The oil spill in the Gulf of Mexico and the Bhopal tragedy have brought back into focus the issue of industrial accidents, contractual liabilities and questions of operator liability, notes Manoj Kumar and Lydia Powell in an Observer Research Foundation study, which will be published in a three-part series. Here goes the first part:
In the second part of a three-part series, Manoj Kumar and Lydia Powell, in an Observer Research Foundation study, discuss at length the various loopholes in the Nuclear Liability Bill, whose amended version was recently passed by the Lok Sabha.
Total liabilities of the government increased to Rs 107.04 lakh crore at end-September 2020 from Rs 101.3 lakh crore at end-June 2020, official data on public debt showed on Wednesday. This represented a quarter-on-quarter increase of 5.6 per cent in Q2 FY21. Public debt accounted for 91.1 per cent of total outstanding liabilities at end-September 2020, as per the latest quarterly report on public debt management.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
'We may see little softness in liquidity position after the stabilisation of the government.'
The government has finalised the much-awaited rules of implementation of the nuclear liability law, a move that could pave way for the expansion of the atomic power sector by procuring equipment from foreign suppliers. "A PMO committee has approved the rules of implementation of the civil nuclear liability law. We will notify the rules within a month," V Narayanasamy said. The Civil Liability for Nuclear Damage law was passed by Parliament last year.
The Supreme Court on Monday referred to a five-judge Constitution bench a suit filed by the Kerala government raising the issue of ceiling on net borrowing.
With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24). Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts' estimates. According to Motilal Oswal Securities, while bank credit growth has been robust, deposit growth has also gathered pace.
The State Commission concluded the insurer could not take advantage of a typographical error on the bank's part to repudiate a legitimate claim, points out Jehangir B Gai.
'Isn't it obvious? Do you have a doubt? There is so much data that shows that there is quid pro quo.' 'There are many instances of donations being given after the raids, donations being given before the award of a contract and many other permutations and combinations.'
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
One common mistake investors commit during profit booking is not having a plan for the redeployment of the money that comes into their account.
The 21st AGM of the company is scheduled to be held in Mumbai on Friday.
The Dow Chemical Company, which owns Union Carbide Corporation, on Tuesday said the Indian government had "fully released" UCC and its subsidiary in Bhopal from any civil liability for the 1984 gas tragedy.
'As these segments are growing at 25 per cent for the last three years, credit quality has been extremely good.'
Pitching for enactment of a law to fix civil damages caused by nuclear accidents, Atomic Energy Commission Chairman Srikumar Banerjee said neither the Indian Environmental Protection Public Liability Insurance Act, 1991, nor the Indian Atomic Energy Act had provisions for damages caused due to war or radioactivity.
Longer-tenure FDs generally give higher returns. Nonetheless, going for a tenure higher than two to three years is not advisable.
In a significant message to the business lobby in Washington, the Union Cabinet on Thursday gave its nod to the Civil Nuclear Liability Bill.The move will encourage the nuclear power plant manufacturing companies, which have been eyeing the Rs 60,000-crore plus market in India, for the next 5-10 years. According to sources, the government will fix the civil liability at approximately Rs 2,400 crore for the manufacturers.
'We are committed to achieving the targets we had outlined.'
Cyber crimes caused by the insured's employees also get covered under the policy but would exclude the actual perpetrator.
The Reserve Bank has permitted PNB to make provisions against the fraud amount.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
United Kingdom-headquartered pharmaceutical giant AstraZeneca (AZ) has admitted that in 'very rare cases' its Covid vaccine can cause a blood clot related side effect but the causal link is unknown, according to court papers being quoted in the UK media.
The need for money among banks, especially for short-term funds, may turn more intense in the last month of the financial year to feed the demand for capital for tax payments and meet year-end targets. The mobilisation of funds via the certificate of deposits (CDs) has seen a threefold increase to over Rs 60,000 crore in the fortnight that ended February 23 from around Rs 20,000 crore in the fortnight of January 26, 2024, according to the Reserve Bank of India (RBI) data.
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
A husband has no control over his wife's 'stridhan' (woman's property) and while he may use it during the time of his distress, he has a moral obligation to return it to his wife, the Supreme Court has reiterated while directing a man to pay Rs 25 lakh to a woman in return for her lost gold.
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While the cap on liability is lower than in several other countries, few producers, including those in India, will supply nuclear power equipment without such a bill -- raising the caps is an obvious solution.
The Income Tax Department has notified ITR forms 1 and 4, which are filed by individuals and entities with annual total income of up to Rs 50 lakh for FY 2023-24 (AY 2024-25). Individuals, besides Hindu Undivided Families (HUFs), firms having income up to Rs 50 lakh and those having earnings from business and profession in the current fiscal (April 2023-March 2024) can start filing returns for the income earned this financial year.
The case dates back to August 2017 when the Income Tax department had carried out searches at multiple premises in Delhi as part of its alleged tax evasion probe against Shivakumar, his alleged business associate and liquor trader Sachin Narayan, another associate Sunil Kumar Sharma who operated a fleet of luxury buses, Karnataka Bhawan (Delhi) employee A Hanumanthaiah and former state government employee and caretaker posted at the Karnataka Bhawan Rajendra N.
The Delhi high court on Tuesday permitted the mother of a Kerala woman, who is on death row in Yemen for killing a Yemeni national, to travel to the West Asian country to negotiate about blood money with the victim's family and save her daughter from the gallows.
HDFC Bank's market capitalisation (market cap) touched Rs 13 trillion in Thursday's (December 28, 2023) intra-day trades as the largest private sector lender is set to report its sharpest monthly rally in the past two years. At 10:33 AM; HDFC Bank's market cap stood at Rs 13.03 trillion, the BSE data shows. The stock was up 1 per cent at Rs 1,717.90 in intra-day trades on December 29, inching towards its record high of Rs 1,757.80 touched on July 3, 2023.
'Planning for the transfer of assets to the next generation is an important aspect of financial and estate planning.'
The Reserve Bank of India's (RBI's) decision to withdraw the incremental cash reserve ratio (I-CRR) is expected to benefit banks during the festival season. They are likely to increase deposit rates by up to 25 basis points (bps) in select maturity buckets. The rise in demand for funds to cover tax payments and meet quarter-end business targets could influence rate decisions by banks, according to bankers and money market executives.
With India's inclusion in global bond indices starting next financial year, the central government believes there will be greater scope for shifting to borrowings via long-term government securities (G-sec) from short-term instruments. This change may be factored into the FY25 interim Budget. "While this has been our focus, the inclusion of India in global bond indices gives us the opportunity to accelerate the shift towards longer tenure G-secs," an official said, requesting anonymity.
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
An obviously chagrined United States-India Business Council, which has lobbied feverishly for the passage of the US-India civilian nuclear deal in the US Congress, on Monday issued a guarded reaction to the passage of the nuclear liability bill in the Parliament that had 'compromised on the indemnity clause demanded by American companies to protect it from liability in case of a nuclear accident.'
Ending months of wrangling between treasury benches and the opposition, the Lok Sabha on Wednesday passed the civil nuclear liability bill after government dropped the contentious provision of 'intent' in the case of accident adopting a Bharatiya Janata Party amendment, paving the way for nuclear commerce with the world.
Bowing to pressure from the Bharatiya Janata Party and the Left parties, government on Friday dropped a controversial addition in the civil nuclear liability bill which the Opposition said diluted the liability of suppliers for accidents caused by their negligence.
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