This is the second high profile exit of a well-known CEO of a top business group in the last 12 months. The sacking of Cyrus Mistry as Tata Sons Chairman last year had also raised corporate issues with Ratan Tata questioning many decisions of Mistry. Infosys CEO Vishal Sikka's resignation came through even before the dust had settled on Mistry's sacking.
For the year 2015-16, the RBI board had approved the transfer of surplus amounting to Rs 65,876 crore to the government. In the previous year, the Central bank had paid Rs 65,896 crore to the government, which came as a boon to the government in covering the deficit.
The EPFO, which has a corpus of close to Rs 10 lakh crore, decided last month to pump in Rs 22,500 crore in exchange traded funds in 2017-18 following approval from its central board of trustees to increase the equity investment from 10 per cent to 15 per cent.
Enlisting the growth barriers, the report explained that currently the regulations are prescriptive and rule-based, and often there is carping on ‘market not mature’ and ‘data not adequate’. Private players reported underwriting losses of Rs 2,500 crore in FY 2017.
After prime lending rate, benchmark prime lending rate, base rate and marginal cost of funds-based lending rate, the central bank is planning to come up with another system to price loans.
The 10-year benchmark government securities (G-Sec) yield has fallen by around 25 bps since the beginning of FY 2018 to 6.42 per cent, which has partly raised the likelihood of a rate cut by the MPC next week.
The Nifty, which has been steadily gaining ground over the last one year amid high liquidity, rose 44.90 points to reach an all-time high of 10,011.30 points crossing its previous intra-day high of 9,982.05 yesterday. However, it fell quickly after valuation concerns.
News of the launch pushed share prices of RIL’s rivals down on the stock exchange. Bharti Airtel shares fell by 2.05 per cent Rs 153 a month and Idea Cellular by 3.11 per cent while RIL shares soared 3.76 per cent during the day.
The government’s warning has come at a time when PSU insurers are getting ready to come out with initial public offers (IPOs) and list their shares on the bourses.
More than half of education loans were taken by applicants in southern states, which have also reported most defaults. Students from Tamil Nadu and Kerala are in the forefront of taking loans, said an official of a nationalised bank.
Shroff, who represents lenders in the litigation, said buyers for the assets are waiting in the wings and banks will get to know the realisation — of course with haircuts and after long-drawn proceedings.
Within Vidarbha, the textile park in Amravati attracted huge investment largely led by policy shift to have textile units only in cotton producing areas.
Such firms to be included in corporate affairs ministry's ‘vanishing’ firms list
In September 2016, ICICI’s Singapore branch had moved the New York Supreme Court seeking $560 million in damages
Despite efforts by the government, the transitional provisions have failed to account for or facilitate transition of credit and stocks in many scenarios relevant to businesses. According to sources, the textile and garments sector workers are going on a strike from June 26 against the high rate of GST.
With the implementation of GST less than a week way, experts have warned of a short-term liquidity shortage as there could be input credit lock up of of over Rs 100,000 crore, of which close to Rs 50,000 crore could be blocked for about two months.
India’s central bank, which has kept the benchmark repo rate steady at 6.25% in the last four policy reviews awaiting the US Federal Reserve’s decision and the progress of monsoon, may opt to go for a bigger cut in the next policy review
25% of total NPA in these accounts with overdue above Rs 5,000 crore each.
India Inc’s bank exposure has declined to Rs 24,94,100 crore in April 2017, from March 18, 2016 high of Rs 27,30,700 crore, according to the Reserve Bank of India data.
Seven global players — Swiss RE, Munich Re, Hannover Re, Lloyd’s, XL Catlin, RGA and Gen Re — have already received approvals from insurance regulator IRDAI.
A Bank of America Merrill Lynch report has said various state governments are expected to waive off $40 billion, or Rs 257,000 crore, of farmers’ loans in the run-up to the 2019 general elections.
IRDAI bars official Actuary Sandilya for 2 years
In extreme cases, the PCA framework provides the RBI with powers to force mergers or even wind up the non-compliant banks.
The new branch structure will now allow Gen Re to deliver underwriting and risk management expertise locally rather than cross-border.
While insurance companies pulled out over Rs 10,000 crore in the fourth quarter alone, FPI investments in both equity and debt markets have touched Rs 1,08, 484 crore in 2017
The latest plan which provides cover up to age 100 offers a combination of income and protection
Reforms in life, general insurance were also talked about: Panel member
Deposits of Indians abroad, too, more than doubled to $283.8 million in 2016-17 from $109.9 million last year.
The full picture on currency withdrawal is not available even now as the RBI is yet to release data on currency which has come back into the banking system
Proposed amendments to make resolution process more effective, provide relief to bankers: Lavasa
With New India Assurance (NIA) and GIC Re expected to sell 10-25 per cent of the capital, the government is likely to mobilise around Rs 10,000 crore from the divestment.
In 2016, the government decided to provide tax benefit on 40 per cent of withdrawal amount at the maturity of any NPS scheme.
While the RBI’s deadline on cleaning up the banks’ balance sheets will be over by Q4 of 2016-17, banks are preparing to make further provisions in the Q4 results.
In another measure the insurance regulator has said a person can be a promoter only in one insurance broking company.
In the 9 years debt waiver for well over 3 crore small and marginal farmers under the Agricultural Debt Waiver and Debt Relief Scheme, 2008 have been announced.
The government of Amarinder Singh is under tremendous pressure to announce a waiver.