Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
'We will infuse the next tranche of recapitalisation by mid-December. Close to Rs 42,000 crore remain to be infused as capital in public sector banks in the current financial year,' a senior finance ministry official said.
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
Maruti Suzuki India (MSI) plans to drive in CNG trims across its product range as it remains bullish over long-term prospects of the segment amid increase in fuel prices and drop in diesel car sales, according to a senior company official. The company, which sold around 1.62 lakh CNG cars last fiscal year, is also counting on the rapid expansion of CNG dispensing outlets across the country to bring in more CNG products. Bullish on the expansion of the sales network, the automaker expects its CNG car sales to almost double this fiscal year over 2020-21.
Exchanges have twin roles: commercial and regulatory.
A massive pan-India inoculation drive against COVID-19 was set in process on Tuesday with more than 56 lakh doses of the Covishield vaccine flown to 13 cities across India from Pune and taken to designated national and state-level stores amid tight security.
'India finds itself in an unenviable situation today with its prospects diminished by acutely polarised domestic politics and the setbacks suffered during the pandemic,' notes Ambassador Shyam Saran, the former foreign secretary.
Insider trading -- dealing in securities with prior access to unpublished price-sensitive information -- has been attracting regulatory attention worldwide.
The airline should have an accident/serious incident free record of operation.
Zero-coupon bonds don't give out interest but are issued at a deep discount to the face value, making it difficult to ascertain the net present value.
VIL has countered Trai's contention that the RedX plan, which commits higher speeds, should have been informed separately so different aspects could have been examined before such service was launched.
After setting stiff norms for unit-linked insurance plans, the Insurance Regulatory and Development Authority is planning to cap charges on traditional products within three months.
Indian businesses' weak ability to compete overseas says much about the infirmities imposed by the intensity of government dominance of economic policy and the nature of this dominance, observes Kanika Datta.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
The bi-annual financial stability report noted that failure of an NBFC with the maximum capacity to cause solvency losses to the banking system will lead to a loss of 2.5 per cent of the total tier-I capital of the banking system.
India wasn't applying widespread crash testing like foreign countries do, so manufacturers didn't see the need for an investment focus on safety. Customers rarely walked into showrooms asking for the safest car. They wanted the cheapest or the most fuel-efficient or the best-looking car.
The Insurance Regulatory and Development Authority had approved a minimum of two products per company filed in accordance with new unit-linked insurance plans norms, Irda Chairman J Hari Narayan said in a press conference here on Wednesday.
With the information and broadcasting ministry issuing showcause notices to several broadcasters, the government on Wednesday favoured a self-regulatory mechanism to monitor content that does not violate the laid down norms.
The company, which unveiled its compact multi-purpose vehicle Triber in India, is bringing the MPV only in petrol engine option as part of the strategy even as it prepares to introduce electric vehicles in the near future.
The FDI in pension sector would move in tandem with the insurance sector, official sources said, adding that the revised norms would be incorporated in the Pension Fund Regulatory Authority Bill expected to be introduced in Parliament during the upcoming Budget session.
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.
The Reserve Bank of India has imposed a monetary penalty of Rs 1 crore on Dhanlaxmi Bank Ltd for violation of its instructions.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
An alternative to a small car, it is expected to be priced ex-showroom between Rs 260,000 and Rs 300,000, and will offer better mileage (more than 30 km a litre) and less pollution than a car, and will be a convenient alternative to a two-wheeler but at the same operating costs.
Telecom regulator TRAI on Tuesday released a detailed consultation paper to discuss threadbare the modalities for auction of spectrum across multiple bands, including pricing, quantum and other conditions -- preparing the groundwork for 5G auctions slated for next year. Trai's comprehensive consultation paper runs into 207 pages and throws up 74 questions for industry-wide discussion, touching on crucial aspects like valuation and reserve price of spectrum, including 5G, quantum of spectrum, block size, eligibility conditions for participation in auction, roll-out obligations, spectrum cap, and surrender of spectrum. Norms will also be worked out for new frequencies such as 526-698 MHz and millimetre band, that is 24.25 - 28.5 GHz, in addition to bands such as 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300-3670 MHz.
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
The manpower requirement will be met with the officers from FMC (both cadre and deputation) and by new hiring.
PFRDA has issued these clarifications in response to queries received from pension fund managers seeking clarity on certain clauses of the investment management agreement for private sector.
According to a source close to the development, the investment advisory committee of the Insurance Regulatory and Development Authority has suggested far-reaching changes to make the investment norms more flexible, while adhering to the existing prudential investment guidelines.
Limit your investment in cryptocurrencies and make sure you have current holdings in your own custody until regulatory cloud blows over, experts tell Sanjay Kumar Singh.
India consistently ranked among the top three countries whose products were rejected for import by the regulator.
FM announces 12-point action plan to revive sector
It proposes to set up a regulator in every state.
Sebi proposes to relax ownership rules to allow more entrants in the exchange space, which is seeing a disruption globally with the emergence of new technologies such as block chain.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
Dependence on advertising remains absolute, with about 90 per cent of revenues coming from it.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
Priority will be to maintain a balance between sector's growth and consumer welfare.
'Start-ups that generate a majority of their income in India are likely to opt for an Indian listing.'
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