Muraleedharan said that terrorist groups such as Al-Shabaab have put in place elaborate revenue collection networks, to support their terrorist activities.
With this, the total number of aircraft taken out of operations due to cash crunch in the airline and its subsequent failure to pay rentals to various lessors has gone up to 21 so far.
The government's regional connectivity scheme UDAN has witnessed a slow progress of implementation, as not even 50 per cent of the route have been operationalised and the second wave of the pandemic, which started from mid of March 2021, may impact it further going forward, according to a report. Rating agency ICRA in its report on Tuesday said that there is likely to be a further delay of two years in achieving the target of operationalising as many as 100 unserved and underserved airports and starting at least 1,000 RCS routes by 2024. Aimed at enhancing regional connectivity through fiscal support and infrastructure development, the maiden flight under the Ude Desh Ka Aam Nagrik (UDAN) scheme was flagged off by Prime Minister Narendra Modi from Shimla for Delhi on April 27, 2017.
Shares of SpiceJet zoomed almost 20 per cent on Friday on expectations of revival of the distressed air carrier.
'I can confidently say there will be another financial crisis soon enough, and probably more than one global crisis within the next century, given the increasingly integrated nature of the global economy.'
'If we want faster growth and want greater flow of credit towards the private sector, it's important to have many more of such large entities.'
Li also had a difficult meeting with some of the Western leaders on the sidelines, especially Italian Prime Minister Giorgia Meloni, who has signalled Italy's resolve to quit China's famed Belt and Road Initiative for its failure to bring the expected results to Rome.
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
Reserve Bank Governor Shaktikanta Das on Wednesday said in the wake of appreciating US dollar, the movement of rupee has remained least disruptive as compared to its peers, and the size of foreign exchange reserve is comfortable. On a financial year basis (from April to October 2022), the rupee has appreciated by 3.2 per cent in real terms, even as several major currencies have depreciated, he said while announcing the latest set of bi-monthly monetary policy. "The story of the rupee has been one of India's resilience and stability," the Governor said while pointing out that the appreciation of the US dollar this year, which precipitated large-scale depreciation of all major global currencies including the Indian rupee, has drawn wide attention.
In his opening remarks at the G20 Leaders' Summit at the Bharat Mandapam in New Delhi, Modi said the 21st century is a time of giving new direction to the world.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
Are you worried about your relationship with your partner or friends or colleagues? Ask Dr Ashish Sehgal for advice.
Reserve Bank Governor Shaktikanta Das said on Monday that fair and impartial auditing is essential for a resilient economy as it instils confidence among citizens. Addressing officers at the National Academy of Audit and Accounts, Das said that audit is important for the country as public expenditure decisions are based on these reports. Observing that there is a need to improve the quality and depth of audit, he said the Reserve Bank has taken a host of steps in consultation with the Institute of Chartered Accountants of India (ICAI) for improving the audit of banks and financial institutions.
Though the economy has steadily gained momentum and remained resilient since the second quarter of the current fiscal, the Omicron variant of coronavirus remains the major challenge along with rising inflation pressures, says the Reserve Bank in its second financial stability report. In the foreword to the report released on Wednesday, RBI Governor Shaktikanta Das notes that after the destructive second wave in April-May 2021, the growth outlook has progressively improved, though there are headwinds from global developments and more recently from the Omicron virus. A stronger and sustainable recovery hinges on the revival of private investment and shoring up private consumption, which unfortunately still remain below their pre-pandemic levels, he notes.
It is a national economic problem and one that requires a political solution hand in hand with a clear government commitment to stand behind core national assets, says Vinayak Chatterjee.
Public sector banks have raked in more profits in the three months ended June on the back of a persistent decline in bad loans and the trend may have a positive bearing on their balance sheets in the coming quarters. In the June quarter, Bank of Maharashtra (BoM) and State Bank of India (SBI) were in the lowest quartile as far as Gross Non Performing Assets (NPAs) and net NPAs were concerned, according to an analysis of the quarterly financial numbers published by the public sector lenders. Cumulatively, all the 12 public sector banks reported a profit of about Rs 15,306 crore in the three months ended June, registering an annual growth of 9.2 per cent. However, leading public sector lenders -- SBI and PNB -- posted lower profits in the June quarter.
Moody's Investors Service on Friday slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic.
The Canadian government is advising its citizens to refrain from visiting Russia and to leave the country as soon as possible amid the impacts of the Russian military operations in Ukraine.
Apart from answering all these questions confidently, it is suggested that you keep all the relevant documents along with tickets and passport handy.
Markets under pressure; IT financials grab spotlight.
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
Reliance Jio Infocomm (RJIL) has written to the Telecom Regulatory Authority of India (Trai) stating that a recent complaint against it by Bharti Airtel is a deliberate, malicious attempt at defaming RJIL's consumer-friendly tariff. RJIL has also asked the regulator to warn Airtel against 'making such frivolous complaints in the future'. The move is in response to Airtel recently requesting Trai to bring content aired through broadband under the regulatory fold and keep a check against discriminatory bundling tactics.
A plea has been filed in the Supreme Court seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
Discovering a way to deal with negative emotions is often the first step toward overcoming emotional eating.
The man said that he was under severe financial distress for a few months because of lockdown and decided to end his life.
Gunmen allegedly shot dead two women in southwest Delhi's RK Puram in the early hours of Sunday over a suspected financial dispute with their brother, police said.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
There is confusion around the registration guidelines and the cut-off dates for acquiring the degrees.
In a response to the August 3 order, the Centre, represented by Solicitor General Tushar Mehta, said till the time either the legislature or the poll panel steps in, the top court must lay down "dos and don'ts" for political parties in the 'larger national interest.'
'It is nice that the banking system is in good shape.' 'It is a little early to call it too good because I think it was too bad in the past.'
The slowdown in India is related to a credit squeeze, which is a cyclical problem - not a structural problem: American economist Steve Hanke.
Prime Minister Narendra Modi on Friday expressed hope that G20 will draw inspiration from the vibrancy of the Indian economy and work towards bringing back stability, confidence and growth on the global landscape.
On Pakistan, the publication quoted him as saying that India wants "normal and neighborly relations."
Bank credit offtake is expected to pick up following normalisation of economic activities aided by the government thrust on public expenditure in current fiscal year, a report said. According to the Care Edge report, the gross non-performing assets (GNPA) ratio hit a six-year low of 5.9 per cent in FY22 but remained above the pre-asset quality review of 2015-16. However, it said, India's NPA ratio is one of the highest among the comparable countries despite gradual decline.
Gross non-performing assets (GNPAs) of banks may rise to 9.8 per cent by March 2022 under a baseline scenario, from 7.48 per cent in March 2021, according to the Financial Stability Report (FSR) released by the Reserve Bank of India. Under a severe stress scenario, GNPA of banks may increase to 11.22 per cent, it added.
The new regulatory body would be called the Civil Aviation Authority and would replace the Directorate General of Civil Aviation.
Reliance Industries (RIL) is likely to be the lone bidder for Mangalore-based JBF Petrochemicals, which is up for sale after defaulting on bank loans worth Rs 5,000 crore. The lenders for the second time extended the deadline for submission of bids, which had ended on August 20, as several players, including public sector companies, were redrawing their acquisition plans, said people in the know. "There were several companies which had submitted their expressions of interest (EoIs) for the company but after due diligence decided to exit the race," said a source close to the development. "The new deadline for submitting financial offers is August-end," the source said.
A top-class board is important from a systemic point of view, more so at a time when the wider financial world and India Inc is chasing the same talent as banks.
While everybody is talking about the vast potential of 5G, the uptake of such services in India depends on operators getting around 100 Mhz 5G spectrum. At the reserve price proposed by Trai, getting this spectrum will cost a telco around Rs 490 billion. Which amount could be difficult for operators to mop up, given the financial stress they are undergoing, says Kiran Rathee.
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