These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
"Now I get credit for the idea which actually I neither invented nor actually believed in," he said.
If Mumbai's Zaveri Bazaar is full of jewellery shops and Delhi's Chandni Chowk has got hundreds of saree merchants vying for customers' attention, Zurich has got a street full of Swiss banks -- known for their secrecy veils.
The decision was taken at the State Bank of India headquarters in Mumbai on Monday when the top managements of the lenders met.
Ratnesh Mathur remains a crucial link in learning about the legendary singer-songwriter Leonard Cohen's India years, even assisting in research for a definitive biography by Sylvie Simmons, says Ranjita Ganesan.
Christine Lagarde warned of a repeat of high market volatility.
Intimate getaways offered in the form of homestays by hotels are proving to be the flavour of this extraordinary and difficult time. Not far from cities, they offer a pleasant respite from homebound lives, says Pavan Lall.
Bankers back the new bankruptcy code, which would impose debt deadlines on failed firms and foresees up to five years in jail for debtors who conceal property or defraud creditors
Union Minister of State for IT and Communications Milind Deora will be taking on Shiv Sena, Maharashtra Navnirman Sena and Aam Aadmi Party candidates as he tries to win the South Mumbai seat for the third time in the forthcoming Lok Sabha elections.
He said the 'toxic combination of deep distrust, pervasive fear and a sense of hopelessness in our society' is stifling economic activity and growth.
'Politicians's slogans on social distancing, showered like petals from their ivory towers, mock every single moment of pain and distress imposed on the vulnerable down below, at migrant labour stuffed like chickens on goods trucks, trying to get home at all costs,' observes Veenu Sandhu.
Official is accused of taking a bribe of Rs 2 cr to issue order in an appeal favouring Balaji Trust
'PNB had confirmed compliance with the RBI's prescription in its circular of August 3, 2016, which has now turned out to be factually incorrect,' Minister of State for Finance Shiv Pratap Shukla said in Rajya Sabha on Tuesday.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is. The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
Joy Thomas stated that one large account -- HDIL -- was the sole reason for the present crisis that led to the regulatory action on Tuesday when Reserve Bank of India superseded its management and placed it under an administrator for the next six months.
Draft prospectus to be filed next week; second trust, with Panchshil, in a few months
'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
Banks are also weighing the option of hiring experts for help in specialised areas.
With retailers downsizing operations, many senior executives from fast-moving consumer goods and telecom who had jumped on the retail bandwagon a couple of years ago are making a quiet comeback.
"The government has always believed in stable policies. I am sure that this will continue in the coming budget," ICICI Bank's non-executive chairman, K V Kamath, told reporters on the sidelines of a function organised by the Institute of Chartered Accountants of India in Mumbai.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
Low-cost air carrier SpiceJet is looking at ways to raise around $75 million (Rs 335 crore). The airline has given the mandate to IDFC-SSKI for raising funds through preferential allotment of shares and strategic sale. "IDFC-SSKI is working on it and the money will be raised through both preferential allotment of shares and strategic sale," said a Mumbai-based investment banker, who is associated in this deal.
Bankers of HPL too have endorsed the idea and are pitching hard for the chairmanship of Chatterjee.
With retailers downsizing operations, many senior executives from fast-moving consumer goods and telecom who had jumped on the retail bandwagon a couple of years ago are making a quiet comeback.
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
This is not a new or unknown problem, but every time it crops up, our policy-makers have tried to wish it away. In the present circumstances too, the government has stopgap arrangements. It is borrowing from the World Bank (that's window-dressing fiscal deficit), says Ajit Ranade.
American intelligence agencies believe that they have killed Sheikh Said al Masri, alias Mustafa Abu al Yazid, Al Qaeda's no. 3 leader, in a recent missile strike in a tribal area of Pakistan. The New York Times quoted a United States administration official as saying that al-Masri was the terror network's main conduit to leader Osama bin Laden. He further said that as Al Qaeda's chief operating officer, he played a role in everything -- from finances to operational planning.
Veteran banker Vikram Limaye will soon leave BCCI's Committee of Administrators to head the National Stock Exchange (NSE) and that will a big loss to the the already trimmed panel, said COA member Diana Edulji.
The young Sarosh may not have been rich but what he did possess was ambition and determination to become a judge. He became counsel for the income tax department in 1974, aged 27. He also appeared for the then Bombay Municipal Corporation in matters concerning rateable value and octroi. He represented the Maharashtra government and several public sector undertakings until he was appointed a high court judge.
The Rs 19,100 crore 'Indian film industry' is more than its monikers for three simple reasons, feels Vanita Kohli-Khandekar.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
A communication goof-up between Vijay Mallya-promoted Kingfisher Airlines and its banker saw a cheque of Rs 12,975 bounce, much to the embarrassment of the country's largest private carrier, which promptly arranged a bank draft for the recipient.
Property developer Indiabulls Real Estate is talking to investors to raise at least $150 million (Rs 750 crore) from sale of shares to select investors as part of its qualified institutional placement (QIP) plan.
As liquid tightening measures were likely to be temporary, any change in lending rates would depend on the length of these measures, according to bankers.
"The situation is bad. Some people are leaving and some are being asked to leave. And more important, several positions are remaining vacant. The selected candidates for these posts are not coming," said an associate, as the employees are called. "There is talk now that the new company, whichever that is, will cut at least 10,000 jobs gradually. We are praying that this is unfounded," a senior associate said.
In a recent awards event, industrialist Rahul Bajaj said that India Inc was afraid of criticising the Narendra Modi government, The comment drew flak from Finance Minister Nirmala Sitharam who said spreading one's own impression "can hurt national interest".
Fadnavis assured them of transferring land rights within the next three months.
