An internal working group set up by the RBI has proposed to raise the cap on promoters' stake in private banks from the current 15 per cent to 26 per cent in 15 years. The group has also recommended that large corporate or industrial houses may be allowed as promoters of banks only after amendments to the Banking Regulation Act and strengthening of the supervisory mechanism for conglomerates, including consolidated supervision. The Reserve Bank of India had constituted the internal working group (IWG) on June 12, 2020, to review extant ownership guidelines and corporate structure for Indian private sector banks.
Vishwas Mote, assistant municipal commissioner (K-West ward), said on Thursday that since the past seven days they have made people do community service in the form of sweeping roads if they unnecessarily argue with officials or refuse to pay fine for not wearing a mask.
On October 31, Chaudhuri was arrested from his Delhi home by the Jaisalmer police for his alleged role in crippled Rs 200 crore Garh Rajwada hotel project in the city which was sold for Rs 25 crore to Alchemist ARC in March 2014. The project was financed by the bank in 2007.
Joginder Tuteja looks at the big October hits in the past decade.
Inching closer to resolving the Punjab and Maharashtra Cooperative (PMC) Bank issue, the Reserve Bank on Monday came out with a draft scheme for takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB). The draft scheme of amalgamation envisages takeover of the assets and liabilities of PMC Bank, including deposits, by USFB, thus giving a greater degree of protection for the depositors, the RBI said. In September 2019, the RBI had superseded the board of PMC Bank and placed it under regulatory restrictions, including cap on withdrawals by its customers, after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.
As Kareena Kapoor celebrates her 20 years in the industry, here is presenting her Top 10 biggest grossers.
As many as 17 films entered the Rs 100 Crore Club in 2019.
SRK's persona and brand power has been built over nearly 30 years of public acclaim and love. Brands perhaps believe that his troubles are transitory and that as a human brand he has long legs capable of striding over controversies, explains ad guru Sandeep Goyal.
ED has come across two immovable assets - one flat in Dubai and one land parcel in London. It is examining the valuation of both properties, estimated between Rs 150 crore and Rs 200 crore.
Joginder Tuteja lists the biggest box office successes with stars in uniform.
Responding to a question on the Rajasthan government's claim that there is a shortage in COVID-19 vaccine stock, Union Health Secretary Rajesh Bhushan said the central government regularly monitors the availability of vaccine supply in all states and UTs and their consumption on a daily basis.
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Nothing has ever been done to make bank officers accountable, except for the rare actions when there is a public controversy, argues Debashis Basu.
Some films have done predictably well at the box office while others have emerged as surprise hits.
From April 1, 2020 to February 15 this year, the BMC caught 15,16,398 people without face masks and collected a total of Rs 30,69,09,800 from them, civic officials said.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The court allowed the group to re-auction certain properties in Ajmer, Firozabad, Vellore, Tiruchirappalli and Ujjain for which the bidding was at a much higher price
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue. Experts estimate that Mumbai's redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them. Leading the race is Oberoi Realty, which has set up a separate team for these projects.
The Tatas are rather overwhelmed with some facets of the airline they have discovered, but even more unnerved by what they may not have yet uncovered, reveals Anjuli Bhargava.
The move is significant since it signals the growing importance of foods in Marico's overall strategy. It also comes six months after Marico stepped into honey, a Rs 1,500-crore category dominated by players such as Dabur.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
'They asked me if I was a devout Muslim and if I could recite the Kalma.' Flying Officer Jawahar Lal Bhargava knew his game was up. 'They threatened me with dire consequences if I didn't tell the truth.'
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
Rediff Fashion Fest - 5 Women's Fashion Trends of 2016
The Centre on Monday earmarked a separate Rs 2,217 crore for 42 urban centres to tackle air pollution and announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles, even as it shrunk the budgetary allocation for the environment ministry from the last fiscal by nearly eight percent. Union Finance Minister Nirmala Sitharaman, in her budget speech for 2021-22, announced a total of Rs 2869.93 crore for the ministry, Rs 230 crore less than the last fiscal. Officials said the outlay has been lesser this time as the economy is recovering from the COVID-19 pandemic.
'Only the press in India writes stuff like, 'supporting actor, character actor, comedic actor or action hero'.'
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
Why the 2020 Padma Shri Awards are an honour truly worth celebrating.
"... The conspiracy to murder Mahatma Gandhi was not the handiwork of a lone wolf or a few fanatic members of the Hindu Mahasabha. Most importantly, it was not conceived just a few weeks before 30 January 1948," reveals The Murderer, the Monarch and the Fakir: A New Investigation of Mahatma Gandhi's Assassination, authored by Appu Suresh Esthose and Priyanka Kotamraju.
The so-called high networth individual portion saw 620x more demand than shares on offer.
In a bid to support revival of sectors hit most by the Covid-19 pandemic, Reserve Bank of India on Friday decided to open a separate liquidity window of Rs 15,000 crore for certain contact-intensive sectors like hotels and restaurants, tourism and aviation ancillary services.
A representative of the Confederation of ATM Industry said ATM players were not consulted about the move and they received the news via media platforms.
Markets regulator Sebi on Thursday came out with detailed modalities for implementation of the accredited investors framework, a move expected to open up a new channel of raising funds from sophisticated investors. The regulator has issued guidelines on eligibility criteria for accredited investors (AIs), procedure as well as validation for accreditation, procedure to avail benefits linked to accreditation and flexibility to investors to withdraw "consent", according to a circular. Sebi had earlier this month introduced the concept of "accredited investors" in the Indian securities market.
The I-T officer can go back up to six years to scrutinise the books of accounts of the assessees.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
IT major Infosys on Tuesday said it has seen no major impact on client deliverables due to the ongoing pandemic, and has been working proactively with clients to mitigate any potential impact. The Bengaluru-based company has also enabled vaccination for 14,150 employees and their family members through its centres, and is in the process of setting up additional facilities across its campuses in India. Besides, Infosys is providing financial support, exploring training and job opportunities for the next of kin and offering necessary assistance to support dependents of deceased staff members.
Ajit Mishra answers reader queries on the stock market.
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