Kolkata: State-owned lenders Bank of India and Union Bank of IndiaNSE 2.21 % appear to have made arrangements with Canara BankNSE 0.11 % to provide collateral-free loans to their respective employees,
IL&FS sees management collusion, fraud in IFIN’s bad loans – The Economic Times
The government-appointed board of IL&FS is planning to initiate criminal proceedings against several defaulters of IL&FS Financial Services (IFIN), charging them of colluding with the
India needs to do more if FDI flows are to increase – The Financial Express
Given the Indian economy’s relative attractiveness vis a vis China in the last few years—lower wage costs and a strong technology sector—it should attract large
NCLT rejects Essar Steel’s operational creditors plea against Arcelor’s bid | Business Standard News
The National Company Law Tribunal (NCLT)-Ahmedabad on Thursday rejected debt-laden Essar Steel India’s (ESIL’s) operational creditors (OCs) plea against ArcelorMittal’s Rs 42,000-crore bid. It is seeking consideration of promoters Essar
PSBs–Beyond PCA | Business Standard Editorials
The Reserve Bank of India on Tuesday took three more commercial banks out of the prompt corrective action (PCA) framework, thus opening up the possibility
Policy to merge state-owned banks will continue, says Arun Jaitley | Business Standard News
The Narendra Modi government will continue to follow a policy of amalgamating public sector banks to create a few but giant state-owned lenders which are
‘Govt maintaining good distance from IBC pays rich rich dividends to banking system’ – The Hindu BusinessLine
Finance Minister Arun Jaitley, on Thursday, said the government’s conscious decision to keep distance from the Insolvency and Bankruptcy Code (IBC) process has paid rich
GST: Govt detects Rs 20,000 cr GST evasion in April-Feb FY’19–Economic Times
urrently, GST has 4-tier slab of 5, 12, 18 and 28 per cent, while essential items are zero rated. The government has detected Rs 20,000
GST: India’s transformational GST has some hits, few misses–Economic Times
By Sumit Dutt Majumder There were certain basic objectives of introduction of GST. One was to substantially reduce, if not eliminate, the cascading of taxes by
Universal Basic Income: Why Universal Basic Income is a bad idea–Economic Times
A UBI offering even poverty-line income will cost maybe 10% of GDP, and the entire net revenue of GoI is barely 8% of GDP. Ten
A patchwork approach to GST problems – The Hindu
Transparency and simplicity in the tax regime are casualties of the GST Council’s recent decisions It has the best intentions, but the Goods and Services
Counter strike: Responsive & responsible–Economic Times
India has hit back at Pakistan for the terror attack at Pulwama that killed more than 40 Indian paramilitary personnel. India’s air strike within Pakistani
RCom-Ericsson case: Investors oppose Anil Ambani-led firm’s plea to use IT refunds to settle dues at NCLAT – The Financial Express
Financial creditors of the debt ridden Reliance Communications Wednesday opposed its plea to release the Income tax refunds to clear dues of Ericsson before the
Recapitalisation not enough, PSU banks need Rs 1.64 lakh crore to deal with future losses – The Financial Express
Government’s latest capital infusion of Rs 48,239 crore in PSU banks announced on 21 February 2019 may not be sufficient to support significantly stronger lending
No real boost – The Hindu BusinessLine
Giving in to hectic lobbying by real estate developers, the GST Council has make multiple tweaks to Goods and Services Tax for residential property, slashing
Decoding the Ordinance on unregulated deposit schemes – The Hindu BusinessLine
The recently-promulgated Banning of Unregulated Deposit Schemes Ordinance 2019 ruffled a few feathers with news reports and legal experts expressing concerns over how the ordinance
Demonetisation | Note Ban: Demonetisation 2.0? New rule to regulate deposits may hurt many–Economic Times
Acceptance of unregulated deposits could trigger attachment and freezing of assets and even imprisonment. Highlights ‘The Banning of Unregulated Deposit Schemes Ordinance, 2019’ was notified
Targeted Budget: April-January fiscal deficit at 121.5% of full-year target–Economic Times
India’s April-January fiscal deficit touched Rs 7.7 lakh crore ($108.36 billion). Fiscal deficit touched 121.5 per cent of the full-year revised target of Rs 6.34 lakh
MSMEs present an additional $70 bn lending opportunity to banks – The Economic Times
In January, the Reserve Bank had announced restructuring of MSME accounts under Rs 25 crore that have become stressed. The micro, small and medium enterprises
Taxman agrees GST evasion by builder can’t be tackled – The Financial Express
Given how the real estate sector is such a big source of black money, it is unfortunate that the GST Council has opted for this
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