Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
The market breadth, indicating the overall health of the market, was positive
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
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.
In a Bollywood-style heist, thieves dug up a 125-feet-long tunnel to a nationalised a bank in Sonepat district and broke into 77 lockers decamping with cash, jewellery and other valuables.
In addition to the problem of long queues at automated teller machines, there would be the problem of guiding new cardholders, especially in rural and semi-urban areas, on how to use those cards, some bankers told Business Standard.
ED attached 21 properties of Nirav Modi and his group worth over Rs 523 crore.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
The bank had issued the notice alleging the carrier has wilfully defaulted in payment of outstanding dues of more than Rs 770 crore (Rs 7.7 billion).
A total of 22,27,506 farmers have obtained loan of about Rs 10,736 crore from cooperative banks in the state.
The move takes the process of extraditing and bringing back Nirav Modi to face the law in India to the next stage, the sources said.
One-sponsor-one-fund rule may set off merger as Amundi seen sponsoring two funds following buyout.
Pharma shares were the top gainers led by Lupin after the company received EIR from USFDA for its Goa facility
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
"I don't care if someone doesn't like my visits to Madhya Pradesh. I will continue to talk about farmers, employment to the youth and good education," said the Patidar agitation leader.
Sources said a few other lenders were also contemplating a move to declare both Kingfisher Airlines and UBHL wilful defaulters.
Confiscation of the tycoon's properties will start from February 5.
Congress vice president Rahul Gandhi said the Congress would root out the weeds in the form of the Akali-Bharatiya Janata Party combine.
Lupin was the top gainer after the USFDA cleared its Goa facility
Aam Aadmi Party's chief ministerial candidate Bhagwant Mann too questioned separately Gandhi's description of Channi as belonging to 'gareeb ghar', asking 'from which angle, is he poor'.
Arvind Kejriwal warned the media that "very big forces" would try and break the INDIA alliance by showing that there was a lot of acrimony among them.
The auditors have discovered lack of confirmation of balances from 14 overseas buyers as claimed by Winsome Diamonds.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
The manifesto, on the lines of the party's promise in Delhi in 2015, also says the AAP government will set up Aam Aadmi canteens at sub-division and district levels where one time meal will be available for Rs 5, and reduce the power tariff to half for usages up to 400 unit.
The Ministry of Home Affairs amended its guidelines on October 12 to include the chairman, managing director or chief executive officer of each public sector bank on the list of authorities who can issue requests for opening look-out circulars against whom an FIR is yet to be filed.
Mid-cap information technology (IT) stocks dominate the list of companies that are trading significantly above their 200-DMA
The S&P BSE Sensex has dipped five per cent, thus far, in CY15.
Banks are seeking an order that Mallya should appear in person before the court.
There is a two-minute footage about Choksi in the series which allegedly shows him in a bad light and therefore, could affect the various proceedings against him in India.
Only 40 per cent of the forensic information required was made available by PNB and as such, there is no way that one can put a cap on the total value of LoUs issued. He is the second Indian to be declared a fugitive economic offender, after liquor baron Vijay Mallya.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
The bills were passed by voice vote.
Asian shares ended higher after a string of positive US economic data.
Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
Confidence had ebbed in the last few years due to default by some errant domestic retailers and exporters. Moreover, many jewellers are believed to have diverted the fund collected through monthly deposit schemes to pay 'mark-to-market' margins on various loans.
The 12,000-page charge sheet further claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks.
