West Bengal Chief Minister Mamata Banerjee on Friday wrote to Prime Minister Narendra Modi, saying that her state would sever all ties with the Damodar Valley Corporation (DVC) for 'unilaterally releasing water', which led to floods in south Bengal districts.
Ron Somers, founder and CEO of India First Group and the former President of leading business advocacy group US-India Business Council said that when Lok Sabha election results are declared on June 4, "I believe that Narendra Modi will win Parliament by the largest majority ever recorded in the country's history.
The government on Monday published a draft data policy for public consultation, which says all data collected, generated, and stored by every government ministry and department will be open and shareable barring certain exceptions. Also, detailed datasets that have undergone value addition could be monetised by the government. The policy document, called "Draft India Data Accessibility & Use Policy 2022", prescribes that a regulatory authority called the Indian Data Council (IDC) and an agency by the name India Data Office (IDO) will oversee framing metadata standards and enforcement, respectively.
From linking innovation with supply of inputs to providing contract farming, the private sector can help agriculture move to the next stage of development.
Even under the RTI response, all public sectors banks have washed their hands of any responsibility.
A United Nations' body has called for greater public and private spending for upgrading critical areas of India's infrastructure, a key driver of the economy, and said a bulk of these investment need to be generated internally.
Unions, which are protesting against FDI in the banking sector, are pressing for various demands.
It was a dream-come-true moment for Kashmiri youth Nazim Nazeer on Thursday as Prime Minister Narendra Modi not only took a selfie with him but also referred to him as a 'friend'.
The finance minister has emphasised on the quick disbursal of additional loans to MSMEs, to simplify process, formats and documentation.
The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
China is likely to deploy Artificial Intelligence-generated content via social media to sway public opinion to boost its geopolitical interests during elections in countries like India, South Korea and the US, tech giant Microsoft has warned.
Indian lenders are unlikely to clear the vertical split of BSE-listed Vedanta Ltd in a hurry, considering that the demerger would reduce the fungibility of cash flows across businesses and increase their volatility, according to analysts. The demerger plan, which would result in six separate listed entities, would require approval from shareholders, lenders and other statutory bodies. "We believe that a separate listing of different businesses would reduce the fungibility of cash flows across businesses and increase the volatility of cash flows.
The Chaturvedi Committee and the public sector oil marketing companies have suggested that all industrial and commercial establishments including the state transport undertaking and the railways, which are the largest consumer of diesel in the country, should pay for the fuel at the market rate. The public sector oil marketing companies sell diesel and petrol at highly subsidised prices in order to shield customers from the rise in crude oil prices.
A Rs 7,056 crore outer harbour project by VO Chidambaranar (VOC) Port in Tuticorin is garnering interest from domestic and global majors in the sector, such as Adani Ports and Special Economic Zone, Singapore's PSA International, Dutch major Van Oord, JM Baxi, and JSW, among others, according to sources close to the development. The project aims to capitalise on the newfound investor interest in the region, spurred by mega investments such as the Rs 16,000 crore electric vehicle manufacturing unit by Vietnamese major VinFast, the Indian Space Research Organisation's second spaceport in Tamil Nadu's Kulasekarapattinam, and Singapore's Sembcorp's Rs 36,238 crore investment in renewable energy.
Human memory about policy issues is short. That alone can explain why many are deliriously happy with his latest slogans and ignore seven years of poor 'doing business' climate, taxtortion, extortionate oil prices, and high dependence on babus and the big State that has kept the enterprise system stifled, observes Debashis Basu.
12 out of 21 public sector banks reported declines in their loan books in the last financial year against seven such banks in 2015-16 and none in 2013-14.
India goes all out to welcome US President Barack Obama to India for his three-day visit.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
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After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
The two-day nationwide strike call, demanding early wage revision among other issues, was given by United Forum of Bank Unions that comprises nine national unions.
Modi government's story of five years with regard to equity allocation for PSUs shows that it may have allowed a large part of its resources to be wasted. This is also a worrying reflection of the government's inability to take hard decisions - whether they pertain to privatisation or forcing weak public-sector banks to wind down their operations, says A K Bhattacharya.
"The amended second draft (known as DAP) has since been finalised by the review committee driven by tenets of defence reforms announced as part of the 'Atmanirbhar Bharat Abhiyan' and has been placed in the public domain," the ministry said.
The United States will partner with public and private sectors to support and modernise the Indian aviation sector, American Ambassador to the country Timothy J Roemer said.
Time opportune, with market buoyancy and entry of new entities
Divestment in BPCL, SCI, Concor, NEEPCO, and THDC would help the Centre keep its fiscal deficit in check in the wake of subdued tax revenues and a Rs 1.45-trillion hit for the exchequer from corporation rate cuts.
The government holds 85.96 per cent in NHPC.
'The BJP's numbers in this government are almost the same as those enjoyed by the Congress under P V Narasimha Rao when the reform process was kicked off in 1991.' 'As before, the only constraints on the prime minister's actions are internal, not external.' 'They come from his own assessment of the political consequences of any action,' points out Mihir S Sharma.
'The impact of CEO transition is fairly even for stocks, with about half (53 per cent) of the events not producing any change in the relative performance of the stock.'
'This will have a multiplier effect in generating more jobs.'
Finance secretary Rajiv Kumar was positive in formation of a committee consisting all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
Operations in branches of public sector banks are affected and cheque clearance would be delayed.
The wage revision of public sector bank employees is due from November 2012.
To counter the pandemic, air transport was suspended from March 25 till May 24 which rendered zero traffic at AAI airports. Even after resumption of flights, traffic is yet to pick up at airports due to quarantine measures implemented by states and an overall fear of flying.
Among other demands, the unions are also seeking immediate introduction of five-day week in full and reduction of cash transaction hours and regulated working hours.
The divestment department has lined up a host of companies.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
About 40 per cent of the money lost by banks in the PNB scam and the fraud linked to fugitive businessman Vijay Mallya's defunct Kingfisher Airlines has been realised by way of sale of shares seized under the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate said on Wednesday.
