In all, 14 unions representing bank employees and officers will be supporting the day-long stir.
Apart from INX Media and Aircel-Maxis, the four other firms which are under the scanner are Diageo Scotland, Essar Steel, Katara Holdings and Elforge Ltd. These firms were granted FIPB approval when Chidambaram was the FM, reports Shrimi Choudhary.
Sena also took a dig at the prime minister over his frequent foreign trips, saying he has to first decide if his residence was within the country or outside.
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
Former Dabur director gave sketchy details of investors and his employer after two years of tax summons.
Former Union law minister Ram Jethmalani on Thursday demanded setting up of a special investigation team to probe unaccounted money of Indians, estimated to the tune of $1500 billion, lying in Swiss and other foreign banks.
According to the latest shareholding pattern of Dabur, Pradip Burman, who is part of the promoter group, holds 0.02 per cent stake in the company.
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
A case was registered against Burman under the Income Tax Act for the offences relating to concealment of income and tax evasion.
Eminent jurist Ram Jethmalani and others, who have alleged government inaction in bringing back black money stashed in foreign banks, on Friday told the Supreme Court that the Centre was withholding vital documents relating to the case.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
India has called for implementation of the automatic exchange of tax info.
RBI declines to accede to plea, upheld by Padmanabhan panel, for priority sector tag; feels move would dilute claims of those needing it more.
Issue tied in with review of foreign bank operations in India. RBI had earlier proposed to defer the review, which is meant to provide guidelines for the presence of foreign banks in India from April 2009 onwards, given the current economic meltdown globally and in the domestic markets.
India has made a fresh request to Switzerland seeking bank details and names of Indians having unaccounted money in the country's banks.
A special task force which would comprise the Financial Intelligence Wing, enforcement directorate, directorate of Revenue Intelligence and the Income Tax department, has been set up for the purpose.
The Supreme Court on Wednesday decided to hear on May 4 the petition filed by former law minister and advocate Ram Jethmalani and others seeking a direction to the government for taking action to bring back money stashed in foreign banks.
Raising the issue of black money stashed away in foreign banks, BJP's Prime Ministerial candidate L K Advani on Wednesday said that if the money is routed back to the country it could be used for development work.
With private and foreign banks scaling down their lending activity and equity and overseas sources of capital drying up, the total flow of resources to the commercial sector has dropped by nearly 20 per cent till the end of February.
Radha Timblo, a Goa-based miner whose name figures in the black money list submitted in the Supreme Court, on Monday said she needs to study the government's affidavit before commenting on the issue.
Rajkot-based bullion trader Pankaj Lodhya, who has been named by the Centre in an affidavit filed before the Supreme Court in the black money case, on Monday denied having a foreign bank account and said he was shocked to find his name in the list.
India imports 1.2 billion barrels of oil, and oil prices are falling, falling...
He raised the issue while mocking at the excavation being conducted by the Archaeological Survey of India in Unnao in Uttar Pradesh after a saint said he had dreamt about 1000 tonnes of gold being underneath at a place there.
PSBs' gross NPA ratio may decline to 12 per cent by March 2019 in the baseline scenario, whereas private banks' gross NPA ratio may decline from 3.7 per cent to 3.2 per cent in March 2019.
All India Bank Employees' Association (AIBEA) has announced a list of top 50 loan defaulters, mainly the corporate firms, whose total default amount to the banks is allegedly to be around Rs 40,528 crore.
With foreign banks registering a paltry 4 per cent growth in credit advances for the financial year up to March 27, 2009 and private sector banks not doing much better at 10.9 per cent, the extent of credit slowdown is marked in these banks.
They face two key challenges - manpower and capital. Sadly, these are not on the agenda for reform
Such cold-shoulder by banks also indicates a credit freeze that is hard to overcome, unless the government comes out with credit guarantee schemes for loans given by banks. Since that is not happening, and there is no indication of that too, banks are not willing to listen to RBI prodding.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
RBI has already come out with a discussion paper on banking sector in India, on which the regulator has invited comments from stakeholders.
The RBI had raised the issue with thegovernment, stating that foreign banks buying majority stakes in non-deposit-taking NBFCs (NBFC-ND) would provide room for regulatory arbitrage.
Although dealing rooms were operational, apart from some big banks, most refrained from trading as there were no retail flow
Under the CECA, signed between India and Singapore in June 2005, Singapore has committed to award three qualified full bank (QFB) licences to three Indian banks while India had agreed to give three Singaporean banks free access to the Indian banking
The number of customer complaints per 1,000 accounts, excluding credit cards, for foreign and new private sector banks at 0.61 and 0.33 is higher than that for old private- and public sector banks at 0.05 and 0.07, respectively.
The RBI in November released a framework for large foreign banks with more than 20 branches to convert into wholly owned subsidiaries.
Eminent lawyer and Rashtriya Janata Dal MP Ram Jethmalani on Sunday said he felt "guilty" and "cheated" for helping Prime Minister Narendra Modi who failed to deliver on his promise of bringing back blackmoney stashed abroad.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
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