The resolution process in the case of DHFL is a complex one as it is the first financial company being resolved under the RBI’s June 7 circular and there are multiple categories of creditors involved — banks, insurance co
Among the 25 general insurers, New India Assurance, Bajaj Allianz General Insurance, SBI General Insurance and Tata AIG General Insurance, among others, saw a positive growth in the April-July period, showed the data from Ins
The joint venture will capitalise on Mahindra Finance’s expertise in financial services and Ideal Finance’s domestic market knowledge to build a market leading financial services business in Sri Lanka.
The report and the draft law also contain suggestions on inter alia faceless assessment, litigation management, process simplification and sharing of information among the GST department, Customs, CBDT and Financial Intellige
As part of this drive, she visited Ahmedabad on August 16 and is planning to go to Varanasi next. The Budget lowered the tax rate to 25% for all companies having an annual turnover of up to Rs 400 crore, instead of Rs 250 c
A plea filed by Industrial Financial Corporation of India (IFCI), a financial creditor, against treating of its secured loans as unsecured debt was also dismissed by the NCLAT. Monnet Ispat owes IFCI around Rs 158 crore.
NTPC is likely to sell around 60-70% of power produced on merchant sale basis and keep only around 30% on PPA basis to begin with, the company management told analysts in a meet. The UMSP comes after the not so successful la
The NCLAT is likely to hear the pleas on Tuesday. The Mumbai bench of NCLT had on August 9 dismissed the plea made by the former auditors of IL&FS group challenging the tribunal’s jurisdiction to ban them under Section 140
Zee Entertainment Enterprises (ZEEL) promoters informed the stock exchanges on July 31, 2019, that Invesco Oppenheimer Developing Markets Fund (IODMF; existing investor in ZEEL for 7.74% stake) has agreed to buy up to 11% sta
Senior counsel Mukul Rohatgi, appearing for Facebook, argued that this mandatory linking of Aadhar or any other government authorised identity proof is also contrary to the principles set forth by the Constitution Bench in th
Finance minister Nirmala Sitharaman in the FY20 Budget abolished MDR charges for all merchants having a turnover of over Rs 50 crore which would lead the payment companies taking a hit on their margins.
Industry members claim that the turnaround time after loan sanctions through the portal has been long. In a meeting with finance minister Nirmala Sitharaman earlier this month, an industry association raised a complaint to th
There is nothing further the government can do, Kumar said, adding that there is liquidity, partial credit enhancement and interest rates have moderated. Asked about the progress made in the resolution of stressed NBFC Dewan
Banana accounts for as much as 60-65% of the green exports from Kerala and the rest are vegetables. Of the banana varieties, nenthran plantain leads the food preferences of Kerala’s 20 lakh diaspora families fanning out in
Under the Solar Energy Credit initiative, an integral part of the scheme, the central government is providing a subsidy of 50% to power loom units having maximum eight looms for adopting solar energy for captive use either in
There are eight specific areas in which these banks are expected to focus, which include credit growth, infrastructure financing, financial inclusion, digital transactions and CSR activities, among others.