FE Bureau | December 13, 2017 6:21 AM
State-run lender Punjab National Bank launched a Rs 5,000-crore fund-raising programme late on Monday evening through qualified institutional placement (QIP) of shares at a likely price of Rs 168 per share in a move that will shore up the bank’s capital adequacy ratio.
Shayan Ghosh | December 13, 2017 6:11 AM
Senior bankers will meet officials of the Insolvency and Bankruptcy Board of India (IBBI), including its chairman MS Sahoo, on December 14 to express their discomfort over sharing loan agreements and other confidential client-related documents with the information utility (IU) set up under the Insolvency and Bankruptcy Code (IBC), sources told FE.
FE Bureau | December 13, 2017 6:06 AM
The latest sets of economic data released on Tuesday heightened the fear that a recovery might barely have materialised as yet, even as it demolished whatever slim chances existed for a rate cut by the Reserve Bank of India (RBI) in the February review of the monetary policy.
FE Bureau | December 13, 2017 5:59 AM
A stepping-up of infrastructure creation and a sharper focus on digitisation will contribute more to India’s economic growth in coming years rather than the manufacturing and farm sectors, economic affairs secretary Subhash Garg said on Tuesday.
Banikinkar Pattanayak | December 13, 2017 5:55 AM
After over two decades of existence, the World Trade Organisation (WTO) has witnessed a barrage of criticism over its role by one of its staunchest original proponents, namely, Washington, DC, while most others have renewed their pledges to further strengthen its framework, exposing stark differences over how a rule-based multilateral trading system is being perceived today.
Prasanta Sahu | December 12, 2017 7:00 AM
The sources added that along with AI’s 12,000-strong workforce, its headquarters building at Delhi’s Gurudwara Rakabganj Road and 115 aircraft, the prospective buyer of AI-AIE will also have to take over the airline’s Rs 20,000-crore aircraft-related loans and AI’s Rs 8,000-crore dues to oil retailers.
Indu Bhan | December 12, 2017 6:41 AM
Cornered by Friday’s National Company Law Tribunal (NCLT) order suspending all its nine directors and letting the government take over its management control with its 10 nominees, embattled real estate firm Unitech on Monday made a bid to escape the process by pleading to the Supreme Court in vehement terms that the tribunal went contrary to the SC’s earlier directions in a criminal case.
FE Bureau | December 12, 2017 6:38 AM
Having failed to come up with resolution plans for most of the 28 stressed companies on the Reserve Bank of India’s (RBI) second list, bankers are understood to have asked the central bank for a little more time to resolve a few of them.
Rs 20,000 case: Setback for Vodafone, Centre moves Supreme Court, wants stay on HC order in arbitration caseIndu Bhan and Sumit Jha | December 12, 2017 6:32 AM
The finance ministry on Monday moved the Supreme Court seeking a stay on the Delhi High Court’s October order that allowed the Vodafone Group to go ahead with its second arbitration proceedings against India under a treaty with the UK in connection with a tax demand, Rs 20,000 crore when last reported, on the company over its $11-billion acquisition of Hutch’s stake in Hutchison-Essar in 2007.
Anushree Bhattacharyya | December 12, 2017 6:28 AM
Amazon Seller Services, the marketplace arm of US-based e-tailer Amazon, says it has already started to focus on its bottom line.
FE Bureau | December 11, 2017 6:19 AM
Former State Bank of India (SBI) chairman Arundhati Bhattacharya has said the issue of moral hazard was an important issue in the context of the resolution under the IBC (Insolvency and Bankruptcy Code), recently amended to bar promoters from bidding for their assets.
Anupam Chatterjee | December 11, 2017 6:11 AM
If state-owned distribution companies (discoms) are mandated to put in place power purchase agreements (PPAs) to meet 100% of their electricity “requirement”, they may end up shelling out extra Rs 18,000 crore annually, whether or not they consume the extra power.
Prasanta Sahu | December 11, 2017 6:04 AM
With the Staff Selection Commission (SSC) anticipating a three-fold jump in its expenses to Rs 900 crore, job seekers sitting for the examinations may have to fork out much higher fee.
FE Bureau | December 10, 2017 5:33 AM
Financing of infrastructure projects would be facilitated by the government wherever banks are not able to fund the total requirements, Nitin Gadkari, Union minister for road transport and highways, said on Saturday.
Sumit Jha | December 10, 2017 5:22 AM
The government may have no option but to abandon its soft approach to a section of taxpayers who are presumably evading payment of their due share of goods and services tax.
Chandni Mathur | December 10, 2017 5:16 AM
Going by the number of sporting leagues in the country today and their popularity, especially the IPL and ISL, it is no wonder that sports is a lucrative business to be in.
FE Bureau | December 9, 2017 6:39 AM
Additional solicitor general Sanjay Jain told the tribunal that Unitech was a “fit case” for initiating winding-up proceedings but the government would still not go that way because of the larger interest of flat buyers and depositors of the company.
FE Bureau | December 9, 2017 6:27 AM
Among the banks that were adjudged winners in their respective categories were SBI, HDFC Bank, City Union Bank and Barclays Bank. The jury felt these lenders had done extremely well at a difficult time in the banking industry.
FE Bureau | December 8, 2017 7:58 AM
With the Bombay High Court upholding the constitutional validity of Real Estate (Regulation and Development) Act (RERA) and stating that “ongoing projects” too would come under its ambit, the issue has been settled once and for all, minister of housing and urban affairs Hardeep Singh Puri said on Thursday.
FE Bureau | December 8, 2017 9:37 PM
ICICI Bank too offers an ‘app-side’, if you will, with homegrown digital loan strategies making transactions simpler for its customers with our App of the Year, Pockets.
FE Bureau | December 8, 2017 7:01 AM
Kant said that today’s tech revolution was different from the industrial revolution. “However, jobs will not entirely vanish, they will be redefined,” he said.
FE Bureau | December 7, 2017 6:40 AM
Holds on policy rate, ups inflation outlook; with finmin, to offer a ‘reform and recap package’ for PSBs.
UDAY: Going to get tough for discoms, Centre may not allow losses over 15 pct to be passed on to consumersAnupam Chatterjee | December 7, 2017 6:36 AM
To ensure stricter UDAY-target compliance by discoms, the government will mandate via a new law that their losses due to pilferage/theft exceeding 15% can’t be considered for tariff determination.
FE Bureau | December 7, 2017 6:26 AM
Technologists, take a bow, as the Express IT Awards, the flagship event of The Express Group celebrating excellence of companies and individuals from India’s cutting-edge technology space, enters its fifth year.
FE Bureau | December 6, 2017 6:33 AM
Raises incentives under MEIS, SEIS by 2 percentage points; focus on MSMEs and labour-intensive sectors.
FE Bureau | December 6, 2017 6:23 AM
Export-oriented auto manufacturers like Ford India, Nissan and Volkswagen are suffering as the current goods and services tax (GST) system of making payments upfront and claiming input tax credit is not working properly.
Shritama Bose | December 6, 2017 6:33 AM
Uday Kotak chose to start up — long before it was considered cool — and established the non-banking financial company (NBFC) Kotak Mahindra Finance.
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