The government is looking to impose strict deadlines on banks that are under the Reserve Bank of India’s watch to implement a turnaround plan. This
Day: May 18, 2018
PNB: About time PNB takes some rest from banking activity; here’s why–Economic Times–18.05.2018
By Andy Mukherjee Other than the embarrassment of asking the country’s second-largest state-run lender to, well, stop lending, there’s no other reason why India should
PNB Fraud: Nirav Modi scam: US court wants PNB staff probed–Economic Times–18.05.2018
A New York court has called for an investigation into the role of Punjab National Bank employees in the alleged fraud involving Nirav Modi, before deciding
RCom: NCLT admits Ericsson’s bankruptcy plea against RCom, subsidiaries – The Economic Times–18.05.2018
NCLT admits Ericsson’s bankruptcy plea against Reliance Communications, subsidiaries The dedicated bankruptcy court has admitted three insolvency petitions filed against Reliance Communications and its subsidiaries, by telecom gear maker Ericsson,
Supreme Court asks Jaiprakash Associates Limited to deposit Rs 1,000 crore by June 15 – The Financial Express
The Supreme Court today directed realty firm Jaiprakash Associates Limited (JAL) to deposit Rs 1,000 crore, in addition to Rs 750 crore already deposited, by
IBC’s 29-A’s 1st victory – The Financial Express
While Arcelor Mittal depositing the dues can be considered the first victory of IBC Section 29A, what happens to Numetal remains to be seen. Whether
Malaysia scraps GST, experts advise caution to Indian govt | Business Standard News
Malaysia announced it would scrap the 6% GST rate, in line with the electoral promise by Prime Minister Mahathir Bin Mohamad that helped him win
RBI move can help cap rupee slide at 72 levels, says Nizam Idris | Business Standard News
A steady rise in crude oil prices and the possibility of rate hikes by the US Federal Reserve pushed the rupee to a 16-month low
Bite the bullet – Business Line
The time has come for the Centre and the RBI to take tough decisions on public sector banks With the financials of stressed public sector
Essar Steel: Numetal makes Rs 37,000 crore bid for Essar Steel in round 2
Essar Steel is being auctioned after the company defaulted on payment of about Rs 49,000 crore loan to lenders. VTB-led Numetal, a prominent bidder for Essar
bad loans: View: Think twice before busting ailing banks – The Economic Times
RBI’s punishments would in effect shut down a good portion of the Indian banking sector. By Mihir Sharma India seems intent on cleaning up a banking
IBC: Amitabh Kant says IBC has put an end to crony capitalism – The Economic Times
The world of crony capitalism in India has come to an end with the introduction of Insolvency and Bankruptcy Code (IBC), Niti Aayog chief executive Amitabh Kant said here at a
Income Tax Returns: Which ITR form applies to you for financial year 2017-18?
Various factors like the type of income, quantum of income, residential status of the tax payer etc. need to be considered to select the right
SME Growth: What’s in a classificati? Everything if you are an MSME–18.05.2018
V Sriram The recent move (February 7, 2018) of the Union Cabinet to change classification norms for MSMEs from ‘investment in plant and machinery/equipment’ to ‘annual turnover’ is a
Bank fraud: ED attaches Rs 184.68-crore worth assets of Rajasthan CA, others | Evernote Web
The Enforcement Directorate (ED) today said it has attached assets worth Rs 184.68 crore of Rajasthan-based Chartered Accountant (CA) and others in connection with its
RBI issues guidelines on net stable funding ratio – The Financial Express
The guidelines on Net Stable Funding Ratio (NSFR) are in line with global norms prescribed by the Basel Committee. The RBI today issued detailed NSFR guidelines to
Preserving IBC’s goal – The Financial Express
In the current environment, therefore, where banks stand to lose a lot of taxpayer money, it is important to consider options that would allow them
Simplify individual insolvency resolution: IBBI must focus on building capacities of insolvency professionals – The Financial Express
The legislature might come up with a new structure by adding more DRT benches and revisiting provisions relating to individual insolvency. Although liquidation and bankruptcy
Centre may ask RBI to ease prompt corrective action framework | Business Standard News
The Centre may ask the Reserve Bank of India (RBI) to consider revising the prompt corrective action (PCA) framework so that a complete restriction on fresh lending does not
The debt pile: IMF sounds a warning about growing levels of debt | Business Standard Editorials
The International Monetary Fund (IMF) has released a set of indicators for worldwide debt that has raised many valid concerns. It estimated that global debt was now $164 trillion, 225 per
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