NPA resolution mechanisms need more teeth, says Mundra

Friday, 24 Mar 2017 | PTI | Mumbai:

RBI Deputy Governor SS Mundra on Thursday said there is a need to further strengthen existing stressed asset resolutions mechanisms like oversight committees and joint lenders forums (JLF). “I think we need to provide more strength to the processes, and that is where there are discussions going on (like) whether...

Parliamentary panel to summon Urjit Patel again on Apr 20

Friday, 24 Mar 2017 | PTI | New Delhi

A Parliamentary panel has decided to summonReserve Bank Governor Urjit Patel again to explain how much of the junked currency has been deposited in banks post note ban and the progress made in remonetisation. The meeting of the Standing Committees on Finance, headed by former cabinet minister M Veerappa Moily,...

GST Bills to be introduced in Parliament next week: FM

Friday, 24 Mar 2017 | PTI | New Delhi

Finance Minister Arun Jaitley on Thursday said supporting legislations for implementation of goods and services tax will be introduced in Parliament next week. The finance minister maintained that GST is likely to be rolled out from July 1. Jaitley said there is long procedure before the Bills are introduced in Parliament...

Amazon, Grofers, Big Basket may invest $695 mn in food retail

Friday, 24 Mar 2017 | PTI | New Delhi

The Government has received investment proposals from three companies, including Amazon and Grofers, worth $695 million for retail of food products in India under the new FDI policy. “Three companies Super Market Groceries Supplies (Big Basket), Grofers India and Amazon Corporate Holdings have submitted their proposals for seeking permission to make...

SBI Chairman among Fortune’s 50 greatest leaders of the world

Friday, 24 Mar 2017 | PTI | New York

SBI chief Arundhati Bhattacharya and Indian-origin physician Raj Panjabi have been named by Fortune magazine among the world’s 50 greatest leaders who are transforming the world and inspiring others to do the same. Bhattacharya, Chairman of India’s largest bank and the first-ever woman to do so, has been ranked 26th on...

Dr. Morepen offers preventive therapy for heart diseases, diabetes

Friday, 24 Mar 2017 | PNS | New Delhi

Dr. Morepen Ltd has introduced a specialized therapy in the area of preventive cardiology and diabetology in a non-hospital environment for the first time in India. The therapy, called External Counter Pulsation (ECP) Therapy by Renew Singapore, is a non-invasive therapy, which enhances blood flow to the heart and...

Sebi provides pricing clarity on share issuance to unlisted cos

Friday, 24 Mar 2017 | PTI | New Delhi

Listed companies allotting shares to unlisted entities under M&A deals should keep the issue price same as the trading price on the day such schemes received board approvals. After putting in place stricter norms with respect to deals involving listed and unlisted entities, markets regulator Securities and Exchange Board of...

FinMin, bankers to meet on utilising excess liquidity

Friday, 24 Mar 2017 | PNS | New Delhi

The Finance Ministry has called a meeting of bankers on Friday to discuss the ways to utilise the excess liquidity in the system. The meeting to be attended by heads of select large banks will be chaired by Economic Affairs Secretary Shaktikanta Das. Besides, RBI top officials including a Deputy Governor...

Fund mop-up via BSE’s e-book debt platform hits Rs 2 lakh crore

Friday, 24 Mar 2017 | PTI | Mumbai

The total fund raising by companies through issuance of debt securities on BSE’s electronic book platform has crossed the Rs 2 lakh crore milestone. The BSE’s electronic book platform ‘BSE BOND’, for issuance of debt securities on private placement basis, was launched on July 1, 2016. Since then, 68 firms...

4G contributed 60% of incremental data traffic in 2016: Nokia survey

Friday, 24 Mar 2017 | PTI | New Delhi

High-speed mobile broadband technology 4G drove data traffic across India in 2016, making up 60 per cent of incremental data volumes, according to a Nokia study. Nokia's annual Mobile Broadband Index study of mobile broadband performance in India revealed that ‘4G was the major source of data traffic across the...


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UPward and forward

19 Mar 2017 | Rajesh Singh

Is the marginalisation of the two caste-based parties in Uttar Pradesh a harbinger of change — from identity politics to the politics of development? If we take the 2014 and 2017 elections together, that does seem to be the suggestion, writes RAJESH SINGH Understanding an election result as monumental as that of Uttar Pradesh is akin to unravelling a deep thriller plot. The why, when, where, how and what — this...

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CM carries out minor reshuffle

25 Mar 2017 | PNS | Lucknow

Chief Minister Adityanath Yogi carried out a minor reshuffle in five ministers on Friday. A government spokesman said that Labour minister Swamy Prasad Maurya has been given additional charge of Co-ordination ministry while he has been divested of Urban employment and poverty alleviation and the charge of these ministries have been given to Urban Development minister Suresh Khanna...

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