Insurance Australia Group (IAG) of Australia currently owns 26 per cent of SBI General Insurance, with SBI, India’s largest lender, holding 74 per cent.
The department has tried to “name and shame the defaulters into paying the dues”, a source said. The CBDT has asked the defaulters to pay tax arrears immediately.
With banks approving the proposal, the company will get moratorium on repayment, interest rate reduction and fresh working capital.
Brent oil jumped 5 per cent early in the session. In New York, Brent was up $2.30, or over 4 per cent, at $58.78 a barrel by 1600 GMT.
Cumulatively, these three players put in bids worth Rs 89,396.92 crore, which is nearly a third of the total value of bids.
The meeting was attended by representatives of micro-finance institutions, NBFCs, banks, NABARD, SIDBI and RBI.
The RBI said the restructured portion of the short term as well as long-term loans should be treated as current dues and need not be classified as NPA.
Sources said Bharti Airtel, Vodafone and Idea managed to win back most of their licences in the 900 MHz band that were expiring.
Operators of gas-based power units will get monetary support from the government for a period of one year so as to be able to service their debt.
The sale of the power subsidiary is part of the parent company’s efforts to pare its consolidated net debts.
To address human resources-related issues first, says Airports Authority of India.
The Centre’s fiscal deficit is estimated at 3.9 per cent of the GDP in 2015-16, as against the targetted 4.1 per cent in 2014-15.
Earlier on March 19, the Delhi High Court had directed the Directorate General of Civil Aviation (DGCA) to de-register six Boeing 737 aircraft operated by SpiceJet.
The Ordinance lapses on April 5 and for its re-promulgation, the Budget session will have to be prorogued, a call that the government is yet to take.
Move expected to capture trading worth about Rs1,334 cr per day.
Analysts said the Sebi move is quite late as valuations of e-commerce firms have already soared and many are looking at overseas listing.
Of the Rs 1,500 crore outlay for the scheme, 10 per cent has been allocated to training of youth from north eastern states.
The government has set a disinvestment revenue target of Rs 69,500 crore in FY16.