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Rating agency Crisil has put the scam-ridden Punjab National Bank's ratings on 'watch', following the Rs 11,400-crore fraud detected by the lender at one of its Mumbai branches.
18 Feb 2018
The restructuring proposal was mooted by government think tank Niti Aayog for "providing a leadership and inter-ministerial coordination".
Assocham that PSBs should then be allowed to function on the lines of private sector lenders with a full sense of accountability to their shareholders
Capital markets watchdog Sebi is looking into the trade details and various suspected violations by Modi-linked entities, including another jewellery major Gitanjali Gems of Mehul Choksi.
Since the lifting of sanctions on Iran in 2016, it has been offering India a freight discount linked to a formula translating into 105 percent of the Platts assessment.
This is against the total inflow of over Rs 13,780 crore by foreign portfolio investors (FPIs) in January, latest data with depositories showed.
The bank had reportedly taken steps to increase business levels as there was "slight stagnancy earlier" (in the bank operations).
There was a flat growth in non-coking coal adding the "met coal imports were up both on annual and monthly basis, thanks to the downtrend in January prices and the recent growth spurt in steel sector
The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above.
This is part of the NTPC plan for inorganic growth as the corporation is eyeing the plants that are close to coal sources and running with an eye on the cost of generation from these plants.
The proposed policy, the draft of which has been released by the commerce and industry ministry for consultation with various stakeholders, will completely revamp the Industrial Policy of 1991.
Over 70% of restaurant owners in Mumbai and Bengaluru believed GST is a positive decision for the industry, while 68% businesses felt it will ease compliance since it is backed by technology.
The industry body said PSB senior managements spend bulk of their time "receiving and implementing directions from the bureaucrats even for innocuous issues."
Bankers huddled here on Saturday to determine what they owe each other in the Rs 11,400 crore Indian banking fraud.
About 4 lakh people applied for loans from different banks to avail the benefits under the PMEGP in 2017-18, but only 51,319 people, or 12.5 per cent, succeeded in getting loans.
Overseas branches of five Indian banks were authorised by Punjab National Bank (PNB) officials to fund three companies owned by Nirav Modi and Mehul Choksi.
The Indian Railways has decided to do away with uneconomical train stoppages that were made over the years as part of social obligations from Parliamentarians and state governments.
Enforcement Directorate conducted search at a franchise- based store of Gitanjali Gems in West Bengal's Durgapur and the group is probably in the process of winding up its only store in Kolkata.
Under the ‘Qualcomm Design in India’ 2018 program, about 15 startups focusing on fintech, agritech, meditech, rural IOT, biometrics and smart infrastructure will be selected and mentored.
17 Feb 2018
According to Section 29 A of the new Insolvency and Bankruptcy Code (IBC) framework, promoters of defaulting companies are barred from bidding for stressed assets.
The SFIO will also look into all the companies belonging to Nirav Modi, wife Ami, brother Nishal Modi and uncle Mehul Choksi.
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