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.
The Bill suggests an insolvency regulator.
With Mahela Jayawardene named coach of Mumbai Indians on Friday, speculation is rife that former Australia skipper and the IPL franchise coach Ricky Ponting may be in contention for a big role in a revamped Australian cricket.
Distressed retailer Subhiksha on Thursday said its 15,000 employees have been unpaid since October last and it has been directed by Employees Provident Fund Organisation (EPFO) to pay the assessed dues at the earliest.
While warning that many key clients and employees have threatened to quit the company due to its bad financial position, the government-appointed board of Satyam Computer also sought CLB's nod for allotment of preferential equity and increasing its authorised capital to Rs 120 crore (Rs 1.2 billion). The petition has been admitted by CLB, which would continue its hearing on Thursday.
The worst economic downturn in decades has forced the Church of England to turn away clergies for the first time in history after billion of pounds of its investments were wiped out in the financial crisis.
With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt. The contraction could be even higher if governments fail to provide income support and help boost consumer spending.
The US president, who has expressed disappointment over China's handling of the COVID-19 pandemic, claimed that it was the "incompetence" of Beijing that led to the mass killing across the globe.
The stressed asset business will be a mix of an ARC and a distressed asset fund. Ambit has already started insurance brokerage and equity research and sales businesses this year. It closed a $100-million private equity fund called Ambit Pragma Ventures recently. It is also keen on starting proprietary trading.
Seizing on Prime Minister Narendra Modi's poll promise of 'bigger than Rs 50,000-crore' financial package for Bihar, Shiv Sena president Uddhav Thackeray on Saturday said.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
Banks completed a full circle in 2008, as famed lenders from New York to Tokyo turned beggars who lined up for bailouts from their respective governments.
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
If convicted, each defendant faces a maximum penalty of 30 years.
Despite accounting for the largest number of fatalities, the death rate, however, in the US is much lower than other countries.
During his playing days he brought joy to millions and now Indian football icon Bhaichung Bhutia is making a difference to the people of his state Sikkim, who have been stranded in other states because of the lockdown. After having opened his doors to migrant workers, the former India captain has been trying to help his people from his state Sikkim, who have been stranded in other states due to the coronavirus-forced nationwide lockdown.
'The BJP leadership and its agriculture minister must make up their mind on what kind of corrective measures will be needed for Indian agriculture at this point in time.' 'The sooner Mr Singh provides policy clarity on this vital issue, the better are the chances of India's agriculture and farmers emerging out of their current mess,' says A K Bhattacharya.
The sea-facing desert city has been hit by a spate of redundancies recently, following the worldwide financial meltdown, which has affected its much vaunted real estate sector. The lay-offs affect both the locals as well as expatriates, mostly from the Indian sub-continent.
Rural budget set to increase; likely to enhance market linkages for agri commodities
Chairman and CEO of financial giant Citigroup Charles Prince plans to resign at a board meeting on Sunday in face of fresh losses from distressed mortgage assets leading to a $5-billion write-down and sharp drop in profits, media reports said on Saturday. The move would end the four-year tenure of Prince, a longtime lawyer and loyal lieutenant of former Citigroup head Sanford Weill, who assembled the financial giant that stands as America's largest bank by assets, the Wall
Experts say a combination of improving asset quality and NBFCs' weak balance-sheets bodes well for both corporate and retail banks.
'The RBI risks becoming dangerously weakened, as successive governments and finance ministers have misunderstood its role'.
'Bono, every time you clap your hands, a woman somewhere in the land of Ahimsa, is being abused.' 'Physically, emotionally or financially; at home, in the street or at work...' 'Maybe just for a little bit, you could tweak your humanitarian mode and turn womanitarian while in the land of Gandhi,' asks Priya Mirchandani on the eve of U2's Indian debut.
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
With mosques shut, workers and daily wage workers are left to fend for themselves, underscoring once again the magnitude of the crisis of unemployment and poverty triggered by the lockdown, which began on March 25 to stem the spread of the coronavirus.
2018 recorded a strong uptick in start-up investments on the back of some mega deals and was the best year for the sector, surpassing the previous high of $4.8 billion in 2015.
Recently, CVC suggested that banks have a monitoring mechanism for bad loan sales to ARCs, with the cash flow statement from stressed assets shared with banks.
Reserve Bank has almost finalised the structure of Central Fraud Registry.
'It's a stain on the game we all love and I have loved since I was a boy'
Policy with regard to the foreign banks is part of his five pillars of reforms, says RBI Governor.
As many as 433 borrowers have taken loans of over Rs 1,000 crore.
The biggest loss of jobs among salaried employees was of 'white-collar professional employees and other employees'. Among these are engineers including software engineers, physicians, teachers, accountants, analysts and so on, who are professionally qualified and are employed in some private or government organisation All the gains made in their employment over the past four years were washed away during the lockdown, reveals Mahesh Vyas.
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
Focus will, however, shift back to corporate earnings, liquidity situation and global events - specially crude price.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
Actors Nana Patekar and Makrand Anaspure distributed cheques of financial aid to as many as 113 families of farmers from Latur and Osmanabad districts of Marathwada, who have committed suicides, owing to drought and indebtedness.
The Cellular Operators Association of India on Wednesday telecom regulator TRAI's order for slashing roaming charges by up to 56 per cent and said the move could lead to increase in basic tariffs.
The attack is not focused towards any particular industry but it is widely spread across industries
'We first need to acknowledge the truth.' 'We are trying to diminish the problem and say, everything is okay and green shoots are emerging.' 'Imagine you are a doctor and not getting accurate medical reports, how do you diagnose and treat the illness?' 'We are not dealing with a terminal illness here, we are dealing with BP and cholesterol, which are imminently curable.'
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