On April 17, Jet Airways announced temporary closure of the airline’s operations after a consortium of bankers led by State Bank of India refused immediate fund infusion of Rs 983 crore into India’s oldest private airline.
According to the bank, provisions and contingencies for the latest quarter were Rs 1,889.2 crore (consisting of specific loan loss provisions Rs 1,431.2 crore, general provisions Rs 191.2 crore and other provisions Rs 266.9 crore) as against Rs 1,541.1 crore in the year ago period.
Even as industry players argued in their discussions with the finance ministry that issuer pays model is time tested and used by most countries, the government and the Securities and Exchange Board of India (SEBI) are reviewing the regulations to incorporate the Committee’s suggestions
Earlier this month, the World Bank said India's GDP growth was expected to accelerate moderately to 7.5 per cent in fiscal year 19-20, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption.
Delivering the keynote address at the 2019 ECOSOC Forum on Financing for Development at the UN Headquarters on Monday, Rajan said the open liberal democratic market system that brought the world enormous prosperity in the six decades or so after the Second World War is now under attack.
The CBDT has already issued directions to tax offices across the country to probe financial transactions of about three lakh firms, de-registered by the government for their dubious financial credentials, for tax evasion and money laundering
The regulator also allowed pass through of coal costs, subject to a cap of $110/tonne. Additionally, it allowed extension of PPA with GUVNL by another 10 years after completion of the 25-year tenure by 2032.
Manufacturing output in Index of Industrial Production (IIP) slipped again into negative territory after a gap of two months, contracting 0.3 per cent in February as against a growth of 8.4 per cent in the year-ago period and 1.0 per cent growth in previous month.
Addressing the Republican Jewish Coalition in Las Vegas on Saturday, Trump said: "We have a case where a certain country, India, is charging us... what great country, great friend, Prime Minister (Narendra) Modi -- charging us over 100 per cent for many things".