The BJP had not filed till May the expenses statement for the Karnataka Assembly elections held last year in July.
Cut throat competition between public sector units and private companies may push up general insurance business by over 25 per cent to Rs 15,000 crore this fiscal.
Minister of State for Civil Aviation Praful Patel on Friday virtually gave the clean chit to the NDA government over the sale of the Centaur Hotel at Juhu in Mumbai, saying that there have been no serious irregularities noticed in the deal of the hot
The government plans to set up a separate divestment fund out of the proceeds of privatisation of the PSUs and use it to meet the basic needs of the people.\n\n\n\n\n\n\n\n\n\n
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
The government has already announced infusion of Rs 10,086 crore in Bank of India, Rs 5,500 crore in Oriental Bank of Commerce and Rs 2,159 in United Bank of India.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike from March 15 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of its disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the last four years.
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
Amid the scorching heat, with temperatures soaring between 47 and 50 degrees Celsius, irregular electricity supply has added fuel to the fire, aggravating problems for people, farmers, and the industrial sector. While the state's Bhajan Lal Sharma-led Bharatiya Janata Party (BJP) government claims to be improving the power supply, the opposition is trying to corner the government on the issue. Amid all this, undeclared power cuts are continuing in districts including the capital, that are already facing power cuts.
All transfers and promotions for next financial year will be decided by respective banks, not by the merged entity.
In his letter to the Congress National President, Mallikarjun Kharge, Lovely said that all unanimous decisions taken by the senior Delhi Congress leaders have been unilaterally vetoed by the AICC general secretary (Delhi in-charge).
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
'The government has realised that the finances of the government are in a precarious state.' 'We are borrowing to fund the ever-burgeoning revenue deficit.' 'Then you are paying interest on the fresh borrowing.' 'For the first time, the government has realised that this cannot go on.'
Private banks are assumed to be more efficient at intermediating between depositors and investors.
In 2012, India attracted $22.78 billion of FDI, according to the data by Department of Industrial Policy and Promotion.
Indian Space Research Organisation's (ISRO's) heaviest rocket LVM3 will launch British start-up OneWeb's 36 broadband satellites from the spaceport in Andhra Pradesh's Sriharikota on October 23, marking the launcher's entry into the global commercial launch service market.
The Positive Indigenisation List includes Rs 715 crore worth of high-end materials and spares, the import of which will be permitted only until a date specified for each. After each one's import deadline elapses, it will have to be procured from the Indian industry.
The gross non-performing assets of public sector banks rose to 6.03% at the end of June.
Dissatisfied with the wage hike offer made by Indian Banks' Association (IBA), public sector lenders' employee unions on Monday threatened to go on a two-day strike from February 10.
Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses. Out of the Rs 3.21 trillion worth loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) in the last financial year, Rs 3.12 trillion were disbursed to entrepreneurs, according to official data.
The production of Covaxin will increase from the current 10 million doses per month to 60 million-70 million by July-August.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
this move by the government is likely to iron out the current challenges for the NBFCs and in turn help the real estate sector.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
There is widening gap between what the government's premier retirement fund makes on its investments and what it offers to employees. The Employees' Provident Fund Organisation (EPFO) makes the bulk of its investments in government-related securities. In other words, it lends to central and state governments and related entities. The interest it gets from these instruments is largely what it uses to pay interest to its subscribers.
Projects worth over Rs 70,000 crore (Rs 700 billion) to upgrade technology have been kickstarted in the country.
In the months to come, the skies above promise to be a captivating theatre of action, where helicopters play starring roles, ferrying leaders, and echoing the pulse of democracy.
'The plan is to secure nod of the Union Cabinet and other relevant regulatory approvals within the next three months,' a senior finance ministry official said, requesting anonymity.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
Expressing happiness over the growth of the banking sector in the last 10 years, Finance Minister P Chidambaram today described it as a great achievement of the United Progressive Alliance rule.
Public sector banks, including the country's largest lender State Bank of India (SBI), have come out with a templated approach for restructuring retail and small business loans of up to Rs 25 crore under the Reserve Bank of India's (RBI) Covid restructuring package 2.0. They have also come out with standardised products to make funds available to business entities for improving healthcare infrastructure and to individuals for meeting Covid treatment expenses. Business loans have been divided into three categories.
Tata Consultancy Services on Friday said it has been selected by the Ministry of External Affairs (MEA) for the second phase of the Passport Seva Program. In the next phase of the programme, TCS will refresh existing facilities and systems, and develop innovative solutions to enable the issuance of e-passports and further enhance the citizen experience, using technologies, such as biometrics, artificial intelligence, advanced data analytics, chatbots, auto-response, natural language processing, and the cloud, a statement said. Launched in 2008, the Passport Seva Program saw TCS transforming the delivery of passport-related services, digitising the processes, and setting global benchmarks in timeliness, transparency, and reliability.
The SilverLine project, which is expected to considerably reduce travel time from Kasaragod to Thiruvananthapuram, cannot be implemented without approval from the Centre which appears to be giving it a second thought in view of the United Democratic Front and Bharatiya Janata Party's opposition to it, Kerala Chief Minister Pinarayi Vijayan said on Tuesday.
'There are many smaller parties, which in the age of ballot paper, might not have come into existence'
The US state department, which issued the revised travel advisory, on Wednesday said that the exemptions have been given under the national interest category.
As per Sebi norms, a public sector listed company should have 10 per cent public float by August 08, 2013.
The launch of a range of electric motorbikes (e-bikes) by Bengaluru-based Ola Electric, a first for the company, has disconcerted the industry because the low price the firm claims to be offering has the potential to disrupt the market. On August 15, Ola unveiled its Roadster series e-bike with a starting-price at Rs 74,999. This new pricing undercuts the previous lowest price in the category, which was Rs 110,000.
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
