The NCLAT said the RBI cannot restrict it from prohibiting banks from 'asset classfication' and observed that any change in this order would upset the entire resolution process of the IL&FS
'Good economics isn't necessarily bad politics, or vice versa,' says Shekhar Gupta.
Only when the RBI inspection started on September 19 did they realise that their game was up and one of them had sent a letter to the central bank, leading to the RBI crackdown, report Anup Roy and Subrata Panda.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
Several of his lenders have a lot to answer for.
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
According to property consultancy firm Knight Frank, only 19 states and UTs have a functional portal in place, that too with a lot of information dissymmetry across data points
A glance back at some important events that occurred in 2018.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
The government has spent a little less than one-third of the Budget estimate of capital expenditure, it can still spend about Rs 20,000 crore this year without disturbing its fiscal deficit target.
Finance Minister Arun Jaitley has said that the states were free to announce farm loan waivers if they had the fiscal space and that there would be no shortfall this year in divestment and non-tax revenues.
'This year's Budget didn't give into populist measures everyone was expecting after demonetisation, so I think that was a positive step.' 'Hopefully the Budget will continue in the way it has been.'
The ruling by US Judge Steven Rhodes, who cited the city's dismal finances and $18 billion owed to a multitude of creditors in support of his decision, marks a watershed in the history of Detroit.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
With an aggressive Opposition and unyielding government, important legislation could be the biggest casualty, as details of the helicopter contract surface.
What we want from spectrum allocation is access to broadband networks at prices that will result in productivity gains.
Following is the full text of Prime Minister Narendra Modi's address from the ramparts of the Red Fort on the 73rd Independence Day.
A glance back at some of the important ups and down Indian Inc faced in 2018.
The Opposition on Monday charged the government with trying to promote crony capitalism, creating fear by giving "unbridled power" to taxmen, trying to snoop into people's lives through increased use of Aadhaar through the provisions of the Finance Bill.
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