The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
Dr Bala Krishnamoorthy, I/C Dean, School of Business Management, SVKM's Narsee Monjee Institute of Management Studies, tells you how to make the right choice.
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides.
V G Siddhartha's wife has the support of the employees. But the challenges ahead of her are tough.
The focus of the meeting will be on enabling businesses and households to avail of the revival framework on the basis of viability, necessary steps like finalising bank policies and identifying borrowers, and discussing issues that require addressing for smooth and speedy implementation.
To young professionals I would say, work hard, play hard and not be constrained by fads like WLB, says Sudhir Bisht.
Reports had suggested that the construction major had asked Ravanan to step down as the new owners were preparing the grounds for a top management overhaul at the Bengaluru-based company.
Ghosh said the Tata Trusts Cancer Care Initiative is one of the largest health care programmes in the world
Klopp impressed with Mourinho turning Spurs into 'results machine'
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
A delegation of account-holders went to Sion police station in central Mumbai and submitted the complaint against officials of the bank on which the RBI has imposed operational restrictions. The delegation in its complaint alleged that at least 14 people, including the PMC Bank's chairman and all its directors, were involved in misappropriation of funds of the account-holders.
In a letter to Air India Chairman and Managing Director Rajiv Bansal, the ICPA said, "In the press conference by Honourable Minister Shri Hardeep Singh Puri dated 16th July 2020, you had stated 'we are in negotiation with the pilots', which is far from reality." "It was not a negotiation, but the 'diktat' of the MoCA (ministry of civil aviation) which was conveyed to us. We would also like to place on record that the so-called negotiation was 'not harmonious' in any aspect," the Indian Commercial Pilots' Association (ICPA) noted.
After oscillating over 486 points, the 30-share Sensex settled 38.44 points, or 0.10 per cent, lower at 39,020.39. It hit an intra-day low of 38,840.76 and a high of 39,327.15.
What made the tide turn in favour of the Adani group was the Covid-19 pandemic, which shut down airports the world over, including Mumbai. There was no cash flow and the firm started defaulting on salaries July onwards.
'The government has realised that the finances of the government are in a precarious state.' 'We are borrowing to fund the ever-burgeoning revenue deficit.' 'Then you are paying interest on the fresh borrowing.' 'For the first time, the government has realised that this cannot go on.'
Virat Kohli said that both he and AB de Villiers feel that this could be the 'breakthrough season' when tables will turn for the franchise which has flattered to deceive on many occasions.
Inundated with information and long hours of test practice, aspirants are bound to commit mistakes, notes Arun Sharma, a top CAT educator at Unacademy.
'We need to confront such people else they will be encouraged to harass more women in the future,' notes HR guru Mayank Rautela.
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
The Reserve Bank on Monday asked all banks and financial institutions to assess the impact on their balance sheet, asset quality, liquidity, among others, in the wake of the potential threat arising out of the spread of coronavirus disease in India. Several confirmed cases have also been detected in India, which highlight the need of a co-ordinated strategy for handling the emerging situations to protect the resilience of the Indian financial system, RBI said in a notification addressed to banks, urban cooperative banks, NBFCs, payment and small finance banks.
The Centre has advised banks to make a 20 per cent reduction in expenditure related to non-core business activities, along with deferring "avoidable expenditure" on "purchase of staff cars", "refurbishment of guest houses" and on the interior decoration of administrative and back offices.
The appraisals being done by most companies this year are harsher than past ones with higher threshold in many metrics. Reduction in headcount has been done across most tier-I and tier-II IT firms along with global technology firms in the country.
Do not click on any pop-ups, links in messages or notification balloons if you are off the corporate VPN, warns Niranjankumar Laxman Upadhye.
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
Pakistan veteran batsman Younis Khan has urged his side to stop blaming each other for their poor performances and called on the top management to boost their confidence.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
'Younger people have a very strong sense of what is wrong, and what is right, along with the opportunity to call out this kind of behaviour through mechanisms like social media.'
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
The Parliamentary Standing Committee on Information Technology, headed by senior Congress leader Shashi Tharoor, had called representatives of Facebook to hear their views "on the subject of safeguarding citizens' rights and prevention of misuse of social/online news media platforms including special emphasis on women security in the digital space," according to agenda of the meeting.
In 2020, retail and e-commerce sector will lead the table and is expected to generate 112,000 jobs followed by IT & ITeS (105,500), FMCG (87,500), manufacturing (68,900), BFSI (59,700) and healthcare (98,300), the survey said.
Infosys pointed out that it is not uncommon for plaintiffs' lawyers to issue press releases or other media communications asking potential plaintiffs to contact them in order to apply for lead plaintiff status in an existing lawsuit. In October, Infosys had informed the stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
The bank is also working on a three-year business plan, nearly coinciding with the time its new chairman Rajnish Kumar would be in the corner office.
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
Infosys said it is also "aware of a securities class action lawsuit" that has been filed against the company in a federal court in the US, based on the generalised allegations in the anonymous complaints. The company intends to defend itself vigorously in such a lawsuit.
"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.
Govt reconstitutes body, says will not interfere in senior PSB appointments
In a stringent set of executive pay disclosure norms, the government on Friday proposed to make it mandatory for listed companies to give their rationale behind salaries and hikes given to top management personnel vis-?-vis the business performance.
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