He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
Bonds/papers of Tata Motors, Reliance, SBI, ICICI and others turn illiquid in international markets.
The clean energy sector in India will be one of the first sectors that would benefit during Prime Minister Narendra Modi's US trip. The sector awaits investments worth about $1 billion from US companies.
"We are already restructuring viable accounts, which are facing temporary cash flow problems," says S Sridhar, Chairman & MD, Central Bank of India.
A cross-border takeover thriller that not only saw corporate action but also diplomatic dealings and slugfests among bankers.
Total export from India is expected to register 10 per cent growth during 2010-11, with all sectors including textile showing a revival, top official of Export-Import Bank of India said.
The government on Tuesday said it is considering forming a venture capital fund of Rs 2,000 crore (Rs 20 billion) to promote research and development (R&D) in the pharmaceutical sector.
State Bank of India plans to open its office in Dubai International Finance Centre in a few weeks, a move which will boost India's largest bank's presence in the Gulf region.
Barack Obama is the worst US president as far as outsourcing is concerned, says Jagdish Bhagwati.
'If money is spent on good projects, then it is explainable, especially in deflationary circumstances. To boost demand, there is a need to increase spending,' Justin Yifu Lin, chief economist, World Bank.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
India has generated an estimated revenue of about $600 million from over five lakh international healthcare travellers including non-resident that visited India in 2006, the study revealed.
Accounted for 18.8 per cent of total imports in the region in 2010 vs Singapore, which contributed 17.8 per cent.
Transcript of the banking chat with Y B Desai, former chairman and managing director, Exim Bank, Mumbai.
The Reserve Bank of India (RBI) on Wednesday allowed payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems in the first phase of its plan bring non-banks in the same platform. "Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem.
Paramount Airways, the Coimbatore-based private airline, is in an advanced stages of negotiations with aircraft manufacturers Airbus and Boeing for a $1 billion order of 15 wide-bodied aircraft. The deal is likely to be announced shortly.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
India's largest private sector lender ICICI Bank has hit the Chinese debt market for a benchmark issue of about $500 million.
Export Import Bank of India on Friday mooted an "integrated effort" from government, industry and R&D units to boost exports of Indian herbal products, which lagged behind the growing global market, now at $62 billion.
The insurance company has formed a four-member committee headed by LIC chairman TS Vijayan to decide the valuation of LIC Mutual Fund.
Indian companies had raised $2.39 billion from foreign markets in May 2015.
Jet Airways, India's largest privately-owned airline, has approached the US Exim Bank and European export credit agencies to reschedule a $2 billion loan (Rs 10,000-crore) loan that was raised to buy 27 Boeing and eight Airbus aircraft.
The success of Regional Trade Agreements, which can enhance international trade and deepen economic relations with neighbouring countries, depend critically on design and implementation, a top official of Exim Bank said in Chennai.
China had financed the acquisition of embattled Yukos' core asset Yuganskneftegaz by Russia's state-owned 'Rosneft' oil last month in return of oil supplies till 2010, a senior Russian official said.
Each aircraft will cost about $50 million and the purchase is being funded by the US-based Exim Bank. The airline operates 143 flights a week from Indian cities to 12 destinations in the Far East and West Asian countries. In its fourth year of operation, the international budget carrier now has 11 fully owned aircraft, while seven are on lease, which will expire in 2010.
These are the highlights of RBI Governor Shaktikanta Das's statement and resolution of the Monetary Policy Committee (MPC):
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
India and China would emerge winners in the post quota regime in the textile and garments sector, according to a study carried out by EXIM Bank.
Low cost airline Spicejet is planning to add 23 new aircraft to its fleet by 2008. Following this, it will operate more than 250 flights to around 24 destinations, offering over 35,000 seats per day.
India on Wednesday asked for enhanced economic ties with Central and East European countries.
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