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.
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.
ONGC officials also said that they were keen on being partners in the establishment of a Petro-University in Andhra Pradesh.
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.
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.
FinMin report says nine PSU banks have not formed JLF to tackle stressed accounts.
The FFC also suggested replacing the existing FRBM Act with a debt ceiling and fiscal responsibility legislation, specifically invoking Article 292 in its Preamble.
The new formula being proposed for permitting airlines to start international operations, once approved, will replace the ‘5/20’ norm.
John Nelson, chairman, Lloyd’s, said, “this (new Bill) is great news for Lloyd’s as the Bill allows the Lloyd’s market to operate in India.
Sharp fall raises industry clamour for a rate cut by Reserve Bank.
The Centre, though rebutted apprehensions, the GST Bill may face major roadblocks.
NITI Aayog CEO Sindhushree Khullar is grappling with the seemingly tough task of trimming the NITI bureaucracy from its current sanctioned strength of 1,200.