Say 30 days not enough to resolve stress; want higher provision norms deferred till economy picks up
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
Modelled on practices in developed economies, these initiatives involve educating people on proper use of consumer credit. They also offer debt management solutions to distressed customers, thus avoiding the need to take unpleasant measures.
More than Rs 10 lakh was collected during the fund raising event.
Over the last decade, individual Muslims have started breaking from the tradition of sacrificing animals on Bakra Eid, motivated by the thought that the considerable amount spent on buying and sacrificing animals would be put to better use for the community's welfare, specially education.
'Of the 202 debates, 79 were around attacking Pakistan and 66 attacking the Opposition and Nehru.' 'The PMC Bank scam where thousands of depositors lost their savings got just one,' points out Vanita Kohli-Khandekar.
"President Asif Ali Zardari, Prime Minister Yousuf Raza Gilani, the government and the people of Pakistan have condemned the blasts in Mumbai and expressed distress on the loss of lives and injuries," said a statement issued by Foreign Office spokesperson Tehmina Janjua.
Maruti's exports in May were down 2.4% at 9,089 units
SBI's ownership should give confidence to depositors and lenders about the bank's solvency.
Also build a contingency fund equal to 9 to 12 months of expenses.
Will have to take impairment of Rs 15,000 crore before recovering a single rupee from its arms
'The international community should call upon Pakistan to take sustained, verifiable and irreversible actions against terror outfits operating on the territory under its control'
A government panel on Net neutrality has proposed to regulate domestic calls made using Internet-based calling applications such as Skype, WhatsApp and Viber at par with phone call services offered by telecom operators.
If you aren't living under a rock, it would be hard to miss reading or hearing about the Boeing 737 MAX aircraft being grounded by over 50 nations. For those who are in the dark or still confused about the entire episode, here's a simple FAQ on the issue and what's happening around the world.
Former Banque de France head Jacques de Larosire was given the Lifetime Achievement Award for his lengthy struggle for monetary order, the magazine said in a statement on Monday.
There was no announcement from the government on guaranteeing a minimum basic income, which is the need of the hour. The announcements on portability of ration cards and affordable rental housing to workers are for the long and medium terms. Migrant workers need immediate relief.
Though the BJP is running too close for comfort, populist schemes and support among Muslims may help Mamata Banerjee overcome the challenge, observes Aditi Phadnis.
The year gone by has also forced all airlines to turn the lens sharply on their own costs, workings and internal dynamics, opening their eyes to their vulnerabilities. Fewer, leaner, nimbler players will emerge from the carnage.
The last three prime ministers who served full terms started out in their early 70s. Mr Modi is younger and fitter than all of them. But he needs to find it in him to change course if he is to beat the odds, notes T N Ninan.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
These parties also asked the Centre to present a revised comprehensive economic package that will be a 'true stimulus' and sought reversal of all unilateral policy decisions, especially pertaining to labour laws, as they put forth a 11-point demand charter before the government during a virtual meeting, called by the Congress to discuss the situation arising out of the pandemic as well as the lockdown.
On the volume side, the number of M&A and PE deals was 110 in July, 15 per cent lower from 130 in July 2018.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
Novices should enter markets via SIPs of equity mutual funds.
Poor rainfall has also depleted water reservoirs levels, which is likely to impact the winter crops.
While passing the scrutiny of courts is a tough challenge, with eight proposed amendments to the insolvency law, the government has sought to turn the focus back on at least some of the functions of the bankruptcy law.
The Indian economy is currently the 12th largest in the world. Read on to find out the world's largest economies...
A solitary patch of violet stands out in what are walls blackened high with soot, a reminder of a room that was once coloured with shades of content and is now littered with the detritus of a riot -- except for a bed on which sits Nazar Mohammad. His three-storey home in northeast Delhi's Shiv Vihar Phase 7, one of the worst-hit areas in the recent riots, tells the story of not just three days of clashes but also of hope rising from the ashes of violence.
Sena criticised Modi's announcement of a credit line of $1 billion to Mongolia and asked why he can't show the same eagerness to help the distressed farmers of Maharashtra.
In the first quarter of 2016, India's credit-to-GDP gap stood at -2.9, the lowest among the BRIC group of nations
'People can start making a safety net, and that safety net should be at least three months of your monthly salary.' 'If somebody is earning Rs 25,000 then s/he should have at least Rs 75,000 in her/his bank account, so that if anything like this (lockdowns) happens in the future, they are not struggling.'
Sahara group on Wednesday said the sale of its airline to Jet Airways for $500 million was not a "distress deal but a profitable exit" from the business that did not hold promise and future in the short to medium term.
Participating in a video conference along with chief ministers of other states, Kumar spoke about many states having arranged for return of students from the Rajasthan town, and also made an oblique reference to the pressure from opposition parties that his government has been facing on the issue.
The recent amendments to the IBC practically barred promoters from re-acquiring their own assets, leaving only a small window to convert their non- performing assets into standard assets by paying the overdues.
This race among parties to woo the farmers mainly stems from the analysis of political pundits that the peasant class played a crucial role in the defeat of the BJP in Rajasthan, MP and Chhattisgarh.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
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