The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
Credit rating agencies have been raising red flag over high debt to GDP ratio of India.
Two days before the end of the fourth phase of the nationwide lockdown, West Bengal Chief Minister Mamata Banerjee on Friday announced a slew of relaxations, including reopening of shrines from June 1.
There is no hacking nor any leakage of IRCTC ticketing website and everything is safe, railway board member (Traffic) Mohd Jamshed told PTI.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
Will private firms really boost Make in India in the defence sector? Ajai Shukla seeks answers.
Has the rail ministry taken care to draw up a transparent framework?
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
BCCI has said that government body has no jurisdiction to conduct dopes tests on Indian cricketers.
All these measures will revitalise the manufacturing sector, which has been in doldrums.
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
Whatever the final outcome of this unhappy episode, one thing is clear: a glass once cracked cannot be fixed. The trust is gone forever and the relationship between two old friends lies in tatters. For now, IndiGo, the airline, will have to learn to soar with two angry and distracted commanders, says Anjuli Bhargava.
While companies claim to have taken steps including adding additional manpower, using artificial intelligence and machine learning, to counter spread of fake news, the government has found these measures unsatisfactory.
We need a change in mindset, says the RBI Governor.
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
Axis Bank Managing Director & Chief Executive Officer Shikha Sharma on the new mechanism for non-performing loans, the bank's loan portfolio, industry outlook and the bank's future plans.
It may not be an exaggeration to say that in the next three years, in India itself a million jobs or more might be at risk due to automation. How we leverage its benefits will determine our fate in the digital era.
A Russian medallist at the Pyeongchang Winter Olympics is suspected of having tested positive for a banned substance, a source at the Games said on Sunday, in a potential major blow to Russia's efforts to emerge from a drug-cheating scandal.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
A two-year extension at the helm of the RBI still looks a real possibility
Calling for availability of all necessary equipment for medical professionals, she said the onus lies on the government to ensure that the spread of infection and casualties are not caused owing to lack of infrastructure or preparedness.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
Kiran Mazumdar-Shaw talks to Nikita Puri about her book Mythbreaker.
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
The goal of the Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households, a panel chaired by Nachiket Mor that submitted its report to the Reserve Bank of India last week, is truly a BHAG.
Drones are being used for carrying out a host of tasks like surveillance to ensure that people are maintaining social distancing, spreading awareness about COVID-19 in densely populated areas, spraying disinfectants and checking people's temperature
'We are learning from every patient who is admitted, treated and discharged.'
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Even though the Health Ministry and Indian Council of Medical Research (ICMR) have been insisting that there is 'no solid evidence' of community transmission so far, the government has started scaling up health infrastructure to deal with any situation.
'Rate cut should reiterate RBI's commitment in providing confidence to consumers and small business.'
A summary of sports events and persons who made news on Friday
Getting locked into instruments before the new regime kicks in would be a good strategy.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
A summary of sports events and persons who made news on Tuesday
'Healthcare workers treating coronavirus have been among the hardest hit.' 'It is scary, but this is what we signed up for and became doctors.'
'Normally, the system is geared towards counting notes -- it is equipped to do x amount of work and one day you are asking them to do 20 x.' 'The processes involved are very complex.'
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
Representatives of stressed companies could seek more time for submitting a resolution plan, provided there is appropriate justification, said legal experts, but getting an extension will not be automatic just because an NCLT Bench is on vacation.
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