FE Bureau | February 23, 2018 5:05 AM
The National Highways Authority of India’s (NHAI) plan to augment its non-debt resources by transferring its operational projects on long-term lease basis to domestic and foreign “patient capital” investors has got off to a good start.
Shritama Bose | February 23, 2018 4:59 AM
Reliance Payments Solutions (RPSL) on Thursday sought permission from its JioMoney customers to transfer their prepaid payment instruments (PPIs), or wallet accounts, to Jio Payments Bank, according to a public notice.
Shayan Ghosh and Shamik Paul | March 22, 2018 5:00 PM
The committee of creditors (CoC) to Essar Steel is likely to approach the National Company Law Tribunal (NCLT) regarding the bids received as part of the steelmaker’s insolvency resolution process since both the bidders – ArcelorMittal and Nu Metal – are facing eligibility issues, sources told FE.
FE Bureau | February 22, 2018 5:07 AM
Also say may take grievances to DoT, PMO, imply rules disfavour ‘all but one operator’
FE Bureau | February 22, 2018 5:00 AM
The Supreme Court on Wednesday refused to pass any order on a public interest litigation (PIL) seeking an investigation into the role of the Punjab National Bank (PNB) top brass and deportation of billionaire jeweller Nirav Modi in the Rs 11,400-crore fraud case.
FE Bureau | February 21, 2018 6:19 AM
To boost railway connectivity and ease congestion in eastern and central India, the CCEA on Tuesday approved doubling, new-line and electrification projects worth Rs 11,662 crore that are expected to create 211.74 lakh persondays of work.
FE Bureau | February 21, 2018 6:13 AM
In his first official statement after the Rs 11,400-crore fraud at Punjab National Bank (PNB), finance minister Arun Jaitley on Tuesday said banking supervisory agencies need to assess what new systems have to be put in place to avoid such scandals in future.
FE Bureau | February 21, 2018 6:07 AM
IT industry body National Association of Software and Services Companies (Nasscom) on Tuesday projected a growth rate of 7-9% in fiscal year 2018-19, slightly higher than the 7-8% expected in the current fiscal, while hiring is expected to remain muted.
FE Bureau | February 21, 2018 5:27 AM
Prime Minister Narendra Modi on Tuesday reiterated that the government will take all necessary steps to double the income of farmers by 2022.
FE Bureau | February 21, 2018 5:15 AM
In key reform, CCEA okays methodology for auction of coal blocks to private players for commercial use
Sumit Jha | February 20, 2018 7:11 AM
The government could turn less ambitious on the invoice-matching mechanism, one of the crucial anti-evasion measures in the goods and services tax (GST) regime, as it now reckons that cost of complying with then system to taxpayers and the tax department far outweighed the potential gains by way of plugging revenue leakages.
FE Bureau | February 20, 2018 7:06 AM
Less than half of wallet users have opted for the know your customer (KYC) process, as defined under the master direction on issuance and operation of prepaid payment instruments (PPIs) issued by the Reserve Bank of India (RBI) on October 11, 2017, industry players told FE.
FE Bureau | February 20, 2018 6:15 AM
Poses tough questions on whether there were any supervisory or regulatory lapses
FE Bureau | February 20, 2018 4:48 AM
Singapore Exchange (SGX) on Monday said in a statement that it would launch products that will succeed the SGX Nifty family of products before August 2018, when its existing contract with National Stock Exchange (NSE) expires.
Sundar Sethuraman | February 21, 2018 10:08 AM
New NPA norms and the PNB scam pour cold water on fund-raising plans amid hammered shares
Prasanta Sahu | February 19, 2018 3:25 PM
The prospect for FY19 is not bright either as at least six states are implementing farm loan waivers and most are to factor in Pay Commission-induced salary increases for their staff.
Banikinkar Pattanayak | February 19, 2018 1:44 PM
Some PSBs asked their vigilance officers to submit an internal report, assessing systemic preparedness to avoid potential frauds.
“The (PNB) fraud came as a bolt from the blue. We swung into action, scanned accounts of the accused and started fortifying our internal systems.
Anupam Chatterjee | February 19, 2018 6:35 AM
After UDAY was implemented in November 2015, AT&C losses at the national level had fallen 1.8 percentage points to 23.9% in FY16.
FE Bureau | February 18, 2018 5:21 AM
Though the banking industry has started to recognise the stressed assets, with a resolution process through NCLT, aptly backed by recapitalisation, the country has failed to recognise the aspect of regulation and the role of a regulator, he said.
FE Bureau | February 18, 2018 5:15 AM
Crisil said it has sought clarity from PNB to understand the timeline and quantum of crystallisation of this contingent liability, prospects for recovery, estimated provisioning, potential impact on capitalisation ratios and expectation of additional capital support, among others.
FE Bureau | February 18, 2018 5:10 AM
Held at the State Bank of India head office in Mumbai, the meeting was attended by bankers, including IBA chairman and Allahabad Bank CEO Usha Ananthasubramanian, IBA deputy CEO B Raj Kumar, ICICI Bank executive director NS Kannan and Bank of India MD & CEO Dinabandhu Mohapatra.
Banikinkar Pattanayak | February 18, 2018 5:06 AM
Rajiv Popley, executive director at Mumbai-headquartered Popley group, told FE a “stray incident should not be generalised” and the entire jewellery industry need not be painted with the same brush.
FE Bureau | February 18, 2018 5:00 AM
Other pacts included avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, ratification of extradition treaty, exemption from visa requirement for holders of diplomatic passports, traditional systems of medicine and establishment of an expert group on trade remedy measures. In addition to these nine pacts, four more pacts were inked on the sidelines of Rouhani’s visit between the two countries, officials said.
Chandni Mathur | February 18, 2018 4:51 AM
Although not as developed, in India, too, several brands are waking up to the immense potential of AI and its effectiveness in reaching out to consumers.
FE Bureau | February 17, 2018 6:23 AM
Reliance Industries’ (RIL) wholly owned subsidiary Reliance Industrial Investments and Holdings (RIIHL) proposes to acquire equity shares of The Indian Film Combine (IFC), for `1,105 crore, according to a statement on stock exchanges.
FE Bureau | February 17, 2018 6:19 AM
The Telecom Regulatory Authority of India (Trai) on Friday issued regulations on predatory pricing, which imposes a penalty of up to `50 lakh per circle on mobile operators if they are found to indulge in such practices
FE Bureau | February 17, 2018 6:15 AM
MSCI, the provider of index services, in a statement issued late on Thursday termed the decision by Indian stock exchanges not to provide Indian indices or the data including the price of Indian securities to foreign exchanges as disruptive and harmful to international institutional investors in Indian equities.
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