A special court in Mumbai on Saturday remanded ICICI Bank's former CEO and MD Chanda Kochhar and her husband Deepak Kochhar in the custody of the Central Bureau of Investigation (CBI) till December 26 in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies. The Kochhars were arrested by the probe agency on Friday night after a brief questioning session. The CBI has alleged that they were evasive in their response and did not cooperate in the investigation.
The crisis in Indian banking has now reached a point where the NPAs of many public-sector banks are higher than their net worth
HAL's HTT-40 aircraft have outperformed both Swiss Pilatus planes and the IAF's performance criteria. Why then does the IAF prefer the Pilatus to the HTT-40?
India has a 'natural global partnership' with US, says PM.
The defence ministry needs to focus keenly on "Made in India" projects without being distracted by "Make in India" slogans, says Ajai Shukla
It was decided that the senior-most Army officer in a state would get in touch with the chief minister to understand the requirement and take forward the process, including offering to treat civilians wherever possible
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.
Led by Ajay Shriram, chairman and senior managing director, DCM Shriram, the CEO's delegation seeks to convey to their American counterparts the sense of optimism amongst Indian industry.
Asia's richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT - the programme that trawls vast amount of information to generate natural-sounding text on virtually anything - from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. "From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders," he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI.
Python-5 missile live firing was conducted to validate target engagement from all aspects as well as beyond visual ranges. In all the live firings, missile hit the aerial target.
After spending 40 years in the Indian Army, Lieutenant General Subrata Saha marches into the electoral battlefield as the BJP candidate from Rashbehari.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
The Indian Naval Fast Attack Craft (INFAC T-82) can be used in counter insurgency, anti-smuggling, search and rescue operations too.
Agniveers once enrolled into the Indian Air Force, will be governed under the Air Force Act 1950, for a period of four years.
According to sources in the Bengaluru-headquartered space agency, under the Department of Space, delivery of hardware by the industry was hit due to the lockdown imposed in several States to contain the pandemic in recent months.
'What's on offer for India is to establish a production line here that would be the world's only production line.'
For the defence ministry, Aero India 2021 is an opportunity to show its commitment to the prime minister's 'Atmanirbhar Bharat' initiative.
The Scorpene submarine does not have enough firepower; it will share 64 obsolescent SUT torpedoes till the Indian Navy is supplied with 100 heavyweight torpedoes -- a process that could take more than two years to complete
Taken by surprise by the decision of an Italian judge to include Defence Minister A K Antony as a possible witness in a trial relating to corruption in the Rs 3,600 crore AgustaWestland chopper deal, India on Monday night ruled out his appearance in the court.
Gen Pande said India will have to especially watch out for the stance of its two adversaries in the emerging geopolitical scenario, in an oblique reference to China and Pakistan.
The Indian GM trails the Russian by a point in the eight-round Hotel Ilapuram Grandmaster chess tournament.
The prime minister must clear his stand on the Rafale deal after Hollande's remarks, he said.
'The greatest loss from replacing the 126 Rafale proposal with the 2016 contract for 36 Rafales might not be the extra money paid, but the opportunity that India's aerospace industry lost of obtaining access to critical aviation technologies and manufacturing skills.'
Even as Union ministers allay misgivings over Agnipath, figures show a meagre 2.4 per cent of the ex-servicemen who applied for a government job could get one as the Centre and the states have been unable to recruit against the reserved quotas. Public sector undertakings (PSUs), ministries, and officials of Sainik Boards have blamed it on the lack of skill among ex-servicemen. They say veterans' inability to qualify in selection exams is one of reasons for this. Also, non-recognition of qualifications obtained from the military are reasons why their recruitment has remained significantly low, pushing them towards low-skill jobs.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
Administration is an evolving process, requiring the civil service to constantly re-invent itself to meet new challenges. The administration must become accountable to the law of the land and to the people.
In the past, India strongly rejected references made to Jammu and Kashmir in a previous joint statement by Pakistan and China.
Nearly a decade ago, the first fully electric vehicle (EV) caught fire on the road in the US. It was a model from Tesla, the world's most admired EV maker. A metal fragment punctured the underbelly of the vehicle, penetrating its battery pack, leading to a fire. Indian lawmakers and automakers have had nine years to study the incident (in fact, three Tesla Model Ss caught fire in two months in 2013) but seem to have learnt little.
On Day 2 of Parliament's monsoon session 2020, Defence Minister Rajnath Singh is likely to make a statement on the continuing standoff between Indian and Chinese troops along the Line of Actual Control in eastern Ladakh.
The 33 per cent drop in arms imports between 2015 and 2016 affected Russia the most, but India's imports of US arms also fell, by 46 per cent, the report points out.
43-year-old Pankesh Patel, managing director of a UK firm that acts as a sales agent for companies in law enforcement and military products industries, and two more Britons --David Painter (56) and Lee Wares (43)-- were among 22 people arrested, the US Department of Justice said. Wares is the chairman and director of a British company that markets armoured vehicles.
Companies are ranked by total revenues.
'If the Russian forces do capture Kyiv and set up some sort of provisional government, they might run into an insurgency, for which the geography is just right, it could prove costly for them.' 'In that event, the whole exercise could turn out to be counter-productive -- and costly in both foreign policy and domestic terms.'
'The attacks made clear to all the Gulf States that Pakistan was the nursery and sanctuary of extremist violence and that this violence threatened all the countries in the region.'
Kalvari underwent around 120 days of extensive sea trials and tests for various equipment and is expected to bolster India's maritime prowess.
The tank, designed, developed, and manufactured by the Defence Research and Development Organisation's Combat Vehicles Research and Development Establishment and made in Tamil Nadu, will be used to protect northern borders.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
