Sharp fall in refinance to public sector banks, down 28.90% to Rs 1,886.73 crore
The GDP growth in FY17 was mostly driven by private consumption but public funds too had a small role.
Over the past few months, Murthy has been critical about the functioning of the board, while questioning the corporate governance practices at Infosys.
“From an investors’ standpoint, an effective and robust bankruptcy regime is important for developing the corporate bonds market. Investors have been shying away from low-rated corporate bonds and even if the rating is of investment grade, given the high rate of defaults,” said Tyagi
The Rs 13,000-crore buyback scheme, which will begin on a yet-to-be-announced date, will see the company plough back 20.51 per cent of its paid-up equity and free reserves of cash as on June 30, 2017 to the shareholders of the firm.
“In order not to face any last moment technological difficulty in submission of return, all taxpayers are requested to kindly file their return well before 25th/28th of August 2017 and not wait for the last date,” read an official notification
Patel said the measures could include a combination of capital raising from the market, dilution of government holding, additional capital infusion by the government, merger based on strategic decision and sale of non-core assets.
A section of employees are, however, not very downcast about the change of guard and are of the view that there is substance to rumours of wrong doing that has been swirling around since the end of the first year of Vishal Sikka’s tenure
IBC was needed as Debt Recovery Tribunals failed to perform effectively: FM
No change in share buyback plan, says chairman Seshasayee; m-cap tanks to around Rs 2,12,033 cr
As Vishal Sikka announced his resignation as CEO of Infosys, blaming “increasingly personal attacks”, industry experts say he had led the company to outperform its peers on the very parameter that Murthy had listed six years ago — net income margins.
Sikka in his resignation letter said that his decision to leave stems from continuous “false, baseless, malicious and increasingly personal attacks” that have created “an untenable atmosphere”.
The Opposition Congress Friday demanded a CBI investigation monitored by the Supreme Court into what it called “corrupt practices” of the company.
According to Trai secretary (acting) SK Gupta, if an operator fails to meet the call drop benchmark in a consecutive quarter, the penalty amount will be hiked 1.5 times and in the third consecutive month it will be doubled.
All the banknotes in the denomination of Rs 50 issued by the Reserve Bank in the earlier series will continue to be legal tender: RBI
Till now, only financial and operational creditors were permitted to seek claims under the IBC. But Insolvency and Bankruptcy Board of India has amended the regulations whereby claims can be made by creditors other than financial and operational creditors.
Deadline for payment of GST as per self-assessment for those taxpayers who want transitional input tax credit, will remain August 20
Centre made it mandatory for its ministries, CPSUs to procure minimum 20% of their products & services from micro and small enterprises from April 1, 2015
The Prime Minister said that only governments and their initiatives will not make a New India, while encouraging entrepreneurs to participate in government initiatives. “Change will be powered by each and every citizen of India,” he said.
To decide the knee implant price cap, the NPPA had consultations with various stakeholders such as domestic and foreign orthopaedic device manufacturers; orthopaedic industry associations; orthopaedic surgeons and civil society groups.
The fund is likely to be created in another two-three months following which all central, state and private-sector hydro projects will be brought under the renewable category.
Subramanian suggested ramping up coal production dramatically in the short run and slowing down renewable energy capacity addition. He said that coal can be slowed down and renewable energy ramped up, when social cost for the latter would change in its favour.
The response came in as a rebuttal to a media report published on Thursday, which stated that the Tata Group has decided not to have any business dealings with SP Group.
Now, both the banks will pay 3.5% interest on deposits up to Rs 50 lakh
Winfried Heinen, chairman of the executive board of directors of General Reinsurance AG, said linking Indian business with global capital will help the reinsurer to offer cheaper services in the country.
The government is working on making lanes of all 371 NHAI toll plazas FASTag-enabled from October 1 this year, National Highways Authority of India chairman Deepak Kumar said after the launch.
The sunset clause under the scheme, which will benefit about 4,284 eligible industrial units in Jammu & Kashmir, Uttarakhand, Himachal Pradesh and northeastern states, has been approved till March 31, 2027.
“It is risky if pilots are forced to stay on for a year if they are not in the right frame of mind, and don’t have the correct occupation level,” a senior aviation analyst, on condition of anonymity, told The Indian Express.
The CCEA chaired by PM Narendra Modi also approved empowering the Core Group of Secretaries to take policy decisions with regard to procedural issues and to consider deviations as necessary from time to time for effective implementation of the Cabinet decisions.
A senior official at the Ministry of Electronics and Information Technology said that through this exercise the government aims to scrutinise in hardware component as well as preloaded software and apps to find potential loopholes.
The RBI cut the Repo rate by 25 basis points to a six-year low of 6 per cent on August 2, but kept its policy stance at “neutral”. Four MPC members, including Urjit Patel and Viral Acharya, voted for 25 basis points cut, while Ravindra Dholakia voted for a 50 bps cut.
The 30-share Sensex zoomed 321.86 points or 1.02 per cent to close at 31,770.89, its highest closing since August 9, when it had closed at 31,797.84. Intra-day, the gauge shuttled between 31,805.99 and 31,399.35.
The Haldia closure decision comes just three months after fertiliser minister Ananth Kumar promised the revival of all closed fertiliser projects under a two-pronged strategy to realise Prime Minister Narendra Modi’s vision of ‘Fertilizer Security for Food Security’.
According to the Sebi notification, it has eased the norms for restructuring in stressed companies that are listed on exchanges as well as resolution plans approved under the Insolvency and Bankruptcy Code (IBC).
The authority said the scope, nature, security requirements, and creation of transparent networks beyond national boundaries will require considerable oversight on cloud service provisioning.
To make MNP process more subscriber-friendly, based on feedback from the stakeholders and its own analysis, the Authority has issued various directions and amendments from time to time. The current consultation on amendment of MNP regulations is also a part of the same process, it added.
Disha Patani, Esha Gupta, Malaika Arora, et al add Bollywood bling to LFW ramp
LFW W/F 2017: Bhumi Pednekar, Tapsee Pannu, Aditi Rao Hydari, Dia Mirza rule the ramp on Day 5