SBI and other public sector banks have decided to lend Rs 4,000 crore to Patanjali Ayurved for the acquisition of Ruchi Soya, which was facing bankruptcy proceedings under the Insolvency and Bankruptcy Code. The money lent by banks will help the PSBs to settle their exposure to Ruchi Soya with a haircut of 65 per cent. Banks led by SBI and others had earlier made claims of over Rs 12,146 crore against Ruchi Soya after the company failed to repay its loans.
Given its features as a retirement product (long lock-in and compulsory annuitisation), investors should have other investments they can fall back on in case they need funds
The government is selling its entire 100 per cent stake in Air India but wants effective control to stay with Indian nationals.
State Bank of India's push among fellow bankers to appoint an external agency to run debt-heavy Bhushan Steel might not be smooth sailing.
Stalin has given due respect to seniority in the pecking order, but has also taken into consideration the demands of individual ministries and the suitability of individuals, observes N Sathiya Moorthy.
Experts hail Budget 2015 as a progressive, growth oriented one.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
The Reserve Bank of India has submitted a list of big loan defaulters in a sealed cover to the Supreme Court with a submission that disclosing their names may have "adverse impact" for business and may "accentuate failure of business".
Bad loans in public sector banks more than tripled.
The banking regulator is seeking an early exit mechanism for private banks under Prompt Corrective Action.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
Reduction in the mandatory minimum contribution and extension to invest in the scheme from 60 years to 70 years has made the National Pension Scheme more friendly, says Anil Chopra, Group CEO & Director Bajaj Capital
Trump is the first nominee of a major party in over a century to have no experience whatsoever of any political, administrative or military office.
India's good fortune, experts in the US feel, is not the result of a fundamentally strong economy, but because it is the best of a bad set of options.
In three of the past four years, 10-year returns have been 10 per cent or lower, making equity unattractive, compared to other asset classes.
Unlike the regimes of Jayalalitha, Palaniswami and Karunanidhi, ministers are actually getting to make decisions on their own, with the unmentioned rider that they would be held responsible and accountable, observes N Sathiya Moorthy.
Investors in LIC's insurance and other schemes are receiving a lower rate of return because LIC is subsidising incompetence at best and malfeasance at worst in institutions such as IDBI Bank and IL&FS, says Jaimini Bhagwati.
'India resembles not just the more turbulent bits of its own past, but other 'managed' democracies, where all institutional strength and independence have been hollowed out to serve political power,' notes Mihir S Sharma.
Deal to help RCom reduce debt, Sun gain subscribers in new markets
The world seems to have caught severe pneumonia, or worse, as China had flu.
Emergency measures are needed to avoid "a total collapse in public security, health, education, transport and environmental management," a decree in the state's Official Gazette said.
The Wadia group-owned airline is building a new management team and putting in place strategies for efficient operations. Leading the change is Cornelis Vrieswijk, the airline's new chief executive officer.
Act says remuneration to directors and key managerial personnel should involve a balance between fixed and incentive pay.
The coming elections seem a tough battleground for the BJP in the wake of anti-incumbency, Patidar and Dalit agitations and implementation of the GST.
Interest rates on bank FDs have started coming down and rates on other fixed-income products will also decline. Investors should lock in to instruments offering higher returns.
Issuing guidelines for enhanced disclosures by CRAs, the watchdog has called for having a uniform Standard Operating Procedure in respect of tracking and timely recognition of default.
SBI Caps readies plan, identifies 4 assets; bankers say there are enough bidders.
'You cannot fight a disease as complex as COVID-19 without a carefully calibrated, localised response.'
With outlook uncertain for a range of sectors, no one is quite sure of where to invest in stocks
The plea also sought a directive for the constitution of a committee of experts who would find the details of bad debt cases in the country.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
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.
Behind the movement are shock-workers functioning quietly to ensure that a seemingly spontaneous, apolitical, grassroots mobilisation sustains itself without dribbling into chaos or violence. Sai Manish lists some of them.
Foreign Banks operating in India have outpaced domestic banks, both private and PSUs, in reducing the level of non-performing assets, a study has revealed.
The 84-year old veteran Congressman, who died from post-COVID complications on Monday, was a Nehru-Gandhi family loyalist.
The Covid pandemic has left a question mark on how the central government manages its staff.
Both have been robustly muscular leaders who began as immensely charismatic politicians conveying an impression that they were makers of history, raring to go. Both have been hyperactive on the world stage. But in the final analysis, Abe is departing on a sombre note, unceremoniously and apologetically, observes Ambassador M K Bhadrakumar.
'Will Mr Jaitley listen, or is that expecting too much in pre-election season?' asks T N Ninan.
Suresh Prabhu on the priority being given to safety and the need for more funds for railways to move ahead.
'What Siddhartha's life teaches us is something very true about life; that life is a circle, and what goes up will come down. What is on top today will come down tomorrow, and what is down will go back to the top.'
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