change, leading from front, management of perceptions that were reserved for the Executive earlier are now relevant for the Judiciary as well, says Sanjeev Nayyar.
At a time when the Modi government is attempting to push cashlessness with coercive means, Devangshu Datta explains why cash usage is popular even in nations with good cashless infrastructure.
The Supreme Court-appointed Special Investigations Team on black money has also proposed that holding more than Rs 15 lakh in cash be made illegal for individuals and for companies, report Tinesh Bhasin and Sanjay Kumar Singh.
Advanced integration of new iCloud features with Apple products make iOS 8 a preferred operating system over its predecessor.
Security researchers with Kaspersky Lab have recorded more than 45,000 attacks in 99 countries, including the UK, Russia, Ukraine, India, China, Italy, and Egypt.
Like Indira Gandhi, even Narendra Modi seems to be relying on directing public-sector banks through ministry of finance supported by party cadres, says Debashis Basu.
A basic problem is that the cost of spectrum and licences relative to earnings is too high.
One of the biggest ways in which recent government actions have been seen as investor-unfriendly is New Delhi's decision to unilaterally revisit almost every Bilateral Investment Treaty it has signed with other countries, says Mihir S Sharma.
Industry experts said the major pain point would be tax collection at source, which would create a rift between sellers and e-commerce companies.
The White House has not spelt out regulatory or legislative steps.
RailYatri offers a host of travel-related services to a 4.5 million user base. Shine Jacob finds out what's next for the app.
'Most importantly, marking a departure from the past, the RBI has made it clear that it is not overtly worried about the level of the local currency,' notes Tamal Bandyopadhyay.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
The panel suggests family head must be valued at skilled wage rates.
Shortly after a controversy erupted over government's plans to snoop on every message sent through WhatsApp, SMS, e-mail or any such service, the Department of Electronics and Information Technology clarified that social media websites and applications will be exempted from the purview of the draft National Encryption Policy.
'We have not issued notices randomly.' 'We have done the risk profiling of individuals, and sent to those whose profile has not matched with their declared income.'
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
The reason for digital and IT interventions increasingly being adopted is not just the change in ways commuters move but also the mode on which this transport moves, says Jyoti Mukul.
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