A move by the Reserve Bank of India (RBI) to ensure that commencement of solvency resolution process against developer Jaiprakash Associates (JAL) isn’t delayed by a case pending in the Supreme Court stumbled on the court’s decision to give utmost priority to interests of home-buyers.
Overseas companies can now set up their 100% subsidiaries in India at a much faster pace than earlier, analysts and industry leaders said.
The Cabinet on Wednesday decided to allow foreign airlines to invest up to 49% in ailing Air India, which is on the block.
The absence of an auction for spectrum and lower collection of licence fee and spectrum usage charge (SUC) from operators in the wake of lower revenue due to competitive pressure from Reliance Jio will see the government’s revenue for FY18 from telecom services fall 33% from the budgeted level to Rs 29,524 crore.
In a big relief to Indian IT professionals working in the United States, the US Citizenship and Immigration Services (USCIS) has clarified that there is no proposal to deny extension to H-1B visa holders and that the earlier policy remains in force.
Coal India (CIL) has raised the prices of non-coking coal of various grades, inflating electricity cost by 2-4%, a development that might reflect in power tariffs soon.
The Core Group of Secretaries on Disinvestment (CGD) headed by the Cabinet secretary has approved the broad contours of Oil and Natural Gas Corporation’s proposed acquisition of the government’s 51.11% stake in Hindustan Petroleum Corporation, paving the way for the transaction later this month, sources said.
If the Goods and Services Tax (GST) Council insists on electronic way (e-way) bill for moving goods above certain worth along certain distance despite a section of the industry calling it disruptive of trade and economic activity, it is not for nothing.
Despite the Narendra Modi government’s relative promptness in meeting the current demands of subsidies, at least Rs 1.25 lakh crore of past dues of major subsidies — four-fifths of that on food alone and the balance mostly on fertilisers — may remain unpaid to the designated agencies at the end of this fiscal. To that extent, the final fiscal numbers to be released in the next Budget will be dented.
An auction for purchases of limits to buy gilts worth Rs 6,666 crore on Monday attracted nearly twice the subscription from foreign portfolio investors (FPIs). Given the huge appetite that FPIs displayed, market experts expect a big chunk of the bonds to be bought.
Construction of highways gathered pace to touch 20.6 km per day during April-November this year, from 16.7 km a day in the year-ago period, though even the improved rate is a far cry from road transport and highways minister Nitin Gadkari’s target of building these roads at a scorching pace of 41km per day.
With a likely shortfall in GST collections for 2017-18, the government is expected to hold back a big chunk of unallocated Rs 1.2 lakh crore of IGST (integrated goods and services tax) to ensure the fiscal deficit doesn’t slip by more than 20 basis points.
With foreign portfolio investors (FPIs) continuing to buy Indian bonds and stocks, the rupee could strengthen further, hitting levels of 63 to the greenback, say market watchers.
Investments by the private sector are unlikely to be back unless business turns buoyant, R Shankar Raman, CFO, Larsen & Toubro, tells Shubhra Tandon in an interview. Excerpts:
Finance minister Arun Jaitley on Saturday said greens hoots of an economic recovery are visible and asked stressed public sector banks (PSBs) to get their act together and get back to shape at the earliest, so that they can support growth through improved lending.
The Maharashtra government on Saturday announced its plans to host a global investment summit, the first such event to be held in the state, in a bid to attract foreign investment.
In 2000, Amitabh Bachchan and Star India heralded a new wave in non-fiction content with the launch of the quiz show Kaun Banega Crorepati (KBC).
India’s economic growth in real terms will hit a four-year trough of 6.5% this fiscal while its nominal gross domestic product (GDP) will expand at the slowest pace since 2012-13, the Central Statistics Office (CSO) forecast on Friday, worsening fears about a possible fiscal slippage.
A former Reserve Bank of India (RBI) governor had told the Election Commission that loan waivers promised by political parties during election campaigns posed risks to the banking system as this practice discouraged borrowers from repaying loans even when they were in a position to do so, finance minister Arun Jaitley informed the Lok Sabha on Friday.
In what seems a throwback to history, only six states and one Union Territory among the 31 that had signed up since November 2015 for the power discoms’ revival scheme Ujwal Discom Assurance Yojana (UDAY) have reported meeting the respective FY17 targets to reduce aggregate technical and commercial (AT&C) losses.
It seems that 2018 has started off on a competitive note for the telecom industry with Reliance Jio slashing prices on all its mobile tariff plans by Rs 50. The company is now offering data for as low as Rs 4 per GB.
The 13-day winter session of Parliament, which concluded on Friday, was the shortest since 2009 but it still managed to get both Houses’ nod for 10 Bills including one to bar wilful defaulters from bidding for stressed assets going under the hammer via a key amendment to the Insolvency and Bankruptcy Code.
In the first concrete step towards an unprecedented capitalisation of public sector banks (PSBs) reeling under massive bad loans, the government on Thursday told Parliament it will infuse Rs 80,000 crore into these lenders this fiscal through the proposed recapitalisation bonds.
The RBI has initiated prompt corrective action (PCA) against public sector lender Allahabad Bank owing to its high net non-performing assets (NPAs) and negative return on assets (RoA) for two consecutive years.
The Centre’s fiscal deficit for FY17 would have been 4.2% of the gross domestic product against the 3.5% reported had it paid the subsidy claims for the first three quarters of the year in full.
The department of telecommunications (DoT) is planning to monetise more than 773 acres of prime real estate worth around Rs 10,000-15,000 crore that it controls through Hemisphere Properties India (HPIL), the company created to take over surplus land from the erstwhile Videsh Sanchar Nigam (VSNL).
The spawning of bitcoin exchanges is throwing up big opportunities for arbitrage in prices, of no less than 10-13%.