The reason behind issuing new bank licences is to allow more private sector entities to set up banks
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
Mergers to create at most six state banks
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
Oppo's FDI application approved for single-brand retail trading
A bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud allowed Karti to be accompanied by a lawyer at the CBI headquarters during the questioning.
This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
Bad loans of PSU banks rose by 28.5 per cent.
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
The bench said that he would not tamper with the evidence or attempt to intimidate or influence the witnesses in the case.
Swamy gave notice in the Rajya Sabha for moving Breach of Privilege Motion against Leader of Opposition Ghulam Nabi Azad over his remarks related to the AgustaWestland issue.
Earlier, SC had given two weeks to prove Chidambaram deliberately granted FIPB clearance in 2006
The surge in deal value is largely due to the $12.9 bn Essar-Rosneft deal
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Retail giant Tesco's entry into Indian market has hit a regulatory roadblock.
A large chunk of the Rs 8.8 lakh crore of investments the Patnaik government had attracted is in uncertain territory.
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
Ms Usha may soon discover that winning four gold medals at the Asian Games and qualifying for the Los Angeles Olympics is a walk in the park compared with the challenges of stabilising governance at the IOA, observes Kanika Datta.
On May 6, the fund house had issued a statement where it had stated that it had launched a suo motu investigation two months ago to probe potential irregularities.
It also assured that the amount of medical insurance coverage under the Ayushman Bharat scheme would be doubled from Rs 5 lakh to Rs 10 lakh.
Nearly five months after its soft launch, the government's e-portal, the National Single Window System (NSWS), is seeing a significant increase in the number of investors using it to get a bunch of approvals for their ventures. The first clearance was granted on 18 January. Since then, the progress has been good. Out of the 1,258 registered users on the portal, 378 were registered in the last one week.
The Central Bureau of Investigation told the Supreme Court that charge sheet in the controversial Aircel-Maxis deal involving former telecom minister Dayanidhi Maran will be filed shortly as the Attorney General disagreed with the views of its Director Ranjit Sinha to drop the prosecution.
After coming out of CBI headquarters in New Delhi, Chidambaram said he had appeared before the CBI and the first information report did not contain any allegations against him.
The move comes within months of a crisis at JPMorgan Asset Management Company.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
Officials said the agency had issued a notice to Karti to present himself in person or through an authorised representative and submit personal financial documents and those related to a firm this week.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else.
Business reacted with caution to the reforms of 1991, and demanded protection from multinationals and imports. Twenty-five years later, traces of that demand can still be found, reports Bhupesh Bhandari.
The Indian government has simplified FDI policy inorder to attract global retail chains.
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
'No Cold War should be reignited and no Ukraine-style crisis should be repeated in Asia'
'When a company goes into insolvency, by definition it means that existing shareholders have been wiped out.'
Congress leader Veerappa Moily stated that the negotiation for Agusta began during former prime minister Atal Bihari Vajpayee's regime and all his advisors and defence ministers were involved.
India already allows 100 per cent ownership of greenfield pharma businesses.
Justice Suresh Kait said that wrong message will be sent to the society if bail is granted to Chidambaram in this case.
The manner in which India has allowed the rule of law to be subverted for over eight years is tragic, notes former additional solicitor general of India Bishwajit Bhattacharyya.
In 1937, a hydrogen-powered German airship flying into New Jersey caught fire and crashed, killing 35 passengers on board. It was sort of a man-made disaster as some 100 people were loaded on to a balloon filled with the most flammable material in the universe. The airship was named Hindenburg. Eight decades later, in 2017, a graduate of international business management from the University of Connecticut founded a "forensic financial research" firm to specialise in spotting wrongdoings and frauds, or what it calls man-made disasters, at companies around the globe and take market bets against them.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
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