'They are afraid that if they approach a police station for filing a complaint they might themselves get arrested under some random charges.'
The RBI has announced its credit policy last week and auto financiers believe that consumers should 'wait and watch' before the interest rates on auto loans settle down.
After Congress questioned the logic of the $1 billion loan to the Adani group, the Communist Party of India (CPI) on Friday joined issue demanding RBI's intervention in the matter.
AC Milan are still interested in Manchester City forward Carlos Tevez but only want to sign players on loan in the January transfer window, chief executive Adriano Galliani said on Monday.
Raising the issue during Zero Hour, he said SBI has signed an MoU pledging one of the single largest loans to a corporate house despite five international banks refusing to lend to the Adani project.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
To contain rising bad loans, the Reserve Bank on Tuesday proposed a slew of measures, including incentives to lenders for coming together and tackling an account timely and penalising borrowers with higher interest rates in future for not cooperating for a resolution.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
Banks and insurers are beginning to reward customers who show exemplary conduct with lower prices and penalise those who behave poorly by imposing higher costs.
The non-watchlist stress emanated from over five year-old loans in the iron and steel, infrastructure and construction sectors.
Pre-Budget excercise next month should scrupulously avoid adventurism of all types and refrain from making excessively ambitious projections on revenue and expenditure numbers for 2023-24, suggests A K Bhattacharya.
Seventy two years ago, a newly independent India ventured to hold the the first Asian Games in Delhi with meager resources.
The Supreme Court on Friday dismissed a plea by beleaguered businessman Vijay Mallya challenging the proceedings in a Mumbai court to declare him a fugitive economic offender and confiscate his properties. The apex court dismissed the petition for non-prosecution after the counsel representing Mallya submitted that he was not getting any instructions from the petitioner in the matter. "The counsel for petitioner states that the petitioner is not giving any instructions to the advocate for the petitioner.
Embattled businessman Vijay Mallya on Tuesday lost a legal battle to hold on to his plush London home after a British court refused to grant him a stay of enforcement in a long-running dispute with Swiss bank UBS. The 18/19 Cornwall Terrace luxury apartment overlooking Regent's Park in London, described in court as an "extraordinarily valuable property worth many tens of millions of pounds", is currently being occupied by Mallya's 95-year-old mother Lalitha. Delivering his judgment virtually for the Chancery Division of the High Court, Deputy Master Matthew Marsh concluded there were no grounds for him to grant further time for the Mallya family to repay a 20.4-million loan to UBS - the claimant in the case.
Don't recharge your phone at public outlets -- carry a power bank instead. Avoid clicking on links sent by 'friends'. If you get into an online sexual encounter with a stranger and get blackmailed, refuse to pay up.
The lawyer of Videocon Group promoter Venugopal Dhoot on Friday argued before the Bombay high court that the industrialist's arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the probe. The Central Bureau of Investigation (CBI), on the other hand, claimed that he was trying to avoid probe. Dhoot, arrested by the CBI on December 26, 2022, and presently in judicial custody, has moved the high court seeking to quash the First Information Report, and has also sought interim bail.
They claimed that though they had repaid Rs 2.50 lakh to Panchayat, the caste body demanded Rs 6 lakh to 'settle the outstanding amount' which the couple refused to pay, prompting the panchs to ostracise them.
If his attempt to have his appeal heard in the Supreme Court fails, in principle, Modi can apply to the European Court of Human Rights (ECHR) to try and block his extradition on the basis that he will not receive a fair trial and that he will be detained in conditions that breach Article 3 of the European Convention on Human Rights, to which the UK is a signatory.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
On the implementation of the old pension scheme, Baghel said Rajasthan and Chhattisgarh have written to the Central government to return the people's money with the National Pension System to implement the old pension scheme, but they refused.
He also said a total of Rs 38.75 crore, deposited by people in the Karavannur Cooperative bank in this district, which is now facing charges, had already been returned.
The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
Responding to a discussion in Lok Sabha on the situation in Ukraine, Jaishankar said the Ukrainian government too has offered relaxation for students for taking two key examinations in their medical education courses.
The diamantaire's counsel said there is a vigilance manual circular that the consortium can lodge only one FIR. Each consortium member cannot lodge separate FIRs, he said.
I-T dept refuses to unfreeze a/cs; airline curtails operations; SBI, other bank stocks take a knock
Mallya offered to pay Rs 4,000 crore (Rs 40 billion) as settlement.
A police official said the woman was injured in her abdomen and a hand and has been rushed to a hospital while the accused managed to flee.
The cement plants at Barmana (Bilaspur district) and Darlaghat (Solan district) had closed operations on December 14 due to the dispute between the company and truckers engaged in the carriage of cement and clinkers. According to a government statement, Chief Minister Sukhvinder Singh Sukhu said, "We have arrived at consensus, thereby protecting the interests of both the truck-operator unions and the management, besides welfare of all others who were being directly or indirectly hit by the stalemate."
For all its claims to economic glory, the majority of India's population lives vulnerable lives, a situation that has only worsened over the past 15 years, to the extent that the government now fears to release economic data or even conduct a proper Census, notes Rathin Roy.
Mallya's Kingfisher Airlines has been accused of defaulting bank loans of over Rs 9,400 crore.
Britain's BBC faced a mounting crisis as a row over football presenter Gary Lineker's criticism of government migration policy led to a presenter mutiny.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
Sources in the Delhi government said the ministry of home affairs has stopped the Kejriwal government's budget and it will not be tabled in the assembly on Tuesday.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
Public sector banks' need for capital should be used to make fundamental reforms to their governance and management.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
