Jaishankar maintained that New Delhi is engaged with Beijing in defusing tension through diplomatic channels.
Noted banker Uday Kotak said the country's financial system is currently in a Darwinian mode as only the fittest lenders are able to survive. Kotak also said that historically, whenever there has been a problem with a private sector lender, it has been merged with a state-run bank.
The Essel group founder, Subhash Chandra has settled 91.2 per cent of his debt with 43 lenders, and the remaining dues are in the process of being paid. "I am happy to report that we have come out of the financial stress situation by settling 91.2% of our total debt to 43 lenders in 110 accounts. "About 88.3% of the amount has been paid, while the remaining 2.9% is in the process of being paid. "We are making all the required efforts to settle the remaining 8.8% of our total debt.
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
He said there would be progress on some issues soon while it will take time for progress on others.
He said the 2 countries have handled border issues in the past.
If the policy is extended to NBFCs and co-operative banks, they will have to disclose divergence in asset classification and provisioning during RBI inspections in their audited financial reports. Till now, these entities have been exempted from this. At present, there are more than 98,000 co-operative banks and 10,000 NBFCs. Sources said the RBI would concentrate on the top 50 co-operative banks and NBFCs.
The foreign secretary-level talks between India and Pakistan "failed" to break the stalemate and did not produce any significant measure of forward movement, the Pakistan media said.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
Sebi has allowed mutual fund schemes the option of 'side-pocketing' which move will help both fund houses and investors.
"We are ready to evaluate purchase for any additional shares including from the IndusInd Bank. But, our headroom is about four per cent. We will keep our holding below 25 per cent," Dabur India Vice Chairman Mohit Burman told PTI from Greece on Sunday.
Following is reaction to the 2022 FIFA World Cup draw, which was held at the Doha Exhibition and Convention Center in Qatar on Friday.
The move by the central bank follows concerns over tight liquidity conditions and banks' unwillingness to lend to NBFCs.
Making the first effort to bridge the trust deficit between the two countries, Foreign Secretaries of India and Pakistan discussed all issues of mutual concern with New Delhi flagging its core concern of terrorism emanating from that country on Thursday.
The NSE Nifty gained 77.85 points, or 0.71 per cent, to finish at 11,008.30. Intra-day, it shuttled between 10,821.55 and 11,035.65.
India on Wednesday hit out at China for demanding "solid evidence" for getting Jaish-e-Mohammed chief Masood Azhar banned by the United Nations
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
India and Pakistan on Tuesday discussed each other's 'concerns and interests' with Foreign Secretary S Jaishankar raising the issue of terror.
'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
These funds have lowered the entry barrier for investors who can now invest with just Rs 5,000, points out Sanjay Kumar Singh.
With liquidity crunch hitting operations, many finance companies have put the brakes on sanctions in the third quarter in the aftermath of the IL&FS crisis.
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
Rediff.com was first to break the news of Jaishankar's extension hours before it became public.
Deloitte India would not provide non-audit services to all listed companies and other entities where public money is involved such as banks and insurance companies, if they are its audit clients.
Ahead of his talks with his Indian counterpart Nirupama Rao, Pakistan Foreign Secretary Salman Bashir will be meeting leaders of various separatist outfits from Kashmir over the next two days.
India is likely to put before Pakistan a set of specific demands related to tackling terrorism when their foreign secretaries meet next week, and Delhi's political circles believe that its response will determine the future course of such talks. Expectations from the talks between Foreign Secretary Nirupama Rao and her Pakistani counterpart Salman Bashir, to be held in New Delhi on February 25, are 'realistic', informed sources said.
Foreign Secretary Ranjan Mathai on Wednesday met United States Secretary of State Hillary Clinton and held a series of meetings at the State Department and the White House on a range of bilateral, regional and global issues.
It can be noted that ever since Satyam Computers scandal came out in January 2009, the audit world, especially the Big Four, have been under fire from the regulators.
Stemming from the default of IL&FS in September, on various debt instruments including commercial papers, bonds and loans, the financial sector has been facing a liquidity crunch for the last eight to ten weeks.
Investors should take limited exposure in credit risk funds.
Since Pakistan is in the middle of an intense regional and internal issue, the Rao-Bashir talks are not the "major attraction" in Islamabad, reports Sheela Bhatt from the Pakistani capital
In an apparent response to India's move to focus on fresh evidence linking the Inter Services Intelligence to the Mumbai terror attacks during the foreign secretary-level talks, Pakistan on Wednesday said it was imperative to address the "core issue" of Kashmir in the upcoming dialogue. Pakistan's stand was formulated during a meeting between Foreign Secretary Salman Bashir and representatives of the Kashmiri leadership. Bashir met the leaders for consultations.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
Reacting to the ED's summons to Raj, his estranged cousin and Shiv Sena chief Uddhav Thackeray, in an intriguing comment, said he did not expect any 'solid outcome'.
NCW data show a noticeable rise in sexual harassment at the workplace.
Punjab National Bank joined hands with the Infrastructure Leasing and Financial Services for setting up a private equity fund for investing in domestic companies mainly in telecom, oil and gas, ports, water supply and surface transport segments.
Besides reflecting an "essential continuity" to the ties, the visit will also provide another opportunity to consolidate all that have been built by two countries in the past decade, Foreign Secretary Nirupama Rao said while addressing a gathering in New Delhi.
The move is aimed at protecting investors from parking their money in dubious schemes.
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