The negative aspect about the Budget is that the capital expenditure has been marginally cut to achieve the fiscal deficit target assumptions, and the onus of sustaining investment demand till private capex revives continues to vest with the public sector enterprises, notes Jyotivardhan Jaipuria.
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.
The United Bank of India on Tuesday said it was planning to open 12 new branches, including one each in Bangladesh and Burma.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
Kingfisher Airlines has objected to being identified as a 'wilful defaulter' by state-run UCO Bank.
At least five state-run banks on central bank's radar for lax credit appraisal
The Enforcement Directorate on Monday detected cash deposits totalling over Rs.104 crore in an account belonging to the Bahujan Samaj Party and Rs 1.43 crore in an account belonging to party Supremo Mayawati's brother Anand in a branch of United Bank of India in New Delhi, sources in the Enforcement Directorate said.
Mallya, whose Kingfisher Airlines owes money to several banks, had on Thursday said he will challenge UBI's decision to declare him a willful defaulter.
Deepak Fertilizers plans to revise open offer price to beat Mallya-Poddar efforts
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
UBI's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion) as part of consortium led by State Bank of India.
In an SEC filing dating back to 1997, he figures as "J Vallabh".
Finance Minister Arun Jaitley has said that the states were free to announce farm loan waivers if they had the fiscal space and that there would be no shortfall this year in divestment and non-tax revenues.
The centre pays only an insulting Rs 200 per pensioner each month at a tight-fisted 0.04 per cent of GDP, among the lowest in the world. Instead, as illustrated by Jean Drze, one option is for NYAY to provide individual rather than household entitlements to all pensioners of at least Rs 1200 per month.
The new Chief Economic Advisor Krishnamurthy Subramanian believes that more than unemployment, it is the quality of employment which needs to be focused on. In an interview with Arup Roychoudhury and Indivjal Dhasmana, Subramanian said that controlling inflation was the Modi government's biggest achievement.
Some of the public banks showed improvement; much more still needs to be done
Smartphones are powered with free unlimited Internet browsing for a year.
In a Q&A with Doordarshan, Jaitley discusses how he chose the areas on which he would spend more.
Gandhi added the minimum income guarantee would be implemented across the country.
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
As industrialist Vijay Mallya fights his wilful defaulter tag, former CAG Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
Chief Economic Advisor Arvind Subramanian spoke on a wide range of issues -- from GDP growth and fiscal consolidation to job creation and GST.
RBI rule, applicable prospectively, also for non-group guarantors.
Major focus will be on adequately funding existing schemes to ensure their timely completion before the next General Elections.
Such classfication brings with a high cost, including closing of formal credit channels, and likely criminal proceedings.
SBI-led consortium of 17 banks had a total exposure of about Rs 6,500 cr to Kingfisher Airlines.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
Wilful defaulters will not be allowed to take up board positions in any company.
'The Indian economy has been subsidised by the poor.'
In an online chat with Get Ahead readers July 8, financial expert Anil Rego answered their queries on education loan. Here is the chat transcript
'You will see more and more people working independently -- starting beauty parlours, driving cars, etc.' This is what we call the gig economy.' 'The same people who have been laid off in India or are unable to get visas to work in the US may be part of this gig economy.' 'India needs billions of jobs, and it can only be created by self-employment or the gig economy.'
In an interview with Business Standard, Arundhati Bhattacharya says she expects stalled projects coming back on track in two quarters.
Few top honchos of India Inc did very well in 2014.
