Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
'Thankfully, most investors in India have now seen through this false narrative and are once again deploying their hard-earned money.
Officials said Sebi first proposed to the FinMin to amend the relevant provisions in the Sebi Act to discontinue RBI's representation on its board, as it already has adequate presence of government nominees and in its over 25 years of existence the regulator has evolved as an "effective and one of the best in the world".
Expressing his satisfaction over the government's move to slash fiscal deficit target, Das said it will help improve investment by the private sector as crowding out impact will be less.
Uttam Galva Steels is a part of the Reserve Bank of India's second list of cases, which will be referred to the bankruptcy tribunal for insolvency proceedings after lenders failed to resolve the account by December 2017.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
The total amount of money various entities have raised through the private placement route is at its lowest since 2014. They raised a total of Rs 1.96 trillion in the first five months of 2022, revealed the numbers from PRIME Database. It is down 23.4 per cent from the Rs 2.56 trillion raised in the corresponding period in 2021.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
Singh brothers might be stopped by 'fit & proper' hurdle due to US drug norm violations; firm says confident of qualifying.
Lawyer Prashant Bhushan, appearing for the NGO, alleged that the scheme is a means for channelising unaccounted black money in favour of the ruing party.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
Many bankers say the move will have a serious impact on the chain of command of nationalised banks and that it would only enable the government to dish out favours to a few of their own men.
83% of the CEOS plan to hire more in the new year.
Under current laws, banks are required to maintain at least 25 per cent of the deposits under SLR by investing in government securities, which no longer provide attractive returns.
The electoral bonds scheme for funding political parties should not become a tool for "legitimisation of quid pro quo" between power centres and people who are benefactors of that power, the Supreme Court said on Thursday as it underscored the need for reducing the cash component in the electoral process.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
Pegging the cost of the covid-19 lockdown at USD 120 billion (approximately Rs 9 lakh crores) or 4 per cent of the GDP, analysts on Wednesday sharply cut their growth estimates and stressed on the need to announce an economic package. The Reserve Bank of India (RBI), which is scheduled to announce its first bi-monthly policy review on April 3, is set to deliver a deep rate cuts and it should also be assumed that the fiscal deficit targets will be breached, analysts said.
The brokerage said the consolidated fiscal deficit, including that of the Union (3.6 per cent), the states (2.6 per cent) and the off-budget borrowings which are being resorted to increasingly is a worry.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
The apex court, however, said foreign lawyers could not be barred from coming to India and conduct international commercial arbitration proceedings.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
The meeting came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.
The finance ministry is seeking to speed up deals with outside investors.
A Bank Investment Company to act as a holding company for state-owned banks would go a long way in minimising government interference and improving governance.
According to the Centre's legislative business list for the upcoming session, three bills have also been listed to replace three ordinances.
The RBI has lowered the policy rate by 0.75 percentage points.
The ban on listing and other roadblocks on ownership have tainted the Jalan Committee report.
The Reserve Bank of India will be closed on Wednesday as Maharashtra holds the assembly elections.
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
Besides, auditors are required to mention in their reports whether the companies have made adequate disclosures about dealings in junked notes during demonetisation
Bank, bankruptcy reforms, Nabard Bill amendment on agenda.
The prescription came through an application under the Rights to Information Act by an activist from down-south Kerala state.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
The meeting will be attended by all heads and EDs of public sector banks
Calling the present level of inflation unacceptably high, Reserve Bank of India Governor Y V Reddy on Monday said that the Central bank is ready to take steps to cool prices. "Any decision to act has to carefully assess this extremely complex situation... We have a range of instruments available with us to manage liquidity and we do not hesitate in using them. Liquidity management has to be consistent with monetary policy and with management of aggregate demand," Reddy said.
The initiative could help a large number of the alleged FERA violators get away with just financial penalties instead of criminal charges. The government's advisory, informed sources said, will not apply to all the cases as the RBI will decide on a case-to-case basis.
Inflation dipped to a five-month low of 5.19 per cent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items.
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