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BusinessToday.In
August 21, 2018
Kerala CM Pinarayi Vijayan today said that his government will ask Centre to raise the ceiling on borrowing for the state to 4.5 per cent of the GDP.


BusinessToday.In
August 21, 2018
The Modi government, already backed into the corner over unemployment, absconding defaulters, rupee depreciation, fuel prices and more, would not want more bad news on the NPA front at this juncture.


BusinessToday.In
New Delhi, August 17, 2018
Gross NPAs have exceeded Rs 8.5 lakh crore, up 19% year-on-year, while total provision for NPAs jumped 28% (y-o-y) to Rs 51,500 crore.


Anand Adhikari
New Delhi, August 16, 2018
BJP was seen as a party which opposed liberalisation or reforms. However, in his tenure as the prime minister, Atal Bihari Vajpayee emerged as more of a reformist.


PTI
August 15, 2018
Reserve Bank of India (RBI) is examining as to whether banks have followed prudential norms in respect of these stressed assets, a senior public sector bank official said.


BusinessToday.in
New Delhi, August 14, 2018
Government of India has dismissed former Punjab National Bank managing director Usha Ananthasubramanian; India has disbursed nearly 13.47 crore loans worth Rs 6 lakh crore under the Pradhan Mantri Mudra Yojana; and rupee has touched yet another historic low. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.


Joe C Mathew
August 14, 2018
The observations came after the committee noted that the rules introduced by Reserve Bank of India (RBI) to help banks to counter the non performing asset (NPA) problem have hit the MSMEs very hard.


PTI
August 12, 2018
Out of the two accounts on sale, Bombay Rayon Fashions Ltd owesRs 2,260.79 crore to the bank. The second account, Shivam Dhatu Udyog Pvt Ltd, has to repay Rs 229.32 crore.


BusinessToday.In
August 12, 2018
Senior officials at SBI mentioned that the embattled airline is part of its overall watchlist for stressed accounts and special mention category loans as on June 30, 2018. Jet. however, had a different story to tell.


BusinessToday.In
New Delhi, August 10, 2018
Even after seeing his business turn upside down and the Indian authorities desperately pushing for his extradition, Mallya's London home has all the worldly luxurious things one can imagine, one of which is a golden toilet.


BusinessToday.In
New Delhi, August 10, 2018
The State Bank of India reported a loss of Rs 4,876 crore in the June quarter on account of lower trading income and significant mark-to-market losses due to hardening of bond yields, as well as rising provisions.


Prosenjit Datta
New Delhi, August 9, 2018
Needless to say the rapid changes at the top of Air India does not give any chairman enough time to make any substantive changes to the carrier.


BusinessToday.In
August 9, 2018
The stock rose 8.5% intra day to Rs 345.85, its highest level since February 2018. It was the top  Sensex, Nifty gainer today. It has gained 14.89% during the last one year and 6.42% since the beginning of this year.


BusinessToday.In
New Delhi, August 8, 2018
PNB posts Rs 940 crore Q1 loss amid decline in NPAsScam-hit Punjab National Bank (PNB) reported a loss of Rs 940 crore for the June quarter of financial year 2018-19. The public sector lender had posted a net profit of Rs 343.40 crore in the same quarter of last fiscal. This is the second consecutive quarterly loss for the second biggest state-run lender. The scam-hit bank had recorded biggest ever quarterly loss of Rs 13,417 crore for the January-March period on the back of Nirav Modi-Mehul Choksi fraud. Total income of the bank rose to Rs 15,072 crore from Rs 14,468.14 crore in the year-ago period. Govt hikes import duty on 328 textile items to boost domestic productionIn yet another move to boost domestic manufacturing, the government on Tuesday doubled import duty on as many as 328 textile products to 20 per cent. The government expects that the increase in duties would give an edge to domestic manufacturers as imported products are currently cheaper. And increase in manufacturing activity will help create jobs in the sector, which employs about 10.5 crore people.Last month, the government had doubled import duty on over 50 textile products - including jackets, suits and carpets - to 20 per cent, a move that was aimed at promoting domestic manufacturing.Civil Aviation Ministry plans Rs 11,000-crore bailout package for Air IndiaThe Civil Aviation Ministry is in discussions with the Finance Ministry for a Rs 11,000 crore bailout package for ailing Air India, sources said. The discussions come against the backdrop of a failed effort to privatise the loss-making airline, which continues to grapple with financial woes. Sources in the know said that the Civil Aviation Ministry is working on a bailout package for the carrier, which would be utilised to reduce high cost working capital loans.Parliamentary panel asks RBI to restore letters of undertaking at the earliestThe Parliamentary Standing Committee on Commerce asked the apex bank to restore LoUs at the earliest with \"proper safeguards\" so as to increase the availability of credit for traders. The report further claimed that the ban resulted in a jump in the cost of credit by 2-2.5 per cent. Previously, these instruments were largely issued by domestic branches of Indian banks for customers to avail trade credit from foreign branches of other Indian banks and, thus, ease the high cost of imports.The panel pointed out that the increased cost of financing would only hurt the cost-competitiveness of country's trade and industry, and have a cascading effect on jobs. And the loss of jobs is something the country can ill-afford. Indian banks lose Rs 70,000 crore due to frauds in last 3 financial yearsIndian banks reported a total loss of about Rs 70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed today. The extent of loss in fraud cases reported by scheduled commercial banks (SCBs) for 2015-16, 2016-17 and 2017-18 was Rs 16,409 crore, Rs 16,652 crore and Rs 36,694 crore, respectively, Minister of State for Finance Shiv Pratap Shukla said in a written reply quoting RBI data.The minister said that data of frauds is as per the year of reporting and not the year of occurrence of fraud or sanction of loan, letter of undertaking, which may might be of an earlier period.17 lakh Maharashtra govt employees start 3-day strike for salary hikeAround 17 lakh employees of the Maharashtra government began their three-day strike on Tuesday to press for various demands, including implementation of the Seventh Pay Commission report. Essential services in various departments, including government hospitals, are likely to be affected as class 3 and 4 government employees have joined the strike, Maharashtra Rajya Sarkari Karmachari Madhyavarti Sanghatna general secretary Avinash Daund claimed. The government employees are yet to receive arrears accrued to them since the implementation of the Sixth Pay Commission by the state government.NCLAT extends deadline for submission of revised bids for Bhushan Power & Steel The prolonged battle for the debt-ridden Bhushan Power and Steel has just gotten stretched out even more. The National Company Law Appellate Tribunal extended the deadline for revised bid submission by yet another week, so things are unlikely to wrap up anytime soon. The Tribunal pushed back the deadline to August 13 on the plea of Tata Steel, which had been declared the highest bidder in July - for the second time.


BusinessToday.in
New Delhi, August 6, 2018
Bank credit has grown by 12.44 per cent to Rs 86.13 lakh crore, services sector saw a growth of 23 per cent against just 4.7 per cent in the previous month; the draft Personal Data Protection Bill has left the crucial issue of data localisation rather open-ended; and it was revealed in the parliament that central and state governments were unable to fill 24 lakh vacancies including in the railways, and army. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.


BusinessToday.In
New Delhi, August 6, 2018
Under the new bill, Pakistan is not required to take any action against Haqqani Network or the Lashkar-e-Taiba (LeT), and will also not get any reimbursement for its counter-terrorist activities in the country.


Anand Adhikari
New Delhi, August 6, 2018
The government has given signal to banks to try out yet another resolution approach, including AMC-AIF, for dealing with growing stressed assets. Will it work?


Anand Adhikari
New Delhi, August 6, 2018
It has not given bankers the realisations they had hoped for. Now the government has unveiled a new approach even while they are modifying the act.


BusinessToday.In
New Delhi, August 3, 2018
On Wednesday, Kotak Mahindra Bank also raised its one-month and three-month MCLR, or marginal cost of lending rate, by 5 basis points to 8.20 per cent and 8.55 per cent, respectively.


BusinessToday.in
New Delhi, August 2, 2018
Ruchit Jain, Technical Analyst, Angel Broking, takes viewers through all the market action today. The Sensex suffered its biggest single-day rout in over four months today as investors scrambled for the exit amid a flare-up in Sino-US trade frictions. Profit-booking by participants following the recent rally on Dalal Street added to the selling pressure, brokers said.


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