The resolution professional of Reid & Taylor India has sought permission from the Mumbai bench of NCLT to file criminal a complaint against Nitin Kasliwal, the promoter of the bankrupt premium apparel brand, for fraudulent transactions worth Rs 3,524 crore. The matter is likely to come up at the tribunal Tuesday when it will hear […]
Category: Business
The YES Bank stock rose in early trade today ahead of a board meeting on January 9 to finalise the name of its CEO and MD candidate to replace Rana Kapoor whose term ends January 31. Subsequently, the name will be sent to the Reserve Bank of India for approval. The stock rose up to […]
Chennai: The general secretary of the All India Bank Employees’ Association, CH Venkatachalam, said bank and insurance sector employees would boycott work on January 8 and 9 to highlight various demands. Speaking to reporters in Chennai on Sunday, Venkatachalam said the Centre must strengthen the public sector banks and halt privatisation of the public sector […]
New Delhi: Absconding diamond trader Nirav Modi, a prime accused in the multi-crore PNB scam, on Saturday claimed that he has not done anything wrong and the scam was a civil transaction. His statement was in response to special Prevention of Money Laundering Act (PMLA) court on ED’s application to declare him fugitive offender under […]
2018 was an interesting year for the markets. There were some predictable surprises as well as some unpredictable surprises, which made the markets quite volatile compared to the remarkable run of 2017. The low returns on equities was on expected lines as the year began with the market being overvalued, especially in the small and […]
Any attempts by the government to undermine the central bank’s freedom and raid its surplus capital may spook investors. India’s economy grew at a faster pace than most major nations in 2018, and this year, it’s poised to overtake the UK to become the world’s fifth-biggest. But that journey won’t be smooth. The outcome of […]
Since the introduction of Aaddhar Card by the government, new laws have been put forward, old ones been amended and even there has been a rise in security concerns all around. Now, recently the Indian government has issued a provision, which states a fine of one crore to ten lakh per day fine if any […]
Indian Government has stopped printing of Rs 2000 currency notes, says a report in The Print. The decision has been taken 2 years after Modi government, in a shocking move, announced demonetisation of Rs 1000 and Rs 500 denominations. That move was highly criticised by the Opposition which claimed that the move will further help […]
Mumbai: Five asset management companies (AMCs) will make their pitch before government officials on Thursday to manage India’s first exchange traded fund (ETF) that will hold debt securities of public sector undertakings (PSUs). The Department of Investment and Public Asset Management (Dipam) has invited SBI Funds Management Pvt. Ltd, Reliance Nippon Life Asset Management Ltd, […]
It is tempting to believe, like RBI, that the worst of the NPA crisis is behind us and that banks, especially PSU ones, are on the road to recovery. In its latest Financial Stability Report (FSR), RBI says that NPAs (as a percentage of bank loans), which rose from around 7.5% in March 2016 to […]