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
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
About 196 Regional Rural Banks will participate in the nationwide strike called by central trade unions and federation of bank employees on May 21, in protest against the 'anti-labour' policies of government.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
The Reserve Bank of India (RBI) unions have decided to intensify their stir demanding revision of wages, pending since November 2017, and have called for mass casual leave of employees at the central bank on November 30. However, several sources in the RBI told Business Standard that the unions may not have to go on agitation, as the new contours of the wage pact have been almost finalised and could be announced any time. An email sent to the RBI was not answered. The United Forum of Reserve Bank Officers and Employees had deferred its agitation earlier after it was told that RBI Governor Shaktikanta Das was to hold talks with the human resource management department (HRMD).
While sources in Iran confirmed the dispute, officials of the central banks of both countries are set to meet on Friday.
Chief Minister K Chandrasekhar Rao-led Bharat Rashtra Samiti has pinned hopes on the development work his government undertook during the past ten years, while opposition Congress and BJP bank on anti-incumbency and the alleged failures of the incumbent.
The strike by bank employees is part of the one-day all-India general strike, called by major central trade unions.
Caste census politics took centre stage on Thursday with the Congress terming the government's decision as a 'diversionary tactic' and a move for headlines management and the Bharatiya Janata Party saying it has exposed the difference between the Centre's 'true intentions' and the 'empty sloganeering' of the opposition party.
A case has been registered against Union Minister of State Rajeev Chandrasekhar for allegedly making statements that promote enmity between different groups, police said on Tuesday.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Banking on the Budget's tax relief, the BJP seeks to energise Delhi's middle class; the AAP is doing its bit too. But will their outreach mobilise this politically crucial yet disengaged electorate?
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
The decision is in response to the strike call given by United Forum Of Bank Unions, which has more than 10 lakh (1 million) employees and officers of banking Industry under its umbrella.
Foreign ministers of G20 major economies will meet in the national capital on March 1 and 2 to deliberate on pressing global challenges amid escalating confrontation between Russia and the West over the Ukraine conflict that entered the second year this week.
Giving a clarion call to defeat the Mamata Banerjee-led party in West Bengal, the prime minister while addressing a mega rally in Siliguri said, "The road to oust the corrupt TMC government from West Bengal will open from the Lok Sabha polls."
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week.
Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Banks cannot shirk their responsibility in cases of frauds.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
The dismissal of the five --most of whom have cases registered against them for terror activities -- was ordered under Article 311 of the Indian Constitution.
Prime Minister Narendra Modi and US Vice President JD Vance have expressed satisfaction with the progress made in negotiations for a bilateral trade agreement. The two leaders met in New Delhi and discussed a range of bilateral issues, including cooperation in energy, defense, strategic technologies, and other areas. They also exchanged views on regional and global issues of mutual interest.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
Electing Union Bank of India chairman V Leeladhar as the new chief, the Indian Banks Association on Thursday said it has constituted a committee to draw up a long-term perspective 'Vision Plan' for the banking industry.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money-laundering charges in Mumbai in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said.
Journalist and author Chitra Subramaniam has demanded that the Central Bureau of Investigation (CBI) make public its findings from the "box of evidence" received from Switzerland regarding the Bofors payoffs. Subramaniam, author of 'Boforsgate: A Journalist's Pursuit of Truth', expressed concerns about the lack of transparency surrounding the evidence, questioning who opened the box, when it was opened, and what it contained. She also raised doubts about the official narrative regarding the alleged bribe in the Bofors case, suggesting the sum of Rs 64 crore may not reflect the full extent of the corruption. Subramaniam also alleged that the CBI planted stories about Hindi film actor Amitabh Bachchan to derail the investigation and launched a political vendetta against the Bachchans. She recalled that Bachchan had come to her home and asked if she had seen his name. The CBI has recently requested assistance from the United States in the case, seeking information from private investigator Michael Hershman, who claims to have crucial details about the scandal. The Bofors scandal, a major bribery case involving the Indian government and the Swedish arms manufacturer Bofors in the 1980s, pertains to allegations of a Rs 64-crore bribe in a Rs 1,437-crore deal for the supply of 400 155mm field Howitzers.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
It was a protest which held a mirror to the government of a state taking pride in its commitment to democracy, gender equality and social indices.One person, who in his employed days had known governments and political parties at close quarters, told me that public perception of how the Kerala government handled the ASHA workers' strike had been terrible, reports Shyam G Menon.
The CBI has shared its findings with the Enforcement Directorate.
Short-term government bonds fell behind longer-dated securities in demand this month so far due to a liquidity crunch in the banking system and expectations of a delay in a rate cut, said market participants. Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more. Preference for longer-term securities was strengthened by the conclusion of the borrowing programme, which compelled institutional investors to fulfil their requirements in the secondary market.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
The year 2022 saw the Reserve Bank of India (RBI) start acting on the policy repo rate after a gap of two years. The six-member monetary policy committee of the RBI reduced interest rate sharply - by 115 bps - when Covid-19 struck in 2020. In March 2020, days after the nationwide lockdown was announced, MPC in an unscheduled meeting reduced the repo rate by 75 bps, followed by another 40 bps in May. Status quo was maintained for the next two years since the May repo rate hike.
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
