The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
RBI conducts interviews for first lateral hire for CGM post; deputy governors to head four distinct verticals.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
The 42-year-old Acharya's appointment for a three-year tenure was cleared by the Appointments Committee of the Cabinet.
A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
Three policymakers aware of the central bank's deliberations on the Budget said they are combing through the numbers to test how Jaitley struck a balance, and question some of the assumptions.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
BSE Realty index zoomed by almost 7% followed by counters like Metal, Oil & Gas, Auto, Banks, Auto, Healthcare and Power, all surging between 1-5%.
Reserve Bank of India (RBI) Governor Raghuram Rajan spoke on a host of issues at his last post-policy interaction with the media
Around 2,500 engineers and 45,000 cash management employees step up efforts to complete the target of recalibrating 12,500 ATMs every day.
With about 2,000 qualified engineers to service ATMs across the country, it is an uphill task to modify 220,000 machines.
Cyrus Mistry had put in place a strategy that would have pulled most of the Tata group's 'legacy hotspots' out of the financial mess from legacy issues and helped turn around the group's finances.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
The Narendra Modi-led National Democratic Alliance government has given environment clearance to five projects since it took charge on May 26.
The public-private partnership model is a compulsion, says the minister.
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