The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
RBL Bank's interim chief executive officer (CEO) and managing director (MD) Rajeev Ahuja on Sunday tried to allay concerns around the health of the bank. He said events during the weekend are not linked to RBL's asset quality. The bank said Vishwavir Ahuja, its managing director (MD) and chief executive officer (CEO), had on Saturday proceeded on leave with immediate effect on medical grounds.
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
'The pride of the devoted Seinfeld fan is that he happens to love a show that doesn't take his love for granted, so that even on repeat viewings he is never really sure what directions an episode might take,' observes Sreehari Nair.
It is clear to any observer that the BJP risks its demolition drive boomeranging on itself. Except for one unpredictable factor in the works -- Rahul Gandhi himself, observes Shyam G Menon.
BharatPe co-founder Shashvat Nakrani has accused Ashneer Grover, with whom he had co-founded the payment startup, of creating a false narrative about the company, and said the board acted quickly and decisively in unseating him after receiving finds of a PwC report. BharatPe, which allows shop owners to make digital payments through QR codes, last week stripped Grover of all titles and positions over his alleged "misdeeds" and may take further legal actions, including clawing back of some of his shareholding. In a letter to employees, Nakrani said the Grover episode was an aberration and not the norm at BharatPe, and went on to defend the board who he said were celebrated names in the banking and financial services industry.
Even as the media continued to dig the dirt on members of Team Anna (with a little help from politicians and political parties) Congress chief Sonia Gandhi in her reply to Anna Hazare has assured him that she does not 'support or encourage the politics of smear campaigns.'
A UK Judge on Friday stated that the ruling in fugitive diamond dealer Nirav Modi extradition case will be made on February 25. The extradition trial of Nirav Modi has concluded today at Westminster Magistrates' court in London. District judge Samuel Goozee confirmed the timeline. Nirav Modi, who is wanted in India for allegedly defrauding Punjab National Bank (PNB) of an estimated $2 billion, was re-remanded on December 1 by a judge at Westminster Magistrate Court in London.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification. However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in a notification dated May 13. "The export policy of wheat ... is prohibited with immediate effect...," the DGFT said. It also clarified that wheat exports will be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.
The Reserve Bank of India (RBI) on Wednesday gave banks time till October 31 to comply with its guidelines on current account and overdraft facilities. The central bank indicated that it was in no mood to change the proposed rules, but would only allow for stretching the timeline for smoother implementation. The initial deadline had ended on July 31, leading to thousands of current accounts being closed or frozen by banks. Lenders had requested the RBI for some more time to resolve the operational issues in implementing the provisions of the August 2020 circular in letter and spirit.
With Goods and Services Tax (GST) officers under pressure to exceed the Rs 1-trillion collection mark per month, industry has faced a barrage of recovery notices and summons issued over the last one month across sectors, according to company executives. Industry bodies have claimed harassment by field officers, blocking of input tax credit, cancellation of GST registration, threats of arrest and steep penalties, impacting their working capital and operations. Company executives pointed at an atmosphere of apprehension and fear due to such notices and summons.
The AIKS, a key member of the "Samyukta Kisan Morcha" that is spearheading the "Dilli Chalo" agitation against the three farm laws, asserted that no farmer organisation approached the court in the first place and asked for its intervention in the matter.
The Reserve Bank of India also banned with immediate effect issuance of letters of comfort which, like LoUs, are used by importers to fund their overseas purchases.
BAI General Secretary Ajay Singhania said that BAI is in receipt of the letter from the shuttler.
'They want us to win in every match, like in cricket.' 'It's so tough to play every tournament and win.'
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
Malik was shot dead in Surrey, British Columbia on Thursday. Malik and co-accused Ajaib Singh Bagri were acquitted in 2005 of mass murder and conspiracy charges related to the two bombings in 1985 that killed 331 people, the CBC News said.
India has helped the world discover the true potential of democracy and the keyword for the country today is compassion for the downtrodden, needy and those on the margins, President Droupadi Murmu said on Sunday.
Amid debate whether the Centre's decision to provide free COVID-19 vaccine to all above 18 years was triggered by the Supreme Court's recent remarks on the jab policy, a class Vth student of Kerala, Lidwina Joseph, has written to Chief Justice N V Ramana lauding the top court for its effective intervention and saving lives in the fight against pandemic.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
'No matter how big the name, no one lives forever; like medicines, we come with an expiry date.' 'But, in the short time that we have, we try to make something that will stay on long after we are gone.'
'This letter is not a complaint, it's more indignation, because we do not like being used as political tools by people of various parties.'
'It was more than ego.' 'It carried with it a sincere belief that he was the quintessence of the country, that the country's destiny was irrevocably intertwined with his destiny.' An excerpt from T J S George's The Dismantling of India: In 35 Portraits.
'We have not decided yet if we will be joining hands with the BJP and, if so, what kind of ministries will be distributed among the rebel MLAs'
President Gotabaya Rajapaksa on Monday fired Basil Rajapaksa from his post and invited the Opposition parties to join a unity Cabinet to tackle the raging public anger against the hardships caused by the economic crisis.
Land attachment and auction is being undertaken by banks that are controlled by the RBI, Gehlot said, urging the Centre to waive farmers' loans.
There was no postal intimation to unitholders who didn't have a registered email address, according to a letter that Midas Touch Investors Association sent to Sebi.
Here's the full text of the maiden address to the nation by President Droupadi Murmu on the eve of Independence Day 2022.
Waze's letter claimed that in January 2021, another state minister Anil Parab asked him to look into an inquiry against "fraudulent" contractors listed in the BMC and collectat least Rs 2 crore from about 50 such contractors.
Amazon has asked Sebi to suspend its review of the Rs 24,713 crore Future-Reliance deal and not grant a no objection certification on the ground that its challenge to the agreement was before the Delhi high court. E-commerce major Amazon has written to Sebi again, this time apprising it about the admission of its appeal before the division of the Delhi high court and urged the market regulator to suspend the review of the Future-Reliance Industries Ltd (RIL) deal. This is the eighth letter by Amazon to the Securities and Exchange Board of India (SEBI) chairman Ajay Tyagi since late October. Amazon has been opposing Future group's pact with billionaire Mukesh Ambani's RIL that was signed in August last year.
In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
The Reserve Bank of India (RBI) recently said no entity in the card transaction or payment chain, apart from the card issuers and card networks, will be allowed to store sensitive user data from January 1, 2022. Instead, in transactions card data will be converted to tokens.
NTPC has served notice of power suspension from February 11 to BSES Rajdhani, an electricity distributor in the national capital, due to payment issues.
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
Vipul Chitalia was apprehended at Mumbai airport and brought to the CBI office at the Bandra-Kurla Complex in Mumbai for questioning, he said, but did not divulge any other details about Chitalia's alleged role in the PNB fraud.
The criticism that the Reserve Bank of India was behind the curve in hiking interest rate to tame rising inflation is unfair, former RBI Governor D Subbarao said on Wednesday and asserted that it is difficult for any central bank to anticipate the future more accurately. Earlier this month, Monetary Policy Committee (MPC), the central bank's rate-setting panel, surprised the markets with a 40 basis points hike in repo rate in an off-cycle policy meeting. It was also the first rate hike after August 2018, amid spiralling inflation.
'Communalism was the biggest enemy of a free society and Bhagat Singh imagined a future without it. Did we succeed in bringing alive such a future?'
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