Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
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Reliance, Birla Group, Airtel eye small finance banks.
The preference for digital banking now cuts across all customer segments.
Nokia has tied up with Citibank, HDFC Bank, Axis Bank, Standard Chartered, HSBC, ICICI Bank and SBI Cards for the EMI scheme and the offer will be available to consumers with credit cards from any of these banks.
Stung by the crisis arising out of the Syndicate Bank bribery case, lenders have gone into a fire-fighting mode to avoid fresh bad loans from their exposure to Bhushan Steel, one of the most indebted steel companies in the country.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
Customers using e-commerce websites are young and techno-savvy.
Move comes in view of big debt overhang in two sectors; companies unwilling.
Move comes in view of big debt overhang in two sectors; companies unwilling.
The employees have alleged that Mallya, who has been giving them false promises, has been able go away scot free by eliciting "political favours".
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
There will be tripartite pact with member, bank/housing agency and EPFO.
There will be an automatic reduction in interest rates of all floating rate loans anytime soon.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
Banking as we know it will stand on its head in the next 10 years.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
The airline's accounts are yet to be audited.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
Paramount Airlines had started its operations in 2005 and was flying to southern and eastern parts of India before it wound up 2010.
Given that medical inflation is estimated at 15% to 20%, a no-claim bonus can provide added benefit
Expect premiums to go up or introduction of a co-pay option for third-party damage
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
Top gainers in the Sensex pack included Hero MotoCorp, Maruti, M&M, Bajaj Auto, HUL, HCL Tech, Bajaj Finance, ITC, HDFC and L&T, rising up to 7.51 per cent.
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
"We can celebrate technology, but if it doesn't truly empower every Indian and every Indian organisation to achieve more...we would have achieved nothing," the Microsoft CEO said in Mumbai.
Finance Minister Arun Jaitley said it has been decided to fix the minimum wages at Rs 350 per day for unskilled non-agricultural workers for 'C' category areas keeping in view the modalities of fixing minimum wages.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
The FMCG index gained more than 1% on the back of stellar gains in ITC.
'Completely disregarding ground reports of starvation deaths owing to Aadhaar and potentially disguising these deaths to look like accidents appears brutal,' says Rajendran Narayanan.
The summons was issued to Mallya under provisions of the Prevention of Money Laundering Act in connection with the IDBI case.
The company contented before the tribunal that the amount was paid outside India.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
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
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