If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
The 'Holi celebrations' event was organised by the Governor in the honour of the visiting dignitary and his delegation.
Balakrishnan, a full professor in the economics department who joined the private university in 2015, on Saturday wrote to Ashoka University Chancellor Rudrangshu Mukherjee and board of trustees chairperson Pramath Raj Sinha explaining his reasons for his resignation.
'I am the worker of RSS, and the RSS never condemned Bharat Jodo Yatra'
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Prime Minister Narendra Modi on Monday met the top priests of various churches in Kerala, giving a push to the Bharatiya Janata Party's efforts to reach out to the influential minority community in the southern state ahead of the 2024 Lok Sabha polls, sources said.
The probe, being conducted under various sections of the Prevention of Money Laundering Act, is against the Kallal Group and the UK-based Lyca group and its Indian companies Lyca Productions and Lyca Hotels, it said.
The decline in demand and rise in raw material prices due to high transportation costs are the major problems faced by micro, small and medium enterprises in the last 27 months, according to a survey. The report by Bhartiya Yuva Shakti Trust (BYST) also said that though markets have stabilised, about 57 per cent of the units that participated in the survey are struggling to get new orders for their merchandise. "Lesser purchasing power of consumers lead to reduced demand and increased raw material cost due to higher transportation cost with increase in fuel prices have been cited among key problems faced by entrepreneurs during the last 27 months," Lakshmi Venkataraman Venkatesan, founding and managing trustee, BYST, said.
Retirement fund body EPFO fixed 8.15 per cent rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its meeting on Tuesday. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.
The Securities and Exchange Board of India (Sebi) has for the first time proposed to regulate online platforms offering fractional ownership in real estate, a model already popular in countries like the United States and UAE. In a consultation paper floated recently, the capital markets regulator stated that such fractional ownership of real estate assets was proposed to be brought as MSM (micro, small, medium) REITs under Sebi (Real Estate Investment Trusts) Regulations. This model allows investors to own a fraction or a small share in a real estate asset like buildings and office spaces, which could include warehouses, shopping centres, conference centres.
The Central Bureau of Investigation on Monday told a special court here that former ICICI Bank CEO and MD Chanda Kochhar misappropriated the lender's funds for personal use. The probe agency, represented by special public prosecutor A Limosin, made this argument while urging the special court to take cognizance of the chargesheet filed against Chanda Kochhar, her husband Deepak Kochhar and others in a case pertaining to cheating and irregularities in sanctioning of loans to Videocon Group firms. Chanda Kochhar was MD and CEO of ICICI Bank between May 2009 and January 2019 in which capacity she was entrusted with the Bank's funds, the CBI told court.
Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft.
A police case has been filed against three persons in connection with the appearance of ice in the shape of a 'lingam' in the renowned Trimbakeshwar temple in Maharashtra's Nashik in June last year, which a probe committee has now proclaimed as a hoax.
"Vivan Sundaram passed away this morning at 9.20 am. Further details of the cremation as decided will be communicated to you shortly," read a note issued by Safdar Hashmi Memorial Trust (SAHMAT), of which Sundaram was a founding trustee.
Ajay Devgn has been the chief guest for many events. But this one is close to his heart.
Modi to receive Lokmanya Tilak National Award, constituted by Tilak Smarak Mandir Trust in 1983, to honour the legacy of Lokmanya Tilak
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
The Supreme Court on Monday appointed former apex court judge Justice R V Raveendran as a mediator to settle the family property dispute involving businessman and former IPL head Lalit Modi and his mother Bina Modi. The apex court observed that counsel appearing for both sides agreed that they would go without any pre-condition and with an open mind to settle the dispute in mediation. "....We also think the issue can be resolved by way of mediation," a bench headed by Chief Justice N V Ramana said. "Accordingly, we appoint Justice R V Raveendran, a retired judge of this court, to mediate and settle the dispute," said the bench, also comprising justices Krishna Murari and Hima Kohli.
No one can capture an inch of Indian land till the Narendra Modi government is in power, Home Minister Amit Shah said Tuesday and claimed the actual reason behind the Congress disrupting Lok Sabha proceedings was not the clash between Indian and Chinese soldiers but a question on the cancellation of Foreign Contribution (Regulation) Act (FCRA) registration of the Rajiv Gandhi Foundation.
The trust that runs the institution said she had resigned.
The Eternal Gandhi Museum is the only Gandhi-related museum in the United States, dedicated to Gandhi, to preserve and promote his ever-lasting legacy of nonviolent conflict resolution.
The police said an aged woman had even called her grandson using Shariq's phone.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
The disbursal included Rs 1,000 crore for migrant welfare and over Rs 1,392 crore for procurement of Covid vaccine doses.
While Jio MF will undoubtedly grow in size, it will have to cross multiple hurdles even to emerge as the market leader, observes Debashis Basu.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
A Ganesh Nadar/Rediff.com reports on a revolutionary wedding in Tamil Nadu at which guests were exhorted to gift only school books -- and got 1500 of them!
During the winter, Badrinath's 45 kg of gold and 35 kg of silver is kept at the Narsingh temple in Joshimath, located about half a kilometre from the houses which have developed cracks because of the subsidence.
The police have managed to make some inroads into the case in which Rs 35.5 lakh went missing from the Sathya Sai Baba Central Trust. Earlier during the day, the Anantpur police had claimed that the money was being taken from Puttaparthy to Bangalore to be handed over to an unknown person.
It was a triangular session, with the judge hearing the case from Nagercoil, petitioner's counsel V Raghavachari at one place and advocate-general R Shanmugasundaram, at another place, in the city.
Sebi has taken note of mis-selling in the financial sector and is planning to regulate the distributors, the only unregulated part of the MF industry.
The government has approved 8.1 per cent rate of interest on employees' provident fund (EPF) deposits for 2021-22 -- an over four-decade low -- for about five crore subscribers of retirement fund body EPFO. Earlier in March this year, the Employees' Provident Fund Organisation (EPFO) had decided to lower the interest on provident fund deposits for 2021-22 to 8.1 per cent from 8.5 per cent provided in 2020-21. According to an EPFO office order issued on Friday and reviewed by PTI, the Ministry of Labour and Employment has conveyed approval of the central government to credit 8.1 per cent rate of interest for 2021-22 to each member of the EPF scheme.
British-Pakistani billionaire businessman Shahzada Dawood and his son Suleman were also on the sub, the BBC reported on Tuesday.
In an affidavit submitted before a division bench of Chief Justice Dipankar Datta and Justice M S Karnik, PMO Under Secretary Pradeep Srivastava said the PM's photograph, name and national emblem were also used in the Prime Minister's National Relief Fund (PMNRF).
Very often, 'sentiment' drives prices well beyond what is warranted and it is hard to forecast market sentiment, explains Debashis Basu.
In a significant development, India is believed to have placed a funding request of around $55 million in its first call with the Pandemic Fund of the World Bank, sources said. The fund has been set up to finance critical investments in a bid to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries. It was created in the aftermath of the Covid-19 global pandemic.
The action came after investigations carried out by an inter-ministerial committee formed by the home ministry in 2020.
The incident occurred when devotees were scrambling to gain entry into Sant Dnyaneshwar Maharaj Samadhi Mandir in Alandi town, 22 km from Pune city, during the ceremonial procession which is part of the annual Ashadhi Ekadashi pilgrimage to Pandharpur.
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
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