This permission was given some time late last month, before the Reserve Bank of India (RBI) on March 31 issued the indicative borrowing calendar for the states for April-June and the one for the Centre for April-September.
With the latest relaxation on withdrawal, more than 84 per cent of the depositors of the bank will be able to withdraw their entire account balance, the RBI said.
Company managements need to "curtail the kind of expenditures on themselves personally" with the COVID-19 pandemic highlighting the need to build internal resources with a frugal style of functioning, Maruti Suzuki India chairman R C Bhargava said on Tuesday. Addressing shareholders in the company's annual general meeting held virtually, he also termed as "a good development for the whole of industry" recent shareholder actions that did not approve expenditures by management on themselves, without specifying details. In the wake of the pandemic, building internal resources has to become a priority of industry and companies.
All-out efforts are needed to mitigate the adverse impact of the Covid-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank's policy meeting.
Mumbai Monorail was to be built in two phases - Phase I of 8.93 km and Phase II of 11.20 km. The first phase ran operations for around three years before services were abruptly halted, owing to a fire incident last year. The second phase now stands completed, but is lying closed.
The e-commerce companies believe the government is using this exercise to take an unauthorised look into their financials, shareholding and operations.
The US economy is facing substantial difficulties. Housing prices have dropped. An increasing number of households are defaulting on home loans. Losses on home loan portfolios are affecting financial firms who hold derivatives on home loans. Some financial firms have gone bankrupt, and there is uncertainty about who else might be bankrupt. With finance in difficulties, the monetary transmission is malfunctioning.
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
Some relatives of the deceased COVID-19 patients have alleged that the "lowered supply of oxygen" claimed the lives of their kin.
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Birmingham-based Gurpreet Singh Chadda, who was doing business of sale and rent-back of homes through Red2Black Homes and B&L Homes, has also been banned from working in the British financial services industry, besides a fine of 945,277 pounds (nearly Rs nine crore), the FCA said.
The top court also directed authorities to consider withdrawing all cases against migrant workers for alleged violation of lockdown norms under the Disaster Management Act.
News of all that transpired on and off the football field.
The maiden coronavirus case in Mumbai was detected on March 11, while the first fatality was recorded on March 17.
"Now is the time for countries with room in their budgets to deploy -- or get ready to deploy -- fiscal firepower. In fact, low interest rates may give some policymakers additional money to spend," new IMF chief Kristalina Georgieva said.
Fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank on Tuesday invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for its reconstruction. Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
A banking crisis is a financial crisis that affects banking activity.
Fitch had last upgraded India's sovereign rating from BB+ to BBB- with a stable outlook on August 1, 2006.
The move will increase working capital requirement for brokers, raise the work load on the system and will leave little room for contingencies.
They have cited higher capital for bad-loan provisioning, pending legislative amendments, and delay in finalising rules by the Reserve Bank of India (RBI) as some of the reasons.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
'The government is not ready to talk to us. They have their own agenda.'
The King's Cup descended into farce on Thursday when Racing Santander's players, protesting over unpaid wages, refused to challenge for the ball after their quarter-final second leg at home to Real Sociedad kicked off.
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Solicitor General Tushar Mehta, appearing for Uttar Pradesh, said the state has taken several steps to contain the spread of coronavirus but to "lockdown five cities by a judicial order may not be the right approach".
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
IMF believes it is mostly cyclical, not structural, but because of the financial sector issues, recovery will be not be quick. IMF said, it saw an opportunity with the strong mandate of the new government to reinvigorate the reform agenda to boost inclusive and sustainable growth.
Moody's on Thursday raised India's GDP forecast for the calendar year 2020 upwards to -8.9 per cent contraction from -9.6 per cent contraction forecast earlier. Similarly, India's GDP forecast for the calendar year 2021 has been revised upwards to 8.6 per cent from 8.1 per cent projected earlier. The report released by Moody's Investors Service attributed the reason behind better growth to the falling of coronavirus cases in the country.
From the appointed date, the authorised capital of the private sector bank would stand altered to Rs 5,000 crore and the number of equity shares at 2,400 crore having face value of Rs 2 each.
The Supreme Court on Wednesday directed the National Disaster Management Authority (NDMA) to issue fresh guidelines for providing minimum standards of financial help to families of those who lost their lives to COVID-19.
'Some VIP or minister should come to the ward and see how people are suffering.' 'The pain and suffering of the relatives of the patients who are admitted; let them hear their desperate pleas for medicines and oxygen and ventilators and ICU beds; the cries of the kith and kin of doctors and nurses who are being eaten by the pandemic.'
Speaking from outside Lincoln Financial Field in Philadelphia, Obama said, "Eight months into this pandemic, cases are rising again across this country... Donald Trump is not suddenly going to protect all of us. He cannot even take the basic steps to protect himself."
E-commerce companies that fall within the scope of the equalisation levy include Adobe, Uber, Udemy, Zoom.us, Expedia, Alibaba, Ikea, LinkedIn, Spotify, and eBay.
In September, Bharat Biotech aimed to supply 35 million doses, and take this up to 55 million by October. This is still less than what the Indian government expects from the company.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
'India's defining characteristic has been its ability to manage and sustain democratic governance through an accommodation of ethnic, linguistic, and religious diversity.'
'China is in a good position to defuse financial risks.'
By the time the security failure is discovered and fixed, the damage is already done. A CIO survey by Forcepoint and Frost & Sullivan found that 69 per cent of Indian organisations were at risk of data breach. Whenever there is data breach, there is a potential disaster waiting to happen.
Prime Minister Manmohan Singh on Wednesday promised that wages and appropriate perks would be paid to Air India employees at the earliest after the financial problems of the ailing carrier found a resonance in Lok Sabha with members raising concern over non-payment of salaries.
Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides -- fiscal, monetary and sectoral -- to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month. "Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides - fiscal, monetary and sectoral - is required to nurture recovery and expedite return to normalcy," Das said, as per the minutes of the meeting released on Friday.
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